Current Affairs by JobSafalCurrent Affairsby JobSafal
हिंदी

Current Affairs 3 August 2026

In short

  • India removes import duty on key smartphone and electronics components
  • India’s consumer inflation in June likely breached RBI’s 4% target for first time in 16 months

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

Top stories

ECONOMY

India removes import duty on key smartphone and electronics components

The Government of India has scrapped import duties of 7.5% and 5% on certain parts used to manufacture mobile phones and other electronic devices.[1] This policy change is expected to significantly reduce input costs for smartphone manufacturers operating in India, including global firms like Apple and Xiaomi.[1] The move is aligned with the broader objective of strengthening domestic electronics manufacturing under the Make in India and Production-Linked Incentive (PLI) frameworks.[1] Lower duties on components can help deepen local value addition by making assembly and partial manufacturing more cost-competitive. It may also make India more attractive as a global manufacturing hub compared to other Asian economies. The decision comes amid concerns about inflation and the need to support industrial growth. Industry stakeholders are expected to respond with fresh investment and capacity expansion plans in the coming months.

Try the question

The recent government decision to scrap import duty on some smartphone parts removed which existing levy rates?

ECONOMY

India’s consumer inflation in June likely breached RBI’s 4% target for first time in 16 months

A Reuters poll of economists suggests 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 rise in inflation is attributed to higher food and fuel prices, compounded by a weak monsoon and geopolitical tensions such as the U.S.–Iran conflict adding to cost pressures.[1] Breaching the 4% target reopens the debate on the RBI’s future monetary policy stance, including interest rates and liquidity management. The inflation trajectory is crucial for household purchasing power and for government fiscal planning. It also has implications for bond yields, bank lending, and corporate investment decisions. If sustained, elevated inflation could constrain growth-supportive measures and force tighter policy responses.

Try the question

The Reserve Bank of India’s medium-term CPI inflation target mentioned in the report is

🔒

10 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

  • DIPLOMACY ×2
  • GOVERNANCE ×2
  • ECONOMY ×2
  • DEFENCE ×2
  • ENVIRONMENT ×2
Unlock all 12 storiesSee plans

Read all 12 stories and 24 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