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FROM THE Content 1. MD’S DESK... ? Union Budget 2020-21 Key points Page-02 Dear Aspirants, This is the information 1. age and knowledge has no limit. Gone are the BANKING & FINANCE days when people used Page- 04 to depend solely on libraries and books to 2. gain knowledge. The means of procuring STATE AFFAIRS knowledge and Page-05 accessing information Anshuman Nayak has undergone a sea B.E. (NIST, 3. change with the advent Berhampur) NATIONAL NEWS MBA (HR) (UBS, of computers, internet Page-07 and smart phones. The Chandigarh) internet is the biggest library ever created in human history and 4. seemingly presents itself as an unlimited and ever GLOBAL NEWS growing store of knowledge and information. Page-09 So when my team approached me with the idea ARIFIN of a current affairs magazine of the 5. first question I asked myself was why? What difference can we make? PEOPLE IN NEWS There are the news papers, a plethora of similar Page- 10 national level magazines and of course the internet which serve the purpose already. 6. The reason I gave my nod was simple. SPORTS (1) With so much of information around, Page-14 there is the problem of overload; I believe there is still a gap to be bridged when it 7. comes to providing precise, succinct and relevant information. AWARDS (2) It need not be a mere current affairs Page-16 magazine but rather it can be a holistic support system for competitive Exam 8. preparation with question banks, tips and Know more about MANIPUR tricks , concepts and practice exercises, general awareness, traditional GK and Page-20 more such similar features. Hence, the result is this magazine whose editorial 9. team is a blend of youth, energy, knowledge GK/CURRENT AFFAIRS QUIZ and experience. As explained earlier, I promise Page-21 my readers two things: (1) This is not going to be just another magazine. This will be a magazine with 10. a difference. FUN TIME LESSON (2) With each new issue, the magazine will Page-32 get better and better with new and innovative features,. So, watch out, enjoy and benefit!! Current Affairs Magazine March 2020 Union Budget 2020-21 Key points v The tax of only 10% will be charged to Rs 5 lakh-7.5 Billion USD. lakh income as against prevailing 20% rate. v The central Govt Debt got reduced in March 2019 v From Rs 7.5 lakh-10 lakh income, a tax rate of 15% to 48.7% of GDP from 52.2% in March 2014. against 20% prevailing rate. v Propose to undertake 16 Action Points including v For income Rs, 10-12.5 lakh, a rate of 20% will be agricultural-related points, water stress-related points. charged as against 30% earlier. v First Action Point includes 3 Model Agricultural- v For income between Rs 12.5 lakh-15 lakh will be taxed related Laws and water stress-related issue. at 25 per cent as against 30%. v Comprehensive measures for 100 water-stressed v For those at Rs 15 lakh plus income, the tax will districts, PM Kusum schemes removed farmers be 30%. dependence, Solar Power generation units will be set v Reducing the corporate tax rates for new companies in up for farmers to make a living out of the barren land. the manufacturing sector to 15%. Similarly, for existing v Kisan Rail through PPP model so that perishable companies, rates lowered at 22% goods can be transported quickly. Krishi Udaan will v FY-21 fiscal deficit target pegged at 3.5% of GDP – be launched by MoCA on international and national FY20 fiscal deficit at 3.8% of GDP vs earlier target routes. of 3.3%. v 16th Action Point Under Deen Dayal Antodaya v Tax on Co-op societies to be reduced to 22% plus Yojana 58 Lakh SHGs has been mobilised, Further surcharge, as against current 30%. expanding. v The government has proposed a 100% tax v 2 broad categories: For sector comprising of concession to sovereign wealth funds on investment agriculture, allied sector, 2.83 lakh crores have been in infrastructure projects. made for 2020-21, 1.6 lakh crores for agriculture For v Concessional tax rate of 15% extended to power rural and Panchayati Raj- 1.23 lakh crores. generation companies. v 112 Aspirational Districts to be covered v Dividend Distribution Tax (DDT) shifted to individuals for AYUSHMAN Treatment. instead of companies. v Wellness water and sanitation & Healthcare v Housing made more affordable, tax holiday to Mission Indradhanush expanded to cover. affordable housing developers. v 12 diseases, Fit India Movement, Jal Jeevan Mission, v Additional Rs 1.5 lakh tax benefit on Swachh Bharat Mission. affordable housing loans. v 69,000 crores to the health sector. v Govt to launch system for instant allotment of PAN on v TB haarega, Desh Jeetega” Campaign, Strengthen the basis of Aadhaar. the campaign to end Tuberculosis by 2025. Jan v Customs duty raised on footwear and furniture. Aushadi Kendra Scheme offering 2000 medicines, 300 v Nominal health cess on import of medical equipment surgical by 2024. to be introduced. v The new education policy will be announced soon, v Aadhaar-based verification of taxpayers is being IND-SAT exam proposed in Asian and African country introduced. for foreign university 3.60 lakh crores for Jal Jeevan v Zero-budget farming may not be a good move for mission. New Edu policy soon. Swachh Bharat fertiliser companies. Mission allocation Rs 12,300 crore. v Health cess on import of medical equipment imposed v Augmenting local water resources, promote water in Budget. harvesting in 2020-21, 11,500 crores will be provided. v The government has removed 70 v By 2030, India will have the largest working-age exemptions, deductions with a view to further simplify population in the world. the tax regime. v The new education policy will be announced v The budget has provided an outlay of ¹ 8,000 soon, IND-SAT exam proposed in Asian and African crores for quantum computing over five years to break country for foreign university New Edu policy soon. into this technology. v About 150 higher education institutes will start v FM Sitharaman halves customs duty on import of Apprenticeship embedded degree diploma courses by newsprint, lightweight coated paper to 5%. March 2021. Steps would be taken to enable sourcing v The government has extended concessional to provide higher quality education. Urban Local withholding rate of 5% on interest payment to non- Bodies to provide internship opportunities for young residents up to June 30, 2022. engineers. For deprived students, degree level full- v The government will launch ‘Vivaad Se Vishwas’ fledged online education programme to be started. Scheme to reduce tax litigation. v National Police University and National Foreign v GST as ”the most historic reform”. GST has University will be set up. Medical colleges to be set integrated the country economically, a 10% reduction up at district level to produce more doctors. in overall taxes. v High-Speed Train Mumbai-Ahemadabad would be v India FDI elevated to 284 Billion USD from 190 actively pursued. 2 www.arifin.in Current Affairs Magazine March 2020 v 27000 Km Train Track Electrification. v The government raised the insurance cover to Rs 5 v Solar-powered capacity to be set up alongside rail lakh per depositor, which is currently Rs 1 lakh. This tracks. comes after the PMC bank crisis. v To build a seamless national cold supply chain for v Krishi UDAAN scheme will be launched by the perishables, Indian Railways will set up Kisan Aviation Ministry. Rail through PPP model so that perishable goods can v NBFCS and cooperatives are active in be transported quickly. Krishi Udaan will be launched agriculture. NABARD refinance scheme will be by MoCA on international and national routes. expanded. There will be Rs 15 lakh crore agriculture v Rs 27,300 crore for the development and promotion credit availability. of industry and commerce. v New Education policy will be announced soon. v PM Govt allows tech companies to set up Data Centre v Urban local bodies to provide internship to young parks to provide internet to citizens. It allocates Rs engineers for a year so that they come to know how 6,000 crore for BhartatNet. the government functions. v 5600 crores Allocated to nutrition-related programmes v Degree level online education courses will be for FY 2020-21. Nutrition of Children, pregnant introduced which can be provided by colleges in the women, Poshan Abhiyan was launched. top 100 list by National Educational Institute List. v More than 6 lakh Anganwadi workers equipped with v Indian Gold February futures reclaimed the Rs 41,000- smartphones to update the nutritional status of 10 crore mark and could even retest the previous record high households Task Force appointed to mothers. of 41,293 per 10 gram. v For SC and OBC Classes, 85,000 crores allocated v A new scheme NIRVIC will be launched with the aim for FY 2020-21 For ST Classes, 53,700 crores of increasing India’s export credit. It will look into allocated for FY 2020-21 For Senior Citizens & setting up hubs in smaller rural areas and districts. Divyangs, 9,500 crores for 2020-21. The scheme will be launched this year itself. v Indian Institute of Heritage and Culture to be set up. 5 v India will host G20 Presidency in the year 2022 and archaeological sites would be developed as iconic the Finance Ministry is set to allocate Rs 100 crore sites with the onsite museum: Rakhi Garhi Haryana, for the preparations.
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