Daily Current Affairs · Last published 1 September 2026
UPSC Prelims Current Affairs: 1 September 2026
PM Modi attends the 26th SCO Summit in Bishkek, the government notifies the Rs 1.27 lakh crore Semicon 2.0 scheme, and India's fiscal deficit narrows to 26.8 percent of the FY27 target.
PM Modi attends 26th SCO Summit in Bishkek, marks 25 years of the grouping
Prime Minister Narendra Modi travelled to Bishkek, the capital of Kyrgyzstan, to attend the 26th Summit of the Shanghai Cooperation Organisation on 31 August and 1 September 2026, held to mark 25 years since the SCO's founding. He said India looked forward to advancing its vision for the region anchored in Security, Connectivity and Opportunity, building on India's stated SCO priorities set out in 2018 of security, economic development, connectivity, unity, respect for sovereignty and environmental protection. The summit, attended by Chinese President Xi Jinping and Russian President Vladimir Putin among other leaders, was expected to adopt the Bishkek Declaration and around two dozen other outcome documents. For India, the Bishkek gathering also served as a lead up to the BRICS summit it will host in New Delhi on 12 and 13 September 2026.
Government notifies operational framework for Rs 1.27 lakh crore Semicon 2.0 scheme
The Union government notified the operational framework for Semicon 2.0, an expanded Rs 1.27 lakh crore programme under the India Semiconductor Mission, on 31 August 2026. Unlike the first phase, the scheme widens eligibility to chip design startups, MSMEs, equipment and materials manufacturers, and research and training institutions, and puts semiconductor design and intellectual property at the centre of the strategy alongside fabrication, assembly and advanced packaging. Silicon wafer fabs can receive support of up to 40 percent of eligible capital expenditure, while chip design startups and MSMEs can access national electronic design automation tools and seed funding of up to Rs 15 crore.
India's fiscal deficit at 26.8% of FY27 target in April to July
Government data released on 31 August 2026 showed India's fiscal deficit for April to July 2026 stood at Rs 4.55 lakh crore, or 26.8 percent of the full year target for 2026-27, an improvement from Rs 4.7 lakh crore in the same period last year. Net tax receipts rose to Rs 8.5 lakh crore from Rs 6.6 lakh crore a year earlier, while total government expenditure rose to Rs 17.6 lakh crore from Rs 15.6 lakh crore. The government has set its fiscal deficit target for 2026-27 at 4.3 percent of GDP, or Rs 16.96 lakh crore.
Bureau of Immigration ends boarding pass stamping for international flyers from September 1
From 1 September 2026, the Bureau of Immigration under the Ministry of Home Affairs stopped stamping boarding passes at immigration counters for passengers departing India on international flights, across all international airports in the country. Passengers can now show an electronic boarding pass on their phone for immigration clearance, and those still carrying a paper boarding pass will no longer have it stamped. The Bureau said the change was meant to reduce passenger inconvenience caused by incorrect or illegible stamping, and it does not affect visa or e-Arrival Card requirements for entering India.
National Biodiversity Authority disburses Rs 5.68 crore under Access and Benefit Sharing mechanism
The National Biodiversity Authority disbursed Rs 5.68 crore to State Biodiversity Boards and Union Territory Biodiversity Councils under the Access and Benefit Sharing mechanism, primarily linked to the commercial use of 139 varieties and 28 hybrids of Okra, along with Cucumber and Watermelon varieties. Gujarat received the largest share among states at Rs 88.79 lakh, followed by West Bengal and Madhya Pradesh. The Authority also disbursed benefit sharing funds to a CSIR National Chemical Laboratory unit in Pune, linked to an ABS amount received from Hindustan Petroleum Corporation Limited.
ISRO to end seven month launch pause with GISAT-1A on 4 September
The Indian Space Research Organisation announced on 31 August 2026 that it will launch the earth observation satellite EOS-05, also called GISAT-1A, aboard the GSLV-F17 rocket from Sriharikota on 4 September 2026. The launch will end a seven month operational pause for ISRO since the PSLV-C62 mission, carrying the EOS-N1 satellite, failed shortly after liftoff on 12 January 2026. GISAT-1A is a replacement for the original GISAT-1, also known as EOS-03, which was lost in August 2021 after the cryogenic upper stage of its launch vehicle failed to ignite.
India and Germany hold 4th Environment Forum in New Delhi
India's Union Minister for Environment, Forest and Climate Change Bhupender Yadav and Germany's Federal Minister for Environment, Climate Action, Nature Conservation and Nuclear Safety Carsten Schneider co-chaired the 4th Indo German Environment Forum in New Delhi on 1 September 2026. The forum, themed Together for More Resilience, focused on circular economy, biodiversity, climate action and adaptation, clean technology and sustainable finance. It was organised by India's Ministry of Environment, Forest and Climate Change and Germany's Federal Ministry for the Environment, together with German and Indian industry bodies.