Union budget imposes all-round price hike.
Simon Bolivar, great dynamic leader and social reformer, was born at Carcas.
Pannalal Ghosh, famous flute player, was born.
Industrial licensing scrapped.
Mahasweta Devi, Bengali litterateur, is recipient of this year's Ramon Magsaysay Award for journalism, literature and creative communication arts for her writings on indigenous communities.
Ramkrishna Mission Seva Pratisthan was established for the service of the sick and humanitarian activities.
Prime Minister Rajiv Gandhi and Sikh leader Sant Harchand Singh Longowal of Akali Dal signed a peace contract known as 'Punjab Accord' thus ending the four-year agitation in Punjab.
Govt. decides to raise the ceiling on the maximum amount of retirement/death gratuity from Rs. 1 lakh to Rs. 2.50 lakhs.
India signs a deal with Russia for purchasing the aircraft-carrier.
Qutubu'd-din Aibak (1206-1210) was crowned at Lahore after the death of Muhammad of Ghuri. He was originally a slave of Turkestan. As he started his career as a slave, the dynasty founded by him in India is known as "Slave Dynasty". The construction of Qutabminar was started during his regime. Since he was very generous, the people called him "Lakh Baksh".
Country's highest civilian honour Bharat Ratna conferred on former interim Prime Minister Gulzarilal Nanda and posthumously on freedom-fighter Aruna Asaf Ali.
The trial in the Rs. 133 crore urea scam resumes after about one year in the special court for CBI cases in New Delhi.
S. Vijayalakshmi becomes the first Indian woman Grandmaster in the International Grandmasters chess tournament held in Hyderabad.
Vimala Ranadive (84), senior CPI(M) leader, died in Mumbai.
A majority of opposition members in Lok Sabha resign on the issue of C & AG report on Bofors gun deal.
Om Prakash Chautala is sworn in the Chief Minister of Haryana, and will seek trust vote on July 27.