Daily Current Affairs July 01

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July 01 | Daily Current Affairs 2026

Important Days – Daily Current Affairs July 01

1. National Doctors’ Day in India is celebrated on July 1 to commemorate the birth and death anniversary of which eminent physician and public leader?
A) Dr A P J Abdul Kalam
B) Dr Bidhan Chandra Roy
C) Dr Homi Bhabha
D) Dr C V Raman
E) Dr Verghese Kurien
Answer: B) Dr Bidhan Chandra Roy.

Event and Location:

• Event: India observed National Doctors’ Day 2026 to honour the dedication and services of doctors and healthcare professionals.
• Location: India.
• Date: July 1, 2026.

Mandates and Objectives:

• Mandates: The observance recognises the role of doctors in diagnosing illnesses, delivering life-saving treatment, supporting public health, and responding to health emergencies.
• Objectives: The day aims to honour medical professionals, promote accessible and quality healthcare, and highlight the physical and mental well-being of doctors.

Important Terms Explained:

• National Doctors’ Day: It is an annual observance in India dedicated to recognising the contributions of doctors and healthcare professionals to society.
• Behind the Mask: Who Heals the Healers?: It is the theme of National Doctors’ Day 2026, focusing on doctors’ mental health, emotional well-being, workplace stress, and professional burnout.
• Dr B.C. Roy National Award: It is one of India’s prestigious honours for medical professionals, named after Dr. Bidhan Chandra Roy.
• Bharat Ratna: It is India’s highest civilian award, conferred on Dr. Bidhan Chandra Roy in 1961 for his contributions to medicine and nation-building.

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2. CA Day 2026 commemorates the establishment of which statutory accounting body in India?
A) Securities and Exchange Board of India
B) Institute of Chartered Accountants of India
C) Reserve Bank of India
D) National Financial Reporting Authority
E) Insurance Regulatory and Development Authority of India
Answer: B) Institute of Chartered Accountants of India.

Event and Location:

• Event: India celebrated CA Day 2026, also known as Chartered Accountants Day, to mark the 77th Foundation Day of ICAI.
• Location: India.
• Date: July 1, 2026.

Mandates and Objectives:

• Mandates: The observance commemorates the establishment of ICAI under the Chartered Accountants Act, 1949, and recognises the role of Chartered Accountants in India’s financial system.
• Objectives: The day aims to honour the contribution of Chartered Accountants in financial governance, tax compliance, auditing, transparency, accountability, and economic growth.

Important Terms Explained:

• CA Day: It is observed every year on July 1 to commemorate the foundation of the Institute of Chartered Accountants of India.
• Institute of Chartered Accountants of India: It is India’s statutory accounting body established in 1949 to regulate the Chartered Accountancy profession and maintain professional and ethical standards.
• Chartered Accountants Act, 1949: It is the Act of Parliament under which ICAI was established as the regulatory body for the Chartered Accountancy profession in India.
• Chartered Accountants: They are finance professionals who work in auditing, taxation, financial reporting, corporate governance, advisory services, and business consulting.

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3. GST Day 2026 marked how many years of the implementation of Goods and Services Tax in India?
A) Seven years
B) Eight years
C) Nine years
D) Ten years
E) Eleven years
Answer: C) Nine years.

Event and Location:

• Event: India observed GST Day 2026, marking nine years of the implementation of Goods and Services Tax.
• Location: India.
• Date: July 1, 2026.

Mandates and Objectives:

• Mandates: The observance highlights the transformation of India’s indirect tax system through a unified tax framework that replaced multiple central and state taxes.
• Objectives: The reform aims to simplify taxation, reduce cascading taxes, improve compliance, strengthen cooperative federalism, and create a common national market.

Important Terms Explained:

• Goods and Services Tax: It is a destination-based indirect tax levied on the supply of goods and services in India.
• One Nation, One Tax: It refers to the GST vision of replacing multiple indirect taxes with a unified tax structure across India.
• GST 2.0: It refers to next-generation GST reforms approved during the 56th GST Council Meeting to simplify tax slabs, reduce compliance burden, and support taxpayers.
• Dual GST Model: It is the GST structure in which Centre and States levy taxes through CGST, SGST, and IGST.
• Goods and Services Tax Network: It is the digital platform that supports GST registration, return filing, e-invoicing, tax payments, and compliance processes.
• Input Tax Credit: It allows businesses to reduce tax liability by claiming credit for tax already paid on inputs used in business operations.

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Business and Economy – Daily Current Affairs July 01

4. India’s gross GST collection in June 2026 rose by 13.9% year-on-year to what amount?
A) ₹1.62 lakh crore
B) ₹1.71 lakh crore
C) ₹1.84 lakh crore
D) ₹1.95 lakh crore
E) ₹2.10 lakh crore
Answer: D) ₹1.95 lakh crore.

Event and Location:

• Event: India’s GST collections for June 2026 rose 13.9% year-on-year to ₹1,94,812 crore.
• Location: India.
• Date: July 1, 2026.

Mandates and Objectives:

• Mandates: The Ministry of Finance released June 2026 GST collection data showing strong growth in gross and net GST revenue.
• Objectives: The data highlights improved tax compliance, steady revenue generation, and the contribution of import-related GST to overall collections.

Important Terms Explained:

• Goods and Services Tax: It is an indirect tax levied on the supply of goods and services in India under a unified tax framework.
• Gross GST Collection: It refers to the total GST revenue collected before adjusting refunds.
• Net GST Collection: It refers to GST revenue remaining after refunds are adjusted from gross collections.
• Import GST: It refers to GST collected on imported goods and services, which contributed significantly to the June 2026 revenue growth.
• GST Refunds: These are amounts returned by the government to eligible taxpayers after claims are processed under GST rules.

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5. According to NSO data, India’s unemployment rate declined to what level in 2025?
A) 2.8%
B) 3.1%
C) 3.8%
D) 4.3%
E) 6.4%
Answer: B) 3.1%.

Event and Location:

• Event: India’s unemployment rate fell to an eight-year low of 3.1% in 2025.
• Location: India.
• Date: July 1, 2026.

Mandates and Objectives:

• Mandates: The National Statistics Office data reported a steady decline in India’s overall unemployment rate since 2017-18.
• Objectives: The data highlights employment generation trends, labour market participation, and India’s progress towards full and productive employment by 2030.

Important Terms Explained:

• National Statistics Office: It is India’s official statistical agency responsible for collecting, compiling, and releasing key socio-economic data.
• Unemployment Rate: It refers to the percentage of people in the labour force who are actively seeking work but are unable to find employment.
• Sustainable Development Goals: These are global development goals adopted by the United Nations, including the target of promoting full and productive employment.
• Urban Female Unemployment: It refers to joblessness among women in urban areas who are part of the labour force and are actively seeking employment.

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6. India’s fiscal deficit reached what percentage of the annual Budget Estimate during April-May FY2026-27?
A) 0.8%
B) 5.2%
C) 9.6%
D) 12.5%
E) 16.9%
Answer: C) 9.6%.

Event and Location:

• Event: India’s fiscal deficit widened sharply to ₹1.62 lakh crore during April-May FY2026-27.
• Location: India.
• Date: July 1, 2026.

Mandates and Objectives:

• Mandates: The Controller General of Accounts released fiscal data showing a sharp rise in the Centre’s fiscal deficit despite a record surplus transfer from the Reserve Bank of India.
• Objectives: The data aims to track government borrowing needs, revenue trends, expenditure patterns, and progress against the annual fiscal deficit target.

Important Terms Explained:

• Fiscal deficit: It is the gap between the government’s total expenditure and total receipts, excluding borrowings.
• Budget Estimate: It is the government’s projected estimate of revenue, expenditure, and deficit for a financial year.
• Controller General of Accounts: It is the authority responsible for maintaining and publishing the accounts of the Government of India.
• RBI dividend: It refers to the surplus transfer made by the Reserve Bank of India to the Central Government from its earnings.
• Capital expenditure: It refers to government spending on creating long-term assets such as infrastructure, roads, and public facilities.

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Appointments – Daily Current Affairs July 01

7. Who was reappointed as the Chairman of the Central Board of Direct Taxes for six months from July 1, 2026?
A) Tuhin Kanta Pandey
B) Ravi Agrawal
C) Sanjay Malhotra
D) Ajay Seth
E) Rajiv Gauba
Answer: B) Ravi Agrawal.

Event and Location:

• Event: Ravi Agrawal was reappointed as Chairman of the Central Board of Direct Taxes for another six months.
• Location: India.
• Date: July 1, 2026.

Mandates and Objectives:

• Mandates: The Appointments Committee of the Cabinet approved Ravi Agrawal’s reappointment on a contractual basis after his scheduled retirement on June 30, 2026.
• Objectives: The extension aims to ensure continuity in India’s direct tax administration, policy implementation, taxpayer services, and tax collection reforms.

Important Terms Explained:

• Central Board of Direct Taxes: It is the apex policy-making body for direct taxes in India and functions under the Department of Revenue, Ministry of Finance.
• Appointments Committee of the Cabinet: It is the high-level government body that approves senior appointments in the Government of India.
• Indian Revenue Service: It is a civil service responsible for administering direct and indirect tax systems through departments under the Ministry of Finance.
• Income-tax Act, 1961: It is the primary law governing income tax administration, assessment, collection, and compliance in India.

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8. Who assumed charge as India’s 31st Chief of Army Staff on July 1, 2026?
A) General Upendra Dwivedi
B) General Manoj Pande
C) General Dhiraj Seth
D) General M M Naravane
E) General Anil Chauhan
Answer: C) General Dhiraj Seth.

Event and Location:

• Event: General Dhiraj Seth assumed charge as India’s 31st Chief of Army Staff and unveiled the VIJAY vision.
• Location: India.
• Date: July 1, 2026.

Mandates and Objectives:

• Mandates: General Dhiraj Seth took charge of the Indian Army after succeeding General Upendra Dwivedi and introduced a roadmap for Army transformation.
• Objectives: The roadmap aims to build a technology-driven, modern, self-reliant, future-ready, and soldier-centric Indian Army.

Important Terms Explained:

• Chief of Army Staff: It is the professional head of the Indian Army responsible for its command, preparedness, administration, and operational readiness.
• VIJAY vision: It is General Dhiraj Seth’s transformation roadmap focusing on vigilance, innovation, jointness, self-reliance, and soldier welfare.
• Aatmanirbharta: It refers to self-reliance in defence technologies and indigenous defence manufacturing to strengthen India’s military capability.
• Jointness and Integration: It refers to closer coordination among the Army, Navy, and Air Force for improved operational effectiveness and national security.
• Yoddha First: It highlights the welfare, training, motivation, and support of soldiers, Agniveers, and veterans.

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Schemes – Daily Current Affairs July 01

9. The VB-G RAM G Act, 2025 increases the statutory rural wage employment guarantee from 100 days to how many days?
A) 110 days
B) 115 days
C) 120 days
D) 125 days
E) 150 days
Answer: D) 125 days.

Event and Location:

• Event: The VB-G RAM G Act, 2025 came into force to strengthen rural employment and livelihood security.
• Location: India.
• Date: July 1, 2026.

Mandates and Objectives:

• Mandates: The Act provides an expanded rural employment framework by increasing guaranteed wage employment from 100 days to 125 days for every eligible rural household.
• Objectives: The legislation aims to enhance livelihood security, create durable community assets, promote sustainable rural development, and ensure transparent governance.

Important Terms Explained:

• VB-G RAM G Act, 2025: It stands for Viksit Bharat – Guarantee for Rozgar and Ajeevika Mission Gramin Act, 2025, a rural employment framework focused on wage employment, livelihood security, and village development.
• Viksit Bharat @2047: It refers to the Government’s long-term vision of making India a developed nation by 2047 through inclusive growth and development.
• Self Help Groups: These are community-based groups, often involving women, that support livelihood generation, financial inclusion, and local development activities.
• Gramin Rozgar Guarantee Cards: These are employment-related cards to be issued under the new framework for eligible rural workers.

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National Affairs – Daily Current Affairs July 01

10. Which company signed an MoU with the Ministry of Tourism to strengthen the digital promotion of Indian tourism?
A) Meta India
B) Google India
C) Microsoft India
D) Amazon India
E) Adobe India
Answer: B) Google India.

Event and Location:

• Event: The Ministry of Tourism signed an MoU with Google India to enhance the digital visibility of Indian tourism destinations.
• Location: New Delhi, India.
• Date: July 1, 2026.

Mandates and Objectives:

• Mandates: The agreement creates a collaborative framework between the Ministry of Tourism and Google India for digital tourism promotion using advanced technologies.
• Objectives: The partnership aims to improve online discoverability, enhance visitor engagement, use data-driven insights, and promote India’s cultural, historical, spiritual, and natural attractions.

Important Terms Explained:

• MoU: It stands for Memorandum of Understanding, a formal agreement that outlines cooperation between two or more parties without necessarily creating binding legal obligations.
• Google India: It is the Indian arm of Google, involved in digital platforms, technology solutions, online search, marketing tools, and data-driven services.
• Artificial Intelligence: It refers to technology that enables machines and digital systems to analyse data, identify patterns, and deliver personalised user experiences.
• Incredible India: It is India’s flagship tourism promotion campaign aimed at showcasing the country’s culture, heritage, spirituality, nature, and travel destinations to domestic and global audiences.

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