1 Feb 2017

Daily Current Affairs Updates–1st February 2017

Daily Current Affairs Updates–1st February 2017:
Daily Current affairs News Updates about the National and International events were listed here. Candidates those who are preparing for IBPS/SBI/PO/Clerk exam and all other competitive exams can use this.



NATIONAL:
Union budget 2017-18: All railway coaches to be equipped with bio-toilets by 2019:
While presenting the first unified Budget, Finance Minister Arun Jaitley on Wednesday announced that all railway coaches will have bio-toilets installed by 2019. Jaitley also said the service tax on the purchase of e-tickets booked through IRCTC will be withdrawn. A Rail Safety Fund with a corpus of 1 lakh crore will be created over next five years, he added.

Tax for Income ranging 3-5 lakh is halved to 5% :

Finance Minister Arun Jaitley on Wednesday announced that income tax for those earning 3-5 lakh per annum has been reduced to 5% from 10% earlier. During the 2017-18 Budget speech, Jaitley also announced that there will be no income tax for those earning less than 3 lakh per annum.


Senior citizens of the country to get Aadhaar-based smart health cards :
Finance Minister Arun Jaitley on Wednesday announced that Aadhaar-based smart cards with details of health conditions will be issued to senior citizens. The Cabinet had earlier approved a pension scheme for senior citizens, providing a guaranteed return of 8% for 10 years. The scheme is aimed at providing social security and protecting elderly persons aged 60 years and above.

All railway firms to be listed on stock exchange: Budget 2017
Finance Minister Arun Jaitley during the Union Budget speech on Wednesday said that railway firm Indian Railway Catering and Tourism Corporation (IRCTC) will be listed on stock exchange. Other railways-related, state-run companies like IRCON and IRFC will also be listed, he added. Jaitley also said that service charge levied on booking e-tickets for railways through the IRCTC will be withdrawn.
Ministry : Ministry of Finance
Head : Arun Jaitley
Constituency : Amritsar

Over next 5 years rail safety fund of Rs.1 lakh crore to be created
While presenting the Union Budget on Wednesday, Finance Minister Arun Jaitley said a rail safety fund with a corpus of 1 lakh crore will be created over next 5 years. He further said 500 stations will be made differently abled-friendly by providing lifts and escalators, and added that all coaches of Indian Railways will be fitted with bio-toilets by 2019.

1 crore houses to be build by government for homeless by 2019
Finance Minister Arun Jaitley on Wednesday announced that the government will construct 1 crore houses for the homeless and those living in kuchha houses by 2019, while presenting the Union Budget. He further announced an increase in the allocation for the Prime Minister Awas Yojana to 23,000 crore from 15,000 crore, aiming to provide housing for all by 2022.

Govt aims to achieve 100% rural electrification by May 2018: Budget
Finance Minister Arun Jaitley on Wednesday announced that the government aims to achieve 100% rural electrification by May 1, 2018. The total allocation for rural, agricultural and allied sectors for fiscal 2017-18 has been increased by 24% to a record 1.87 lakh crore, Jaitley added. Our focus has been to spend more on rural areas and its infrastructure, he stated.

Fiscal Deficit target of  3.2% sets by Govt in 2017-18
Finance Minister Arun Jaitley while presenting the Union Budget on Wednesday said that the fiscal deficit target for 2017-18 has been set at 3.2% of the GDP. The Fiscal Responsibility and Budget Management review committee has recommended a debt-to-GDP ratio of 60%, he added. Fiscal deficit represents the difference between total revenue and total expenditure of the government.

Service charge on e-rail tickets booking through IRCTC withdrawn :
Finance Minister Arun Jaitley in his Union Budget speech on Wednesday said that service charge levied on booking e-rail tickets through the Indian Railway Catering and Tourism Corporation (IRCTC) will be withdrawn. Further, he said that 500 rail stations will be made disabled-friendly by providing lifts and escalators. Further, all coaches of railways will be fitted with bio-toilets by 2019.

Rs.4K cr alloted for youth training on Skill knowledge awareness:
Presenting the annual Budget 2017, Union Finance Minister Arun Jaitley on Wednesday proposed to launch skill knowledge awareness at 4000 crore to provide market training to around 3.5 crore youth. "Skill Acquisition and Knowledge Awareness Program called SANKALP will provide market training to youth," said Jaitley. "100 Indian International Skill Centers will be established," he added.

Allocation for infrastructure sector raised to Rs.3.96L cr by Govt :
Finance Minister Arun Jaitley while presenting the Union Budget on Wednesday said the allocation to the infrastructure sector has been increased from 2.21 lakh crore to a record 3.96 lakh crore. He also said the Trade Infrastructure Export Scheme will be launched in 2017-18. Jaitley also announced a budget allocation of 2.41 lakh crore for the transport sector.

MGNREGA got highest allocation of fund of 48,000cr for 2017-18 :
In the 2017 Budget speech, Finance Minister Arun Jaitley on Wednesday announced that the government will allocate the highest-ever budget to Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) at 48,000 crore from about 37,000 crore. He also added that the participation of women in the MGNREGA programme has reached an all-time high at 55%.

Defence Budget got hike by 10% to Rs.2,74,000 crore
Finance Minister Arun Jaitley raised the Defence Budget by 10% to 2,74,000 crore, excluding pensions, while presenting the Union Budget today. Jaitley announced the launch of a central defence travel system for soldiers and an online pension distribution system for defence pensioners. The defence budget for last year was Rs.2,49,000 crore, an 11% increase compared to the budget for 2015-2016.

To provide high-speed broadband at villages, govt allocates Rs.10,000 crore fund :
Finance Minister Arun Jaitley on Wednesday announced that 10,000 crore was allotted for the Bharat Net project to provide high-speed broadband in 1.5 lakh Gram Panchayats by the end of 2017-2018. Optical fibre has already been laid across 1.55 lakh km, Jaitley said. A Digi Gaon initiative will be launched to provide telemedicine and education through digital technology, he added.

Transactions through cash get limited to Rs.3 lakh : Govt
In the 2017 Budget speech, Union Finance Minister Arun Jaitley on Wednesday announced that cash transactions above 3 lakh will not be allowed. This comes after demonetisation and various other measures by the government to curb black money in the economy. Jaitley also said that India is mainly a tax non-compliant economy and it puts pressure on tax payers.

On faulty airbags defect, Honda recalls over 40,000 cars in India :
Honda on Tuesday recalled 41,580 units of its Accord, Civic, City and Jazz models in India which were made in 2012 to replace faulty airbags. This takes the overall number of vehicles recalled by Honda in India with Takata-manufactured airbags to around 3 lakh. Japan-based Takata's exploding airbags have been linked to at least 17 deaths worldwide.

Water taxi services on Yamuna to start by June
The Centre's Yamuna Water Taxi Services, which would ferry tourists from Palla at Delhi-Haryana border to Wazirabad, may start operations by June this year. The aim is to promote tourism, reduce travel time between the two points from 3.5 hours to 45 minutes and keep burden off the roads. "Yamuna upstream... has the 'required depth' for navigation," said an official.

Target for Agri loan to farmers set about Rs.10 lakh crore
Finance Minister Arun Jaitley, in his 2017-18 Budget speech, said the target of agricultural loans to farmers was set at record 10 lakh crore. The total allocation for rural, agricultural, and allied sectors is 24% higher than last year at Rs.1,87,223 crore, he added. He further said a dedicated micro-irrigation fund will be started with an initial 5,000-crore corpus.

Donations for political parties got limited to  Rs.2,000 per donor in cash mode :
In order to bring transparency in political funding and curbing black money, Finance Minister Arun Jaitley announced that maximum cash funding to parties will be limited to 2,000 per donor. Political parties can receive donations in cheque, electronic mode and electoral bonds issued by the RBI, Jaitley added. Earlier, the maximum limit for political funding in cash was Rs.20,000.

Tax for firms with turnover of up to Rs.50 crore reduced to 25% :
Finance Minister Arun Jaitley in his budget speech on Wednesday said income tax for small companies with annual turnover of up to 50 crore will be reduced to 25% from 30% earlier. Around 96% of the companies in India will benefit from the lower tax. Further, startups will have to pay tax on profits for three out of seven years.

Two new AIIMS to be constructed in Jharkhand & Gujarat :
Presenting the Union budget for 2017-18 in the Lok Sabha today, Finance Minister Arun Jaitley said two new All India Institutes of Medical Sciences (AIIMS) will be set up in Jharkhand and Gujarat.
To make doing business easy, the budget proposes several measures. Individual Insurance agents having an income below the taxable limits are exempted from tax deducted at source - TDS.

NEET exam for medial seats in collages CBSE to conduct on 7th May this year :
The Central Board of Secondary Education, CBSE, will conduct the National Eligibility-cum-Entrance Test (NEET) for admission to all medical colleges in the country on 7th May this year. The test will be conducted across 80 cities for admission to MBBS and BDS courses in medical and dental colleges run with approval of the Medical Council and Dental Council of India.
Board : Central Board of Secondary Education
Chairman : Rakesh Kumar Chaturvedi
Headquarters : New Delhi, India

Basant Panchami bathing ceremony to take place today at sangam :
In Allahabad, Basant Panchami bathing, one of the important occasion of Magh mela, will take place today at sangam and other Ghats of holy rivers. Large number of devotees who are staying in magh mela area and kalpwasis will take holy dip at the confluence of Ganga and Yamuna. The district magistrate sanjay kumar said that all preparations for tomorrow’s bathing are completed.
State : Uttar Pradesh
Capital : Lucknow
Chief Minister : Akhilesh Yadav
Governor : Shri Ram Naik

India to participate in International Economic Forum at St. Petersburg as Guest of Honour :
India has been invited as a Guest Country at the St. Petersburg International Economic Forum to be held from 1st to 3rd June in Russia. External Affairs Ministry spokesperson Vikas Swarup today said Prime Minister Narendra Modi will attend the Forum as a Guest of Honour.


High-level consultations on counter-terrorism between India and Russia :
India and Russia held high-level consultations on counter-terrorism issues in New Delhi. An official release issued after consultations between the two special strategic partners said that both sides shared views and assessment on the threats posed by the scourge of terrorism, including state-sponsored, cross-border terrorism faced by India. They also shared concerns regarding the emergence of Afghanistan-Pakistan region as the epicentre of terrorism. They discussed successful experiences in curbing terrorism and countering radicalisation.
Country : Russia
Capital: Moscow
Currency: Russian ruble
President: Vladimir Putin
Prime minister: Dmitry Medvedev

31st Surajkund International Crafts Mela to start today :
The 31st Surajkund International Crafts Mela will begin today. Haryana Chief Minister Manohar Lal will inaugurate the fortnight-long event. Briefing media persons, Additional Chief Secretary (Tourism), Haryana government and Vice-Chairman, Surajkund Mela Authority VS Kundu said, Jharkhand is the theme state and Egypt is the partner nation. Our correspondent has the deatils.
State : Haryana
Capital : Chandigarh
Chief Minister : Manohar Lal Khattar
Governor : Kaptan Singh Solanki

All India Radio launched special FM radio station at Sainagar Shirdi, Maharastra :
In Maharashtra, All India Radio will launch today a special FM radio station- Sainagar Shirdi at Shirdi in Ahmadnagar district. It will cover an area of around 25 km from the Sai Baba temple. Chief Executive Officer of the Prasar Bharati Suresh Chandra Panda will officially launch the radio service, 103.7 MHz 'FM Shirdi Sai', at 9.30 this morning. All India Radio Director General F Shahariyar and Additional Director General M S Thomas will also be present at the launch of the FM Station. The programmes will be broadcast in Marathi, Hindi and English languages.
State : Maharashtra
Capital : Mumbai
Chief Minister : Devendra Fadnavis
Governor : C Vidyasagar Rao

INTERNATIONAL:
Security checks for passengers abolished in  Scotland airports :
Three airports in Scotland have abolished security checks for the first time in nearly 50 years, even as the move has been criticised over fears of terrorism. The airports now require passengers to make an oral declaration claiming they are not carrying banned items. The first flight without the checks took off from Campbeltown Airport with 15 passengers on Monday.
Country : Scotland
Capital : Edinburgh
Currency : Pound sterling

US products boycotted by Mexicans to protest Trump's wall tax :
Mexican consumers have started boycotting US products and US companies like Walmart, Starbucks and McDonalds protesting US President Donald Trump administration's proposed 20% tax on Mexican imports. The tax was aimed at making Mexico pay for a 2000-mile border wall even after the country's President, Enrique Pena Nieto, said Mexico will not pay for it.
Country : United States of America
Capital : Washington, D.C.
President : Donald Trump
Currency : United States Dollar

SAARC programming committee meeting starts today in Kathmandu
The programming committee meeting of South Asian Association for Regional Cooperation (SAARC) has began at Kathmandu today. Senior officials of all eight member countries are participating in the meeting.
Indian delegation is lead by Shri Prashant Agarwal, Joint Secretary (SAARC).During the two day meeting number of issues including budget of SAARC secretariat and its 5 regional centres and regular activities of the Associtation will be discussed.

UNICEF launches 3.3 bln USD to aid millions of children
UN children's agency UNICEF has launched an appeal for 3.3 billion US Dollar to help 48 million children caught up in crises worldwide amid fears of a funding cut from top donor the United States. This year's appeal represents a 18 per cent increase from the initial request for funding in 2016. Donors contribute to the appeals on a voluntary basis. The United States is by far the top donor to UNICEF, followed by Germany, Britain and the European Commission. According to UNICEF, Almost one in four of the world's children now lives in a country affected by conflict or disaster.
Organisation : UNICEF
Headquarters: New York, United States
CEO: Anthony Lake

BUSINESS AND ECONOMY NEWS:
Growth of Industrial sector to fall to 5.2% in FY17 from 7.4%
The Economic Survey 2016-17 has estimated that the industrial sector will witness a moderate growth of 5.2% in the ongoing fiscal year, as against a 7.4% growth rate in 2015-16. During April-November 2016, a modest growth of 0.4% was observed in the Index of Industrial Production. This was due to moderation in the mining and manufacturing sectors, the survey said.

CPI inflation declined to 4.9% in FY16 from 5.9% in FY15
The Economic Survey, tabled on Tuesday, stated that the average Consumer Price Index inflation declined to 4.9% in 2015-16 from 5.9% in 2014-15 and stood at 4.8% during April-December 2015. This shows that CPI inflation remained under control for the third successive financial year. Further, industrial sector's growth rate is estimated to moderate to 5.2% in 2016-17 from 7.4%.

AWARDS AND HONOURS :
ISB tops list of B-schools in India: FT Ranking
The Indian School of Business in Hyderabad has been ranked best from India, according to the Financial Times Global MBA Ranking of the best 100 programmes for 2017 worldwide. Other than ISB (27), IIM-Ahmedabad (29), IIM-Bengaluru (49) and IIM-Calcutta (95) were the Indian B-schools mentioned in the ranking, which has been topped by France's INSEAD.

APPOINTMENTS:
Anushka becames the ambassador of Swachh Bharat campaign
Actress Anushka Sharma has been appointed the ambassador of the Swachh Bharat campaign by the Ministry of Urban Development. She will be focussing on women-centric aspects of open defecation. Anushka has reportedly already shot for two television commercials for the campaign. Actor Amitabh Bachchan is also an ambassador of the Swachh Bharat campaign.

OBITUARY:
E Ahamed Member of  Parliament passes away at 78
Former Union minister (78), who had collapsed in the Parliament during the President's address on Tuesday, passed away early today after he suffered a cardiac arrest. "His body has been taken to AIIMS hospital for embalming (a method to preserve a corpse from decaying) as the facility is not available at RML," a senior RML doctor said.