INTERNATIONAL
Zoe
Konstantopoulou Elected As new President Of Greece
Greece Parliament has elected Zoe Konstantopoulou, a member of the left wing party Syriza as its new President on 6 February. She was elected after receiving a record number of 235 of 300 deputies’ votes in the Parliament. With this win, she has the record of more votes a President of parliament received after the restoration of democracy inGreece Greece
Greece Parliament has elected Zoe Konstantopoulou, a member of the left wing party Syriza as its new President on 6 February. She was elected after receiving a record number of 235 of 300 deputies’ votes in the Parliament. With this win, she has the record of more votes a President of parliament received after the restoration of democracy in
Australian Prime Minister Tony Abbott on 9 February survived a vote of confidence motion on spilling the top leadership of Liberal Party. Tony Abbott was elected as the Prime Minister of Australia in September 2013.
The leaders of
Sri Lanka
Parliament Enacts witness Protection Law
Sri Lankan Parliament has passed the Assistance to and Protection of Victims of Crime and Witnesses Bill on 20 February. This bill aims at protecting the rights of criminal victims and witnesses especially in human rights accountability.
Sri Lankan Parliament has passed the Assistance to and Protection of Victims of Crime and Witnesses Bill on 20 February. This bill aims at protecting the rights of criminal victims and witnesses especially in human rights accountability.
INDIA & WORLD
India Ranked
136 In World Press Freedom Index (WPFI) 2015
India was ranked 136 out of 180 nations worldwide in terms of press freedom in 2015, which marks an improvement from its rank of 140 in 2014, even though its absolute score declined from 40.34 to 40.49. In the top of the list were three Scandinavian countries:Finland
on the 1st position followed by Norway
and Denmark
India was ranked 136 out of 180 nations worldwide in terms of press freedom in 2015, which marks an improvement from its rank of 140 in 2014, even though its absolute score declined from 40.34 to 40.49. In the top of the list were three Scandinavian countries:
India and Sri
Lanka Signed 4 Agreements Including Civil Nuclear Cooperation
Sri Lanka’s newly-elected President Maithripala Sirisena on 16 February held talks with Prime Minister Narendra Modi in New Delhi.After the talks, India and Sri Lanka signed bilateral agreements on civil nuclear cooperation, cultural cooperation and cooperation in the field of Agriculture. Besides, an agreement was also signed forSri Lanka ’s
participation in the Nalanda University Project.India and Sri Lanka also agreed to expand defence and
strategic cooperation, including a trilateral format with the Maldives
Sri Lanka’s newly-elected President Maithripala Sirisena on 16 February held talks with Prime Minister Narendra Modi in New Delhi.After the talks, India and Sri Lanka signed bilateral agreements on civil nuclear cooperation, cultural cooperation and cooperation in the field of Agriculture. Besides, an agreement was also signed for
US To Provide
Work Permits For H-1B Spouses Visa Holders
The United States on 24 February announced that it would allow work permits to spouses of H-1B visa holders from 26 May 2015. Under existing US laws, spouses of H-1B visa holders are not eligible to work. This announcement is expected to benefit thousands of talented and professional spouses who have settled in US but are unable to work.
The United States on 24 February announced that it would allow work permits to spouses of H-1B visa holders from 26 May 2015. Under existing US laws, spouses of H-1B visa holders are not eligible to work. This announcement is expected to benefit thousands of talented and professional spouses who have settled in US but are unable to work.
NATIONAL
31 Major
Minerals To Be Notified As Minor Minerals
The Union government has on 5 February decided to notify 31 major minerals as minor ones.This is being done to devolve more power to the states and, consequently, expedite the process of mineral development in the country. State governments are allowed to make rules to regulate the grant of quarry leases, mining leases or other mineral concessions in respect of minor minerals.
The Union government has on 5 February decided to notify 31 major minerals as minor ones.This is being done to devolve more power to the states and, consequently, expedite the process of mineral development in the country. State governments are allowed to make rules to regulate the grant of quarry leases, mining leases or other mineral concessions in respect of minor minerals.
Telecom
Subscriber Base Reaches To 97 crore
Telecom regulator Telecom Regulatory Authority of India (TRAI) on 7 February released a report on subscriber base.India
telecom subscriber base reaches all-time high at 970 million at the end of
December 2014.The number of telephone subscribers in India
Telecom regulator Telecom Regulatory Authority of India (TRAI) on 7 February released a report on subscriber base.
PM
Constituted 3 Sub-groups Of Chief Ministers within NITI Aayog
The first meeting of the Governing Council of NITI (National Institution for Transforming India) Aayog was held inNew
Delhi
* First sub-group - It will study the 66 centrally-sponsored schemes and recommend which schemes should continue, which should be transferred to states, and which to discontinue.
* Second sub-group – It will focus on skill development and creation of skilled manpower within states.
* Third sub-group – It will decide on the institutional mechanisms to be evolved for Swachh Bharat Abhiyaan, so that cleanliness becomes a part of life in perpetuity.
The first meeting of the Governing Council of NITI (National Institution for Transforming India) Aayog was held in
* First sub-group - It will study the 66 centrally-sponsored schemes and recommend which schemes should continue, which should be transferred to states, and which to discontinue.
* Second sub-group – It will focus on skill development and creation of skilled manpower within states.
* Third sub-group – It will decide on the institutional mechanisms to be evolved for Swachh Bharat Abhiyaan, so that cleanliness becomes a part of life in perpetuity.
PM Narendra
Modi Launched ‘Soil Health Card’ scheme
Prime Minister Narendra Modi launched the centrally sponsored nation-wide ‘Soil Health Card’ (SHC) scheme on 19 February in Suratgarh town ofSriganganagar
Prime Minister Narendra Modi launched the centrally sponsored nation-wide ‘Soil Health Card’ (SHC) scheme on 19 February in Suratgarh town of
STATES
Maharashtra
Govt Planning To Revamp Jeevan Amrut Yojana
Maharashtra Government is planning to revamp the Jeevan Amrut Yojana (blood-on-call) scheme to make it more beneficial to people. State government is seeking to strengthen the network of blood storage units in rural areas instead of current mechanism of transporting blood through motorcycles. It is first of its kind scheme in the country, launched in 2014. It aimed at facilitating blood supply to patients scheduled to undergo surgeries and medical procedures in remote areas.
Maharashtra Government is planning to revamp the Jeevan Amrut Yojana (blood-on-call) scheme to make it more beneficial to people. State government is seeking to strengthen the network of blood storage units in rural areas instead of current mechanism of transporting blood through motorcycles. It is first of its kind scheme in the country, launched in 2014. It aimed at facilitating blood supply to patients scheduled to undergo surgeries and medical procedures in remote areas.
Adani To Set
Up Country’s Largest 10,000 MW solar Plant In Rajasthan
Adani Enterprises Ltd on 9 February signed a pact with the Rajasthan government to develop the country’s largest solar park in the state with 10,000 MW capacity over the next 10 years at an estimated investment of about Rs 40,000 crore. The company will set up solar power project of 5000 MW on its own in the next five years. The Adani Group will also develop solar manufacturing units and power evacuation systems.
Adani Enterprises Ltd on 9 February signed a pact with the Rajasthan government to develop the country’s largest solar park in the state with 10,000 MW capacity over the next 10 years at an estimated investment of about Rs 40,000 crore. The company will set up solar power project of 5000 MW on its own in the next five years. The Adani Group will also develop solar manufacturing units and power evacuation systems.
The Election Commission of India (ECI) on 10 February declared the results of Delhi Legislative Assembly Elections 2015. Aam Aadmi Party (AAP) headed by social activist turned politician Arvind Kejriwal with 67 seats has emerged as the largest party in the house of 70 seats. Aam Aadmi Party (AAP) – Won record 67 seats with record vote share of 54.2% percent. Bharatiya Janata Party (BJP) – Won 3 seats with vote share of 32.3% percent. 2015 Delhi Legislative Assembly elections were held on 7 February 2015 to elect 70 members of the Sixth Delhi Legislative Assembly.
Himachal
Pradesh Chief Minister Launched CCTNS
Himachal Pradesh Chief Minister Virbhadra Singh on 11 February launched the Crime and Criminal Tracking Network System (CCTNS) project in the state. This 19 crore rupees project will be completely funded by the Union Government. It will help in connecting 177 sites and 114 police stations in the state besides 13 district headquarters, 26 sub-divisional police officers and three police ranges along with state crime records bureau.
Himachal Pradesh Chief Minister Virbhadra Singh on 11 February launched the Crime and Criminal Tracking Network System (CCTNS) project in the state. This 19 crore rupees project will be completely funded by the Union Government. It will help in connecting 177 sites and 114 police stations in the state besides 13 district headquarters, 26 sub-divisional police officers and three police ranges along with state crime records bureau.
CONFERENCES
15th Delhi Sustainable Development Summit
The 15th Delhi Sustainable Development Summit was held from 5-7 February 2015 in New Delhi.The theme of the summit was Sustainable Development Goals and Dealing with Climate Change.The summit was organized by The Energy and Resources Institute (TERI). The summit witnessed a pool of distinguished speakers from a wide spectrum of backgrounds. Politicians, Diplomats, Corporates, Government Officials, media, NGOs and activists attended the summit.During the summit, two reports namely, Global Sustainable Development Report and Energy Security Outlook were also launched.Issues like the need for mitigation in Energy supply sector, generating finances for projects focusing on Sustainable Development, and educating the youth about sustainable development were discussed. Stress was laid on collective actions of both public and private sectors in achieving the Sustainable Development Goals (SDGs).
The 15th Delhi Sustainable Development Summit was held from 5-7 February 2015 in New Delhi.The theme of the summit was Sustainable Development Goals and Dealing with Climate Change.The summit was organized by The Energy and Resources Institute (TERI). The summit witnessed a pool of distinguished speakers from a wide spectrum of backgrounds. Politicians, Diplomats, Corporates, Government Officials, media, NGOs and activists attended the summit.During the summit, two reports namely, Global Sustainable Development Report and Energy Security Outlook were also launched.Issues like the need for mitigation in Energy supply sector, generating finances for projects focusing on Sustainable Development, and educating the youth about sustainable development were discussed. Stress was laid on collective actions of both public and private sectors in achieving the Sustainable Development Goals (SDGs).
AWARDS & HONOURS
Eminent
Marathi Writer Bhalchandra Nemade Selected For Jnanpith Award 2014
Eminent Marathi writer Bhalchandra Nemade on 6 February was chosen for the Jnanpith Award 2014 by the Jnanpith Selection Board. He is the 4th Marathi writer to receive the honour and is the 50th recipient of Jnanpith award.His novel Kosala (Cocoon) published in 1963 was not only instrumental in changing the dimensions of the Marathi novel, but also the world of Marathi fiction was transformed with its advent.
Eminent Marathi writer Bhalchandra Nemade on 6 February was chosen for the Jnanpith Award 2014 by the Jnanpith Selection Board. He is the 4th Marathi writer to receive the honour and is the 50th recipient of Jnanpith award.His novel Kosala (Cocoon) published in 1963 was not only instrumental in changing the dimensions of the Marathi novel, but also the world of Marathi fiction was transformed with its advent.
57th Annual
Grammy Awards
The 57th Annual Grammy Awards were held on 8 February at theStaples Center
in Los Angeles , California
* Two Indians — Ricky Kej and Neela Vaswani — took home a Grammy Award each. Neela Vasvani won the trophy in the Best Children’s Album category for “I Am Malala: How One Girl Stood Up For Education And Changed The World (Malala Yousafzai)”. She had narrated the audio version of the book. On the other hand Ricky Kej’s collaboration in the album “Winds Of Samsara” won the Best New Age Album trophy. He had teamed up with South African musician Wouter Kellerman for the album, which symbolises peace and harmony.
* Beck Hansen’s album “Morning Phase” won the Best Album of the Year Award while the song “Stay With Me” featuring James Napier, William Phillips & Sam Smith won Best Song of the Year Award and Best Record of the Year Award.
The 57th Annual Grammy Awards were held on 8 February at the
* Two Indians — Ricky Kej and Neela Vaswani — took home a Grammy Award each. Neela Vasvani won the trophy in the Best Children’s Album category for “I Am Malala: How One Girl Stood Up For Education And Changed The World (Malala Yousafzai)”. She had narrated the audio version of the book. On the other hand Ricky Kej’s collaboration in the album “Winds Of Samsara” won the Best New Age Album trophy. He had teamed up with South African musician Wouter Kellerman for the album, which symbolises peace and harmony.
* Beck Hansen’s album “Morning Phase” won the Best Album of the Year Award while the song “Stay With Me” featuring James Napier, William Phillips & Sam Smith won Best Song of the Year Award and Best Record of the Year Award.
Amartya Sen
Won John Maynard Keynes Prize
Economist and Nobel laureate Amartya Sen has won the newly instituted Charleston-EFG John Maynard Keynes Prize 2015 on 10 February.With this, Professor Sen will receive 7500 British pounds to commission a work of art and will give the annual Charleston-EFG Keynes Lecture at the Charleston Festival in theUnited Kingdom
Economist and Nobel laureate Amartya Sen has won the newly instituted Charleston-EFG John Maynard Keynes Prize 2015 on 10 February.With this, Professor Sen will receive 7500 British pounds to commission a work of art and will give the annual Charleston-EFG Keynes Lecture at the Charleston Festival in the
87th Annual Academy
Oscar Awards 2015
The 87th Academy Awards ceremony, presented by theAcademy
of Motion Picture Arts and Sciences
(AMPAS) was held on 23 February at the Dolby Theatre in Hollywood
* Best Actor – Eddie Redmayne (The Theory of Everything).
* Best Actress – Julianne Moore (StillAlice
* Best Supporting Actor – J. K. Simmons (Whiplash).
* Best Supporting Actress – Patricia Arquette (Boyhood).
* Best Director – Alejandro G. Iñárritu for Birdman or (The Unexpected Virtue of Ignorance).
* Best Original Screenplay – Birdman or (The Unexpected Virtue of Ignorance).
* Best Adapted Screenplay – The Imitation Game.
* Best Original Song – Glory (Selma
* Best Original Score – The Grand Budapest Hotel.
* Best Production Design - The Grand Budapest Hotel.
* Best Editing – Whiplash.
* Best Cinematography – Birdman or (The Unexpected Virtue of Ignorance).
* Best Sound Editing – American Sniper.
* Best Sound Mixing – Whiplash.
* Best Foreign Language Film – Ida (Poland
* Best Documentary Feature – CitizenFour.
* Best Documentary Short Subject – Crisis Hotline: Veterans Press 1.
* Best Live Action Short Film – The Phone Call.
* Best Visual Effects – Interstellar.
* Best Animated Feature Film – Big Hero 6.
* Best Animated Short Film – Feast.
* Best Makeup and Hairstyling – The Grand Budapest Hotel.
* Best Costume Design – The Grand Budapest Hotel.
* Most awards – Birdman or (The Unexpected Virtue of Ignorance) and The Grand Budapest Hotel (Both received 4 awards).
* Most nominations in 87th Academy Awards – Birdman or (The Unexpected Virtue of Ignorance) and The Grand Budapest Hotel (both 9 nominations)
The 87th Academy Awards ceremony, presented by the
* Best Actor – Eddie Redmayne (The Theory of Everything).
* Best Actress – Julianne Moore (Still
* Best Supporting Actor – J. K. Simmons (Whiplash).
* Best Supporting Actress – Patricia Arquette (Boyhood).
* Best Director – Alejandro G. Iñárritu for Birdman or (The Unexpected Virtue of Ignorance).
* Best Original Screenplay – Birdman or (The Unexpected Virtue of Ignorance).
* Best Adapted Screenplay – The Imitation Game.
* Best Original Song – Glory (
* Best Original Score – The Grand Budapest Hotel.
* Best Production Design - The Grand Budapest Hotel.
* Best Editing – Whiplash.
* Best Cinematography – Birdman or (The Unexpected Virtue of Ignorance).
* Best Sound Editing – American Sniper.
* Best Sound Mixing – Whiplash.
* Best Foreign Language Film – Ida (
* Best Documentary Feature – CitizenFour.
* Best Documentary Short Subject – Crisis Hotline: Veterans Press 1.
* Best Live Action Short Film – The Phone Call.
* Best Visual Effects – Interstellar.
* Best Animated Feature Film – Big Hero 6.
* Best Animated Short Film – Feast.
* Best Makeup and Hairstyling – The Grand Budapest Hotel.
* Best Costume Design – The Grand Budapest Hotel.
* Most awards – Birdman or (The Unexpected Virtue of Ignorance) and The Grand Budapest Hotel (Both received 4 awards).
* Most nominations in 87th Academy Awards – Birdman or (The Unexpected Virtue of Ignorance) and The Grand Budapest Hotel (both 9 nominations)
SPORTS & GAMES
35th National
Games
The 35th National Games of India concluded on 14 February 2015 at Thiruvananthapuram (Kerala). In all the 35th National Games saw disbursal of 1334 medals comprising of 405 Gold, 406 Silver and 523 Bronze medals respectively. Services Sports Control Board emerged overall champion and winner of the Raja Bhalendra Singh Trophy for the third consecutive time. Services have won total 159 medals including 91 Gold Medals. It was followed by hosts Kerala with 54 golds and Haryana with 40 golds. Now the 36th edition of National Games would be held atGoa in 2017.
The 2015 National Games of India, also known as the 35th National Games of
India, were held in Kerala from 31 January 2015 to 14 February 2015.The mascot
of the 35th National Games is”’Ammu”’, The Great Hornbill, or the Great Indian
Hornbill, the State bird of Kerala.
The 35th National Games of India concluded on 14 February 2015 at Thiruvananthapuram (Kerala). In all the 35th National Games saw disbursal of 1334 medals comprising of 405 Gold, 406 Silver and 523 Bronze medals respectively. Services Sports Control Board emerged overall champion and winner of the Raja Bhalendra Singh Trophy for the third consecutive time. Services have won total 159 medals including 91 Gold Medals. It was followed by hosts Kerala with 54 golds and Haryana with 40 golds. Now the 36th edition of National Games would be held at
Anil Kumble
and Betty Wilson Inducted into ICC Cricket Hall of Fame
FormerIndia captain Anil
Kumble and Australian legend Betty Wilson were inducted into the International
Cricket Council Hall of Fame on 22 February at the Melbourne Cricket Ground, Australia Wilson Wilson India Wilson Wilson
Former
Chris Gayle
Becomes First Batsman To Hit Double Century In World Cup History
West Indies ’ opener Chris Gayle made his name
into history books by becoming the first ever batsman to score a double-century
in the ICC World Cup. He achieved this feat against Zimbabwe
in a Pool B clash in Canberra West Indies innings to reach the
double-century mark in 138 balls. Assisted by this double-century, West Indies reached mammoth total of 372 for 2 wickets.
Gayle surpassed the previous World Cup best of 188 not out by South Africa ’s Gary Kirsten against the United Arab Emirates at Rawalpindi
AB De
Villiers Hits Fastest 150 In ODI History
South Africa Sydney and
also broke the previous record of Australia South Africa
ECONOMY
RBI 6th
Bi-monthly Monetary Review 2014-15
The Reserve Bank of India (RBI) has on 3 February announced sixth Bi-Monthly Monetary Policy Statement 2014-15. In its bi-monthly monetary policy statement, RBI has not changed its main lending rate i.e.Repo Rate and cash reserve ratio (CRR). But changed statutory liquidity ratio (SLR) of scheduled commercial banks.The RBI reduced the statutory liquidity ratio (SLR) of scheduled commercial banks by 50 basis points from 22.0% to 21.5% of their net demand and time liabilities.
The Reserve Bank of India (RBI) has on 3 February announced sixth Bi-Monthly Monetary Policy Statement 2014-15. In its bi-monthly monetary policy statement, RBI has not changed its main lending rate i.e.Repo Rate and cash reserve ratio (CRR). But changed statutory liquidity ratio (SLR) of scheduled commercial banks.The RBI reduced the statutory liquidity ratio (SLR) of scheduled commercial banks by 50 basis points from 22.0% to 21.5% of their net demand and time liabilities.
ICICI Bank
Launches India’s First Digital Bank Pockets
The Industrial Credit and Investment Corporation of India (ICICI) Bank, has on 10 February launchedIndia
The Industrial Credit and Investment Corporation of India (ICICI) Bank, has on 10 February launched
Railway
Budget 2015-16
Railway Minister Suresh Prabhu on 26 February 2015 presented the Railway Budget 2015-16 in the Lok Sabha. In his first Railway Budget, Prabhu outlined a plan to invest over 8 lakh crore rupees over 5 years. The size of the Plan Budget has gone up by 52 percent from 65789 crore rupees in 2014-15 to 100011 crore rupees in 2015-16.
2015-16 Railway Budget at a Glance (Rs in crore) :-
* Gross Traffic Receipts – 1,83,578.00
* Total Work Expenditure – 1,62,210.00
* Net Railway Revenue – 25,076.45
* Total Passenger Earnings – 50,175.00
* Good Earnings – 1,21,423.00
* Divindend Payable To General Revenues – 10,810,74
* Operation Ratio – 88.5%
Railway Minister Suresh Prabhu on 26 February 2015 presented the Railway Budget 2015-16 in the Lok Sabha. In his first Railway Budget, Prabhu outlined a plan to invest over 8 lakh crore rupees over 5 years. The size of the Plan Budget has gone up by 52 percent from 65789 crore rupees in 2014-15 to 100011 crore rupees in 2015-16.
2015-16 Railway Budget at a Glance (Rs in crore) :-
* Gross Traffic Receipts – 1,83,578.00
* Total Work Expenditure – 1,62,210.00
* Net Railway Revenue – 25,076.45
* Total Passenger Earnings – 50,175.00
* Good Earnings – 1,21,423.00
* Divindend Payable To General Revenues – 10,810,74
* Operation Ratio – 88.5%
Highlights of the Railway Budget 2015-16
:-
New Trains :- Announcement of no
new trains (This will be done after doing a comprehensive analysis and feasibility
studies)
Passenger Fare :- No increase in
Passenger fares
Freight :- Freight increase up
to 10% on select items: 10% for urea, 2.7% for cement and 6.3% for coal, 0.8%
for iron and steel
Railway Operations :- Railway’s
Operating Ratio to improve to 88.5% in 2015-16 compared with targetted 91.8% in
2014-15
Railway Finances :-
a) Five-year outlay at Rs 8.5 lakh crore
b) Plan expenditure in Railways to he hiked 52%
to Rs 1.11 lakh crore for 2015-16
c) 77 projects totalling Rs 96,182 crore on cards
to expand capacity
Railway Safety :-
a) Rs 6,581 cr earmarked on level crossing safety
b) Train protection warning system to prevent
fires
c) Collision avoiding system
d) 917 safety work projects to eliminate over
3,000 unmanned crossings in all states
e) Audio visual warning and radio based signals
design for unmanned level crossing with technical assistance from IIT-Kanpur on
cards to enhance safety
f) Five years safety plan will be ready by June
2015
g) Surveillance camera on cards for women’s
safety, financing from Nirbhaya fund
Improving Train Speed :- Speed
of 9 railway corridors to be increased from existing 110 and 130 kmph to 160
and 200 kmph respectively. Average speed of freight trains in empty and loaded
conditions will be enhanced to 100 kmph for empty freight trains and 75 kmph
for loaded trains.
Network
Expansion :- Fast-track sanctioned works on 7000 kms of
double/third/fourth lines Commission of 1200 km of network in 2015-16 at an
investment of 8686 crore rupees.
Railway Modernisation :-
a) 6,000 km of route km to be electrified in
2015-16, up from 462 route km in 2014-15
b) 800 km of gauge conversion on cards
Railway Convenience :-
a) Proposes to move towards paperless ticketing
b) Now, book your tickets 120 days in advance
c) Rs 120 crore provided for lifts and escalators
at Railway stations
d) Phone charging facilities will be provided in
all trains including general compartments
e) Online booking of wheelchairs for seniors,
physically challenged passengers
f) Food can be ordered through IRCTC website
while booking tickets
g) Wifi availability at 400 railway stations
across the country including B class stations too
h) To introduce “Operation 5 minutes” to allow
unreserved passengers to book tickets in 5 minutes
Railway Cleanliness :-
a) 17,000 toilets to be replaced and modernized
b) Vacuum-based toilets on cards
c) New toilets in 650 railway stations
d) Railways will set up waste management plants
to dispose off waste
e) Will work on Swacch Rail in lines with Swacch
Bharat
Bullet Train :- Feasibility
study for High Speed Rail between Mumbai-Ahmadabad is in advanced stage.
Station Redevelopment :- Zonal and Divisional offices to be empowered for quicker decision making Development of 10 Satellite Railway terminals in major cities with twin purpose of decongesting the city and providing service to suburban passengers
Station Redevelopment :- Zonal and Divisional offices to be empowered for quicker decision making Development of 10 Satellite Railway terminals in major cities with twin purpose of decongesting the city and providing service to suburban passengers
Infrastructure :-
* Track capacity will be increased by 10% to 1.38 lakh km.
* 10 satellite railway terminals will be developed in major cities in 2015-15.
* Connectivity toNorth-East India will be
improved. In J&K rail connectivity will be on focus.
* Track capacity will be increased by 10% to 1.38 lakh km.
* 10 satellite railway terminals will be developed in major cities in 2015-15.
* Connectivity to
Tourism :-
* Railways will promote Gandhi circuit in order to mark centenary year of Mahatma Gandhi’s return fromSouth
Africa
* Railways will promote Gandhi circuit in order to mark centenary year of Mahatma Gandhi’s return from
Union Budget
2015-16
Union Finance Minister, Arun Jaitley on 28 February 2015 presented Union Budget 2015-16 in the Lok Sabha. It was the first full year Budget of the NDA government under leadership of Prime Minister of Narendra Modi and the second budget of Arun Jaitley as Finance Minister.
2015-16 Budget Estimates (Rs in Crore )
* Revenue Receipts – 1,141.6
* Capital Receipts - 635.9
* Total Receipts – 1,777.5
* Non-Plan Expenditure – 1,312.2
* Plan Expenditure – 465.3
* Total Expenditure – 1,777.5
* Revenue Deficit – 394.5
* Effective Revenue Deficit – 283.9
* Fiscal Deficit – 555.6
* Primary Deficit – 99.5
Union Finance Minister, Arun Jaitley on 28 February 2015 presented Union Budget 2015-16 in the Lok Sabha. It was the first full year Budget of the NDA government under leadership of Prime Minister of Narendra Modi and the second budget of Arun Jaitley as Finance Minister.
2015-16 Budget Estimates (Rs in Crore )
* Revenue Receipts – 1,141.6
* Capital Receipts - 635.9
* Total Receipts – 1,777.5
* Non-Plan Expenditure – 1,312.2
* Plan Expenditure – 465.3
* Total Expenditure – 1,777.5
* Revenue Deficit – 394.5
* Effective Revenue Deficit – 283.9
* Fiscal Deficit – 555.6
* Primary Deficit – 99.5
Highlights of the Union
Budget 2015-16 :-
Taxation:-
* No change in the Tax slab on personal income.
* Wealth tax abolished.
* Additional 2% surcharge for the super-rich with income more than Rs. 1 crore.
* For next 4 years, corporate tax has been reduced to 25 percent from present 30 percent.
* Service tax increased to14 per cent.
* Apart from CSR, 100% tax exemption for contribution to Swachch Bharat Abhiyan.
* No change in the Tax slab on personal income.
* Wealth tax abolished.
* Additional 2% surcharge for the super-rich with income more than Rs. 1 crore.
* For next 4 years, corporate tax has been reduced to 25 percent from present 30 percent.
* Service tax increased to14 per cent.
* Apart from CSR, 100% tax exemption for contribution to Swachch Bharat Abhiyan.
New projects:-
* New projects 5 more AIIMSs in Jammu and Kashmir, Punjab, Tamil Nadu, Himachal Pradesh, Bihar and Assam.
* IIT in Karnataka. While, the Indian School of Mines in Dhanbad, Jharkhand will be converted into IIT.
* 2 more IIMs inJammu and Kashmir
* Post-Graduation institutes of Horticulture inAmritsar ,
Punjab .
*University of Disability Studies
* In Arunachal Pradesh, Centre of film production, animation and gaming will come up.
* For Infrastructure sector Rs. 70,000 crores allocated.
* Projects in rail road and irrigation bonds will be tax free.
* Infrastructure development through PPP model will be revitalised and government will bear majority of the
risk.
* Atal InnovationMission
scientific innovations. For this mission Rs. 150 crore allocated.
* 5 ultra-mega power projects each of 4000MW proposed by Government
* New projects 5 more AIIMSs in Jammu and Kashmir, Punjab, Tamil Nadu, Himachal Pradesh, Bihar and Assam.
* IIT in Karnataka. While, the Indian School of Mines in Dhanbad, Jharkhand will be converted into IIT.
* 2 more IIMs in
* Post-Graduation institutes of Horticulture in
*
* In Arunachal Pradesh, Centre of film production, animation and gaming will come up.
* For Infrastructure sector Rs. 70,000 crores allocated.
* Projects in rail road and irrigation bonds will be tax free.
* Infrastructure development through PPP model will be revitalised and government will bear majority of the
risk.
* Atal Innovation
scientific innovations. For this mission Rs. 150 crore allocated.
* 5 ultra-mega power projects each of 4000MW proposed by Government
Defence:-
* 2,46,726 crore allocated for Defence. It is 9.87 per cent greater than last year.
* Make inIndia
Welfare Schemes and new Programmes :-
* Under the Swachh Bharat Abhiyan, six crore toilets across the country will be built.
* By 2020, housing for all.
* Mahatma Gandhi National Rural Employment Gurantee Act (MGNREGA) will get MGNREGA of Rs. 5,000 crore. It is highest allocation to this scheme.
* To improve quality of life of common man, GST and JAM trinity (Jan Dhan Yojana, Aadhaar andMobile
* Direct Benefit Transfer (DBT) will be further be expanded to 10.3 crore from 1 crore.
* Government will contribute 50% of the premium limited to Rs. 1,000 a year for the Atal Pension Yojana.
* 9,000 crore unclaimed funds in PPF/EPF will be used for Senior Citizens Fund.
* For all Indian, government will create universal social security system.
* For electric cars production Rs. 75 crore allocated.
* Renewable energy target for 2022 – 60K MW in wind; 10K MW in biomass, 100K MW in solar and 5K MW in small hydro plants.
* Under the new tourism scheme, development of churches and convents in old Goa; Hampi, Elephanta caves, , Jallianwala Bagh, Forests of Rajasthan, Leh palace, Varanasi Qutb Shahi tombs at Hyderabad.
* Visa on Arrival (VoA) facility to be increased for 150 countries from present 43 countries.
* As an alternative to purchasing gold, Sovereign Gold Bond will be launched.
* In order to facilitate depositors of gold to earn interest and jewellers to obtain loans on their metal accounts new scheme will be launched.
* Forward Markets Commission (FMC) will be merged with the Securities and Exchange Board of India (SEBI). * Under SARFAESI Act 2002, NBFCs registered with the RBI having asset size of Rs 500 crore and above to be considered as financial institution for mid-corporate businesses and fund SME.
* For Rural Infrastructure Development Bank, Rs. 25,000 crore allocated.
* To support Micro Irrigation Programme, Rs. 5,300 crore allocated.
* 2,46,726 crore allocated for Defence. It is 9.87 per cent greater than last year.
* Make in
Welfare Schemes and new Programmes :-
* Under the Swachh Bharat Abhiyan, six crore toilets across the country will be built.
* By 2020, housing for all.
* Mahatma Gandhi National Rural Employment Gurantee Act (MGNREGA) will get MGNREGA of Rs. 5,000 crore. It is highest allocation to this scheme.
* To improve quality of life of common man, GST and JAM trinity (Jan Dhan Yojana, Aadhaar and
* Direct Benefit Transfer (DBT) will be further be expanded to 10.3 crore from 1 crore.
* Government will contribute 50% of the premium limited to Rs. 1,000 a year for the Atal Pension Yojana.
* 9,000 crore unclaimed funds in PPF/EPF will be used for Senior Citizens Fund.
* For all Indian, government will create universal social security system.
* For electric cars production Rs. 75 crore allocated.
* Renewable energy target for 2022 – 60K MW in wind; 10K MW in biomass, 100K MW in solar and 5K MW in small hydro plants.
* Under the new tourism scheme, development of churches and convents in old Goa; Hampi, Elephanta caves, , Jallianwala Bagh, Forests of Rajasthan, Leh palace, Varanasi Qutb Shahi tombs at Hyderabad.
* Visa on Arrival (VoA) facility to be increased for 150 countries from present 43 countries.
* As an alternative to purchasing gold, Sovereign Gold Bond will be launched.
* In order to facilitate depositors of gold to earn interest and jewellers to obtain loans on their metal accounts new scheme will be launched.
* Forward Markets Commission (FMC) will be merged with the Securities and Exchange Board of India (SEBI). * Under SARFAESI Act 2002, NBFCs registered with the RBI having asset size of Rs 500 crore and above to be considered as financial institution for mid-corporate businesses and fund SME.
* For Rural Infrastructure Development Bank, Rs. 25,000 crore allocated.
* To support Micro Irrigation Programme, Rs. 5,300 crore allocated.
Economic
Survey 2014-15
Union Finance Minister Arun Jaitley presented the Economic Survey for 2014-15 in the Parliament on 27 February 2015.The Economic Survey forms the basis for the Union Budget for the fiscal year starting 1 April. This Economic Survey has been prepared by the Finance Ministry’s Chief Economic Adviser Arvind Subramanian.
Following are the important highlights of Economic Survey:-
Economic Growth :-
* Economic growth at market prices is expected between 8.1 to 8.5% during 2015-16 (based on the new GDP calculation formula)
* Growth rate in 2014-15 is estimated at 7.5%
* The total stock of stalled projects stands at Rs. 8.8 lakh crore or 7% of GDP and are mostly in private sector
Fiscal Deficit and Current Account Deficit :-
* Union Govt. will stick to fiscal deficit target of 4.1% of GDP in 2014-15
* Country needs to meet its medium-term fiscal deficit target of 3% of GDP
* Current Account Deficit (CAD) estimated to fall 1% of GDP in 2015-16
Inflation:-
* Consumer inflation in 2015-16 likely to range between 5 to 5.5%
* Inflation likely to be below RBI’s target by 0.5 to 1% point
* Inflation shows declining trend in 2014-15
* Decline in inflation by over 6% points since late 2013
Foodgrain Production:-
* Foodgrains production for 2014-15 estimated at 257.07 million tonnes
* The production will exceed last 5 years by 8.5 million tonnes
Subsidy :-
* Food subsidy at Rs. 1,07,823.75 crore during 2014-15 (up to January 2015), an increase of 20% over previous year
Union Finance Minister Arun Jaitley presented the Economic Survey for 2014-15 in the Parliament on 27 February 2015.The Economic Survey forms the basis for the Union Budget for the fiscal year starting 1 April. This Economic Survey has been prepared by the Finance Ministry’s Chief Economic Adviser Arvind Subramanian.
Following are the important highlights of Economic Survey:-
Economic Growth :-
* Economic growth at market prices is expected between 8.1 to 8.5% during 2015-16 (based on the new GDP calculation formula)
* Growth rate in 2014-15 is estimated at 7.5%
* The total stock of stalled projects stands at Rs. 8.8 lakh crore or 7% of GDP and are mostly in private sector
Fiscal Deficit and Current Account Deficit :-
* Union Govt. will stick to fiscal deficit target of 4.1% of GDP in 2014-15
* Country needs to meet its medium-term fiscal deficit target of 3% of GDP
* Current Account Deficit (CAD) estimated to fall 1% of GDP in 2015-16
Inflation:-
* Consumer inflation in 2015-16 likely to range between 5 to 5.5%
* Inflation likely to be below RBI’s target by 0.5 to 1% point
* Inflation shows declining trend in 2014-15
* Decline in inflation by over 6% points since late 2013
Foodgrain Production:-
* Foodgrains production for 2014-15 estimated at 257.07 million tonnes
* The production will exceed last 5 years by 8.5 million tonnes
Subsidy :-
* Food subsidy at Rs. 1,07,823.75 crore during 2014-15 (up to January 2015), an increase of 20% over previous year
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