August 2026 Daily News Current Affairs

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Aug 01, 2026
1. Cabinet Approvals (Aug 01, 2026) -
  1. General -
    1. Approved a new National Offshore Exploration Scheme named Samudra Manthan, as a Central Sector Scheme of the Ministry of Petroleum & Natural Gas, carrying outlay of ₹84,084 crores for implementation through FY 2030–31.
      1. It aims to de-risk offshore exploration, catalyse private investment, strengthen domestic production and build enduring national capability across the offshore exploration and production value chain.
      2. The scheme comprises four key components -
        
        Acquisition and processing of modern offshore seismic data with an outlay of ₹28,534 crore
        
        Drilling of 60 deepwater exploration wells with an allocation of ₹43,200 crore, including Government support of up to 50% of eligible drilling cost or ₹675 crore per well (whichever is lower)
        
        Development of common offshore infrastructure hubs with an outlay of ₹10,000 crore to facilitate commercialisation of discoveries
        
        Establishment of Oil and Gas Manufacturing and Services Zones with an outlay of ₹2,000 crore to promote domestic manufacturing and localisation of critical equipment and services
      3. Notably -
        
        India is world's third-largest consumer of crude oil, with an annual import bill of nearly USD 144 billion (approximately ₹13 lakh crores).
        
        Amid recent geopolitical developments, importance of secure and uninterrupted access to energy resources has become more critical for Indian economy.
        
        Samudra Manthan Scheme aims to increase India's domestic oil and gas production from around 62 MMTOE to 80 MMTOE annually and expand the country's hydrocarbon resource base from 1.6 billion TOE to 2.2 billion TOE. The additional production has the potential to reduce crude oil imports by nearly ₹1 lakh crore annually.
2. Aug 01 is observed as Muslim Women’s Rights Day in India, to mark enactment of law that made Triple Talaq a criminal offence. Triple Talaq Bill was passed by Both houses in July 2019. The day is observed since 2020.
3. Aug 01 is observed annually as World Wide Web Day, to mark ability of people to browse information freely using the Web.
  1. WWW was created by English computer scientist Tim Berners Lee in 1989, while he was working for European Organization for Nuclear Research (CERN). He developed essentials of the web - HTTP, HTML, the WorldWideWeb browser, a server, and first website.
4. Home Minister Amit Shah presented Lokmanya Tilak National Award 2026 to National Security Advisor Ajit Doval.
  1. About -
    1. The Lokmanya Tilak National Award is an annual honour given to people with great contributions for progress and development of India. It is named after famous freedom fighter Lokmanya Bal Gangadhar Tilak. The award was started in 1983 by the Tilak Smarak Mandir Trust in Pune (Maharashtra).
    2. The award is conferred every year on August 1st, which is the death anniversary of Lokmanya Tilak. It included a cash prize of ₹1 lakh. In 2025, the award was conferred upon Road Transport and Highways Minister Nitin Gadkari.

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August 2026 Daily News Current Affairs

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