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Current Affairs 28 July 2026

In short

  • Centre scraps import duty on key mobile phone and electronics parts
  • Consumer inflation likely breached 4% RBI target in June amid food and fuel rise

…and 10 more stories on INFRASTRUCTURE, ECONOMY, DEFENCE, GOVERNANCE.

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ECONOMY

Centre scraps import duty on key mobile phone and electronics parts

The Union government has removed import duties on several components used in manufacturing mobile phones and other electronic devices in India.[1] The previous duties of 7.5% and 5% on these parts have been scrapped to reduce production costs for manufacturers.[1] This move is expected to benefit global companies such as Apple and Xiaomi that assemble devices in India, as well as domestic contract manufacturers.[1] The decision aligns with the government’s broader objective of boosting local electronics manufacturing and positioning India as a global hub. It may also support export competitiveness by lowering input costs. The policy change could impact customs revenue in the short term but is aimed at increasing overall economic activity in the sector.[1] Industry reactions are expected to focus on how this affects pricing, investment, and supply chain decisions.

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The recent removal of import duties on certain mobile phone parts primarily aims to

ECONOMY

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

A Reuters poll of economists indicates that India’s consumer inflation in June likely exceeded the Reserve Bank of India’s medium‑term target of 4% for the first time in 16 months.[1] The anticipated rise is attributed to higher food and fuel prices, exacerbated by a weak monsoon and global geopolitical tensions including the U.S.–Iran war.[1] The inflation uptick comes after a period of relative stability, posing questions for the RBI’s interest rate stance. If confirmed by official data, the development could influence future monetary policy decisions and liquidity management. It may also affect household purchasing power, especially for lower‑income groups sensitive to food and energy costs. The divergence from the 4% target underscores the challenges of balancing growth and price stability in the current macroeconomic environment.[1] Analysts will closely watch subsequent data to see whether the rise is transient or marks a more persistent trend.

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The Reserve Bank of India’s medium‑term target for consumer inflation is

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Current Affairs by JobSafal