DAILY GK 7 JULY 2019

DAILY GK 7 JULY

1. HIGHLIGHTS OF UNION BUDGET 2019-20

✔Union Minister for Finance and Corporate Affairs Nirmala Sitharaman made her maiden Budget Speech and presented the Union Budget 2019-20 in the Lok Sabha.

✔She broke away from the tradition when she replaced the conventional leather briefcase with a bright red cloth bag to carry the Budget papers to the Parliament House.

✔ “Gaon, Garib and Kisan” (Village, Poor and Farmer) was the centre of all policies of the Modi 2.0 Government.

✔10-point Vision for the decade

• Building Team India with Jan Bhagidari: Minimum Government Maximum Governance.

• Achieving green Mother Earth and Blue Skies through a pollution-free India.

• Making Digital India reach every sector of the economy.

• Launching Gaganyan, Chandrayan, other Space and Satellite programmes.

• Building physical and social infrastructure.

• Water, water management, clean rivers.

• Blue Economy.

• Self-sufficiency and export of food-grains, pulses, oilseeds, fruits and vegetables.

• Achieving a healthy society via Ayushman Bharat, well-nourished women & children, safety of citizens.

• Emphasis on MSMEs, Start-ups, defence manufacturing, automobiles, electronics, fabs and batteries, and medical devices under Make in India.

2. INDIA TO GET THE FIRST E-VEHICLE CHARGING HIGHWAY BY MARCH 2020

✔The highways of Delhi-Jaipur and Delhi-Agra are India’s first highway corridors will get charging stations for electric vehicles by March 2020.

✔The total distance of the corridors on Yamuna Expressway (between Delhi and Agra) and National Highway 48 (between Delhi and Jaipur) will be 500 km and 18 charging stations will be set up near toll plazas on both these highways routes to charge &change batteries.

✔The e-corridor was first proposed under the Ease of Doing Business Programme  of the Advance Services for Social and Administrative Reforms, a private firm backed by the central government.

✔About two crore rupees would be spent in the development of a single charging station and the electricity tariff.

✔The government expects 25 % of the total vehicles on roads will be e-vehicles by 2030.

3. THE INDIAN ARMY RELEASES SPECIAL TRIBUTE VIDEO TO COMMEMORATE 20 YEARS OF ‘OPERATION VIJAY’

✔To commemorate the 20th anniversary of Kargil Vijay Diwas, the Indian army has released a special Kargil Tribute Song’ to honor, salute and pay homage to the Kargil martyrs and the war veterans who sacrificed and fought for the country.

✔The song titled ‘Tujhe Bhulega Na Tera Hindustan’ has been written by renowned Bollywood lyricist Sameer featuring Bollywood megastar Amitabh Bachchan, Olympic bronze medallist boxer Mary Kom, actors Salman Khan, Vicky Kaushal, Anupam Kher, Kangana Ranaut, and Suniel Shetty.

4. RBI GETS THE POWER TO REGULATE HOUSING FINANCE COMPANIES INSTEAD OF NHB

✔Finance Minister Nirmala Sitharaman stated that India’s central bank, Reserve Bank of India will now given power to takes over as the regulator of Housing Finance Firms instead of NHB.

✔The government will also provide a one-time six-month partial guarantee to state-run banks for the acquisition of up to 1 trillion rupees ($14.6 billion) of highly-rated assets from NBFCs.

✔NBFCs stocks surged after the credit guarantee announcement. Mahindra & Mahindra Financial Services Ltd and L&T Finance Holdings Ltd rose more than 5%, while Shriram Transport Finance Co. rose more than 3%.

✔The RBI has also proposed plans to tighten NBFCs’ asset-liability management and liquidity coverage ratios and resisted demands from within the industry to provide a separate liquidity window for NBFCs.