Current Affairs by JobSafalCurrent Affairsby JobSafal
हिंदी

Current Affairs 24 July 2026

In short

  • India scraps import duties on key smartphone and electronic components
  • Consumer inflation likely breached RBI’s 4% target in June amid food and fuel price rise

…and 4 more stories on ECONOMY, DEFENCE, ENVIRONMENT, GOVERNANCE.

Top stories

ECONOMY

India scraps import duties on key smartphone and electronic components

The Government of India has scrapped import duties on several parts used to manufacture mobile phones and other electronic devices, removing existing levies of 7.5% and 5% on these components.[1] The move is aimed at lowering input costs for device manufacturers and strengthening India’s position as a global electronics manufacturing hub.[1] Companies such as Apple and Xiaomi, which assemble phones in India, are likely to benefit from reduced production costs and improved competitiveness.[1] The decision aligns with the broader “Make in India” and production-linked incentive (PLI) policy push to attract more investment in electronics manufacturing. It may also help temper consumer prices of smartphones and related devices, though the exact pass-through will depend on firms’ pricing strategies. The policy change comes amid global supply-chain realignments and India’s efforts to integrate more deeply into electronics value chains.[1] The duty removal is expected to support job creation in ancillary manufacturing and related services.

Try the question

The recent Indian government decision to support smartphone manufacturing involved which measure?

ECONOMY

Consumer inflation likely breached RBI’s 4% target in June amid food and fuel price rise

A Reuters poll indicates that India’s consumer inflation probably exceeded the Reserve Bank of India’s medium-term target of 4% in June for the first time in 16 months.[1] Poll respondents cited higher food and fuel prices, the ongoing U.S.-Iran war and a weak monsoon as key drivers of cost pressures.[1] The breach of the 4% target zone could complicate RBI’s monetary policy stance, which has emphasized keeping inflation within the 2–6% band with a 4% target.[1] Elevated food inflation, historically volatile in India, appears to be a major contributor amid weather-related disruptions. Rising fuel costs, partly influenced by global geopolitical tensions and oil market uncertainty, are adding to headline inflation. A sustained overshoot of the 4% target could delay expectations of rate cuts or trigger a more hawkish policy stance. The data will be closely watched by markets, policymakers and exam aspirants for macroeconomic implications.[1]

Try the question

Under India’s current inflation targeting framework, the RBI’s medium-term CPI inflation target is

🔒

4 more stories are waiting in the app

Every story with a summary, analysis and MCQs — in English and Hindi, every morning by 6:00 AM IST.

Today’s locked stories by topic

  • ECONOMY ×1
  • DEFENCE ×1
  • ENVIRONMENT ×1
  • GOVERNANCE ×1
Unlock all 6 storiesSee plans

Read all 6 stories and 12 MCQs

Summaries, analysis and questions for every story, every morning — in English and Hindi.

Open in the appRead on the web

Current Affairs by JobSafal