Tag: assam current affairs February 2019

Assam Current Affairs – February 22 – 28, 2019

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Current Affairs Assam – February 22 - 28, 2019

( Covers all important Assam Current Affairs & GK topics for the week of February 22 – 28, 2019 )

February 2019 – Monthly PDF   |   Monthly Quiz eBook PDF

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February 22, 2019

PM Narendra Modi receives Seoul Peace Prize
  • Prime Minister Narendra Modi received the Seoul Peace Prize, while in south Korea on a two-day visit. The prime minister was conferred the honour for his efforts in promoting global peace and harmony through inclusive economic growth and for improving quality of life.
  • Prime Minister dedicated it to the people of India and the prize money of $200,000 that he contributed to the Namami Gange fund.

FACTFILE – The Seoul Peace Prize

  • The Seoul Peace Prize was established in 1990 as a biennial recognition with monetary award to commemorate the success of the 24th Summer Olympic Games held in Seoul, Korea, an event in which 160 nations from across the world took part, creating harmony and friendship.
  • The Seoul Peace Prize was established to reflect the wishes of the Korean people and to crystallize their desire for everlasting peace on earth. The nominating group consists of 300 Korean nationals, and 800 internationals.
  • The awardee receives a diploma, a plaque and honorarium of US$200,000.
All India Citizens Survey of Police Services to begin in March
  • With an aim to strengthen the good governance practices in the police, the Union Home Ministry commissioned the Bureau of Police Research and Development (BPRD) to conduct a pan-India survey called “All India Citizens Survey of Police Services.”
  • The survey will be conducted through the New Delhi-based National Council of Applied Economic Research.
  • The survey is aimed to understand public perception about the police, gauge the level of non-reporting of crime or incidents to the police, the situation on ground relating to crime reporting and recording, timeliness and quality of police response and action, and assess citizens’ perception and experience about women and children’s safety.
  • All states and Union Territories would be included in the survey, which will be completed in 9 months.
President of India approves changes in Stamp Act
  • President Ram Nath Kovind gave his assent to changes in the Indian Stamp Act, 1899, which will rationalise and harmonise the system of levying stamp duty and help curb tax evasion.
  • The Amendments to the Indian Stamp Act, 1899, were introduced as part of the Finance Act 2019, and was approved by Parliament.
  • The amendments propose to create the legal and institutional mechanism to enable states to collect stamp duty on securities market instruments at one place by one agency.
Cement Manufacturers’ Association inks pact with trade unions
  • Cement Manufacturers’ Association (CMA) has signed a four-year wage settlement agreement with federations of major central trade unions entailing a rise of Rs 5,000 in gross monthly pay of 20,000 workers in the sector.
  • The agreement was signed with Indian National Trade Union Congress (INTUC), All India Trade Union Congress (AITUC), Bharatiya Mazdoor Sangh (BMS), Hind Mazdoor Sabha (HMS), Centre of Indian Trade Unions (CITU) and Labour Progressive Federation (LPF) before the chief labour commissioner.
  • The settlement is for four years from April 1, 2018, to March 31, 2022, and it will benefit around 20,000 employees in the Indian cement industry by way of an increase in gross pay, enhanced dearness allowance and service weightage.
  • The settlement provides for an increase of Rs 5,000 per month in the gross pay of cement employees.
  • A total of 21 cement companies, consisting major players which cover 60 per cent of the country’s total cement capacity, had authorised CMA to negotiate with the trade unions on their behalf.

FACTFILE – Cement Manufacturers Association (CMA) is the apex body of major cement plants in India. We are the Indian Cement Industry’s consolidated voice on issues such as environment, waste recycling, taxation, logistics and fuel supply among others.

HAL to make 16 Tejas this year for IAF
  • State-run Hindustan Aeronautics Ltd (HAL) is ramping up production to deliver 16 of them for the Indian Air Force (IAF) operational fleet by this year-end. They have increased the production capacity with an upfront investment of Rs 1,380 crore in Bengaluru complex.
  • Recently Hindustan Aeronautics Ltd handed over the first three advanced light helicopters (ALHs) as part of the 22 ALH MK III contract to the Indian Army at the ongoing Aero India show.
  • As partner in co-developing and manufacturing the combat fighter, the city-based defence behemoth has already delivered to the IAF 16 Tejas in the Initial Operation Clearance (IOC) configuration.
  • The regulator Centre for Military Airworthiness and Certification (Cemilac) Chief Executive P. Jayapal handed over the FOC certificate and release-to-service documents to Chief of Air Staff Air Marshal B.S. Dhanoa.
  • Touted as the world’s only lightweight combat aircraft, the advanced fourth generation Tejas is a single twin engine, agile mutli-role supersonic fighter.
  • The ‘Made in India’ fighter has quadraplex digital fly-by-wire flight control system with advanced flight control laws.

FACTFILE – Hindustan Aeronautics Limited (HAL)

  • HAL is an Indian state-owned aerospace and defence company headquartered in Bangalore, India. It is governed under the management of the Indian Ministry of Defence.
  • The government-owned corporation is primarily involved in the operations of the aerospace and is currently involved in the design, fabrication and assembly of aircraft, jet engines, helicopters and their spare parts.
  • It has several facilities spread across India including Nasik, Korwa, Kanpur, Koraput, Lucknow, Bangalore, Hyderabad and Kasaragod.
WWF-India Ek Prithvi programme launched in Assam
  • Assam Education Minister Siddhartha Bhattacharya launched the WWF-India Ek Prithvi programme in the state. Assam is the eighth State in the country where WWF-India is implementing the Ek Prithvi programme.
  • It is a pan-India programme designed to build conservation leaders by raising awareness about environment, engaging them in conservation action and building positive attitudes towards a sustainable lifestyle.
  • Along with the programme, the Ek Prithvi Leadership Manual and Teachers Manual in Assamese language for classes I to XII were also released.
  • The launch was followed by ‘Leadership and Teacher Training’ for SCERT officials, DIET nodal officers, principals and teachers towards implementing the Ek Prithvi programme.
  • The Ek Prithvi programme will empower more than 1,100 students in the State in the first phase. It starts from three schools namely, No. 144 Mayong LP School, Mayong HS School and Lokapriya GNB High School in Morigaon district.

FACTFILE – World Wide Fund for Nature-India (WWF-India)

  • WWF-India was founded with the express objective of ensuring the conservation of the country’s wildlife and natural habitats. It was set up as a Charitable Public Trust on 27 November 1969.
  • It was then known as the World Wildlife Fund-India, much before the terms ‘wildlife’ and ‘environment’ had caught the attention of the government or the public.
Goalpara district to adopts green tech for rural roads
  • At the initiative of the district administration, Goalpara has set an example by adopting green technologies in the construction of a number of rural roads under the Pradhan Mantri Gram Sadak Yojana (PMGSY) scheme across the district.
  • Adopting green technologies for road construction for enhancing accessibility in providing all weather road connectivity to the people, particularly those living in the rural areas.
  • The green technologies such as waste plastic technology, geo-grid technology, cell-filled concrete technology, interlocking concrete block pavement will not only reduce dependence on natural resources, but also make it economically viable by bringing down the construction cost as well as maintenance of the roads.
  • Around 150 km of roads have been constructed by using various green technologies in the last six months.
  • The Ministry of Rural Development has sanctioned a total of 565 km-length for the district under PMGSY for 2018-19 out of which the targeted 380 km will be completed.

                                                                February 23, 2019 

Centre to deploy 100 companies of paramilitary forces in J&K
  • The Centre has decided to deploy additional 100 companies of the Central Armed Police Force (CAPF) on an urgent basis in Jammu and Kashmir. Including 45 companies of the CRPF, 35 companies of the Border Security Force (BSF), and 10 companies each of the Sashastra Seema Bal (SSB) and the Indo-Tibetan Border Police (ITBP).
  • The move came the night after raids were carried out in south, central and north Kashmir areas in which dozens of Jamaat-e-Islami leaders, including its chief Abdul Hamid Fayaz, were detained.

FACTFILE – The Ministry of Home Affairs (MHA) or Home Ministry

  • Home Ministry is a ministry of the Government of India. As the interior ministry of India, it is mainly responsible for the maintenance of internal security and domestic policy.
  • The Home Ministry is also the cadre controlling authority for the Indian Police Service (IPS), DANIPS and DANICS. Police-I Division of the ministry is the cadre controlling authority in respect of the Indian Police Service; whereas, the UT Division is the administrative division for DANIPS and DANICS and the All India Services officers posted and working in the Arunachal Pradesh-Goa-Mizoram-Union Territories (AGMUT) cadre.
Clean and Green Village Mission launched in Hailakandi District
  • Clean and Green Village Mission, a new initiative of the State Government, was launched in Hailakandi district.
  • The inaugural event at Paikan village under 6 Hailakandi Legislative Assembly Constituency (LAC) was organised under the MyGov Assam initiative.
  • Saplings were distributed among the people on the occasion. Local villagers took part in the programme with the promise of carrying forward the mission.
  • Team members of MyGov Assam, who are closely monitoring the progress, appealed to the villagers to complement the efforts of the State Government and the district administration in creating awareness about cleanliness and environmental-related issues.
February 2019 – Monthly PDF   |   Monthly Quiz eBook PDF

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Assam Current Affairs – February 15 – 21, 2019

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Current Affairs Assam – February 15 - 21, 2019

( Covers all important Assam Current Affairs & GK topics for the week of February 15 – 21, 2019 )

February 2019 – Monthly PDF   |   Monthly Quiz eBook PDF

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February 15, 2019

India-US CEOs Forum to set up working groups
  • The India-US CEOs Forum decided to set up working groups on financial services, healthcare and defence to suggest measures to accelerate trade and investment between the two countries.
  • 3 working groups would be set up in addition to the existing four on energy and environment, ICT, emerging technologies and digital infrastructure, entrepreneurship and inclusive growth, as well as on infrastructure and manufacturing.
  • Commerce Minister Suresh Prabhu led the Indian delegation and the American side was headed by US Ambassador to India Kenneth Juster.

FACTFILE – India-US bilateral trade

  • Total bilateral trade (goods and services) with India was $126 billion in 2017, up 10.4% from $114.2 billion level in 2016.
  • Exports were valued at $49.4 billion and imports were worth $76.7 billion. The US goods and services trade deficit with India was $27.3 billion in 2017.
  • India is US’s ninth largest goods trading partner with $74.3 billion in total (two-way) goods trade during 2017. Goods exports totaled $25.7 billion and goods imports totaled at $48.6 billion. The US goods trade deficit with India was $22.9 billion in 2017.
  • While India was the United States’ 15th largest goods export market in 2017, the latter exported $25.7 billion of goods to India, up by 18.7 per cent ($4.1 billion) from 2016 and up 71.6 per cent from 2007.
  • US exports to India accounted for 1.7 per cent of overall US exports in 2017. The top export categories in 2017 were precious metals and stone (diamonds) at $7 billion, mineral fuels ($2.8 billion), aircraft ($2.2 billion), machinery ($2.1 billion), and optical and medical instruments ($1.4 billion).
  • US exports of services to India were estimated at $23.7 billion in 2017, 15.2 per cent ($3.1 billion) more than 2016, and 174 per cent higher than 2007 levels.
  • Leading services exports from the US to India were in the travel, intellectual property (computer software, audio and visual related products), and transport sectors.
  • In the imports bracket, India was the United States’ 11th largest supplier of goods in 2017.
Union Government increases MSP for sugar
  • Minimum Selling Price (MSP) of sugar has been increased to Rs 31 from Rs. 29 per kg in order to help millers clear pending dues of sugarcane farmers that now amount to Rs 20,167 crore.
  • The mills will not be able to sell sugar below Rs 31 in the open market. It will rovide more liquidity to the sugar mills so that they are able to pay the arrears or dues to the sugarcane
  • It would not lead to an increase in the retail prices and they will remain below Rs 40 per kg.
  • The total arrears to sugarcane farmers is around Rs 20,167 crore including Rs 7,229 crore in Uttar Pradesh, Rs 4,792 crore in Maharashtra and Rs 3,990 crore in
India’s First District Cooling System to be in Amaravati
  • India’s First District cooling system will come up in Amravati, capital of Andhra Pradesh. The government of Andhra Pradesh has entered into a 30-year concession with a UAE-based international cooling provider.
  • District Cooling System at Amaravati is part of Andhra Pradesh Government’s vision to create jobs and homes along with a world-class infrastructure at Amaravati.
  • The District Cooling System will meet the cooling requirements for the State’s Assembly, High Court, Secretariat and other government buildings that are currently under construction, for which cooling services will commence from early 2021.

FACTFILE – District Cooling Systems

  • It produce chilled water, steam or hot water at a central plant and then pipe that energy out (either underground or over rooftops) to buildings for air conditioning, space heating and water heating. So, these buildings don’t require their own chillers, air conditioners, boilers or furnaces.
  • District Cooling uses only 50 per cent of primary energy consumption for cooling urban building n compared to other cooling systems.
Ghumot to be notified as a Heritage Musical Instrument of Goa
  • The Art and Culture Minister of Goa, Govind Gaude has announced that Ghumot, an indigenous earthen drum will soon be notified as a Heritage Musical Instrument of Goa.
  • Ghumot is an indigenous earthen drum fashioned as a designed clay pot, with the skin of the monitor lizard stretched taut across the pot’s mouth, forming a drumhead.
  • Ghumot is a percussion instrument widely played during ‘Ganesh Chaturthi Aarties’.

                                                                February 16, 2019

World Bank extends $40 million loan for water project in Himachal Pradesh
  • The Indian and Himachal Pradesh governments and the World Bank signed a $40 million loan agreement to help provide clean and reliable drinking water.
  • The Shimla Water Supply and Sewerage Service Delivery Reform Programmatic Development Policy Loan is expected to improve water supply and sanitation services in and around the iconic hill city of Shimla, which has been facing severe water shortages and water-borne epidemics in recent years.
  • The agreement was signed by Khare, Prabodh Saxena, the state Urban Development Department Principal Secretary, and Junaid Ahmad, the World Bank India Country Director.
  • The World Bank-supported project will support the state programme of policy and institutional reform needed to bring continuous, pressurised water supply, efficient sewage collection and treatment for all households in the Greater Shimla area.
  • The $40 million loan from the International Bank for Reconstruction and Development (IBRD) has a four-year grace period and a maturity of 15.5 years.

FACTFILE – International Bank for Reconstruction and Development (IBRD)

  • The International Bank for Reconstruction and Development (IBRD) is an international financial institution that offers loans to middle-income developing countries.
  • The IBRD is the first of five member institutions that compose the World Bank Group, and is headquartered in Washington DC, United States.
  • It was established in 1944 with the mission of financing the reconstruction of European nations devastated by WW II, but later, it’s mandate expanded to advancing worldwide economic development and eradicating poverty.
  • The IBRD and the International Development Association (its concessional lending arm), are collectively known as the World Bank as they share the same staff.
  • It offers a number of financial services and products, including flexible loans, grants, risk guarantees, financial derivatives, and catastrophic risk financing.
Rudra Barua Award bestowed on Guru Nadiram Deuri
  • The Luit Konwar Rudra Barua Award was presented to Guru Nadiram Deuri for his outstanding contribution towards promotion of Tiwa folk dance and music.
  • The award instituted by the Luit Konwar Rudra Barua Trust consists of a cash award of Rs 25,000, a citation and a shawl.
  • The award was presented at Jagiroad, coinciding with the 39th death anniversary of the legendary artiste and organiser.

BIOGRAPHY – Luit Konwar Rudra Baruah

  • Luit Konwar Rudra Baruah was one of the foremost music pioneers of Assam.
  • He was an actor, composer, lyricist, singer and musician. He served with Govt. of Assam in the Public Relations Department and established the Culture & Film Division in the 1970s.
  • He was conferred the title Luit Konwar in honour of the sterling work in the development of music and cinema in Assam.
MCI centre opened at the Jorhat Medical College and Hospital
  • The Medical Council of India’s Regional Centre for Medical Education Technologies at the Jorhat Medical College and Hospital (JMCH), Jorhat.
  • The MCI Centre for Medical Education Technologies would upgrade the teaching competency of teachers commensurate with the new MCI curriculum, which would be implemented from August 2019.
  • The Centre would offer its services to 19 medical colleges from West Bengal, Sikkim,Meghalaya, Agartala, Manipur and Assam.
Sushil Chandra appointed as new Election Commissioner of India
  • President Ram Nath Kovind has appointed Sushil Chandra as the new Election Commissioner.
  • Sushil Chandra Appointed as new Election Commissioner. His appointment fills the vacancy caused after the retirement of O.P. Rawat.
  • Sushil Chandra is currently serving as the chairman of the Central Board of Direct Taxes (CBDT). Before that he has served as Commissioner of Income Tax (Appeals) International Taxation in Delhi, Director of Investigation, Mumbai and Director General Investigation, Gujarat.
  • Other two members of the Commission, Chief Election Commissioner (CEC) Sunil Arora and Election Commissioner (EC) Ashok Lavasa.

FACTFILE – Election Commissioner of India

  • The appointment was made under the clause (2) of Article 324 of the constitution.
  • The Election Commission shall consist of the Chief Election Commissioner and such number of other Election Commissioners.
  • The appointment of the Chief Election Commissioner and other Election Commissioners shall, subject to the provisions of any law made in that behalf by Parliament be made by the President.
  • The President appoints the Election Commissioner based on the recommendations of the cabinet under the Transaction of Business Rules of 1961.

 

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Assam Current Affairs – February 08 – 14, 2019

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Current Affairs Assam – February 08 - 14, 2019

( Covers all important Assam Current Affairs & GK topics for the week of February 08 – 14, 2019 )

February 2019 – Monthly PDF   |   Monthly Quiz eBook PDF

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February 08, 2019

Framework of entrepreneurship curriculum approved by Delhi government
  • The Delhi government approved the framework of Entrepreneurship Curriculum, which will be launched in about 20 schools in April as a pilot while the full-fledged launch will take place in all Delhi government schools.
  • The State Council of Educational Research and Training (SCERT) in its governing council meeting chaired by the Education Minister Manish Sisodia approved the framework.
  • The framework, formed by a 16-member committee comprising experts and teachers, will be released formally by Chief Minister Arvind Kejriwal.
  • The curriculum will be activity-based and there would be no evaluation, examination and books for the curriculum.
  • The thought of the Education Minister behind the launch of the entrepreneurship curriculum is to make the students of Delhi government job creators rather than being job seekers.

Andhra Pradesh passes Bill for 5% quota to Kapus

  • The Andhra Pradesh Assembly passed a Bill to provide five per cent reservation to the Kapu community. The Bill to provide five per cent quota in education and employment to Kapus, Ontari, Balija and Telaga sub-castes was passed unanimously by the House.
  • The Bill was subsequently forwarded to the Centre seeking a Constitutional amendment to include Kapus in the backward classes list under Schedule IX as the five per cent quota proposed is over and above the stipulated 50 per cent reservations for all categories.
  • Last month, the Telugu Desam Party (TDP) government had announced it will give five per cent reservation to Kapus and its sub-castes out of 10 per cent quota announced by the Centre for the economically weaker sections (EWS).

February 09, 2019

Centre allocates Rs 59 cr for Asiatic Lion conservation
  • To protect and conserve the worlds last ranging free population of Asiatic Lions, the Ministry of Environment launched a three-year Asiatic Lion Conservation Project in collaboration with the state of Gujarat.
  • The project, at an estimated cost of Rs 98 crore, for which the Ministry of Environment, Forests and Climate Change (MoEFCC) has allocated Rs 59 crore to Gujarat’s Gir sanctuary, will span over three financial years — 2018-2019, 2019-2020 and 2020-2021.
  • It will focus on the scientific management of the lion habitat with the involvement of communities, disease control and veterinary care for the overall conservation of Asiatic Lions.
  • The project, will use modern information and communication technology (ICT) for conservation, protection and development efforts of the Greater Gir region, including GPS based tracking, surveillance, animal and vehicle tracking, magnetic and movement sensors, infra-red heat sensors, night vision capability enhancement, GIS-based real-time monitoring, analysis and report generation.

FACTFILE – The Asiatic Lion in Gir

  • It is one of the 21 critically endangered species identified by the Ministry for taking up recovery programmes.
  • It is being listed in Schedule-I of the Wildlife (Protection) Act, 1972, to be accorded the highest degree of protection.
India signed MoU to train 1,800 Bangladesh civil servants
  • India will train 1,800 Bangladeshi civil servants in in e-governance and service delivery, public policy and implementation, information technology, decentralisation, urban development and planning, ethics in administration and challenges in implementation of Sustainable Development Goals.
  • The MoU was signed between the National Centre for Good Governance (NCGG) and the Ministry of Public Administration of Bangladesh.
  • The Bangladeshi civil servants will be trained at NCGG, an institute under the Department of Administrative Reforms and Public Grievances (DAR&PG) of the Ministry of Personnel.
  • This is the second time that NCGG would enter into an MoU for a training programme for Bangladesh civil servants. Under the first MOU signed five years ago, 1,500 Bangladesh civil servants have already been trained in NCGG.
Central Govt announces Great Indian Bustard as mascot for COP-13
  • The Centre announced that the Great Indian Bustard (GIB) will be its mascot for the 13th Conference of Parties (COP) of the UN Convention on the conservation of migratory species (CMS) to be held in Gujarat.
  • Hosting the 13th COP would give India an opportunity to showcase its conservation initiatives for wildlife species.
  • It will provide a global platform for deliberations on the conservation and sustainable use of migratory wild animals and their habitat
  • The Indian sub-continent is also part of the major bird flyway network, i.e, the Central Asian Flyway (CAF), which covers areas between the Arctic Ocean and the Indian Ocean, and covers at least 279 populations of 182 migratory waterbird species, including 29 globally threatened species.
  • India is temporary home to several migratory birds and animals like Amur falcons, Bar-headed geese, Black-necked cranes, Marine turtles, Dugongs, Humpbacked whales etc.

FACTFILE – The Convention on the Conservation of Migratory Species of Wild Animals

  • Also known as the Convention on Migratory Species (CMS) or the Bonn Convention and CMS COP, is an international treaty under the aegis of the United Nations Environment Programme, aimed at conserve terrestrial, marine and avian migratory species throughout their range.
  • The CMS is the only global and UN-based intergovernmental organization established exclusively for the conservation and management of terrestrial, aquatic and avian migratory species throughout their range.
  • The Convention was signed in 1979 in Bad Godesberg, a suburb of Bonn, and entered into force in 1983.
  • The depositary is the government of the Federal Republic of Germany.

 

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Assam Current Affairs – February 01 – 07, 2019

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Current Affairs Assam – February 1 - 7, 2019

( Covers all important Assam Current Affairs & GK topics for the week of February 1 – 7, 2019 )

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February 01, 2019

Highlights of Union Budget 2019 – 20 – Analysis & Important points

Download Union Budget 2019-20 Highlights PDF

Finance Minister Piyush Goyal on 1st February, 2019, presented the interim Union Budget in Lok Sabha. The Budget is notable for its roadmap for 2030 focusing on 10 dimensions which are key growth drivers of the Indian economy.

Highlights and important points of the Interim Budget 2019

- Income Tax & other Personal Taxes -
  • Individual taxpayers with annual income up to Rs. 5 lakh rupees to get full tax rebate. For others, the tax rate remains unchanged.
  • Individuals with gross income up to 6.5 lakh rupees will not need to pay any tax if they make investments of Rs.1.5 Lakh in instruments prescribed eligible for tax savings under Section 80C.
  • Standard tax deduction for salaried persons raised from Rs. 40,000 rupees to 50,000.
  • TDS threshold on rental income raised from Rs. 1.8 lakh to Rs. 2.4 lakh. Around 3 crore middle-class taxpayers will get tax exemption due to this measure.
  • Benefit of rollover of capital tax gains to be increased from investment in one residential house to that in two residential houses, for a taxpayer having capital gains up to 2 crore rupees; can be exercised once in a lifetime.
  • Benefits under Sec 80(i) BA being extended for one more year, for all housing projects approved till end of 2019-2020.
  • Group of Ministers examining how prospective house buyers can benefit under GST.
  • Within almost two years, almost all assessment and verification of IT returns will be done electronically by an anonymized tax system without any intervention by tax officials.
- Business Taxes -
  • Businesses with less than Rs. 5 crore annual turnover, comprising over 90% of GST payers, will be allowed to return quarterly returns.
  • 2 % interest subvention on loan of 1 crore for GST registered MSME units.
- GST Implications -
  • In January 2019, GST collections have crossed Rs. 1 lakh crore.
  • GST has been continuously reduced, resulting in relief of Rs. 80,000 crore to consumers; most items of daily use for poor and middle class are now in the 0%-5% tax bracket.
  • GST is the biggest taxation reform implemented since Independence; through tax consolidation, India became one common market; inter-state movements became faster through e-way bills, improving Ease of Doing Business.
- Tax Collection -
  • Direct tax collections from 6.38 lakh crore rupees in 2013-14 to almost 12 lakh crore rupees; tax base up from Rs 3.79 crore to Rs 6.85 crore.
  • 54% returns have been accepted without any scrutiny.
- Business Scenario -
  • Cost of data and voice calls in India is now possibly the lowest in the world.
  • Mobile and mobile part manufacturing companies have increased from 2 to 268.
  • Single window clearance for filmmaking to be made available to Indian filmmakers.
  • Anti-camcording provision to be introduced to Cinematography Act to combat film privacy.
  • Digitization of Export and Import transaction.
  • India is the second largest start up hub of the world.
- North East India -
  • Allocation for North Eastern region proposed to be increased to Rs 58,166 crore in this year a rise of over 21% from the previous year.
  • Government will introduce container cargo movement to the Northeast by improving the navigation capacity of the Brahmaputra River.
  • The budget allocation of Rs. 580 crore for various schemes of the North Eastern Council
  • 931 crore under Central Pool of Resources for Northeast and Sikkim
  • 674 crore under other subsidy payable including for North Eastern Region
  • 1,700 crore for refund of Central and Integrated GST to Industrial Units in Northeastern region and Himalayan states.
  • Arunachal Pradesh has come on the air map recently and Meghalaya, Tripura and Mizoram have come on India’s rail map for the first time.
  • Many Projects stuck for decades like the Bogibeel rail-cum-road bridge have been completed.
- Agriculture & Allied sector -
  • Increased allocation for Rashtriya Gokul Mission to Rs. 750 crore in current year.
  • Two per cent interest subvention to farmers pursuing animal husbandry and fisheries.
  • Under Pradhan Mantri Kisan Samman Nidhi, 6000 per year for each farmer, in three installments, to be transferred directly to farmers’ bank accounts, for farmers with less than 2 hectares land holding. This initiative is likely to benefit 12 crore small and marginal farmers, at an estimated cost of Rs 75,000 crore.
  • Government announced setting up of Rashtriya Kamdhenu Aayog to enhance productivity of cows.
- Mining and Core Industry sector -
  • Urgent action needed to increase hydrocarbon production to decrease imports; change in bidding procedure and exploration procedure being implemented.
- Banking and Financial Sector -
  • The 4R approach has been implemented to ensure clean banking –
  1. Recognition
  2. Resolution
  3. Recapitalisation
  4. Reform
  • The government spent Rs 2.6 lakh crore in the recapitalisation of the public sector banks and recovered Rs 3 lakh crore so far, through the Insolvency and Bankruptcy Code procedures. The Bank of India, Bank of Maharashtra and the Oriental Bank of Commerce are out of the PCA framework.
  • 56 lakh loans worth Rs 7.23 lakh crore have been sanctioned under Mudra scheme.
- Technology Sector -
  • Mobile Date consumption has increased by 50% in the country in the last five years. More than 3 lakh service centres are employing over 12 lakh today under the Digital India push.
  • National Program on Artificial Intelligence is up next with centres of excellence to give the push. The aim is to empower the MSME sector.
- Infrastructure Sector -
  • Sagarmala Project, a strategic and customer-oriented initiative to modernize India’s Ports, will be scaled up.
  • On realty sector, RERA and Benami Properties Act helped bring transparency in the sector.
  • Promise of electricity for all households by March 2019.
  • Digital villages are the next big scheme with an aim of 1,00,000 lakh such villages in the next five years.
  • India has achieved 98 percent rural sanitation coverage.
- Railway Sector -
  • Planned expenditure of Rs. 1,58,658 crore.
  • The operating ratio, a measure of Indian Railways financial health, improved and further improvement is being eyed. The operating ratio for the current fiscal year has improved to 96.2%.
  • Trains sets like Train 18, now Vande Bharat Express, will offer world-class travel experience to passengers in the coming years.
  • Vande Bharat Express was pitched as the indigenous technology leap that will ensure speed, service and safety in rail travel.
  • An outlay of Rs 64,587 crore for Indian Railways.
- Defense Sector -
  • Defense Budget gets mega boost, which is set for Rs. 3 lakh crore.
- Social Welfare -
  • Pradhan Mantri Shram Yogi Mandhan, to provide assured monthly pension of 3000 rupees per month, with contribution of 100 rupees per month, for workers in unorganised sector after 60 years of age. This will benefit 10 crore workers in unorganized sector, may become the world’s biggest pension scheme for unorganized sector in five years.
  • 500 crore to be set aside for the above scheme, which is to be implemented from this year.
  • Massive announcement for work sector wish increase in gratuity limit from Rs 10 lakh to Rs 30 lakh.
  • Rs 60,000 crore has also been set aside for
  • Rs 19,000 crore has been allocated for Pradhan Mantri Gram Sadak Yojana.
  • Allocation for National Education Scheme is 38578 crore.
  • 76,800 crore for SC/ST/OBC welfare schemes.
  • Committee under NITI Aayog to be set up to identify and denotify nomadic and semi-nomadic communities; Welfare Development Board to be set up under Ministry of Social Justice and Empowerment for welfare of these hard-to-reach communities and for tailored strategic interventions.
- Women and Child Development -
  • Rs 29,000 crore has been set aside for the Women and Child Development (WCD) Ministry for the next fiscal, a 20 % increase over the 2018-2019 financial year with the Centre’s programmes of maternity benefit and child protection services.
  • The allocation for the Pradhan Mantri Matru Vandana Yojana (PMMVY), a maternity benefit programme, was more than doubled to Rs 2,500 crore from Rs 1,200 crore. The programme provides Rs 6,000 each to pregnant women and lactating mothers.
  • The Child Protection Services programme under the Integrated Child Development Services was increased to Rs 1,500 crore from Rs 925 crore.
  • The government has already provided 6 crore free LPG connection. Government aims to complete the promise of 8 crore Free LPG connections by next year.
- Growth of Indian Economy -
  • India is poised to become a 5 trillion dollar economy in the next five years and will become a 10 trillion dollar economy in the next eight years.
  • Inflation is a hidden and unfair tax; from 10.1% during 2009-14, inflation in December 2018 was just 1%.
- Fiscal Scenario -
  • Fiscal deficit has been bought down to 3.4%
  • CAD (Current Account Deficit) likely to be 5% of GDP this year.
  • Total expenditure target for FY20 is at 27,84,200 crore a rise of 13.3%
  • Capital expenditure target is at Rs 3.36 lakh crore.
  • In 2018-19, dividend from RBI, PSU Banks is Rs 74,100 crore. For the current financial year, target for the same has been pegged at Rs 82,900 crore.
  • Revenue Deficit target has been pegged at 2 percent of the GDP.
  • Gilt repayment is pegged at Rs 2.36 lakh crore.
  • Net market borrowing has been pegged at Rs 4.73 lakh crore, while the gross market borrowing for the financial year has been pegged at Rs 7.1 lakh crore.
  • Dividend from PSU units has been pegged at Rs 53,160 crore.
  • Divestment target for Financial year 2020 has been pegged at Rs 90,000 crore.

Download Union Budget 2019-20 Highlights PDF

GST collection crossed Rs 1 lakh cr in January
  • Revenue collection under Goods and Services Tax (GST) for January crossed Rs 1 lakh crore. Total collection for the month of January last year was Rs 89,825 crore.
  • There has been a significant improvement over collection of Rs 94,725 crore last month and Rs 89,825 crore during the same month last year.
DAC clears changes in defence procurement procedure
  • The Defence Acquisition Council (DAC) chaired by Defence Minister Nirmala Sitharaman approved significant changes in the Defence Procurement Procedure (DPP)-2016 to make it “industry friendly and simpler”.
  • The submission of bank guarantees from Indian private sector banks authorised by RBI in addition to all public sector banks has been approved.
  • This step would cut overhead costs of seller incurred while obtaining these guarantees from banks and enable faster financial transactions.
  • Another significant change is simplification of the best price determination process in which the latest government policies on GST and custom duties have now been taken into account in order to evaluate the lowest bidder.
  • The move gives advantage to the Indian vendors as it gives them an advantage in terms of duty as compared to foreign bidders.
  • The DAC also approved aligning the date of delivery with the date of advance payment instead of the date of contract.
  • These measures are set to provide further impetus to the indigenous defence industry in the country as also encourage foreign industry to manufacture in India.
Defence Acquisition Council (DAC) nods construction of 6 submarines
  • The Defence Acquisition Council (DAC) approved indigenous construction of six Project 75(I) submarines for the Indian Navy at a cost of Rs 40,000 crore under the Strategic Partnership (SP) model.
  • The construction of six submarines under Project 75(I) will provide a major boost to the existing submarine design and manufacturing eco-system in India through transfer of design and equipment technology as well as necessary skill sets.
  • Under the Project 75(I), the Indian Navy intends to acquire six diesel-electric submarines with advanced air-independent propulsion (AIP) systems to enable them to stay under water for longer duration. This capability would significantly increase their operational range.
  • This is second project under the SP model that aims at providing a fillip to the government’s “Make in India” programme.
FACTFILE – Defense Acquisition Council (DAC)
  • Defense Acquisition Council (DAC) was Set Up in August 29, 2001, to counter corruption and speed up decision-making in military procurements.

Head of the Council: Defence Minister

Other members:

  • Deputy Chief of Defence Staff (member secretary)
  • The Minister of State of Defence,
  • The Defence Secretary,
  • The head of the Defence Research and Development Organisation (DRDO),
  • The Chief of Defence Staff (when appointed) and
  • Chiefs of the Army, the Navy and the Air Force
  • The Secretary, Defence Production,
  • The Financial Adviser
  • The Vice-Chief of Defence Staff (VCDS)
  • The Special Secretary (acquisition)

The DAC structure ensures that there are in-built checks and balances in relation to procurements. For instance, the armed forces are well represented, ensuring that the defence bureaucracy does not exercise overwhelming influence on decision- making. The adequate mix of bureaucracy and service officers is also reflected in other bodies involved in acquisition, under the overall supervision of the DAC.

Functions of DAC:

  • Will give policy guidelines to acquisitions, based on long-term procurement plans
  • Will also clear all acquisitions, including imported equipment and those produced indigenously or under a foreign licence
  • To monitor the acquisition process, the DAC will preside over three wings 
    • Defence Procurement Board which will deal with purchases
    • Defence Production Board which will supervise procurement from indigenous sources, such as ordnance factories and equipment manufactured under a foreign licence
    • Defence Research and Development Board

February 02, 2019

Cabinet approves interim Budget 2019-20
  • The Union cabinet chaired by Prime Minister Narendra Modi approved the interim Budget for 2019-20.
  • The interim Budget will be presented by Finance Minister Piyush Goyal in Parliament.
  • Goyal called on President Ram Nath Kovind to get his signatures on financial proposals.
Government to launch National Artificial Intelligence Portal
  • Finance Minister Piyush Goyal announced that the government will soon launch the National Artificial Intelligence Portal.
  • Presenting the Interim Budget 2019-20 in the Lok Sabha, Goyal also said that nine priority areas had been identified for the development of the Artificial Intelligence sector.
2% interest subvention for MSMEs on loan up to Rs 1 crore
  • The government announced 2 per cent interest subvention for micro, small and medium enterprises (MSMEs) for loans up to Rs 1 crore.
  • All MSME units registered with the Goods and Services Tax (GST) will now have 2 per cent interest subvention for loans up to Rs 1 crore.
  • The government had also increased the share of government procurements from MSMEs through Government eMarketplace (GeM) to 25 per cent, including 3 per cent from MSMEs run by women.
  • The GeM has registered transactions of more than Rs 17,500 crore which has led to savings of 25-28 per cent. 

 

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