DAILY CURRENT
AFFAIRS: 29 FEB 2016
(Daily News India)
1. VINOD
RAI APPOINTED AS FIRST CHAIRMAN OF BANKS BOARD BUREAU
i. Former Comptroller
and Auditor General Vinod Rai has been appointed as the Chairman of Banks Board Bureau .
ii. It will include
Vinod Rai as Chairman, N. Sinor as Member, Anil K Khandelwal as Member, Rupa
Kudwa as Members
iii. Banks Board
Bureau will be a super authority of
eminent professionals and officials for public sector banks .
iv. It is the part
of seven point Indradhanush Mission to revamp the PSBs
2. 28
FEBRUARY OBSERVED AS NATIONAL SCIENCE DAY
i. 28th feburary is celebrated as the National Science.
ii. The theme for
year 2016 is “Scientific Issues for Development of the Nation” that aims at
raising public appreciation
iii. This day marks
the ng discovery of Raman Effect by Indian physicist Chandrasekhara Venkata
Raman in February 28, 1928.
iv. The invention
was Some part of light beam after passing through a transparent medium gets
scattered after this discovery he was honoured
with the Nobel Prize in Physics in 1930.
3. UNION
BUDGET 2016-17: HIGHLIGHTS
i. Union Finance
Minister Arun Jaitley on 29 February 2016 presented Union Budget 2016-17 in the
Lok Sabha.
ii. He announced nine pillars of the budget and they
are Agriculture and farmers' welfare, rural sector, social sector including
healthcare, education, skills and job creation, infrastructure, financial
sector reforms, ease of doing business, fiscal discipline, tax reforms to
reduce compliance burden.
Highlights of the Union Budget 2015-16
Ø Agricultural policy
will be reorganised to double farmer income in five years
Ø new scheme to be launched
for gas connections in BPL families
Ø 28.5 lakh hectares
will be covered under irrigation under
the Pradhan Mantri Krishi Sichai Yojana
Ø long term
irrigation fund will be created in NABARD with a corpus of 20000 crore rupees
Ø Agricultural credit
target of 9 lakh crore rupees
Ø Paramparagat Krishi
Vikas Yojana to bring 5 lakh acres under organic farming
Ø 38500 crore rupees
allocated to MNREGA
Ø Allocation to PM
Fasal Bima Yojana for 2016/17 is 5500 crores rupees
Ø 87765 crores rupees
for rural development as a whole have been allocated in the budget
Ø 100 % village
electrification to be achieved by 1 May 2018
Ø Allocation of
Pradhanmatri Gram Sadak Yojna to be increased to 19000 Crore rupees
Ø As per
recommendation of 14th finance commission, 2.87 lakh crore rupees will be given
as grants-in-aid to village panchyats and municipalities to boost rural
economy.
Ø Government to spend
850 crore rupees in a few years on animal husbandry, cattle and livestock
breeding
Ø Four schemes for
animal welfare announced
Ø 5500 crore rupees
allocated for crop insurance scheme
Ø Health insurance of
up to 1 lakh rupees per family, top up of Rs 35,000 for people above 60 years
Ø Two schemes for
digital literacy for rural India to cover 6 crore households in the next three
years
Ø 9000 crore rupees
allocated for Swachch Bharat Abhiyan
Ø 500 crore rupees
allocated for Stand Up India scheme
Ø 8.33% will be paid
towards employee pension fund
Ø 100% FDI through
FAPB route in marketing of food products produced and manufactured in India
Ø Direct Benefit
Transfer for fertilisers
Ø 25000 crore rupees
sanctioned for recapitalisation of public sector banks
Ø General insurance
companies owned by the government to be listed in stock exchanges
Ø Amendment to the
Companies Act to ensure speedy registration and boost start-ups
Ø Relief will amount
to 3000 rupees per annum; 1 crore tax payers to benefit
Ø Ceiling of tax
rebate for tax payers with up to Rs 5 lakh annual come to be raised to 5000
rupees from 2000 currently
Ø SEBI Act to be
amended to provide for more benches for Securities Appellate Tribunal
Ø 100 percent FDI
will be allowed through FIPB in marketing of food products produced and
manufactured in India
Ø The Banking Boards
Bureau will be operationalised fiscal year 2016-17
Ø Presumptive income
tax scheme to be extended to all professionals with income of 50 lakh rupees
with a presumption of 50 percent profit
Ø In 2016-17, credit
target of 180000 crore rupees set up through Mudra bank
Ø 100 crore rupees
sanctioned for Deendayal Upadhyay's birthday celebrations and Guru Gobind Singh
300th birth anniversary
Ø Fiscal deficit at
3.5% of GDP in 2016-17
Ø Service Tax to be
exempted on general insurance schemes under NIRMAYA Scheme
Ø Target delivery of
financial, other intermediary services to be introduced using Aadhar
Ø 1% service charge
on purchase of luxury cars over 10 lakh rupees and in-cash purchase of goods
and services over 2 lakh rupees.
Ø Additional
exemption of 50000 rupees for housing loans up to 35 lakh rupees, provided cost
of house is not above 50 lakh rupees.
4. ROZLE
PREZELJ ELECTED CHAIRMAN OF IAAF ATHLETES’ COMMISSION
i. High jumper
Rozle Prezelj was elected as the Chairman of the International Association of
Athletics Federations Athletes' Commission in Monaco.
ii. He has replaced
Chairman of the commission from Frank Fredericks.
iii. International
Association of Athletics Federations is the international governing body for
the sport of athletics.
5. RESUL
POOKUTTY BECAME FIRST ASIAN TO WIN GOLDEN REEL AWARD
i. Famous sound
designer Resul Pookutty became the first Asian to win the award for Best Sound
for documentary India’s Daughter at the Motion Picture Sound Editors’ 63rd
annual Golden Reel Awards.
ii. Motion Picture
Sound Editors was founded in 1953 as a honorary society of motion picture sound
editors.
iii. Its main aim
is to educate others about and increase the recognition of the sound editors,
show the artistic merit of the soundtracks, and improve the professional
relationship of its members.
