VISION

1) Union Budget 2020-21 is being presented by FM Nirmala Sitharaman
•Union Finance Minister Nirmala Sitharaman is presenting the Union Budget 2020 for the 2nd time in a row. The Union Budget is the yearly financial report estimating the income and expenditure presented to outline future policies to be adopted by the government for sustainable growth and development. The Economic Survey 2019-20 was released on 31st January 2020 by the Chief Economic Advisor of India, Krishnamurthy Subramanian. The GDP growth of India’s forecasts at between 6 to 6.5% for the fiscal year starting April. Sabka Sath, Sabka Vikas, Sabka Vishwas was the tagline of government mentioned by Finance Minister Nirmala Sithraman in her speech.
This time 3 themes of Union Budget 2020-21:
•aspirational India,
•economic development for all, and
•develop a caring society
Union Budget 2020-21 takeaways:
•The tax of only 10% will be charged to Rs 5 lakh-7.5 lakh income as against prevailing 20% rate. 
•From Rs 7.5 lakh-10 lakh income, a tax rate of 15% against 20% prevailing rate.
•For income Rs, 10-12.5 lakh, a rate of 20% will be charged as against 30% earlier.
•For income between Rs 12.5 lakh-15 lakh will be taxed at 25 per cent as against 30%.
•For those at Rs 15 lakh plus income, the tax will be 30%.
•Reducing the corporate tax rates for new companies in the manufacturing sector to 15%. Similarly, for existing companies, rates lowered at 22%
•FY-21 fiscal deficit target pegged at 3.5% of GDP – FY20 fiscal deficit at 3.8% of GDP vs earlier target of 3.3%.
•Tax on Co-op societies to be reduced to 22% plus surcharge, as against current 30%.
•The government has proposed a 100% tax concession to sovereign wealth funds on investment in infrastructure projects.
•Concessional tax rate of 15% extended to power generation companies.
•Dividend Distribution Tax (DDT) shifted to individuals instead of companies.
•Housing made more affordable, tax holiday to affordable housing developers.
•Additional Rs 1.5 lakh tax benefit on affordable housing loans.
•Govt to launch system for instant allotment of PAN on the basis of Aadhaar.
•Customs duty raised on footwear and furniture.
•Nominal health cess on import of medical equipment to be introduced.
•Aadhaar-based verification of taxpayers is being introduced.
•Zero-budget farming may not be a good move for fertiliser companies.
•Health cess on import of medical equipment imposed in Budget.
•The government has removed 70 exemptions, deductions with a view to further simplify the tax regime.
•The budget has provided an outlay of ₹8,000 crores for quantum computing over five years to break into this technology.
•FM Sitharaman halves customs duty on import of newsprint, lightweight coated paper to 5%.
•The government has extended concessional withholding rate of 5% on interest payment to non-residents up to June 30, 2022.
•The government will launch ‘Vivaad Se Vishwas’ Scheme to reduce tax litigation.
•GST as “the most historic reform”. GST has integrated the country economically, a 10% reduction in overall taxes.
•India FDI elevated to 284 Billion USD from 190 Billion USD.
•The central Govt Debt got reduced in March 2019 to 48.7% of GDP from 52.2% in March 2014.
•Propose to undertake 16 Action Points including agricultural-related points, water stress-related points.
•First Action Point includes 3 Model Agricultural-related Laws and water stress-related issue.
•Comprehensive measures for 100 water-stressed districts, PM Kusum schemes removed farmers dependence, Solar Power generation units will be set up for farmers to make a living out of the barren land.
•Kisan Rail through PPP model so that perishable goods can be transported quickly. Krishi Udaan will be launched by MoCA on international and national routes.
•16th Action Point Under Deen Dayal Antodaya Yojana 58 Lakh SHGs has been mobilised, Further expanding.
•2 broad categories: For sector comprising of agriculture, allied sector, 2.83 lakh crores have been made for 2020-21, 1.6 lakh crores for agriculture For rural and Panchayati Raj- 1.23 lakh crores.
•112 Aspirational Districts to be covered for AYUSHMAN Treatment.
•Wellness water and sanitation & Healthcare Mission Indradhanush expanded to cover.
•12 diseases, Fit India Movement, Jal Jeevan Mission, Swachh Bharat Mission.
•69,000 crores to the health sector.
•TB haarega, Desh Jeetega” Campaign, Strengthen the campaign to end Tuberculosis by 2025. Jan Aushadi Kendra Scheme offering 2000 medicines, 300 surgical by 2024.
•The new education policy will be announced soon, IND-SAT exam proposed in Asian and African country for foreign university 3.60 lakh crores for Jal Jeevan mission. New Edu policy soon. Swachh Bharat Mission allocation Rs 12,300 crore.
•Augmenting local water resources, promote water harvesting in 2020-21, 11,500 crores will be provided.
•By 2030, India will have the largest working-age population in the world.
•The new education policy will be announced soon, IND-SAT exam proposed in Asian and African country for foreign university New Edu policy soon.
•About 150 higher education institutes will start Apprenticeship embedded degree diploma courses by March 2021. Steps would be taken to enable sourcing to provide higher quality education. Urban Local Bodies to provide internship opportunities for young engineers. For deprived students, degree level full-fledged online education programme to be started.
•National Police University and National Foreign University will be set up. Medical colleges to be set up at district level to produce more doctors.



•High-Speed Train Mumbai-Ahemadabad would be actively pursued.
•27000 Km Train Track Electrification.
•Solar-powered capacity to be set up alongside rail tracks.
•To build a seamless national cold supply chain for perishables, Indian Railways will set up Kisan Rail through PPP model so that perishable goods can be transported quickly. Krishi Udaan will be launched by MoCA on international and national routes.
•Rs 27,300 crore for the development and promotion of industry and commerce.
•PM Govt allows tech companies to set up Data Centre parks to provide internet to citizens. It allocates Rs 6,000 crore for BhartatNet.
•5600 crores Allocated to nutrition-related programmes for FY 2020-21. Nutrition of Children, pregnant women, Poshan Abhiyan was launched.
•More than 6 lakh Anganwadi workers equipped with smartphones to update the nutritional status of 10 crore households Task Force appointed to mothers.
•For SC and OBC Classes, 85,000 crores allocated for FY 2020-21 For ST Classes, 53,700 crores allocated for FY 2020-21 For Senior Citizens & Divyangs, 9,500 crores for 2020-21.
•Indian Institute of Heritage and Culture to be set up. 5 archaeological sites would be developed as iconic sites with the onsite museum: Rakhi Garhi Haryana, Hastinapur UP, Shivsagar Assam, Dolavira Assam, Adichalanur in TN.
•3150 crores allocated to the Ministry of Culture. Tribal Museum to be set up in Ranchi Jharkhand. The maritime museum would be set up.
•Institute to have a deemed University Status.
•Establish Indian Institute of Heritage & Conservation under Culture Ministry.
•Prepaid Smart Meters by 2023.
•16200 Km Gas Grid expanded.
•Fibre net to link Villages.
•Data Centre Park across India.
•FibreLink gram Panchayats.
•1 lakh gram panchayats to be connected with optical fibre technology.
•Our commitments for Paris agreements will start from 1st Jan 2021 Encourage states to ensure cleaner air- 4,400 Crores allocation for the ministry of environment.
•1 Port to be on Stock Exchange.
•Delhi-Mumbai Express-Way.
•Self Help Groups will be allowed to set up village agriculture storage facilities. Govt will involve rural youth in coastal areas to boost fish production.
•National Recruitment Agency has to be set up.
•Common eligibility test to be set up for non-gazetted posts. A centre will be put up in each district, especially aspirational districts.
•FM announces 2 National Science Schemes Genetic Database for drug innovation & Quantum Computing for advancing our computational n analytical capabilities to join an exclusive global league – Rs 8000 Cr over 5 years.
•Proposed to sell the balance holding of the government of India’s IDBI  to private retail and institutional investors through the stock exchange.
•The government raised the insurance cover to Rs 5 lakh per depositor, which is currently Rs 1 lakh. This comes after the PMC bank crisis.
•Krishi UDAAN scheme will be launched by the Aviation Ministry.
•NBFCS and cooperatives are active in agriculture. NABARD refinance scheme will be expanded. There will be Rs 15 lakh crore agriculture credit availability.
•New Education policy will be announced soon.
•Urban local bodies to provide internship to young engineers for a year so that they come to know how the government functions.
•Degree level online education courses will be introduced which can be provided by colleges in the top 100 list by National Educational Institute List. 
•Indian Gold February futures reclaimed the Rs 41,000-mark and could even retest the previous record high of 41,293 per 10 gram.
•A new scheme NIRVIC will be launched with the aim of increasing India’s export credit. It will look into setting up hubs in smaller rural areas and districts. The scheme will be launched this year itself.
•India will host G20 Presidency in the year 2022 and the Finance Ministry is set to allocate Rs 100 crore for the preparations.
•The Ministry of Finance is set to allocate Rs 28,600 crore for programs meant especially for women. “Beti Bachao Beti padhao” is a highly successful scheme, girls registration in school has surpassed that of boys.
•Taskforce to be set up to recommend marriageable age for women
•The government has plans to raise money through LIC IPO. The government will thus sell part of its holding in the LIC.
•The government wishes to institute a charter for the taxpayers charter in the statute and ensure taxpayers are free against tax harassment.
•100 more airports will be developed to provide support to the PM Udaan scheme BY 2024.
•The Finance Ministry will allocate Rs 22,000 crore to power renewable energy sector in this financial year. The govt proposes to expand the national gas grid to reach 27,000 km from the current reach of 6,000 km.
•Nominal growth of GDP estimated for 2020-21 on the basis of trends at 10%. Revised estimates of the expenditure for FY 2020-21, 26.99 lakh crores. Receipts estimated at 19.32 lakh crores.
•Delhi-Mumbai Expressway will be completed by 2023.
•Chennai-Bengaluru Expressway to be launched soon.
•Government to set up project preparation facilities for the infrastructure sector, national logistic policy soon.
•Rs 40,000 cr per annum will be revenue foregone from new income tax rates for individuals.
•The net market borrowings would be Rs 4.99 lakh cr in fiscal 20 and Rs 5.36 lakh cr in next fiscal. 
•Rs 3.50 lakh crore infused as capital in public sector banks in past years.
•The government has proposed Rs 30,757 crore for Jammu and Kashmir, and Rs 5,958 crore for Ladakh for fiscal 2020-21.

2) Global health Emergency declared over Coronavirus by WHO
•World Health Organization has declared an international emergency over the novel coronavirus from China. The organization has declared an emergency as the disease has spread to 18 other countries apart from China where it originated. Also, the disease is spreading through human-to-human contact. According to WHO, there are more than 7,711 confirmed cases and 12,167 suspected cases all over the world. The spread of the disease now fulfils the criteria of Public Health Emergencies of International Concern (PHEIC) and hence emergency has been declared.

3) ISRO working on low-cost satellite launch vehicles
•The Indian Space Research Organisation (ISRO) has announced that it is preparing low-cost satellite launch vehicles costing around 30-35 crores each. These low-cost launch vehicles can put into orbit satellites weighing 500 kgs. This capability will give ISRO a big commercial boost as it will be able to cater to micro, mini and medium segments of the market. The biggest advantage is that ISRO now can manufacture these vehicles in a turnaround time of just 3 weeks’ time.

4) 1st indigenous bio-jet fuel aircraft of IAF landed successfully in Leh
•The AN-32 aircraft of Indian Air Force powered with 10% blend of bio-jet fuel took off and landed successfully in Leh airport. This is the first time, both the engines of an aircraft are powered with bio-jet fuel. The bio-jet fuel is manufactured from “Tree-Borne oils”. The raw materials for the oil are grown and procured from Chhattisgarh tribal areas. This will help in reducing India’s dependence on crude oil imports and also will assist in reducing carbon emissions.

5) Goa 2020 National Games unveils ‘Rubigula’ as official mascot
•‘Rubigula’, Flame-Throated Bulbul, has been unveiled as the official mascot for the Goa 2020 National Games in Panaji, Goa. The Flame-Throated Bulbul is the state bird of Goa. Goa will be hosting the 36th edition of the National Games from 20th October to 4th November 2020.

FRONT PAGE

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CAA fulfils wish of Gandhiji, President tells Parliament

GDP revised downwards for 2018-19

NATIONAL

Essential Commodities Act is outdated, must go

‘No evidence of wrong estimation of growth’

High fees keep poor children away from higher education

Needed: fewer regulations for start-ups

Stubble burning incidents come down

Pro-business policy vital for India to become a $5 trillion economy

Thalinomics: the formula behind one square meal

Bigger banks needed for $5 trillion economy

A chance to chart China-like export trajectory

Coronavirus | India on high alert after WHO declares global emergency

OPINION

1) World Leprosy Day 2020
•In India, World Leprosy Day is observed on Jan 30 every year to commemorate the death of Mahatma Gandhi who was assassinated on this day in 1948. This day was chosen by the French humanitarian Raoul Follereau as a tribute to Mahatma Gandhi, who helped people affected with leprosy.

•World Leprosy Day is observed internationally every year on the last Sunday of January to increase public awareness of the Leprosy. This year theme of World Leprosy Day is “Leprosy isn’t what you think”.

2) SAMPRITI-IX: India-Bangladesh joint exercise to be held in Meghalaya
•The 9th edition of joint military training exercise between India-Bangladesh SAMPRITI-IX will be conducted at Umroi, Meghalaya. Exercise SAMPRITI is an important bilateral defence cooperation endeavour between India and Bangladesh which is hosted alternately by both countries. During the joint exercise, Command Post Exercise and Field Training Exercise is to be conducted according to the United Nations Charter. The troops of both the armies will also practice Counter-Terrorist operation.

3) President Trump inks USMCA North American trade deal
•US President Donald Trump has signed the new United States–Mexico–Canada Agreement (USMCA) North American trade pact with Canada and Mexico into law. The USMCA, crafted over years of negotiation between the three countries, replaces the 1994 North American Free Trade Agreement, or NAFTA. It also makes changes to e-commerce, intellectual property protection and dispute settlement for investors, as well as imposing tougher labour provisions, requiring reforms to Mexico’s laws.




4) Eimear Noone set to become Oscars’ first female orchestra conductor
•Irish composer Eimear Noone will be the first woman to conduct an orchestra at the Oscars guest-segment. She will lead the 42-piece orchestra at the Academy Awards as it plays excerpts from five nominated scores. She’s widely hailed as the world’s leading composer of video game music and at 22 became the first woman to conduct at the National Concert Hall.

5) RBI Executive Director Janak Raj appoints as MPC Member
•The Reserve Bank of India (RBI) appointed its Executive Director Janak Raj as member of the Monetary Policy Committee (MPC). He will replace M D Patra, who was recently elevated as Deputy Governor of the RBI. The MPC is headed by the RBI Governor. The Monetary Policy Committee of India is responsible for fixing the benchmark interest rate in India. The meetings of the Monetary Policy Committee are held at least 4 times a year and it publishes its decisions after each such meeting.

6) Google announces $1-million grant to promote news literacy in India
•Google announced a  1-million USD grant to promote news literacy among Indians. According to Google, the grant will work towards building a strong network of senior reporters and journalists, who will counteract fake news in India. The funding support is part of Google’s broader, $10-million commitment to media literacy.

•Google’s initiative will focus on delivering news literacy, especially in non-metro cities. Under the programme, Internews will put together a team of 250 journalists, fact-checkers, academicians, and NGO workers, who will be trained by global and Indian experts in a curriculum adapted to local needs and available in seven Indian languages.

7) Theatre artiste Sanjana Kapoor will receive the prestigious French honour
•Well-known theatre person, Sanjana Kapoor received the prestigious French honour of ‘Chevalier dans lOrdre des Arts et des Lettres (Knight of the Order of Arts and Letters) for her outstanding contribution to the field of theatre. She is the daughter of Late Bollywood actor Shashi Kapoor.

•L’Ordre des Arts et des Lettres is a French government distinction instituted in 1957 by the Ministry of Culture and is conferred, regardless of nationality, on persons who have distinguished themselves by their creativity in the fields of art or literature, or for their contribution to promoting art and literature in France and throughout the world.

8) India hockey captain Rani Rampal named 2019 World Games Athlete of the Year
•Indian women’s team captain Rani Rampal became the 1st-ever hockey player worldwide to win the prestigious ‘World Games Athlete of the Year’ award 2019. The prize is given for outstanding performance, along with social commitment and fair behaviour. The 25-year-old Rani has been part of the Indian women’s hockey team since she was 15 years old and has made 240 appearances for the national team thus far. She was the player of the tournament in the FIH Women’s Series Finals in Hiroshima, Japan.

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