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9th August 2016 Current Affairs Questions and Answers

9th August 2016 Current Affairs MCQs, Quiz, Questions : Current Affairs for August 2016 ,  Daily Multiple Choice Questions (MCQs) for In...

Union Budget for 2019-20 Highlights

Union Budget for 2019-20 Highlights: Centre today announced direct income support for small and marginal farmers. Presenting the Interim budget 2019-2020 in the Lok Sabha, Finance Minister Piyush Goyal proposed income support of  6,000 rupees per year to families holding upto two hectares of land. The key highlights of the Interim Budget 2019-20 presented by the Union Minister for Finance, Corporate Affairs, Railways & Coal, Shri Piyush Goyal in Parliament today are as follows:
. 12 crore small and marginal farmers to be provided with assured yearly income of Rs. 6000 per annum under PM-KISAN
. Outlay of Rs. 75,000 crore for FY 2019-20 with additional Rs. 20,000 crore in RE 2018-19
. Outlay for Rashtriya Gokul mission increased to Rs 750 crore
. Rashtriya Kamdhenu Ayog  to be setup for sustainable genetic up-gradation of the Cow resources
. New separate Department of Fisheries for welfare of 1.5 crore fishermen
. 2% interest subvention to Farmers for Animal husbandry and Fisheries activities; additional 3% in case of timely repayment.
. Interest subvention of 2% during disaster will now be provided for the entire period of reschedulement of loan
. Pradhan Mantri Shram Yogi Maandhan scheme to ensure fixed monthly pension to 10 crore unorganized sector workers
. 22nd AIIMS to be setup in Haryana
. Rs. 60, 000 crore allocation for MGNREGA in BE 2019-20
Direct Tax proposals
. Income upto Rs. 5 lakh exempted from Income Tax
. More than Rs. 23,000 crore tax relief to 3 crore middle class taxpayers
. Standard Deduction to be raised to Rs. 50,000 from Rs. 40,000
. TDS threshold to be raised from Rs. 10,000 to Rs. 40,000 on interest earned on bank/post office deposits
. Existing rates of income tax to continue
. Tax exempted on notional rent on a second self-occupied house
. Housing and real estate sector to get boost-
Fiscal Programme
. Fiscal deficit pegged at 3.4% of GDP for 2019-20
. Target of 3% of fiscal deficit to be achieved by 2020-21.
. Fiscal deficit brought down to 3.4% in 2018-19 RE from almost 6% seven years ago
. Total expenditure increased by over 13% to Rs.27,84,200 crore in 2019-20 BE
. Capital Expenditure for 2019-20 BE estimated at Rs. 3,36,292 crore
. Centrally Sponsored Schemes (CSS) allocation increased to Rs. 3,27,679 crore in BE 2019-20
. National Education Mission allocation increased by about 20% to Rs. 38,572 crore in BE 2019-20
. Allocation for Integrated Child Development Scheme (ICDS) increased by over 18% to Rs. 27,584 crore in BE 2019-20
. Substantial increase in allocation for the Scheduled Castes and Scheduled Tribes -
Poor and Backward Classes
. “First right on the resources of country is that of the poor”: FM
. 25% additional seats in educational institutions to meet the 10% reservation for the poor
. Targeted expenditure to bridge urban-rural divide & to improve quality of life in villages
. All willing households to be provided electricity connections by March 2019
North East
. Allocation to be increased by 21% to Rs. 58,166 crore in 2019-20 BE over 2018-19 BE
. Arunachal Pradesh came on the air map recently
. Meghalaya, Tripura and Mizoram came on India’s rail map for the first time
. Container cargo movement through improved navigation capacity of the Brahmaputra
Vulnerable sections
. A new committee under NITI Ayog to identify all the remaining De-notified nomadic and semi-Nomadic tribes.
. New Welfare development Board under Ministry of social justice and empowerment for development and welfare of De-notified nomadic and semi nomadic tribes
. Defence budget to cross Rs 3,00,000 crore for the first time ever
. Capital support of Rs.64,587 crore proposed in 2019-20 (BE) from the budget
. Overall capital expenditure programme to be of Rs. 1,58,658 crore
. Operating Ratio expected to improve from 98.4% in 2017-18
Entertainment Industry
. Indian filmmakers  to get access to Single window clearance as well for ease of shooting films
. Regulatory provisions to rely more on self-declaration
. To introduce anti-camcording provisions in the Cinematograph Act to control piracy
MSME and Traders
. 2% interest subvention on an incremental loan of  Rs 1 crore for GST registered SMEs
. Atleast 3% of the 25% sourcing for the Government undertakings will be from women owned SMEs
. Renewed Focus on Internal trade ; DIPP renamed to Department for Promotion of Industries and Internal trade
Digital Villages
. The Government to make 1 lakh villages into Digital Villages over next five years
State of the Economy
. India universally recognized as a bright spot of the global economy during last five years
. “Country witnessed its best phase of macro-economic stability during 2014-19”, says FM
. India is now the 6th largest economy in the world from being the 11thlargest in 2013-14
. Annual average GDP growth during 2014-19 higher than any government since 1991
. Government has broken inflation’s back from backbreaking inflation during 2009-14: FM
. Average inflation down to 4.6%, lower than during any other Government
. Inflation in December 2018 down to 2.19% only
. Fiscal deficit down to 3.4% in 2018-19 RE from the high of almost 6% seven years ago
. CAD likely to be only 2.5% of GDP this year against a high of 5.6% six years ago
. India attracted massive amount of FDI, worth $239 billion, during the last 5 years
.  “India is solidly back on track and marching towards growth and prosperity”, says FM
. India becomes the fastest growing major economy in the world
. Double-digit inflation contained and fiscal balance restored
. Liberalization of FDI policy, allowing most FDI to come through the automatic route
. Assured MSP of minimum 50% to all 22 crops
. Interest subvention doubled in last 5 years
. Soil Health card, Neem coated Urea game changer in farm sector
Poor and Backward Classes
. 10% reservation for the poor  in educational institutions and government jobs
. Free electricity connection to every household under Saubhagya Yojana
. World’s largest healthcare programme, Ayushman Bharat, for nearly 50 crore people
. Aspirational Districts Programme for development in 115 most backward districts
. Rs. 1,70,000 crore spent during 2018-19 for cheaper food grains to poor and middle class
. 143 crore LED bulbs provided in mission mode with the cooperation of private sector
. Poor & middle class are saving Rs. 50, 000 crore p.a. in electricity bills due to LED bulbs
. 10 lakh patients benefited from free treatment under Ayushman Bharat
. Jan Aushadhi Kendras providing medicines at affordable prices to poor and middle class
. 14 out of 21 AIIIMS operating presently have been announced since 2014
. Government tripled rural roads’ construction under the PMGSY
. 15.80 lakh habitations out of 17.84 lakh connected with pucca roads
. Rs. 19,000 crore for PMGSY in BE 2019-20 against Rs. 15,500 crore in RE 2018-19
. 1.53 crore houses built under PM Awas Yojana during the 2014-18
Women development to women led development
. 6 crore free LPG gas connections provided under Ujjwala Yojna ; All 8 crore by next year
. 70% of MUDRA Loan availed by Women
. Maternity leave extended to 26 weeks
. Financial support for pregnant women under Pradhan Mantri Matru Vandana
Income Tax
. Tax collections nearly doubled in five years- from Rs. 6.38 Lakh crore in 2013-14 to almost Rs. 12 lakh crore this year
. 80% growth in tax base- from 3.79 crore to 6.85 crore in five years
. Tax administration streamlined- Last year, 99.54% of the income-tax returns accepted as were filed
. Technology intensive project approved to improve assessee friendliness –In two years, returns to be processed in 24 hours and refunds issued simultaneously
. GST made India a common market
. GST led to increased tax base, higher collections and ease of trade
. Inter-state movements now faster, more efficient, and hassle free
. Responsive and sensitive reduction of tax rates - Most items of daily use now in the 0% or 5% tax slab
Digital India Revolution
. More than 3 lakh Common Service Centres (CSCs) exist to deliver services to the citizens
. India now leading the world in the consumption of mobile data
. Monthly consumption of mobile data increased by over 50 times in the last five years
. Under Make in India, mobile and parts manufacturing companies increased from 2 to more than 268 providing huge job opportunities
. Government launched Swachh Bharat Mission as a tribute to 150 years of Gandhi Ji
. FM thanks 130 crore Indians for translating Swachh Bharat into a national revolution
. India has achieved 98% rural sanitation coverage
Ten dimensions of Vision for India of 2030
1. To build physical as well as social infrastructure and to provide ease of living
2. To create a Digital India, digitize government processes with leaders from youth
3. Making India pollution free by leading transport revolution with Electric Vehicles and focus on Renewables
4. Expanding rural industrialisation using modern digital technologies to generate massive employment
5. Clean Rivers, safe drinking water to all Indians and efficient use of water through micro-irrigation
6. Besides scaling up of Sagarmala, Coastline and Ocean waters powering India’s development and growth
7. Aim at our space programme – Gaganyaan, India becoming the launch-pad of satellites for the World and placing an Indian astronaut into space by 2022
8. Making India self-sufficient in food, exporting to the world to meet their food needs and producing food in the most organic way
9. A healthy India via Ayushman Bharat with women having equal rights and concern for their safety and empowerment
10.     Transforming India into a Minimum Government Maximum Governance nation with pro-active and responsible bureaucracy.


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