ECONOMIC SURVEY OF THIS YEAR UNDER UNION BUDGET 2015

                                                “ECONOMIC SURVEY”

ECONOMIC SURVEY IS PRESENTED IN THE PARLIAMENT BY THE FINANCE MINISTER EVERY YEAR, JUST A DAY BEFORE THE UNION BUDGET.

Economic survey reviews the development in the Indian economy over the previous 12 months. The draft of the survey is prepared by the department of economic affairs and cleared by chief economic advisor and the secretary economic affairs. Economic survey also gives an indefinite image of the budget to be presented in the parliament.

Chief economic adviser, Arvind Subramanianprepared the economic survey for the year 2015 and presented it in LokSabha.

MAIN HIGHLIGHTS OF THE ECONOMIC SURVEY 2015WHICH TARGETED GROWTH AT MORE THAN 8 %GROWTH FOR NEXT YEAR ARE:-

A.     It states that double digiteconomic growth is now a possibility.

B.     Average WPI inflation declines to 3.4% in 2014-15 in comparison to 6% previous year.

C.      Economic survey states that in order to ensure food security, we need to improve productivity in the agricultural sector.

D.     Current Account Deficit may fall to 1% of GDP in the coming year from the previous 6.7%.

E.      Government will adhere to fiscal deficit target of 4.1% of GDP in 2014-15.

F.      Shift expenditure from consumption, by reducing subsidies, to investment.

NOTE:Chief Economic Adviser, ARVIND SUBRAMANIAN stated that INDIA is still a recovering economy not a surging economy.

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RAILWAYS BUDGET 2015 (ALL IMPORTANT FACTS WHICH YOU SHOULD KNOW)

GURU GYAN

RAILWAY BUDGET-2015

ALL ABOUT RAILWAY BUDGET:

Ø RAILWAY BUDGET is the annual Financial Statement of INDIAN RAILWAY, presented every year by the Union Railway Minister in the Lower House i.e. LOK SABHA just a couple of Days before the Union budget of India.

HISTORY:

Ø Railway Finances were separated from general Government finances on the recommendation of “Acworth Committee”, headed by William Acworth in 1920-21. Railway finances were first separated in 1924.

IMPORTANT FACTS:

Ø First live telecast of Railway Budget took place on 24^th March 1994 by  Lalu Prasad Yadav.

Ø Mamta Banerjee was the first woman Railway Minister of India.

Ø First bullet train was announced in 2014 by D.V. Sadananda Gowda.

Notes: - Railway budget is presented separately because Indian Railway is among the World’s largest employers with 1.3 million employees. India has the fourth-longest route Network after the U.S.A., Russia and China.

Ø Railway Minister Suresh Prabhu, with the Minister of state for Railway Manoj Sinha Presented his maiden Railway Budget in the Lok Sabha.

HIGHLIGHT OF THE RAILWAY BUDGET 2015:-

Ø Setting up of ‘KAYAKALP’ to help in Technology upgradation.

Ø Planned budget for 2015-16 is 1, 00,011 crores.

Ø Train protection warning system and anti colliding system to be developed by RDSO.

Ø Automatic freight scheme to be launched in pan India.

Ø Increment in speed of 9 trains from 110 km/hr. to 160 km/hr and 130 km/hr to 200 km/hr.

Ø Investment plan for next 5 years by the government is of 8.5 Lakh crore rupees.

Ø No increment in rail fare.

Ø Increase track length by 20% and passenger carrying Capacity from 21 to 30 Million.

Ø Private agencies to be roped in for cleanliness drive.

Ø Free Wi-Fi facility to ‘B’ class stations under the Scheme of Digital India.

Ø Facilities of self operated lockers at stations & mobile phone charging facilities in general class.

Ø Surveillance cameras in selected watches and ladies compartments for women’s safety without compromising on privacy.

Ø Unreserved ticket purchase made simple through smart phones; Debit cards.

Ø Bio toilets in trains.

Ø Mumbai-Ahmadabad bullet train project is in last stage.

Ø No new train is introduced in the railway budget-2015. Main idea was to focus on executing past measures.

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DAILY FREE CURRENT AFFAIRS 27 FEBRUARY 2015

DAILY FREE CURRENT AFFAIRS 27 FEBRUARY 2015

Shared By: WWW.DailyGk.IN

1.      FORBES RELEASED 50-POWER BUSINESS WOMEN LIST:-

Ø  Forbes magazine has listed 50 power Business Women from ASIA in its recent issue.

Ø  6 Indian womens have been included in the 50 power Business women from Asia are:-

(1)  Arundhati Bhattacharya -------- SBI chairperson

(2)  Chanda Kochar -------- ICICI Managing Director

(3)  Akhila Srinivasan -------  Shriram Life Insurance MD

(4)  Kiran Mazumdar Shaw ------- Biocon Founder

(5)  Shikha Sharma ------ Axis Bank CEO

(6)  Usha Sangwan ------- LIC Managing Director.

About Forbes Magzine:- Forbes is an American Business Magazine published weekly. It was founded in 1917 by B.C. Forbes. Michael Perlis is the current CEO of Forbes.

EXPECTED QUESTION FROM THIS CURRENT AFFAIRS NEWS

Q-1) Who among the following women is not in Forbes 50 Power Business Woman from Asia ?

a.       Arundhati Bhatttacharya

b.      Chanda Kocha

c.       Sonia Gandhi

d.      Shikha Sharma.

2 .INDIA’S GDP FORECAST REVISED TO 7.9%:-

Ø S & P has revised India’s GDP forecast to 7.9% in FY 16.

Ø S & P has also raised it forecast for 2016-17 to 8.2% from the previous 6.6%.

Ø 7.9% forecast by S&P, Rising Investment and low oil prices are the primary factors to boost the changes in the economy of the nation.

Note :- S &P or Standard and Poor’s is a Financial Services Company with its headquarter at New York, U.S.A. It is an American stock market Index based on the market Capitalisations of 500 Large Companies having common stock listed on the NYSE.

EXPECTED QUESTION FROM THIS CURRENT AFFAIRS NEWS

Q-1) S & P has forecasted India’s GDP for FY16  ?

a.    6.6%

b.   7.9 %

c.    8.2 %

d.   6.2 %

3.   RATAN TATA HONOURED :

Ø RATAN TATA  has been honoured with an Honorary Doctorate of Automotive Engineering.

Ø  RATAN TATA was honoured by Clemson Universityat the South Carolina Automotive Summit.

Ø This was the 4^th  annual S.C. Automotive Summit.

About Ratan Tata :- Ratan Tata is an Indian Businessman and Chairman Emeritus of Tata sons. He was also the Chairman of Tata Group from 1991-2012. Ratan Tata has also been honoured with Padam Bhushan in 2000 and Padma Vibhushan in the year 2008.

EXPECTED QUESTION FROM THIS CURRENT AFFAIRS NEWS

Q-1) Which Indian is Honoured with an Harmony Doctorate of Automotive Engineering at 4^th annual S.C.  Automotive Summit ?

a.    Ratan Tata

b.   Mukesh Ambani

c.    Anil Dhirubhai Ambani

d.   Gautam Adani

4.     RAILWAY BUDGET 2015 :

Union  Railway Minister Suresh Prabhu, with the minister of state for Railways Manoj Sinha presented his maiden Railway Budget in the Lok Sabha yesterday.

Ø No new Train was introduced and the focus was to deliver a sustained and measurable improvementin customer experience.

Ø The government will Invest approximatelyRs. 8.5 lakh crores over next 5 years on Railway.

Note :- For Detailed Description on RAILWAY BUDGET, Click on to GURU GYAN :

EXPECTED QUESTION FROM THIS CURRENT AFFAIRS NEWS

Q-1)Who is the Union Railway Minister of India ?

a.    Narendra Modi

b.   Suresh Prabhu

c.    Smriti Irani

d.   Mallikanjan Khafre.

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DAILY FREE CURRENT AFFAIRS 26 FEBRUARY 2015

DAILY CURRENT AFFAIRS 26 FEBRUARY 2015

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1.      LIFE IMPRISONMENT FOR  ABU SALEM:

Ø  Abu salem gets Life Imprisonment.

Ø  Abu Salem was found guilty for the murder of Mumbai based Builder Pradeep Jain.

Ø  Abu Salem along with two others was found guilty in a 20 year old case.

2.      TRAI AMENDS REGULATIONS:

Ø  TRAI amends regulations for PAN INDIA MOBILE NUMBER  PORTABILITY(MNP)

Ø  TRAI has issued the sixth amendment to the telecommunication Mobile Number Portability Regulation, 2009.

Ø  TRAI ---- Telecom Regulatory authority of India.

Ø  Rahul Khullar is the Chairman of TRAI.

EXPECTED QUESTION FROM THIS CURRENT AFFAIRS NEWS

1)    Where is the Headquarter of TRAI?

A)    New delhi

B)    Mumbai

C)     Bangalore

D)    Kolkata

3.      RBI ISSUES GUIDELINES FOR PMJDY:

Ø  RBI issues guidelines to PSB’s regarding PMJDY.

Ø  RBI kept Overdraft facility under PMJDY under Priority Sector Lending.

Ø  Overdraft facility available to PMJDY is Rs.5000 But for only those account holders which have opened their account under PMJDY and kept it active for atleast 6 months.

Ø  PMJDY--- PradhanMantri Jan DhanYojna.

Ø  Current Priority Sector Lending rate for PSB is 40%

EXPECTED QUESTION FROM THIS CURRENT AFFAIRS NEWS

1) What is rate of priority sector lending for psb?

A)    37%

B)    40%

C)     42%

D)    50%

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