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Tamil Nadu Assembly adopts unanimous resolution on fair share of Central tax devolution
The Tamil Nadu Assembly unanimously passed a resolution urging the Union government to ensure a fair and equitable share of central taxes for the state. The resolution highlights the tension between the financial contributions of better-performing states and the actual devolution they receive under the current fiscal framework, arguing that states shouldn't be penalized for achievements in population control and human development.
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Must ReadIndia reviewing bilateral investment treaty overhaul to boost foreign investment: Official
The Indian government is reviewing its 2016 Model Bilateral Investment Treaty (BIT) framework to facilitate faster dispute resolution and improve ease of doing business for foreign investors. This overhaul aims to accelerate ongoing negotiations for new investment pacts with developed nations like the United Kingdom and address India's declining net Foreign Direct Investment (FDI) inflows compared to regional peers like Vietnam and Indonesia.
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Must ReadTariff rationalisation set to continue, more steps likely in FY28 Budget: FM
Finance Minister Nirmala Sitharaman has indicated that the government will continue its policy of **tariff rationalisation** in the upcoming budgets, aiming to boost domestic manufacturing competitiveness. She also emphasized the long-term vision of [Viksit Bharat] by 2047, outlining a development model focused on trusteeship, inclusivity, and zero poverty, rather than pure consumerism.
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Must ReadIndia, China discuss LAC situation and border management during diplomatic talks: MEA
India and China held diplomatic talks in New Delhi under the [Working Mechanism for Consultation and Coordination on India-China Border Affairs] (WMCC). The discussions focused on reviewing the situation along the [Line of Actual Control] (LAC), boundary delimitation, border management, and trans-border cooperation.
![Illustration about Polity & Governance: The [Supreme Court] has sought the Centre's response to petitions challenging amendments to the [Right to Information Ac](/_next/image?url=https%3A%2F%2Fstorage.googleapis.com%2Fprepdose-article-images%2Fdaily-read%2F2026-08-07%2Fsupreme-court-seeks-centres-response-on-pleas-challenging-data-protection-law-1bf425c9.png&w=1200&q=75)
Must ReadSupreme Court seeks Centre's response on pleas challenging data protection law
The [Supreme Court] has sought the Centre's response to petitions challenging amendments to the [Right to Information Act, 2005] made through the [Digital Personal Data Protection Act, 2023]. The petitioners argue that the changes, specifically to Section 8(1)(j), dilute transparency by removing the 'public interest' safeguard that previously allowed for the disclosure of personal information if it served a larger public good.
Read on The HinduDive Into Study Notes![Illustration about Industry & Manufacturing: The Lok Sabha passed the [Micro, Small and Medium Enterprises Development (Amendment) Bill, 2026] without debate amid op](/_next/image?url=https%3A%2F%2Fstorage.googleapis.com%2Fprepdose-article-images%2Fdaily-read%2F2026-08-07%2Flok-sabha-passes-msme-development-amendment-bill-without-debate-9a4cd336.png&w=1200&q=75)
Must ReadLok Sabha passes MSME Development Amendment Bill without debate
The Lok Sabha passed the [Micro, Small and Medium Enterprises Development (Amendment) Bill, 2026] without debate amid opposition protests, following its earlier passage in the Rajya Sabha. The Bill aims to address the critical issue of delayed payments to MSMEs by prescribing timelines for dispute adjudication, facilitating settlement recovery, and mandating minimum payments in pending court cases, aiming to ease liquidity crunches in a sector vital to India's economy.
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ImportantThe problem with India’s free trade agreement strategy
India has recently accelerated its strategy of negotiating Bilateral Free Trade Agreements (FTAs) to enhance market access, integrate into Global Value Chains (GVCs), and strengthen strategic partnerships. However, this strategy faces criticism as historical data indicates that India's previous FTAs with Asian economies like ASEAN, South Korea, Japan, and Singapore have often resulted in widening trade deficits, raising concerns about the true economic benefits of these agreements.
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Access paradox: On medical education in India
The editorial highlights a critical paradox in India's medical education sector: while the number of MBBS seats has nearly tripled in the last 12 years, this growth is overwhelmingly concentrated in private institutions (now accounting for over 50% of seats). This expansion, intended to alleviate healthcare shortages, has inadvertently exacerbated issues of affordability, equitable distribution of doctors (particularly in rural areas), and quality of education.
Read on The HinduDive Into Study Notes![Illustration about Economy: After a two-decade halt prompted by systemic failures and governance issues, the [Reserve Bank of India] has decided to](/_next/image?url=https%3A%2F%2Fstorage.googleapis.com%2Fprepdose-article-images%2Fdaily-read%2F2026-08-07%2Frbi-gives-urban-cooperative-banks-new-lease-of-life-explained-fa868dfa.png&w=1200&q=75)
Must ReadRBI gives Urban Cooperative Banks new lease of life | Explained
After a two-decade halt prompted by systemic failures and governance issues, the [Reserve Bank of India] has decided to resume issuing licenses for [Urban Cooperative Banks]. This move is part of a renewed effort to leverage the community-based lending model for enhanced financial inclusion, but with significantly stricter entry requirements—including a minimum capital of ₹300 crore and a 12% capital adequacy ratio—to prevent the recurrence of past failures.
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Must ReadHaving majority no reason for lawmakers to defy party: Supreme Court
The Supreme Court, hearing the Shiv Sena factional dispute, clarified that a majority within a **legislature party** cannot override the official directives of the **original political party**. The court emphasized that the maturity of a democracy relies on the ideological consistency of political parties, rejecting the idea that mere numerical superiority of elected members justifies defection or hostile takeovers.
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