Daily Current Affairs|3 August 2026

Key Details

• Tax devolution is the share of the Centre's divisible pool of taxes that is transferred to the States.

• The current devolution share is 41% of the divisible pool, based on the recommendation of the 15th Finance Commission.

• The additional release gives States more funds for development and other expenditure without waiting for the normal monthly instalment.

Key Details

• A palaeontologist with over three decades of experience, she joined GSI in 1992 after a stint with the Indian Bureau of Mines (IBM).

• She succeeds Asit Saha, who served as Director General for two years.

• Previously, she served as Additional Director General and Head of Department for the Eastern Region in Kolkata.

Who is Alka Nangia Arora?

• She brings over three decades of experience in financial management.

• The CGDA heads the Defence Accounts Department (DAD) under the Ministry of Defence.

• It acts as the internal auditor and financial adviser for the Ministry, handling the payment and accounting for the Armed Forces (Army, Navy, and Air Force). The office is headquartered in New Delhi.

Key Points

• The Schengen Area normally allows people to travel between participating European countries without routine internal border checks.

• Italy has temporarily restored passport and identity checks for travellers arriving from Spain by air and sea.

• The move followed the arrival of thousands of migrants into Ceuta from Morocco, raising concerns over onward movement into Europe.

Key Details

• The country's short-form name is now Naoero, and its citizens are referred to as dei-Naoero. The change was formalized through a constitutional amendment passed by parliament in May 2026.

• The name Nauru was a colonial-era alteration of the indigenous name Naoero, adopted by European colonizers who found the original pronunciation difficult.

Exam Connect

• The native language, dorerin Naoero, is classified as "severely endangered" by UNESCO.

• Naoero remains the world's third-smallest country by land area, after Vatican City and Monaco.

• It is a single coral island in the Central Pacific with a population of about 12,000, and is a member of the United Nations and the Commonwealth of Nations.

What is PM-KISAN Scheme?

• Under PM-KISAN, eligible farmer families receive ₹6,000 per year in three equal installments of ₹2,000, transferred directly to their bank accounts via Direct Benefit Transfer (DBT).

• The scheme, launched in February 2019, is a Central Sector Scheme with 100% central funding. So far, over ₹4.47 lakh crore has been released through 23 installments, benefiting 9.49 crore farmers in the latest round.

• Notably, women farmers have received over ₹1.06 lakh crore, making up nearly one in four beneficiaries.

How is Khelo India Scheme?

• The Khelo India programme and assistance to National Sports Federations (NSFs) together received ₹36,441 crore for five years, nearly eight times the previous allocation.

• This funding aims to connect grassroots talent to the Target Olympic Podium Scheme (TOPS) through a structured pathway.

• The programme, launched in 2018, includes events like the Khelo India Youth Games, University Games, and Winter Games, and is managed by the Ministry of Youth Affairs and Sports.

What does the scheme offer?

• The scheme targets 5,000 MW of floating solar photovoltaic capacity and energy storage systems with a minimum two-hour capacity (10,000 MWh).

• Projects will be sanctioned between FY 2026-27 and FY 2030-31, with financial support extending to FY 2032-33.

• Central Financial Assistance of ₹1 crore per MW is provided after commissioning, plus up to ₹50 lakh per project for feasibility studies like bathymetry and hydrography.

• The initiative is expected to cut CO₂ emissions by about 10 million tonnes annually and create 16,000–17,000 full-time equivalent jobs.

Why floating solar?

• Floating solar uses reservoirs and industrial ponds, avoiding the need for large land acquisition, a key advantage in land-scarce India.

• India's current operational floating solar capacity is around 700 MW, while the National Institute of Solar Energy estimates the potential at 102.18 GWp across inland water bodies.

• The scheme aligns with India's renewable energy goals by combining solar generation with storage to ensure grid stability.

Key Details

• PM-KISAN

  • Launched in 2019

  • Under PM-KISAN, eligible farmer families receive ₹6,000 per year in three equal installments of ₹2,000, transferred directly to their bank accounts via Direct Benefit Transfer (DBT).

  • The scheme is a Central Sector Scheme with 100% central funding, ensuring timely support for purchasing seeds and other inputs at the start of crop cycles.

• Khelo India

  • Launched in 2018

  • Managed by Ministry of Youth Affairs and Sports, includes Youth Games, University Games, Winter Games

  • This expansion aims to connect grassroots talent to the Target Olympic Podium Scheme (TOPS) through a structured pathway, strengthening India's sporting ecosystem.

  • Andhra Pradesh has specifically sought ₹1,000 crore for state-specific sports projects under this scheme.

What does the scheme include?

• The scheme allocates ₹43,200 crore for drilling 60 deepwater exploration wells. The government will cover up to 50% of eligible drilling costs, with a maximum subsidy of ₹675 crore per well.

• The goal is to catalyze reserves exceeding 600 million metric tonnes of oil equivalent (MMTOE), which would significantly boost India's domestic hydrocarbon production.

• ONGC has already commenced drilling the first deepwater well in the Mahanadi basin under this mission.

Why is this important for India?

• India is the 3rd largest consumer of energy and oil globally, yet it relies heavily on imports. This scheme is a strategic push to reduce import dependency through Open Acreage Licensing Policy (OALP) and enhanced domestic exploration.

• ONGC, India's largest crude oil and natural gas company, is the key implementing agency. It holds Maharatna status and is headquartered in New Delhi.

What are the key highlights?

• The airport, built under a Public-Private Partnership, is the first greenfield international airport in Andhra Pradesh since the 2014 bifurcation.

• A performance by over 13,000 tribal dancers at the venue set a Guinness World Record for the largest Dhimsa dance.