1 Former RBI Governor Raghuram Rajan appointed to US Federal Reserve task force
On July 16 , former RBI Governor Raghuram Rajan was appointed to a task force of the US Federal Reserve . This is a five-member high-level review task force. This task force will analyze the structure of US monetary policy . The task force will review the Federal Reserve’s monetary policy, data analysis, artificial intelligence (AI), and balance sheet structures. Raghuram Rajan will be part of the panel reviewing balance sheet policy. Indian-origin experts will also review the structure of data, productivity, and inflation. The task force aims to improve Federal Reserve policy for future economic challenges. Raghuram Rajan is a former Governor of the Reserve Bank of India and a professor at the University of Chicago Booth School of Business. Indian-origin Raj Chetty, an economist at Harvard University, will lead the data task force . Indian-origin Asha Sharma, an executive vice president at Microsoft, will work on productivity within the task force . The task force also includes former Bank of England Governor Mervyn King, former Walmart CEO Doug McMillon, and Nobel Prize winner Thomas Sargent. Kevin Warsh recently became chairman of the US Fed. The US Federal Reserve is the central bank of the United States, commonly referred to as the “Fed.”
On July 15 , the central government approved two road projects worth ₹25,445.96 crore . These projects will construct two elevated corridors in Varanasi, totaling 89.26 kilometers . One corridor will be built along the Varuna River, spanning 43.21 kilometers . This project will be developed on a hybrid annuity model (HAM) and will cost an estimated ₹10,998.32 crore. The new corridor will provide direct and fast connectivity between NH-31 and Kashi Railway Station . The cabinet will also develop a 46-kilometer greenfield corridor from NH-19 to the Ring Road . The Ganga Elevated Corridor will be a six-lane elevated road parallel to the Ganga River . It will connect National Highway 19 (NH-19) to the Varanasi Ring Road. This corridor will facilitate access to Assi Ghat, Manikarnika Ghat, Namo Ghat, and Kashi Vishwanath Dham.
On July 15 , the central government approved the National Investment Policy for Urea-2026 (NIPU-2026) . The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi , approved the policy. Its objective is to promote investment in new gas-based urea plants in the country, increase domestic production, and reduce dependence on imports. Currently, there are 33 urea production units in the country , with a total capacity of approximately 269.42 lakh metric tons (LMT) . The new investment policy will cover all new gas-based urea manufacturing units in the country. The government has established a return on equity (ROE) of between 12 and 16 percent for investors . Furthermore, fixed and variable costs will be separated, making costing more transparent. The government estimates that these changes will result in savings of over ₹250 crore per urea plant established under the new policy compared to the old policy. Previously, six new urea plants were established under the National Investment Policy implemented in 2012. Four of these units were in the public sector and two in the private sector. The new policy will increase the number of gas-based urea plants in the country and boost domestic production. Under this policy, eight to nine new urea plants will be established, which are expected to add a total production capacity of 10 million tons (10 million metric tons).
On July 15 , External Affairs Minister Dr. S. Jaishankar visited Brussels (Belgium) . In Brussels, the capital of Belgium , he met with European Council President Antonio Costa . The India-EU Free Trade Agreement (FTA) was discussed at the meeting. negotiations. The two leaders discussed in detail how to strengthen the India-EU strategic partnership. Jaishankar was accompanied by Union Commerce and Industry Minister Piyush Goyal and Minister of State for Electronics and Information Technology Jitin Prasada. Ajay K. Sood, Scientific Advisor to the Government of India, was also present. During the visit, discussions focused on the current situation in West Asia, the need for maintaining peace and stability in the region, and safe and uninterrupted maritime trade. Further discussions focused on advancing the India-EU strategic partnership and strengthening and strengthening global supply chains. Jaishankar discussed issues related to India-EU trade and investment, technology, supply chains, clean energy, and regional security. The two sides also discussed the Indo-Pacific, the Ukraine crisis, the situation in West Asia, and other global and regional security issues. The European Union (EU) is a political and economic forum of 27 European countries. Its main objectives are free trade among member states, the use of a common currency (the euro), and the maintenance of regional peace.
The Rath Yatra of Lord Jagannath, Lord Balabhadra, and Goddess Subhadra begins in Puri, Odisha . During the world-famous Rath Yatra, Lord Jagannath and his siblings, seated on chariots, offer darshan to devotees, en route to the Sri Gundicha Temple , believed to be the residence of Lord Jagannath’s maternal uncle. This approximately 3-kilometer journey will conclude at the Sri Gundicha Temple. Lord Jagannath, Lord Balabhadra, and Goddess Subhadra stay at the Gundicha Temple for nine days. After completing the journey, they return to the Sri Temple on the same chariots, which is called the ” Bahuda Yatra, ” or return Rath Yatra. A large number of devotees participate in this Rath Yatra. A multi-layered security system has been put in place to ensure the smooth conduct of the Yatra.
The Supreme Court has directed all states and union territories to formulate and implement a comprehensive policy for the early or premature release of prisoners who are old or terminally ill . The court ordered the policy to be notified within three months to ensure a uniform mechanism for considering such cases across the country. A bench of Justices Vikram Nath and Sandeep Mehta issued the order under Article 142 of the Constitution. of the Constitution , issued these directions while hearing a public interest litigation seeking a humane and uniform framework for the release of elderly and terminally ill prisoners. The Supreme Court directed that the entire process of considering applications for early or premature release be integrated with the e-prison portal to ensure transparency and accountability.
7 Indian Navy to host Operation ‘Southern Readiness 26-2’ in Kochi from July 20
The Indian Navy will conduct Operation Southern Readiness 26-2 from 20 to 23 July 2026 at the Southern Naval Command in Kochi . This four-day multinational maritime training exercise will be conducted in collaboration with the Combined Maritime Forces (CMF). The exercise will be conducted by the Indian Navy-led Combined Task Force 154 (CTF 154). , the training wing of the CMF. Naval personnel from various countries associated with the CMF will participate and exchange maritime security, training techniques and best practices. The CMF is a multinational maritime security organisation of over 40 countries, through cooperation with which the Indian Navy is strengthening regional maritime capacity building and collective security.
8 ICAR’s 98th Foundation Day: 386 new crops developed in one year
The Indian Council of Agricultural Research (ICAR), on the occasion of its 98th Foundation Day, reported that 386 new and improved varieties of 44 crops have been developed in the past year . Of these, 94 percent are climate-resilient , while 29 varieties are biofortified. At the event, ICAR released 43 new crop varieties, 17 new agricultural technologies, and 14 publications . These include new rice varieties for saline and alkaline soils, mango production technologies for export, India’s first indigenous African swine fever vaccine, a digital swine disease atlas, and a low-cost cassava harvester machine for small farmers. Furthermore, ICAR signed 72 Memorandums of Understanding (MoUs) with 51 industry partners to accelerate the dissemination of its technologies to farmers. ICAR Foundation Day, celebrated annually on July 16 , commemorates the Council’s founding in 1928 . Over the last 98 years, ICAR has played a vital role in strengthening the agricultural research, education and extension system, promoting technological innovations, increasing agricultural productivity and ensuring food and nutrition security.
9 Devjit Saikia appointed chairman of ICC Governance Review Committee
Board of Control for Cricket in India (BCCI) Secretary Devajit Saikia has been appointed Chairman of the ICC’s newly formed Governance Review Committee. He has also been appointed a member of the ICC Franchise Leagues Committee . BCCI President Mithun Manhas congratulated Saikia on this achievement. At the ICC’s Annual Meeting in Edinburgh, Scotland, the Board approved the formation of two new sub-committees. Devajit Saikia has been appointed Chairman of the Governance Review Committee. The Governance Review Committee includes Dr. Mohammad Moosajee of Cricket South Africa and Dr. Rose Riwaj , an ICC independent director . The ICC Franchise Leagues Committee will be chaired by Bangladesh Cricket Board President Tamim Iqbal, while Saikia will serve as a member.
10 Annual Kang Chingba festival celebrated with reverence and enthusiasm in Manipur
Thousands of devotees participated in the annual Kang Chingba festival in Manipur . The historic Sri Sri Govindajee Temple in Imphal witnessed a massive crowd of devotees. Devotees pulled the traditional chariots of Lord Jagannath, Lord Balabhadra, and Goddess Subhadra , offering prayers and singing hymns. This centuries-old festival, which originated in Manipur during the reign of Maharaja Gambhir Singh, is one of the most important religious and cultural events in the state.
11 ASW-SWC warship ‘Malvan’ to be inducted into Navy
The Indian Navy will formally commission the second Mahe-class anti – submarine shallow water warfare (ASW-SWC) ship, ‘ Malvan ‘, into its fleet on 22 July 2026. The warship is built with over 80% indigenous content and is considered a symbol of the growing capability of indigenous defence manufacturing under the Atmanirbhar Bharat Abhiyan. Kochi -based Cochin Shipyard Limited , Malvan exemplifies India’s growing technological capabilities in modern warship construction and design.
12 My Bharat National Youth Volunteer Conference to be held in Lucknow
The Department of Youth Affairs, Ministry of Youth Affairs and Sports will organize the ” My Bharat ” National Youth Volunteer Convention on July 17, 2026, in Lucknow, the capital of Uttar Pradesh . This will be followed by a two-day Chintan Shivir on July 18 and 19 at the Indira Gandhi Pratishthan . The objective of these events is to strengthen youth participation at the grassroots level, enhance institutional coordination, and develop a youth-led action plan in line with the vision of a developed India @ 2047. Dr. Mansukh Mandaviya, Union Minister for Youth Affairs and Sports and Labour and Employment, will be present at the inaugural sessions of both events.
13 Law Minister Arjun Ram Meghwal launched the e-VSP portal.
Union Law and Justice Minister Arjun Ram Meghwal on Tuesday launched the e-VSP portal of Vidhi Sahitya Prakashan (VSP) at Kartavya Bhawan-2 in New Delhi . This portal will now make available online important Supreme Court and High Court judgments, legal journals, reference books and other legal literature in Hindi. This portal will provide lawyers, judicial officers, teachers, students, researchers and common citizens easy access to legal content in Hindi from any part of the world.
14 Wrestling: Aman Sehrawat wins gold medal in the Polyak Imre, Varga Janos and Kozma Istvan Memorial Tournament
India’s Aman Sehrawat won the gold medal in the men’s freestyle 57 kg category on the opening day of the Polyak Imre, Varga Janos and Kozma Istvan Memorial 2026 wrestling tournament in Budapest, Hungary . Deepak in the men’s 61 kg category and Vishal Kaliramna in the 65 kg category won bronze medals to take India’s medal tally to three on the opening day of the competition. India’s campaign will continue with the men’s freestyle 79 kg, 92 kg, 97 kg and 125 kg weight categories as well as the women’s wrestling 50 kg and 55 kg weight categories. This is the fourth tournament of the season and the final tournament of the United World Wrestling Rankings series.