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Monday, February 29, 2016

Daily Current Affairs 29th Feb. 2016

DAILY CURRENT AFFAIRS: 29 FEB 2016
(Daily News India)
Shared By: WWW.DailyGk.IN

1. VINOD RAI APPOINTED AS FIRST CHAIRMAN OF BANKS BOARD BUREAU
i. Former Comptroller and Auditor General Vinod Rai has been appointed as the  Chairman of Banks Board Bureau .
ii. It will include Vinod Rai as Chairman, N. Sinor as Member, Anil K Khandelwal as Member, Rupa Kudwa as Members
iii. Banks Board Bureau  will be a super authority of eminent professionals and officials for public sector banks .
iv. It is the part of seven point Indradhanush Mission to revamp the PSBs

2. 28 FEBRUARY OBSERVED AS NATIONAL SCIENCE DAY
i.  28th feburary  is celebrated as the National Science.
ii. The theme for year 2016 is “Scientific Issues for Development of the Nation” that aims at raising public appreciation
iii. This day marks the ng discovery of Raman Effect by Indian physicist Chandrasekhara Venkata Raman in February 28, 1928.
iv. The invention was Some part of light beam after passing through a transparent medium gets scattered after this discovery he was honoured  with the Nobel Prize in Physics in 1930.

3. UNION BUDGET 2016-17: HIGHLIGHTS
i. Union Finance Minister Arun Jaitley on 29 February 2016 presented Union Budget 2016-17 in the Lok Sabha.
ii. He  announced nine pillars of the budget and they are Agriculture and farmers' welfare, rural sector, social sector including healthcare, education, skills and job creation, infrastructure, financial sector reforms, ease of doing business, fiscal discipline, tax reforms to reduce compliance burden.
Highlights of the Union Budget 2015-16
Ø Agricultural policy will be reorganised to double farmer income in five years
Ø new scheme to be launched for gas connections in  BPL families
Ø 28.5 lakh hectares will be covered  under irrigation under the Pradhan Mantri Krishi Sichai Yojana
Ø long term irrigation fund will be created in NABARD with a corpus of 20000 crore rupees
Ø Agricultural credit target of 9 lakh crore rupees
Ø Paramparagat Krishi Vikas Yojana to bring 5 lakh acres under organic farming
Ø 38500 crore rupees allocated to MNREGA
Ø Allocation to PM Fasal Bima Yojana for 2016/17 is 5500 crores rupees
Ø 87765 crores rupees for rural development as a whole have been allocated in the budget
Ø 100 % village electrification to be achieved by 1 May 2018
Ø Allocation of Pradhanmatri Gram Sadak Yojna to be increased to 19000 Crore rupees
Ø As per recommendation of 14th finance commission, 2.87 lakh crore rupees will be given as grants-in-aid to village panchyats and municipalities to boost rural economy.
Ø Government to spend 850 crore rupees in a few years on animal husbandry, cattle and livestock breeding
Ø Four schemes for animal welfare announced
Ø 5500 crore rupees allocated for crop insurance scheme
Ø Health insurance of up to 1 lakh rupees per family, top up of Rs 35,000 for people above 60 years
Ø Two schemes for digital literacy for rural India to cover 6 crore households in the next three years
Ø 9000 crore rupees allocated for Swachch Bharat Abhiyan
Ø 500 crore rupees allocated for Stand Up India scheme
Ø 8.33% will be paid towards employee pension fund
Ø 100% FDI through FAPB route in marketing of food products produced and manufactured in India
Ø Direct Benefit Transfer for fertilisers
Ø 25000 crore rupees sanctioned for recapitalisation of public sector banks
Ø General insurance companies owned by the government to be listed in stock exchanges
Ø Amendment to the Companies Act to ensure speedy registration and boost start-ups
Ø Relief will amount to 3000 rupees per annum; 1 crore tax payers to benefit
Ø Ceiling of tax rebate for tax payers with up to Rs 5 lakh annual come to be raised to 5000 rupees from 2000 currently
Ø SEBI Act to be amended to provide for more benches for Securities Appellate Tribunal
Ø 100 percent FDI will be allowed through FIPB in marketing of food products produced and manufactured in India
Ø The Banking Boards Bureau will be operationalised fiscal year 2016-17
Ø Presumptive income tax scheme to be extended to all professionals with income of 50 lakh rupees with a presumption of 50 percent profit
Ø In 2016-17, credit target of 180000 crore rupees set up through Mudra bank
Ø 100 crore rupees sanctioned for Deendayal Upadhyay's birthday celebrations and Guru Gobind Singh 300th birth anniversary
Ø Fiscal deficit at 3.5% of GDP in 2016-17
Ø Service Tax to be exempted on general insurance schemes under NIRMAYA Scheme
Ø Target delivery of financial, other intermediary services to be introduced using Aadhar
Ø 1% service charge on purchase of luxury cars over 10 lakh rupees and in-cash purchase of goods and services over 2 lakh rupees.
Ø Additional exemption of 50000 rupees for housing loans up to 35 lakh rupees, provided cost of house is not above 50 lakh rupees.

4. ROZLE PREZELJ ELECTED CHAIRMAN OF IAAF ATHLETES’ COMMISSION
i. High jumper Rozle Prezelj was elected as the Chairman of the International Association of Athletics Federations Athletes' Commission in Monaco.
ii. He has replaced Chairman of the commission from Frank Fredericks.
iii. International Association of Athletics Federations is the international governing body for the sport of athletics.

5. RESUL POOKUTTY BECAME FIRST ASIAN TO WIN GOLDEN REEL AWARD
i. Famous sound designer Resul Pookutty became the first Asian to win the award for Best Sound for documentary India’s Daughter at the Motion Picture Sound Editors’ 63rd annual Golden Reel Awards.
ii. Motion Picture Sound Editors was founded in 1953 as a honorary society of motion picture sound editors.

iii. Its main aim is to educate others about and increase the recognition of the sound editors, show the artistic merit of the soundtracks, and improve the professional relationship of its members.

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