Abishek A
UPSC content author · 10 articles
Articles by Abishek A
MSME Development (Amendment) Bill, 2026: Parliament Modernises MSMED Act After 20 YearsParliament has passed the Micro, Small and Medium Enterprises Development (Amendment) Bill, 2026 — the first comprehensive amendment to the MSMED Act, 2006 in its twenty-year history. It mandates digital registration via the Udyam Portal, requires Central PSEs to route payments through TReDS, fast-tracks dispute resolution within 90 days, and decriminalises minor procedural defaults.Bankers' Books Evidence Bill, 2026: India Repeals 135-Year-Old Colonial Banking LawThe Lok Sabha passed the Bankers' Books Evidence Bill, 2026 on 5 August 2026, repealing the 135-year-old Bankers' Books Evidence Act, 1891. The new law expands the definition of "bankers' books" to cover digital, cloud-based, and electronic records, and makes certified copies of such records admissible as prima facie evidence in courts, arbitrations, and regulatory investigations.Taxation and Other Laws (Amendment) Bill, 2026: Electronics Manufacturing, Digital Payments and Fund Management ReformsThe Lok Sabha passed the Taxation and Other Laws (Amendment) Bill, 2026 on 6 August 2026, replacing the Income-tax (Amendment) Ordinance, 2026. The Bill extends electronics manufacturing tax exemptions to 2041, delists data centre conditions, delinks fee-free digital payments from the Income-tax Act, and rationalises fund management and diamond trading tax provisions to attract foreign investment and support domestic manufacturing.84th Anniversary of Quit India Movement: August Kranti Diwas and India's Path to Freedom (1942–2026)India observed the 84th anniversary of the Quit India Movement on 9 August 2026 — August Kranti Diwas. Launched on 9 August 1942 when the British arrested Mahatma Gandhi and the entire Congress leadership hours after the historic "Do or Die" resolution, the movement became a leaderless mass uprising that marked the beginning of the end of British colonial rule in India.India Successfully Test-Fires Agni-4 Ballistic Missile from Chandipur, OdishaIndia successfully test-fired the Agni-4 medium-range ballistic missile from the Integrated Test Range (ITR) at Chandipur, Odisha, on August 6, 2026. The test was conducted by the Strategic Forces Command (SFC) and the Defence Research and Development Organisation (DRDO) and validated all operational and technical parameters. Agni-4 is a two-stage, solid-fuel, nuclear-capable missile with a strike range of approximately 4,000 km.12th National Handloom Day 2026: President Honours 22 Weavers at Rashtrapati BhavanIndia observed the 12th National Handloom Day on August 7, 2026, at the Rashtrapati Bhavan Cultural Centre (RBCC) in New Delhi. President Droupadi Murmu was the Chief Guest and honoured 22 weavers at the national function. The day commemorates the Swadeshi Movement launched on August 7, 1905 at Calcutta Town Hall and recognises the contribution of over 35.22 lakh handloom weavers and allied workers, more than 72% of whom are women.GOBARdhan National Circular Bioenergy Scheme: Cabinet Approves ₹23,731 Crore for Compressed BiogasThe Union Cabinet on August 6, 2026 approved the National Circular Bioenergy Scheme — GOBARdhan — with a ₹23,731 crore outlay over FY 2026–27 to FY 2035–36. The scheme consolidates India's fragmented biogas policy into a single framework to achieve tenfold growth in compressed biogas (CBG) production, providing guaranteed pricing, capital assistance, and assured offtake for ten years.UPI Hits Record 23.66 Billion Transactions in July 2026 — ₹29.88 Lakh Crore in ValueIndia's Unified Payments Interface (UPI) processed a record 23.66 billion transactions worth ₹29.88 lakh crore in July 2026, according to data released by the National Payments Corporation of India (NPCI). This surpassed the previous monthly volume record of 23.20 billion set in May 2026. Transaction volume grew 22% year-on-year and 4.1% month-on-month, without any major festival or quarter-end activity to drive the surge.Supreme Court Issues Nationwide Directions on Digital Arrest Scams; Directs RBI to Frame Mule Account SOPThe Supreme Court of India, on August 5, 2026, issued a fresh set of nationwide directions to strengthen the response to digital arrest scams and cyber-enabled financial fraud. The bench of Chief Justice Surya Kant and Justices Joymalya Bagchi and V. Mohana directed the Reserve Bank of India (RBI) to frame and circulate a Standard Operating Procedure (SOP) for dealing with mule accounts and money laundering-linked bank accounts within four weeks.India Records Highest-Ever Monthly EV Sales in July 2026 — 3.28 Lakh Units, Up 66% YoYIndia registered its highest-ever monthly electric vehicle (EV) retail sales of 3,27,901 units in July 2026, up 66% year-on-year, according to data released by the Federation of Automobile Dealers Associations (FADA). Electric vehicles now account for approximately one in every eight vehicles sold in India. Electric two-wheelers crossed the two-lakh mark for the first time, while electric passenger vehicles grew 83% year-on-year.