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Wednesday, February 7, 2018

DAILY CURRENT AFFAIRS: 1 FEB 2018

DAILY CURRENT AFFAIRS: 1 FEB 2018
(DAILY NEWS INDIA)
SHARED BY: WWW.DAILYGK.IN

1.      UNION BUDGET 2018-19: COMPLETE ANALYSIS
i. As per the FM in the Union Budget, India is expected to become the 5th largest economy very soon.  The Growth rate is expected between 7.2-7.5% in the second half of 2017-18. Exports are expected to grow 15% in 2018.
ii. As per the FM, India is a Rs 2.5 trillion economy. MSP to increase at least 1.5 times that of production cost. Minimum Support Price of all crops shall increase to at least 1.5 times that of the production cost.
iii. The government will set up a fund of Rs 2,000 cr for developing agricultural markets. Our focus is on productive and gainful on-farm and non-farm employment for farmers and landless families, says Jaitley.
iv. MSP for Kharif cost will be 1.5 times the cost of production. As per the FM, APMCs will be linked with ENAM. The government will develop 22,000 Gramin agricultural markets.
v. The cluster-model approach will be adopted for agricultural production. Allocation in food production sector doubled to Rs 1400 cr. Minimum Support Price shall be increased by 1.5 times. Operation Green will be launched for agriculture and the Minister allocates Rs 500 cr for this.
vi. Agricultural corpus worth Rs 2000 cr will be set up. 470 APMCs have been connected to eNAM network, the rest to be connected by March 2018. A fund for the fishery, aquaculture development and animal husbandry will be set up with a total corpus to be Rs 10,000 cr. We will also allocate Rs 1290 cr for a bamboo mission, as it is green gold. In all, we are providing Rs 10 lakh cr to Rs 11 lakh cr as credit for agricultural activities.
vii. Jaitley proposes to increase the target of providing free LPG connections to 8 cr to poor women. Ujjwala Yojana, the free LPG connection scheme expanded to eight cr households. Six cr toilets have been built already, and in the next year, two cr additional toilets will be constructed.
viii. The government will provide 4 cr electricity connections to the poor under Saubhagya Yojana. Kisan credit card to be extended to fisheries, animal husbandry farmers. The government will establish a dedicated affordable housing fund. Loans to self-help groups will increase to Rs 75,000 cr.
ix. Govt. allocated Rs 5,750 cr to National Livelihood Mission and Rs 2,600 cr to the groundwater irrigation scheme. Ayushman Bharat program discussed. Eklavya schools for tribal children. 24 new government medical colleges.
x. Government is implementing a comprehensive social security scheme. Govt. will initiate an integrated B-Ed programme for teachers. Government proposes to launch the Revitalising of Infrastructure and Systems of Education by next year.
xi. Govt. proposed to set up two new full-fledged schools of planning and architecture. 18 new schools of planning and architecture will be set up in the IITs and NITs. Rs.1 lakh cr over 4 years for initiative for Infrastructure Devt. in education.
xii. National health protection scheme to cover 10 cr poor families. Health cover of up to 5 lakh per family per year for poor & vulnerable. National health protection scheme to benefit 50 cr people. Rs. 600 cr for nutritional support to all TB patients. This will build a new India in 2022 and enhance productivity and will also generate lakhs of jobs for women.
xiii. Rs. 1200 cr for health and wellness centres. Govt. is launching a new national health protection scheme – Rashtriya Samaj Beema Yojana. This will have 50 crore beneficiaries and 10 crore families will get 5 lakh per year for their families to cover secondary and tertiary hospital expenses. This is the world's largest government-funded healthcare program.
xiv. PM Jeevan Beema Yojana benefitted more than 2 crore families. Jan Dhan Yojana will be extended to all 60 cr bank accounts. The government increased allocation for SC-ST earmarked programmes: Rs 56,000 cr for SCs and Rs 39,000 cr for STs.
xv. The government will announce measures to address non-performing assets of MSMEs. As per the FM, Rs. 3 lakh cr for lending under is being allocated in FY 19 for PM's MUDRA Yojana.
xvi. Govt to contribute 12% of wages of new employees to EPF for 3 yrs. Rs. 7148 cr allocation for the textile sector. Govt. will launch a scheme for Galvanising Organic Bio-Agro Resources Dhan. Under the Smart City mission, 99 cities selected with the outlay of Rs. 2.04 lakh crores.
xvii. EPF contribution has been reduced to 8% for the first 3 years of employment and 12% government contribution to EPF in sectors employing a large number of people, however, there will be no changes in employer contribution. 10 tourist cities to be developed into iconic tourist destinations. 600 railway stations to be redeveloped. Over 3600 km railway track renovation targeted in the current year.
xviii. Scheme for revitalizing school infrastructure, with an allocation of 1 lakh crore rupees over four years. Called RISE - Revitalizing Infrastructure in School Education. The Bharatmala project has been approved and we are confident of completing 9000 km of highway construction. In Railways, 18,000 kms of doubling of tracks would eliminate capacity constraints.
xix. We are moving towards optimum electrification of railway. Over 3,600 km of track renewal is being targeted in 2018-19. 150 km additional suburban railway network at the cost of Rs. 40,000 cr. Regional air connectivity scheme shall connect 56 unserved airports. Airport capacity to be hiked to handle 1 billion trips per year. Training for 50 lakh youth by 2020. Customs duty increased on mobile phones from 15% to 20%.


2.      FY16 GDP GROWTH REVISED UP TO 8.2%, FY17 UNCHANGED AT 7.1%- CSO
i. The Central Statistics Office revised the gross domestic product growth rate for 2015-16 to 8.2% from the earlier estimates of 8% and kept the 2016-17 growth unchanged at 7.1%. The real GDP or GDP at constant (2011-12) prices for the years 2016-17 and 2015-16 stand at Rs121.96 trillion and Rs113.86 trillion respectively, according to the CSO statement.
ii. In terms of real gross value added, it stated that the GVA at constant (2011-12) basic prices grew 7.1% in 2016- 17, as against a growth of 8.1% in 2015-16.

3.      INDIA SLIPS TO 42ND PLACE ON EIU DEMOCRACY INDEX, NORWAY TOPS
i. India has slipped to 42nd place on an annual Global Democracy Index according to the data compiled by the Economist Intelligence Unit. India has moved down from 32nd place last year.
ii. The top 5 Countries are- Norway, Iceland, Sweden, New Zealand and Denmark.
iii. The index ranks 165 independent states. The list has been divided into four broad categories- full democracy, flawed democracy, hybrid regime and authoritarian regime. North Korea is ranked the lowest at 167th, while Syria is a notch better at 166th place.

4.      LT. GEN ANIL CHAUHAN TAKES CHARGE AS DGMO OF INDIAN ARMY
i. Lt. Gen Anil Chauhan took charge as the new Director General of Military Operations of the Indian Army. He succeeds Lt General A K Bhatt.
ii. Lt Gen Chauhan has held several important posts in the Army and is known for his expertise in counter-insurgency operations in Jammu and Kashmir and the Northeast.

5.      WORLD BANK COMMITS $100 MILLION TO BOOST TAMIL NADU'S RURAL ECONOMY
i. The government and World Bank signed a $100 million (about Rs 6,400 cr) loan agreement to promote rural economy in selected blocks of Tamil Nadu across 26 districts, benefiting over 4 lakh people.
ii. The funding aimed at promoting rural enterprises, facilitate their access to finance and create employment opportunities for youth particularly women.

6.      WORLD’S OLDEST MAN PASSES AWAY AT 113
i. The world's oldest man Francisco Nunez Olivera has died just over a month after celebrating his 113th birthday.
ii. He passed away in Spain where he had lived throughout his life. He was born on December 13, 1904.

OBJECTIVE QUESTIONS BASED ON TODAY’S NEWS

Q1. THE UNION GOVERNMENT IN ITS BUDGET 2018 HAS PROPOSED TO LAUNCH A RESTRUCTURED MISSION WITH AN OUTLAY OF RS 1290 CR TO PROMOTE WHICH SECTOR?
a)  Bamboo
b)  Handloom
c)  Rural Development
d)  Traditional Craft
Q2. HOW MUCH FUND HAS THE UNION GOVERNMENT ALLOCATED FOR ITS NEW ‘OPERATION GREEN’ MISSION?
a)  600 cr
b)  500 cr
c)  700 cr
d)  1000 cr
Q3. WHAT IS THE INDIA’S RANK IN THE 2017 EIU GLOBAL DEMOCRACY INDEX?
a)  42nd
b)  21st
c)  64th
d)  53rd
Q4. THE UNION GOVERNMENT HAS PROPOSED TO EXTEND THE REACH OF UJJWALA YOJANA TO HOW MANY POOR WOMEN IN 2018-19?
a)  10 crore
b)  4 crore
c)  6 crore
d)  8 crore
Q5. WHAT WAS THE TOTAL FISCAL EXPENDITURE OF THE UNION GOVERNMENT IN 2017-18 AS PER UNION BUDGET 2018?
a)  Rs 21.77 lakh cr
b)  Rs 21.67 lakh cr
c)  Rs 21.57 lakh cr
d)  Rs 21.47 lakh cr

ANSWERS: 
1 - A    2 - B    3 - A    4 - D    5 - C


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