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DAILY CURRENT AFFAIRS – 2nd FEBRUARY 2020 – GK TODAY UPDATES
1. Union Budget 2020: Key highlights
Union finance minister Nirmala Sitharaman presents her second Budget 2020-21 in parliament. Finance Minister is back with red cloth “bahi khata” to present the union budget amid the economic slowdown. This year’s budget is aimed at reviving the sliding economy and stimulate consumer demand.
There are 3 themes of India Budget2020:-
- Aspirational India,
- Economic development for all, and
- Develop a caring society
- Central government debt has come down to 48.7 per cent as of now from 52.2 per cent in March 2014.
- Fiscal deficit target pegged at 8% of GDP for FY20. FY21 fiscal deficit target pegged at 3.5% of GDP.
- Nominal GDP growth for 2020-21 estimated at 10%, says FM
- The government has allocated 83 lakh crore for agriculture and rural development.
- Agri-credit target for the year 2020-21 has been set at Rs 15 lakh crore.
- Income tax rate for those earning Rs 5- 7.5 lakh reduced to 10%: FM
“Those earning between Rs 7.5 lakh and Rs 10 lakh will pay an income tax of 15%. For income between Rs 10 to Rs 12.5 lakh, the new tax rate is 20 % and for income between Rs 12.5 lakh and Rs15 lakh, the revised tax rate will be 25 per cent,” said the Finance Minister.
Tax rate of 30% on income above Rs 15 lakh will be continued.
- Deposit insurance coverage increased from Rs1 lakh to Rs 5 lakh: FM
- Allocation for Swachh Bharat Mission for 2020-21 stands at Rs 12,300 crore. In further push to PM Modi’s ‘Nal se jaal’ scheme, govt proposes Rs 3.6 lakh crore towards piped water supply to households.
- Railways will set up Kisan Rail through PPP model so that perishable goods can be transported quickly. Krishi Udaan scheme to transport agri products to national as well international destinations to be launched.
- 550 WiFi facilities have been commissioned at railway stations. 1 lakh gram panchayats to get optical fibre link, says FM Sitharaman. An allocation of Rs 6,000 crore will be provided for BharatNet scheme.
- FM allocates Rs 99,300 crore for education sector in FY21
- Finance Minister Nirmala Sitharaman on Saturday allocated Rs 69,000 crore for the health sector.
- Foreign direct investment (FDI) into the country has increased to $284 billion during 2014-19 from $190 billion in previous five years.
- Rs 85,000 crore allocation for SC and OBCs in 2020-21
- Finance Minister also announced that the government will sell a part of its holding in Life Insurance Corporation of India (LIC) through an initial public offering (IPO). Besides this, govt will also sell its stake in IDBI Bank to private investors.
- National Textile Mission to be launched with a proposed Rs 1,480 crore allocation, says FM Nirmala Sitharaman.
- National Recruitment Agency will be set up in order to recruit candidates for non-gazetted post in PSBs.
STATIC GK for SBI Clerk online classes :
Nirmala Sitharaman is the current Minister of Finance and Corporate Affairs of India. She is a member of the Rajya Sabha, upper house of the Indian Parliament, since 2014.
Sitharaman formerly served as the Defence Minister of India, thereby becoming India’s second female defence minister and also the second female finance minister after Indira Gandhi and first full-time female Finance Minister.
2. Indian Coast Guard Day: 01 February
The Indian Coast Guard (ICG) is celebrating its foundation day on 1 February. The ICG is an armed force of India which protects maritime interests and enforces maritime law with jurisdiction over the territorial waters of India, including its contiguous zone and exclusive economic zone. It operates under the Ministry of Defence.
The Coast Guard works in close cooperation with the Indian Navy, the Department of Fisheries, the Department of Revenue (Customs) and the Central and State police forces.
STATIC GK for SSC Online Classes:
Director General of ICG: Krishnaswamy Natrajan
Headquarters: New Delhi
3. Madhya Pradesh: 3-day Narmada Mahotsav held from 31 Jan- 02 Feb
In Madhya Pradesh, three-day Narmada Mahotsav held in the picturesque plains of Amarkantak on the occasion of Narmada Jayanti.
Local tribal art and culture was duly demonstrated during Amarkantak Narmada Mahotsav-2020.
The Narmada is a major source of drinking water, irrigation and hydroelectricity for Madhya Pradesh and Gujarat. During the Mahotsav, one day was reserved for all women activities under the theme of “Beti Bachao – Beti Padhao”.
STATIC GK for SSC CGL Online Classes:
Mr. Kamal Nath is the present Chief Minister of Madhya Pradesh and Mr. Lalji Tandon as the Governor of the state.
4. USA declares public health emergency over spread of coronavirus
- USA declared a public health emergency over the spread of the coronavirus. Foreign nationals who have visited China in the past two weeks. US citizens returning from Hubei province, where the outbreak started, will be quarantined for 14 days. World Health Organization (WHO) declared a global health emergency over the new virus.
According to the World Health Organisation (WHO), Coronavirus is similar to the viruses that cause serious illnesses ranging from the common cold to Middle East Respiratory Syndrome (MERS-CoV) and Severe Acute Respiratory Syndrome (SARS-CoV).
5. President of India to inaugurate New Global Headquarters of Ram Chanda Mission
President of India, Shri Ram Nath Kovind will visit Telangana on February 1 and 2, 2020 to inaugurate the new global headquarters Kanha Shanti Vanam of Shri Ram Chandra Mission in Rangareddy District on February 2, 2020.
Kanha Shanti Vanam is the global headquarters of the Heartfulness Institute. It is a spiritual retreat center or Ashram spread across in a sprawling 1,400-acre campus. It is located in Kanha village, near Chegur village of Ranga Reddy district, about 50 km from Hyderabad, India.
STATIC GK for SBI Clerk online classes :
The President is the head of the state and also the supreme commander of Armed forces.
Dr. Rajendra Prasad was the first President of India.
Residence – Rashtrapati Bhavan, New Delhi