Sunday, February 02, 2020

THE HINDU NEWSPAPER IMPORTANT ARTICLES 02.02.2020

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VisionIAS 08:15

FRONT PAGE

BOOSTER SHORT

FinMin offers opt-in income tax scheme to boost demand

NATIONAL

FinMin offers opt-in IT scheme to boost demand

Government bites the fiscal deficit bullet

Pat for ‘Beti Padhao’ scheme comes in for flak

INTERNATIONAL

Pakistan declares national emergency to battle locusts

Britain embarks on a future outside the European Union

OPINION

An exercise bereft of macroeconomic vision

Another lost opportunity to revive growth

A government that is clueless on the economy

A Budget exercise that is designed for stressed times

A budget for the middle class

No fireworks

Union Budget 2020-2021 Hindi PDF Download

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VisionIAS 08:01

Union Budget 2020-2021 Hindi PDF Download

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Budget 2020 Highlights PDF

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Budget 2020 at a Glance PDF

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Key to Budget 2020 PDF

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India Union Budget 2020 PDF Download in English

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VisionIAS 07:51

India Union Budget 2020 PDF Download in English

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Employment News 01 February to 07 February 2020 Download pdf

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VisionIAS 19:24

Download Employment News pdf of this week 01 February to 07 February . Check latest job recruitment

Employment News pdf 01 December to 07 December 2018 download

Employment News pdf This Week - 01 February to 07 February.

Hey Aspirants, its the latest for free of Employment Weekly Magazine. You can check latest job recruitment at various office/board. You can check upcoming vacancies and for this week/month. To download this employment magazine click on the link given below.

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Economic Survey 2019-20 Volume 1 and 2 pdf In HINDI

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VisionIAS 19:20

आर्थिक सर्वेक्षण यूपीएससी परीक्षा 2020 प्रारंभिक एवं मुख्य परीक्षा 2020 के लिए अभी डाउनलोड करें ।

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Economic Survey 2019-20 Volume 1 and 2 pdf for UPSC Exam 2020

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VisionIAS 19:15

Economic Survey 2019-20 Volume 1 and 2 pdf for UPSC CS Exam 2020

The HINDU Notes – 01st February 2020

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VisionIAS 18:50

📰 CEA sees growth rebounding to 6%

Economic Survey admits to slowdown, seeks end to norms stifling industry’s global competitiveness

•The Economic Survey for 2019-2020 seems an exercise driven by 20/20 hindsight, combined with an optimistic 20/20 vision for the year to come, as it expects GDP growth to revive from the 5% estimated for this year to a range between 6%-6.5% next year.

•The Survey hints at going easy on fiscal deficit targets in a bid to shore up growth and makes a valiant attempt to evangelise wealth creation by entrepreneurs instead of demonising them.

•It also calls for unravelling multiple regulations stifling Indian industry’s global competitiveness and urges policy makers to stop being “judgemental” about importing inputs, assembling them and re-exporting them, even if it means little value-added at home. Focussing on just six such ‘network’ sectors, could generate 4 crore jobs by 2025 and 8 crore jobs by 2030 and reverse the country’s tepid job creation record, the Survey said.

Blames UPA

•While admitting there has been a slowdown in economy, poised to grow at just 5% in 2019-20 — the slowest in 11 years — Chief Economic Adviser (CEA) Krishnamurthy Subramanian, who had in his last Survey projected 7% growth for the year, attributed the deceleration to slower global growth and domestic financial sector woes that need urgent attention.

•But he added that the seeds for the growth decline since 2017 were sowed under the UPA regime in 2013, when private investment began tapering off due to a credit boom-bust.

•To make a point about how being pro-crony is different from being pro-business, the Survey refers to the gains made unfairly by stocks of connected companies before the CAG report on the 2G spectrum allocations came out in 2011, again rejuvenating UPA-era malfeasance memories.

•While food inflation has spiked, the Survey uses behavioural economics to show that eating a thali has become more affordable in recent years, more so for vegetarians.

•Since 1 A.D, the CEA said, India has been a dominant economic powerhouse, driving wealth creation in the world for three-fourths of known economic history.

•Indicating that it was time to get away from misplaced socialistic instincts to return India to its past glory, Mr. Subramanian called the Survey a synthesis of old ideas with new ones, juxtaposing contemporary evidence with ancient texts.

•The Survey delves into texts from 4th century BC and cites Tamil poet Tiruvalluvar’s Thirukural and Kautilya’s Arthashastra to espouse the virtues of the invisible hand of the market combined with trust in wealth creation.

•It then goes on to tap Wikipedia to identify the 100 largest banks in the world where just one Indian bank figures. The Survey hopes for at least eight domestic entities to join the league so that India can be a $5 trillion economy.

•The higher growth hopes for the coming year are actually based on ‘conservative’ estimates, asserted Sanjeev Sanyal, Principal Economic Adviser to the Finance Ministry.

📰 Foreign Secretary unveils major MEA revamp

Daily Current Affairs, 01st February 2020

vision ias current affairs

VisionIAS 18:30

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.

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