July 2026 Monthly Policy Review: Key Bills, Inflation, Semicon 2.0
UPSC / SSC current affairs note · Polity
Why in news
The Monsoon Session of Parliament commenced with several significant legislative actions, including bills to increase Supreme Court judges and amend the MSME Act. The Cabinet approved major schemes like Semicon 2.0 and Samudra Manthan, while CPI inflation showed a rise in the first quarter of 2026-27.
Background
PRS Legislative Research publishes monthly policy reviews summarizing key parliamentary and governmental developments. This review covers July 2026, highlighting legislative and policy changes.
Key facts
Monsoon Session 2026 began on July 20, 2026, with 19 sittings scheduled; five bills introduced and two passed so far.
CPI inflation was 3.9% in Q1 of 2026-27, up from 2.9% in the same quarter of 2025-26.
Food inflation was 4.8% and wholesale inflation was 9.3% in Q1 of 2026-27.
Public Examinations (Prevention of Unfair Means) Amendment Bill, 2026 passed: increases penalties, provides for special task forces and fast track courts, and mandates time-bound investigation and trial.
Bill introduced to increase Supreme Court judges (excluding CJI) from 33 to 37; repeals the Supreme Court (Number of Judges) Amendment Ordinance, 2026.
Bill introduced to amend MSME Act: central government to notify thresholds for classification based on investment and turnover.
Rules under VB-GRAM G Act, 2025 mandate Direct Benefit Transfer for all wage and unemployment allowance payments.
Cabinet approved Semicon 2.0 with outlay of Rs 1,27,500 crore to support semiconductor design and manufacturing ecosystem.
Cabinet approved 'Samudra Manthan' scheme with outlay of Rs 84,084 crore for domestic oil and gas exploration and production.
Prevention of Insults to National Honour (Amendment) Bill, 2026 passed: penalises insults to national song (Vande Mataram).
Prelims pointers
- Monsoon Session 2026: July 20, 2026, 19 sittings
- CPI inflation Q1 2026-27: 3.9%
- Food inflation Q1 2026-27: 4.8%
- Wholesale inflation Q1 2026-27: 9.3%
- Supreme Court judges increase: from 33 to 37 (excluding CJI)
- Semicon 2.0 outlay: Rs 1,27,500 crore
- Samudra Manthan outlay: Rs 84,084 crore
- PM-KISAN extended up to 2030-31
- VB-GRAM G Act, 2025
- Public Examinations (Prevention of Unfair Means) Amendment Bill, 2026
Mains angles
- Discuss the implications of increasing the number of Supreme Court judges on judicial efficiency and backlog.
- Analyze the effectiveness of the Public Examinations (Prevention of Unfair Means) Amendment Bill in curbing exam malpractices.
- Evaluate the potential of Semicon 2.0 in boosting India's semiconductor ecosystem and reducing import dependence.
- Examine the impact of Samudra Manthan on India's energy security and oil exploration.
- Critically assess the extension of PM-KISAN and its fiscal implications.