Daily Current Affairs 4 August 2026

Q1 Who is expected to introduce the Bill proposing easier tax rules for offshore funds in the Lok Sabha?

• APrime Minister Narendra Modi
• BFinance Minister Nirmala SitharamanCorrect
• CMinister of Commerce Piyush Goyal
• DMinister of Finance Arun Jaitley

Explanation The Bill is expected to be introduced by Finance Minister Nirmala Sitharaman in the Lok Sabha.

Q2 What is the main objective of the proposed reforms related to offshore funds?

• ATo increase tax rates on foreign investments
• BTo simplify investment rules and attract more foreign capitalCorrect
• CTo ban offshore funds managed from India
• DTo reduce domestic investment opportunities

Explanation The reforms aim to simplify investment rules, strengthen tax certainty, and attract more overseas fund managers and foreign capital.

Q3 Which legislative body is the Bill on easing tax relief for offshore funds expected to be introduced in?

• ARajya Sabha
• BLok SabhaCorrect
• CState Legislative Assembly
• DFinance Commission

Explanation The Bill is expected to be introduced in the Lok Sabha.

Q1 What was the main reason for the slowdown in India's manufacturing activity in July 2026 according to the HSBC PMI?

• ASharp moderation in new ordersCorrect
• BIncrease in inflationary pressures
• CDecline in export demand
• DRise in employment levels

Explanation The slowdown was mainly due to a sharp moderation in new orders, which curbed input purchasing.

Q2 Which of the following factors showed improvement despite the slowdown in India's manufacturing sector in July 2026?

• AExport demand strengthenedCorrect
• BNew orders increased
• CInflationary pressures intensified
• DSupplier delivery times lengthened

Explanation Export demand strengthened even as the manufacturing activity growth slowed.

Q3 What does the HSBC India Manufacturing PMI measure?

• AOverall manufacturing conditions including new orders, output, employment, supplier delivery times, and stocks of purchasesCorrect
• BOnly the export demand of manufacturing goods
• CInflation rates in the manufacturing sector
• DEmployment trends in the service sector

Explanation The PMI is a gauge of overall manufacturing conditions derived from multiple measures including new orders, output, employment, supplier delivery times, and stocks of purchases.

Q1 What percentage stake in LIC is the Centre planning to sell in the August 2026 OFS?

• A5%
• B6.5%Correct
• C10%
• D15%

Explanation The Centre will sell up to 6.5% stake in LIC as per the announcement.

Q2 At what floor price per share will the Centre sell LIC shares in the OFS?

• A₹350
• B₹382Correct
• C₹400
• D₹420

Explanation The floor price for LIC shares in the OFS is set at ₹382 per share.

Q3 On which date can retail investors bid for LIC shares in the OFS?

• AAugust 3
• BAugust 4
• CAugust 5Correct
• DAugust 6

Explanation Retail investors can bid on August 5 during the two-day OFS.

Q1 What milestone did Ather Energy achieve as a new-age EV two-wheeler maker?

• AReached EBITDA breakevenCorrect
• BLaunched first electric car
• CStarted exports to Europe
• DReceived government subsidy

Explanation Ather became the first new-age EV two-wheeler maker to achieve EBITDA breakeven.

Q2 By what percentage did Ather's sales increase during the June quarter?

• A81%Correct
• B50%
• C100%
• D25%

Explanation Ather's sales increased by 81% during the June quarter.

Q3 What external event contributed to Ather's EV sales boom?

• AWest Asia warCorrect
• BGlobal chip shortage
• CNew government policy
• DMonsoon season

Explanation The West Asia war-driven EV boom helped increase Ather's sales.

Q1 What did Trump describe the ongoing US-Iran talks as?

• AA routine diplomatic discussion
• BTehran's last chance to reach a dealCorrect
• CA minor negotiation with no urgency
• DAn opportunity to increase sanctions

Explanation Trump called the talks Tehran's 'last chance' to reach a deal, emphasizing their urgency.

Q2 What is one of the main goals of the US-Iran talks mentioned by Trump?

• ATo increase shipping restrictions in the Strait of Hormuz
• BTo reopen the Strait of Hormuz and address US concerns about Iran's nuclear programCorrect
• CTo establish a military alliance between the US and Iran
• DTo impose new economic sanctions on Iran

Explanation Trump stated the talks aim to reopen the Strait of Hormuz and create a pathway to address US concerns about Iran's nuclear program.

Q3 What has been a consequence of the US-Iran conflict prior to these talks?

• AIncreased trade between the US and Iran
• BDisruption of shipping through the Strait of HormuzCorrect
• CResolution of regional security concerns
• DExpansion of Iran's nuclear program

Explanation The conflict disrupted shipping through the Strait of Hormuz and heightened regional security concerns.

Q1 Who demanded that Mark Zuckerberg apologise for the removal of PM Modi's video?

• ANishikant DubeyCorrect
• BNarendra Modi
• CMark Zuckerberg
• DParliamentary Committee on Finance

Explanation Nishikant Dubey, the parliamentary panel chief, demanded the apology.

Q2 What consequence did Nishikant Dubey warn Meta could face if Zuckerberg does not apologise?

• ABan on Facebook in India
• BWithdrawal of safe harbour protection under the IT ActCorrect
• CHeavy financial penalties
• DCriminal charges against Zuckerberg

Explanation Dubey warned that Meta could lose its safe harbour protection under the IT Act.

Q3 What was temporarily removed from Facebook, prompting the demand for an apology?

• AA video of PM Narendra ModiCorrect
• BA post by Nishikant Dubey
• CA Meta company announcement
• DA news article about IT Act

Explanation The temporary removal of PM Narendra Modi's video from Facebook triggered the demand.

Q1 What action did Vinesh Phogat and other female wrestlers decide to take after Brij Bhushan Sharan Singh's acquittal?

• AAccept the court's decision
• BAppeal against the acquittalCorrect
• CWithdraw all complaints
• DSupport Brij Bhushan Sharan Singh

Explanation Vinesh Phogat and female wrestlers announced they will appeal the decision following Brij Bhushan Sharan Singh's acquittal.

Q2 According to Vinesh Phogat, what was the role of the government and system in Brij Bhushan's acquittal?

• AThey were impartial
• BThey were trying to protect Brij BhushanCorrect
• CThey were unaware of the case
• DThey supported the wrestlers

Explanation Vinesh Phogat stated that the government and the system were working to protect Brij Bhushan.

Q3 Who is Brij Bhushan Sharan Singh in the context of this news?

• AA wrestler acquitted in a legal caseCorrect
• BA government official supporting wrestlers
• CA coach of the Indian wrestling team
• DAn athlete appealing a court decision

Explanation Brij Bhushan Sharan Singh is the individual who was acquitted and whose acquittal is being appealed by female wrestlers.

Q1 Which regulatory body issued a prohibition order against Dabur for misleading '100%' claims?

• AFSSAICorrect
• BFDA
• CBIS
• DAGMARK

Explanation The Food Safety and Standards Authority of India (FSSAI) issued the prohibition order against Dabur.

Q2 Which of the following Dabur products was NOT mentioned in the FSSAI prohibition order for misleading claims?

• AHoney
• BApple Cider Vinegar
• CVirgin Coconut Oil
• DToothpasteCorrect

Explanation Toothpaste was not listed among the products with misleading '100%' claims; the order mentioned Honey, Apple Cider Vinegar, Virgin Coconut Oil, and others.

Q3 What was the main reason for FSSAI's prohibition order against Dabur?

• AMisleading '100%' claims on productsCorrect
• BUse of banned ingredients
• CPoor manufacturing practices
• DFailure to pay taxes

Explanation FSSAI issued the order due to misleading '100%' claims on Dabur's products.

Q1 Who has been appointed as the new CEO of IndiGo?

• AWillie WalshCorrect
• BRakesh Jhunjhunwala
• CAditya Ghosh
• DRahul Bhatia

Explanation Willie Walsh, the former IATA chief, has been appointed as the new CEO of IndiGo.

Q2 What is one of the key responsibilities of Willie Walsh as IndiGo's CEO?

• ALeading the airline's global expansionCorrect
• BManaging domestic flight operations only
• CFocusing solely on cargo services
• DOverseeing in-flight catering

Explanation Willie Walsh will lead IndiGo's global expansion, international network growth, and long-term strategy.

Q3 Willie Walsh was formerly the chief of which organization?

• AInternational Air Transport Association (IATA)Correct
• BAir India
• CBoeing
• DInternational Civil Aviation Organization (ICAO)

Explanation Willie Walsh was the former chief of the International Air Transport Association (IATA).

Q1 Which company has moved the Bombay High Court against the FSSAI's flavouring order?

• AUnited SpiritsCorrect
• BRadico Khaitan
• CUnited Breweries
• DSula Vineyards

Explanation United Spirits, owned by Diageo India, challenged the FSSAI's crackdown by moving the Bombay High Court.

Q2 What is the main issue United Spirits is challenging in the Bombay High Court?

• ATaxation on liquor sales
• BFlavouring and labelling practices enforcementCorrect
• CAdvertising restrictions
• DImport duties on liquor

Explanation United Spirits challenged the FSSAI's crackdown on flavouring and labelling practices.

Q3 Which regulatory body is enforcing the crackdown on the IMFL industry?

• AFood Safety and Standards Authority of India (FSSAI)Correct
• BCentral Board of Excise and Customs (CBEC)
• CMinistry of Commerce
• DBureau of Indian Standards (BIS)

Explanation FSSAI is the regulator enforcing the crackdown on flavouring and labelling in the IMFL industry.

Q1 Which organization has threatened FIFA with legal action over a failed World Cup stake sale?

• AFIFA
• BUEFACorrect
• CAFC
• DCONMEBOL

Explanation UEFA has threatened FIFA with legal action over the failed plan to sell World Cup stakes.

Q2 Who among the following FIFA executives was named in UEFA's letter to retain evidence?

• AGianni InfantinoCorrect
• BSepp Blatter
• CMichel Platini
• DDidier Deschamps

Explanation Gianni Infantino, FIFA President, was named among the 18 executives in UEFA's letter.

Q3 What did UEFA instruct the named FIFA executives to retain?

• AOnly financial records
• BOnly electronic messages
• CData, documents, and electronic messagesCorrect
• DOnly contracts related to players

Explanation UEFA instructed the executives to retain data, documents, and electronic messages as potential evidence.

Q1 Why did Tamil Nadu approach the Supreme Court regarding the Cauvery water dispute?

• ATo seek a fair share of Cauvery water from Karnataka due to inadequate releasesCorrect
• BTo demand Karnataka to stop all water releases
• CTo request more rainfall in the Cauvery basin
• DTo propose a new water-sharing agreement with Kerala

Explanation Tamil Nadu filed the petition citing inadequate water releases by Karnataka and seeking a fair share of Cauvery water.

Q2 What factors have revived the Cauvery water dispute between Tamil Nadu and Karnataka?

• ADeficient rainfall and unresolved distress sharing issuesCorrect
• BExcessive rainfall and surplus water in reservoirs
• CNew water-sharing agreements signed recently
• DIntervention by the central government

Explanation Deficient rainfall and unresolved issues related to distress sharing have revived the Cauvery water dispute.

Q3 Which legal body is Tamil Nadu approaching to resolve the Cauvery water dispute?

• ASupreme Court of IndiaCorrect
• BNational Green Tribunal
• CCentral Water Commission
• DKarnataka High Court

Explanation Tamil Nadu has filed a petition in the Supreme Court seeking resolution of the Cauvery water dispute.