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Daily Current Affairs – 7 August, 2026

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    National Handloom Day 2026

    Context

  • On the 12th National Handloom Day, the GoI recognised the contribution of the handloom sector of India in attaining the vision of Viksit Bharat 2047 by converging the cultural heritage with sustainable economic growth.

    • About National Handloom Day 

  • National Handloom Day is celebrated annually on 7 August. It commemorates the launch of the Swadeshi Movement in 1905, which promoted indigenous goods and encouraged self-reliance.
  • The Government of India declared 7th August as National Handloom Day in 2015.
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    Govt. Opposes Income-Based Creamy Layer in SC/ST Quotas

    Context

  • The government told the Supreme Court of India that the concept of a "creamy layer" cannot be extended for the reservation of the Scheduled Caste and Scheduled Tribes categories.

    • About

  • Background: Petitions were filed in the Supreme Court seeking a creamy-layer exclusion within the reserved categories of Scheduled Castes (SCs) and Scheduled Tribes (STs) as in the Other Backwards Classes (OBC).
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    Indian Foreign Secretary held Talks with Sri Lankan President

    Context

  • India and Sri Lanka have agreed to take forward the negotiations on updating the Free Trade Agreement and will sign the Social Security pact soon.

    • Major Highlights

  • The discussions between the visiting Indian Foreign Secretary and Sri Lankan President focused on issues of mutual interest and review of key bilateral projects.
  • Both sides exchanged agreements on INR-denominated Lines of Credit for USD 350 million, which form part of the USD 450 million reconstruction package extended by India in the wake of Cyclone Ditwah.
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    National Circular Bioenergy Scheme (GOBARdhan Scheme)

    Context

  • Recently, the Union Cabinet has approved the National Circular Bioenergy Scheme (GOBARdhan – Galvanising Organic Bio-Agro Resources Dhan) with a total outlay of ₹23,731 crore.

    • What is the GOBARdhan Scheme?

  • The National Circular Bioenergy Scheme is designed to build a strong environment for CBG production, managed pricing mechanism, capital subsidies, pipeline infrastructure support, and easier access to finance.
  • It is meant to catalyse domestic CBG output to over 10 times, creating a stable and predictable investment environment for the sector.
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    News In Short 07-08-2026

    Context

  • The Rajya Sabha passed the Appropriation Bill, 2026, authorising ₹54,067.44 crore from the Consolidated Fund of India toward Excess Grants for expenditure incurred in FY 2022–23.

    • What is the Appropriation Bill?

  • The Appropriation Bill is introduced under Article 114 of the Constitution of India to authorise the withdrawal of funds from the Consolidated Fund of India to fulfil government expenditure.
  • It deals with appropriation of funds already voted by the Lok Sabha and charged expenditure, as authorised under Article 114(3).
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