National Affairs
US Tariffs on Indian Goods Take Effect
United States implements additional 25% tariffs on Indian goods effective from August 27, 2025, bringing total tariff burden to 50% on most Indian exports
Tariffs affect wide range of products including textiles, gems and jewelry, leather goods, machinery, furniture and marine products
Pharmaceuticals, electronics, automobiles and some metals exempted from additional duties
Indian rupee falls for fifth consecutive session amid tariff concerns
Exporters estimate tariffs could affect 55% of India’s $87 billion merchandise exports to US
Prime Minister Modi Launches Suzuki’s e-VITARA Export Initiative
PM Modi flags off Maruti Suzuki’s first global battery electric vehicle e-VITARA from Gujarat’s Hansalpur plant on August 26
Made-in-India BEV to be exported to over 100 countries including Europe and Japan
PM also inaugurates localized production of hybrid battery electrodes at TDS Lithium-Ion Battery plant
Over 80% of battery value now manufactured within India
Initiative reinforces India’s position as global hub for green mobility
Indian Navy Commissions Two Advanced Stealth Frigates
INS Himgiri and INS Udaygiri commissioned simultaneously on August 26 at Visakhapatnam
First time two major warships from different shipyards commissioned together
Himgiri built by Garden Reach Shipbuilders (Kolkata), Udaygiri by Mazagon Dock (Mumbai)
Both frigates feature 75% indigenous content under Project 17 Alpha
Ships equipped with advanced stealth technology, BrahMos missiles and Barak-8 air defense systems
Banking Sector Holiday Observances
Banks remain closed in multiple states on August 27 for Ganesh Chaturthi celebrations
Closure affects Gujarat, Maharashtra, Karnataka, Odisha, Tamil Nadu, Telangana, Goa and Andhra Pradesh
Digital banking services including UPI, net banking and ATMs continue functioning normally
Stock exchanges BSE and NSE also closed for Ganesh Chaturthi
RBI Monetary Policy Update
Reserve Bank maintains repo rate at 5.50% during August 4-6 MPC meeting
Standing Deposit Facility rate held at 5.25%, MSF and Bank Rate at 5.75%
RBI reduces inflation forecast for FY26 to 3.1% from 3.7%
GDP growth projection maintained at 6.5% for FY26
Government Scheme Launches
PM Viksit Bharat Rozgar Yojana (PM-VBRY) becomes effective from August 1, 2025
Scheme targets creation of 3.5 crore jobs over two years with Rs 99,446 crore outlay
Focus on manufacturing sector with benefits for first-time workers and employers
International Affairs
Global Diplomatic Developments
Trump expresses willingness to impose economic sanctions on Russia if Putin fails to agree ceasefire
Israel-Gaza conflict continues with international condemnation of strikes on hospital killing journalists
Xi Jinping to host PM Modi and Putin at upcoming SCO Summit amid tariff pressures
Australia expels Iranian ambassador over anti-Semitic arson attacks
SpaceX Starship Test Flight
Elon Musk’s SpaceX launches tenth Starship test flight to overcome development setbacks
Mission aims to achieve key technical milestones for reusable Mars rocket design
International Incidents
Helicopter crash during training flight on Isle of Wight kills three people
Powerful storms create dust wall in Phoenix, leaving thousands without power
Mass evacuations in eastern Pakistan due to water releases from Indian dams
Sports Highlights
Asian Shooting Championship Success
India leads medal tally with over 50 medals at 16th Asian Shooting Championship in Kazakhstan
Sift Kaur Samra wins gold in women’s 50m rifle 3-positions event
India clinches women’s 50m rifle team gold with Samra, Anjum Moudgil and Ashi Chouksey
Neeru Dhanda captures gold in women’s trap event
Commonwealth Weightlifting Championship Triumph
Mirabai Chanu wins gold at 2025 Commonwealth Weightlifting Championships in Ahmedabad
Lifts total of 193kg setting new championship records in snatch (84kg) and clean & jerk (109kg)
Victory secures direct qualification for Glasgow 2026 Commonwealth Games
Marks successful comeback after disappointing Paris 2024 Olympics performance
Cricket and Other Sports Updates
BCCI parts ways with long-serving team masseur Rajeev Kumar
Virat Kohli thanks Cheteshwar Pujara for partnership contributions
Suryakumar Yadav details successful rehabilitation after third surgery in three years
FIFA warns AIFF to adopt constitution or face suspension by October 30
Environment and Natural Disasters
Kilauea Volcano Activity
Hawaii’s Kilauea volcano erupts for 31st time since December 2024
Lava fountains reach heights up to 100 feet during Episode 31 eruption
Eruption remains confined to summit crater posing no threat to homes
Activity lasted approximately 12.6 hours before ending on August 23
Weather and Climate Events
Heavy rainfall causes landslides and flash floods in Jammu & Kashmir
Punjab government declares school holidays from August 27-30 due to heavy rains and flood alerts
Multiple states experience monsoon-related disruptions affecting normal life
Science and Technology
Archaeological Discovery
Researchers discover rare Jurassic-era fossil in Rajasthan village
Find contributes to understanding of ancient geological formations in India
Space and Innovation
Government launches National Geospatial Mission to develop foundational data infrastructure
PM Gati Shakti portal provides enhanced access for private sector project planning
Economic Updates
Market and Financial Developments
General Motors recalls over 23,500 Chevrolet Corvette vehicles in US over fuel leak issues
Korean Air announces $50 billion deal to purchase more than 100 Boeing aircraft
GST reforms being fast-tracked to boost festive season consumption
Employment and Labor
New scheme introduced for 5 lakh first-time entrepreneurs from SC/ST and women categories
Term loans up to Rs 2 crore available for next five years under entrepreneur scheme
Education and Cultural Affairs
Academic Initiatives
PM Research Fellowship scheme provides 10,000 fellowships over five years for IISc and IIT research
UGC releases draft Learning Outcomes-based Curriculum Framework integrating Indian Knowledge Systems
Festival Celebrations
Ganesh Chaturthi celebrations lead to widespread closures across western and southern India
Cultural observances reflect regional diversity and traditional practices
