CURRENT AFFAIRS 12th JULY 2014. ___________________ 1.Indian mathematician Nikhil Srivastava becomes the first joint winner of 2014 George Polya Prize. 》His team of three was honoured for unraveling aproblem which had eluded mathematicians for over half acentury. 》They found the solution to the Kadison-Singer conjecture that pertains to the mathematical foundations of quantum mechanics. 》The biennial George Polya Prize is given alternately in two categories: for a notable application of combinatorial theory; and for anotable contribution in another area of interest like as approximation theory, complex analysis, number theory, orthogonal polynomials, probability theory, mathematical discovery and learning. 》It was instituted in 1969to honour the Hungarian mathematician Polya who is known for his fundamental advances in combinatorics, numerical analysis, number theory and probability theory. 2. USplans to create the worlds largest marine sanctuary in Pacific Ocean. 》The plan is to expand the existing Pacific Remote Islands Marine National Monument in the central Pacific from around 225,000to 2million square kilometers. 》The largest protected area on the earth - either on land or sea - will be two times larger than the currently largest protected area located in Greenland. 3. World Population Day2014is observed across the globe on July 11. 》The event highlights the issues related to global population. 》The theme for this year is Investing in Young People. 》It was established by the Governing Council of the United Nations Development Programme (UNDP) in 1989. 4. MP Bezbaruah Committee, constituted to examine the concerns of migrants from North East regions due to racial discrimination, submits its report. 》It was set up after the racially-inspired brutal murder of Nido Tania, a19-year-old student from Arunachal Pradesh, in Delhi in January. ______________________________________________________ Delhi is the 2ndlargest city in world: UN ________________________________________ 》It had to comeoneday - sooneror later ! 》Once in a whilewe get a titlewe cherish,and be proud of ! But therealways are and have beenexceptionto the rules !! 》Delhi has gotonesuchtitletoo- of worlds 2nd most populouscity - with a whopping populationof 25 million . (Go figure...if its an honour??) 》Its only behind longtimeleaderTokyo whose populationat presentis at its peakwith 38 million inhabitants- a figurewhichis expectedto comedownto 37 million by 2030. Top 10 most populouscity in the world NOW _____________________________________________ • Tokyo, Japan: 38 million • Delhi, India: 25 million • Shanghai (China): 23 million • Mexico City (Mexico): 21 million • Sao Paulo (Brazil): 21 million • Mumbai- 21 million(May reach to 4th spot by 2030with a populationof 28 million) • Osaka (Japan): Above 20 million • Beijing(Chinese capital): Below 20 million • New York City (US): 18.5 million • Cairo (Egypt): 18.5 million ★Details __________ 》The data is the result of 2014 revision of the World Urbanisation Prospectsby UN Department of Economicand Social Affairs (UN DESA)’s Population Division 》The globalurban populationis expectedto reach massive 814 million by 2050 as compared to 410 million today. 》The count of mega citieswith a population of over 10 million has climbedto 28 as against just10 in 1990. The goodnews (??) is they will furthergrow to 41 by 2030. 》Asia and Africa: Thepivot of the growth India is projectedto add the highest numberof peopleto its urban population by 2050, aheadof China. The largestcontributaryto thisurban explosionwill be India, China and Nigeria respectively(between 2014 and 2050). 》India, with 857 million, currentlyhas the largestrural populationin the world followed by China (635 million). 》Delhi will continueits rampantgrowth rising upto 36 million by 2030 - justa million short of still-the-leader Tokyos37 million at the time. Repercussions _______________ 》This indiscriminatebutinevitableurban growth will throwmultiplechallengesin the following areas.. Housing, infrastructure,transportation, energy, employment,education,healthcare and sanitation. General Annual Budgetfor 2014-15 ______________________________________________________ Current Affairs 12 Jul, 2014 ______________ 1) The controversial bill on Polavaram Project of Andhra Pradesh was passed in the Lok Sabha on 11 July 2014 amid protests from members of the Telangana Rashtra Samithi (TRS), the BJD, the Trinamool Congress, the AIMIM and sections of the Congress. Why the TRS is protesting vociferously against passing of this bill? – Because the Bill paves the way for the shifting of seven mandals from Telangana to Andhra Pradesh Explanation : The bill titled ‘Andhra Pradesh Re-organisation (Amendment) Bill’ was opposed on the grounds that the transfer of land was being done in an unconstitutional manner, violating Articles 3 and 4 of the Constitution which mandates that the two State Assemblies have to be consulted. The Polavaram project is a multi-purpose irrigation project, which constitutes of adam across the Godavari River and is under construction located in West Godavari District and East Godavari District in Andhra Pradesh state. Its reservoir spreads in parts of Chhattisgarh and Orissa States also. 2) Delhi was declared as world’s second most populated city in 2014 in the revision of United Nations’ World Urbanisation Prospects 2014 Report that was released on 10 July 2014. Which city once again occupied the top spot as world’s most populated city? – Tokyo Explanation : Tokyo topped UN’s ranking of the most populous cities in 2014 with 38 million inhabitants and while its population is projected to decline, it will remain the world’s largest city in 2030 with 37 million people. Delhi become the world’s second most populous city in 2014after Tokyo, more than doubling its population since 1990to 25million. The Indian capital is expected to retain the spot of the world’s second most populous city through at least 2030,when its population is expected to rise swiftly to 36million. 3) Name of which Portugal bank was associated with the Portuguese banking crisis which affected stock markets all over the world on 11July 2014?– Banco Espirito Santo SA Explanation : Banco Espirito Santo SA (BES) is the second-largest bank in Portugal. The banking crisis in Portugal started after the ratings agencies Moody’s and S&P sharply downgraded the long-term debt ratings of the bank after amissed payment on short-term debt by a member of the BES’s ultimate parent, the Espirito Santo Group (ESG). However, BES sought to reassure investors by revealing its exposure to related companies. 4) Vakkom B. Purushothaman, who resigned on 11 July 2014, was the Governor of which state? – Mizoram Explanation : His resignation came in the wake of his transfer to Nagaland as its new Governor. Purushothaman criticised the way Governors were being shunted by the NDA government since it came to power in May2014. He belonged to the Congress and was appointed by the UPA government. Purushothaman had served as Minister in different Cabinets and was Speaker of the Kerala Assembly. 5) The tender bids for the construction and maintenance of the ambitious ‘Statue of Unity’ commemorating Sardar Vallabhbhai Patel in Gujarat were opened on 9July 2014.Which company looks all set to bag this iconic project? – L&T Explanation : Engineering giant L&T (Larsen & Toubro)’s bid for Rs. 2,980 crore was the lowest among the bidders and the company looks all set to bag the project. However, the estimated cost of the project stood at Rs. 2,063. The project involves construction of a huge 182-metre-tall Statue of Sardar Vallabhbhai Patel on River Narmada at Bharuch (Gujarat). 6) 102-year old Zohra Sehgal known as the “Grand Old Lady of Indian Theatre” passed away on 10 July 2014. She was cremated with full state honours on 11 July 2014 at the Lodhi Road crematorium in Delhi. She was associated with the dance troupe of which famous dancer that initiated her towards the world of theatre? – UdayShankar Explanation : Zohra was attracted towards Uday Shankar’s troupe after watching a performance in Europe. She joined the troupe in August, 1935 at the age of 23. She migrated to films in 1946 with films like ‘Dharati ke Laal’ and ‘Neecha Nagar’. ‘Cheeni Kum’ and ‘Saawariya’ were her last films in 2007. She received the Padma Vibhushan, India’s second-highest civilian honor, in 2010. ______________________________________________________ CURRENT AFFAIRS; IMPORTANT NEWS & DAILY UPDATES; 12-JULY-2014 INDIA SIGNS LOAN AGREEMENTS WITH WORLD BANK FOR US $ 153 MILLION FOR ODISHA DISASTER RECOVERY PROJECT The Loan Agreements for World Bank (International Development Association {IDA}) assistance of US$ 153 million for Odisha Disaster Recovery Project were signed here today between the Government of India and the World Bank. The Financing Agreement was signed by Shri Nilaya Mitash, Joint Secretary, Department of Economic Affairs on behalf of Government of India and Mr. Michael Haney, Acting Country Director (India), World Bank on behalf of the World Bank. The Project Agreement was signed by Shri Upendra Nath Behera, Additional Chief Secretary on behalf of the Government of Odisha. Officers of the Finance Ministry along with the representatives from the State Government and the World Bank were also present on the occasion. The Objective of the project is to restore and improve housing and public services in targeted communities of Odisha, and increase the capacity of the State entities to respond promptly and effectively to an eligible crisis of emergency. Direct beneficiaries of the Project include population of the coastal areas in Ganjam, Puri and Khordha affected by the cyclone that will be part of the housing reconstruction programme, about 150,000,of which about 50% are female, and about 30,000inhabitants of selected slums in Berhampur, of which about 50% are female. In addition, the total population of Berhampur, around 350,000, will benefit either directly or indirectly from the improvements expected to result from the master plans, as well as the totality of the 42million inhabitants of the State as aresult from increased capacity to manage and respond to disasters. The project will have five components which are (I) Resilient Housing Reconstruction and Community Infrastructure, (II) Urban Infrastructure in Berhampur, (III) Capacity Building for Disaster Risk Management, (IV) Implementation Support, and (V) Contingent Emergency Response. The Project focusses on enhancing the disaster risk management systems. In addition, it will help build institutional capacity to prepare for and manage the impact of natural disasters and help people protect themselves from natural disasters and recover quickly from them. The Project will be implemented over aperiod of 5years. The Government of Odisha is the implementing agency of the Project. DACA: DEFERRED ACTION FOR CHILDHOOD ARRIVAL PROGRAMME Deferred Action for Childhood Arrival (DACA) programme was in news because India-born Pratishtha Khanna, Champions of Change was recognized as one of the ten Champions of Change in Washington, USA. The President Barrack Obama launched the Deferred Action for Childhood Arrival programme in 2012. Under the programme, person may request consideration of deferred action for childhood arrivals if that person is under the age of 31 as on 15 June 2012 and came to the United States before reaching his/her 16thbirthday. Department of Secretary of Homeland Security of US on 15 June 2012 announced that certain people who came to the United States as children and meet several key guidelines may request consideration of deferred action for a period of two years, subject to renewal, and would then be eligible for work authorization. Deferred action is adiscretionary determination to defer removal action of an individual as an act of prosecutorial discretion. NOTED HINDI POET KEDAR NATH SINGH SELECTED FOR JNANPITH AWARD 2013 Kedarnath SinghNoted Hindi poet Kedarnath Singh was chosen for the prestigious Jnanpith award for 2013. He is the 10thHindi writer to receive the honour and is the 49threcipient of Jnanpith award. Kedarnath Singh (80-year-old) was born in Balia of Uttar Pradesh and is known for his work Abhi bilkul abhi and Yahan se dekho. With this he joined the league of noted Hindi writers who have won Jnanpith award • Sumitra Nandan Pant • Ramdhari Singh Dinkar • Sachidananda Vatsyayan • Mahadevi Varma • Naresh Mehta • Niirmal Verma • Kunwar Narayan • Amar Kant • Sri Lal Sukla AboutKedarnath Singh _______________________ • He became famous with a book entitled teesra saptak edited by Sachchidananda Hirananda Vatsyayan whose pen name was Agyeya • He was born in 1934in Chakiya village of Balia district of Uttar Pradesh • He completed his MA and PhD from Banaras Hindu University in 1956 and 1964 • He has been aprofessor and Head of Department of Hindi department of Jawaharlal Nehru University (Delhi) Major works of Kedarnath Singh _________________________________ • Poem Collection: Abhi Bilkul Abhi, Zameen pak Rahi Hai, Yahan se Dekho, Akaal mein Saaras, Baagh, Tolstoy aur cycle • Essay and Stories: Mere Samay ke Shabd,Kalpana aur chhayavad, Hindi kavita mein bimb vidhan, Kabristan mein Panchayat • Others: Taana Baana AboutJnanpithAward ______________________ Jnanpith award is one of the prestigious literary awards in India and was instituted in 1961. The award is given to any Indian citizen who writes in any official languages of India mentioned in VIII Schedule of Constitution of India. It is presented by Bharatiya Jnanpith, a trust founded by the Sahu Shanti Prasad Jain family. The award includes 11 lakh rupees and a citation. The name of award is taken from a Sanskrit words Jnana and Pitha (knowledge-seat). • The first Jnanpith Award was given in the year 1965 • The first recipient was G Sankara Kurup for his work Odakkuzhal (Flute) in Malyalam language • Since 1982, that is, 18th Jnanpith Award, the award is given for lifetime contribution to Indian literature • Prior to 1982,the award was only given for asingle work by awriter • Once alanguage gets the award, it is not eligible for consideration during the next three years • Since 2011, a Jnanpith Awardee is given a cash prize of 11 lakh rupees along with ashawl and citation. Earlier, the cash prize given to an awardee was 7lakh rupees Womenwriters winningJnanpithAward ________________________________________ Seven women writers have won the Jnanpith Award so far. These are: ___________ • Ashapoorna Devi (1976, Bengali), • Amrita Pritam (1981, Punjabi), • Mahadevi Varma (1982, Hindi), • Qurratulain Hyder (1989, Urdu), • Mahasweta Devi (1996,Bengali), • Indira Goswami (2000, Assamese) and • Pratibha ray (2011, Oriya). Past Five Winners __________________ • Ravuri Bharadwaja (2012)Telegu • Pratibha Ray (2011)Oriya • Chandrasekhar Kambar (2010)Kannada • Shrilal Shukla (2009)Hindi • Amarkant (2009)Hindi IEP RELEASED GLOBAL PEACE INDEX 2014 Institute for Economics and Peace released Global Peace Index (GPI) 2014 in London on 18 June 2014. The GPI 2014 measured peace for 162 countries on the basis of 22indicators. Among these 162 countries, India has been ranked 143rd. In GPI 2013,India was ranked 141st. In the GPI 2014, Syria displaced Afghanistan as the world’s least peaceful nation while Iceland maintained its status as the most peaceful country in the world. Georgia showed the largest improvement in peace levels, while South Sudan experienced the largest drop and now ranks as the third least peaceful country. ★ Highlights of GPI 2014 __________________________ • The GPI 2014revealed that in last seven years there has been downward slide in world peace which has overturned a 60-year trend of increasing global peacefulness since the end of Second World War in 1945. • Average global peace indicator for all the countries in the world together moved from 1.96to 2.06,indicating aless peaceful world. • The deterioration in world peace has been due to conflicts in Syria, South Sudan and Central African Republic (CAR), tensions over Ukraine and increased terrorism in Afghanistan, Iraq, the Philippines and Libya. • The estimation of impact of violence on global economy is 9.8trillion US dollars or 11.3 percent of world GDP in 2013 which is an increase of 179 billion US dollars over 2012. On per capita basis, the economic impact of violence is equal to 1350USdollar per person • Since 2008,111countries have deteriorated in levels of peace, while only 51have increased. • Europe retains its position as the most peaceful region with 14of the top 20most peaceful countries. • 500 million people live in countries at risk of instability and conflict, 200 million of whom live below the poverty line. • Since 2008 only four of the Global Peace Index’s 22 indicators showed improvement, while 18deteriorated. Region-wise Highlights of GPI 2014 ____________________________________ • Europe: It once again leads the world in terms of its overall levels of peace, with the Scandinavian countries performing particularly well. Most of the improvements in peace are in the Balkans, an area that has traditionally been the most turbulent in the region. • North America: The peace score has deteriorated slightly, mostly on account of a rise in terrorist activity in the US, related to the Boston-marathon attack in April 2013. The region retains its position as the second-most peaceful in the world, largely on account of Canada’s score. • The Asia-Pacific: This region remains among the most peaceful in the world: it ranks third, behind Europe and North America, and suffers only a very modest deterioration from its 2013 score. The reason for slight deterioration has been ongoing dispute on South China Sea and developments in Korean peninsula. • South Asia: This region remains at the bottom of the overall regional rankings; however its score did improve more substantially than any other region. All countries in South Asia improved their overall scores, especially their domestic peace. • Russia and Eurasia: This region shows a modest improvement in the rankings, and benefits from positive score changes from all but four of the twelve states in the region. Russia remains the least peaceful country in the region and one of the poorest performers globally, ranking 152nd. • Central America and the Caribbean: Peace in this region remains challenging, but the region manages to improve slightly compared to its 2013score and ranks only slightly below the global average. • Sub-Saharan Africa: This region sees the second largest deterioration in the regional scores but still fares better than Russia and Eurasia, Middle-East and North Africa as well as South Asia. Four out of the ten countries with the largest negative score changes come from this region, topped by South Sudan and the Central African Republic. IndiaandGPI 2014 ___________________ • India is ranked 143rd out of 162countries and has slipped two positions from 141in 2013. • Other South Asian countries are ranked as follows: • Nepal (76), • Bangladesh (98), • Sri Lanka(105), • Pakistan (154) and • Afghanistan (161). • China is ranked 108 on account of China increasing its military expenditure between 2012 and 2013 and due to increase in intensity of internal conflicts. • The economic impact of containing and dealing with the consequences of India’s level of violence was estimated to cost the national economy 177billion US dollars in 2013. The estimation is equivalent to 3.6 percent of GDP of India or 145USdollars per person. • India suffers chronically from international tensions and widespread internal conflict. Maoist movements are one the biggest threats to internal security of India and sporadic conflict with neighbours also threatens external security of India. In concurrence, India is ranked number 4 out of 159countries in the Global Terrorism Index. • If India could improve its overall levels of peace then substantially improve its economic growth rates by the dividend that would flow from the World. Risk Assessment Models _________________________ The Institute for Economics and Peace (IEP), which produces the report, has also developed new Risk Assessment Model to identify the 10 countries most threatened by increased levels of unrest and violence in the next two years. These models have a90%historical accuracy. Countries with higher levels of risk include Zambia, Haiti, Argentina, Chad, Bosnia and Herzegovina, Nepal, Burundi, Georgia, Liberia and World Cup 2022host Qatar. Top ten Countries: RANKNAME OF THE COUNTRY 1 Iceland 2 Denmark 3 Austria 4 New Zealand 5 Switzerland 6 Finland 7 Canada 8 Japan 9 Belgium 10 Norway AboutGlobal Peace Index (GPI) _______________________________ GPI as a measure of world peace was launched in 2007. The 2014 release was 8th in series. It is the worlds leading measure of global peacefulness produced by the Institute for Economics and Peace. The Index is composed of 22 indicators, ranging from a nation’s level of military expenditure to its relations with neighbouring countries and the percentage of prison population in 162countries. The IEP is a Sydney-based international and independent think tank dedicated to shifting the world’s focus to peace as a positive, achievable, and tangible measure of human well-being and progress. HIGHLIGHTSOF THEBUDGET:- ARUN JAITLEY RETAINS FISCAL DEFICIT TARGET AT 4.1%, OUTLINES ROADMAP- Government will retain the fiscal deficit (Total expenditure- Toal government non debt creating revenue)target for 2014-15at 4.1 per cent of GDP and brought down to 3.6 per cent in 2015-16 and 3 per cent by 2016-17. There are many challenges to lowering fiscal deficit like low frowth, High interest rate, subsidy burden etc. The CAD, which is the difference between inflows and outflows of foreign exchange, was brought down to 1.7 per cent of GDP in 2013-14, from a record 4.7 per cent in the previous year, because of actions taken by Government, RBIand Sebi. STRONG EMPHASIS ON RURAL DEVELOPMENT- Agriculture credit availability will be Rs. 8 lakh crore. Farmers who make prompt repayment will be given loan at 4per cent interest. rural infrastructure development fund of Rs. 5,000crore will be available. rovision has been made for developing agricultural warehouses at a cost of Rs. 5,000crore. The National Rural Livelihood Mission will be extended to 100 more districts. Soil health cards will be provided to farmers and anew urea policy will be developed. 1000 crore for Pradhan mantri krishi sinchayee yojana for assured irrigation. Shyam Prasad Mukharji Rurban Mission for integrated product based infrastructure. Deen Dayal upadhayaya gram jyoti yojana for rural power. GOVT TO REVIEW DTC BILL IN ITS PRESENT FORM Draft DTC Bill prepared by the then Finance Minister Pranab Mukherjee in 2010which proposed the slabs at Rs 2-5 lakh (10 per cent) ,Rs 5-10 lakh (20per cent) and Rs 10 lakh and above (30 per cent). Here the corporate taxwas proposed at 30per cent. The Standing Committee on Finance headed by Senior BJP leader Yashwant Sinha suggested raising the income taxexemption limit to Rs 3 lakh as against Rs 2lakh proposed in the DTC Bill, 2010. The Standing Committee in its recommendation suggested the slabs in the brackets of Rs 3-10 lakh, Rs 10-20lakh and Rs 20lakh and above. On corporate tax,it recommended that the rate be retained at 30per cent. 11per cent jump in Home Ministry’s budget The Home Ministry was allocated Rs. 65,745crore in the 2014-15Budget announced on Thursday, a11per cent jump over last year’s outlay. It is also proposed to set up ‘Crisis Management Centres’ in all the districts of National Capital Territory of Delhi this year in all government and private hospitals. The funding will be provided from the Nirbhaya Fund setup after 16thdecember 2012incident in Delhi. CRPF which is involved in anti-Naxal operations besides maintaining security situation in Jammu and Kashmir and the Northeastern region has been allocated Rs. 12,169.51 crore comparison to Rs. 11,373.72 crore it received last year. The BSF, which guards Indo-Pak and Indo-Bangladesh borders ; Assam Rifles, which plays a key role in anti-insurgency operations in the Northeast and guards the Indo-Myanmar border ; The ITBP, which guards the icy heights along the Sino-Indian border etc. have all seen a rise in their allocation. A sum of Rs. 11.37 crore has been allocated for developing traffic and communication networks and model traffic systems in NCR, Rs. 11.50 crore for installation of traffic signals in the national capital and Rs 110 crore for construction of fortified police stations in Naxal-affected states. GOVT PROPOSES OVER RS. 2,000 CR FOR GANGA CONSERVATION MISSION An integrated programme for the conservation of river Ganga called “NamamiGange” with an outlay of Rs 2,037crores has been proposed. To harness the enthusiasm of the NRI community towards the conservation of the river Ganga, an ‘NRI Fund for Ganga’ will be set up which will finance special projects. A sum of Rs. 100 crore has been set aside for Ghat development and beautification of the river front at Kedarnath, Haridwar, Kanpur, Varanasi, Allahabad, Patna and Delhi. The budget also contains the first ever effort to link the rivers across the country with the Finance Minister setting aside a sum of Rs. 100 crore in the current budget to expedite the preparation of Detailed Project Reports. GOVT TO CONTINUE AADHAAR, PROVIDES RS. 2K CR IN 2014-15 A sum of Rs 2,039.64crore has been provided for 2014-15to execute the task of implementing Unique Identification as entrusted to Unique Identification Authority of India (UIDAI). UIDAI was mandated to collect biometrics of 600 million residents in the country and rest of the population was to be covered under the National Population Register (NPR) project. Cabinet Committee on UIDAI decided that all residents would be issue National Multi-purpose Identity Cards under NPR and UIDAI would generate Unique identification number for the entire population. Both UIDAI and NPR were to share the biometric data collected by them for issuing NMICand generating unique identification number. The NPR is acomprehensive identity database maintained by the Registrar General and Census Commissioner of India under the Home Ministry. GOVERNMENT EXTENDS NDA’S SENIOR CITIZEN PENSION SCHEME FOR ONE MORE YEAR Varishtha Pension Bima Yojana, first introduced by the previous NDA government has been revived again for the period of one year. ovt. also proposed setting up acommittee to examine unclaimed amounts lying as deposits in accounts of PPF, Post Office and other saving schemes and recommend how this amount can be used to protect and further financial interests of the senior citizens. UNION BUDGET 2014-15: WEAKER SECTIONS The Union Budget introduced new scheme Van Bandhu Kalyan Yojna for tribals, National level institutes for Universal Inclusive Design, Mental Health Rehabilitation and aCentre for Disability Sports to be established. Scheduled Caste/Scheduled Tribe ___________________________________ • An amount of 50548 crore rupees is proposed under the SC Plan and 32387crore rupees under TSP. • For the welfare of the tribals Van Bandhu Kalyan Yojna launched with an initial allocation of 100crore. Senior Citizen &Differently AbledPersons • Varishtha Pension Bima Yojana (VPBY) to be revived for alimited period from 15 August 2014 to 14 August 2015for the benefit of citizens aged 60 years and above. • A committee will to examine and recommend how unclaimed amounts with PPF, Post Office, saving schemes etc. can be used to protect and further financial interests of the senior citizens? • Government notified a minimum pension of 1000 per rupees month to all subscriber members of EP Scheme. Initial provision of 250crore rupees. • Increase in mandatory wage ceiling of subscription to 15000 rupees. A provision of 250crore rupees in the current budget. • EPFO to launch the Uniform Account Number Service for contributing members. • Scheme for Assistance to Disabled Persons for purchase/fitting of Aids and Appliances (ADIP) extended to include contemporary aids and assistive devices. • National level institutes for Universal Inclusive Design, Mental Health Rehabilitation and aCentre for Disability Sports to be established. • Assistance to State Governments to establish fifteen new Braille Presses and modernize ten existing Braille Presses. • Government to print currency notes with Braille like signs for visibly challenged persons. UNION BUDGET 2104-15: FINANCIAL SECTOR The union budget to energize capital markets introduced uniform KYC norms and inter-usability of the KYC records across the financial sector, one single operating demat account and Uniform tax treatment for pension fund and mutual fund. Capital Market _______________ • Ongoing process of consultations with all the stakeholders on the enactment of the Indian Financial Code and reports of the Financial Sector Legislative Reforms Commission (FSLRC) to be completed. • Government in close consultation with the RBIto put in place a modern monetary policy framework. • Following measures will be taken to energize Capital markets: 1. Introduction of uniform KYC norms and inter-usability of the KYC records across the entire financial sector. 2.Introduce one single operating demat account 3. Uniform tax treatment for pension fund and mutual fund linked retirement plan UNION BUDGET 2014-15: INFRASTRUCTURE The Union Budget provided finances to set up an institute which provides support to mainstream the 4PIndia, Comprehensive policy will be announced, to develop Jal Marg Vikas (project on Ganges) and encouraging Tier Iand Tier IIairports. Infrastructure ______________ • An institution to provide support to mainstreaming (People Public Private Partnership - PPPPs) called 4PIndia to be set up with a corpus of 500 crores rupees. Shipping _________ • 11635 crore rupees will be allocated for the development of Outer Harbour Project in Tuticorin for phase I. • SEZswill be developed in Kandla and JNPT. • Comprehensive policy to be announced to promote Indian ship building industry. InlandNavigation __________________ • Project on Ganges called Jal Marg Vikas to be developed between Allahabad and Haldia. New Airports • Scheme for development of new airports in Tier I and Tier IICities to be launched. Roads sector _____________ • Sector needs huge amount of investment along with debottlenecking from maze of clearances. • An investment of an amount of 37880 crores rupees in NHAI and State Roads is proposed which includes 3000crores rupees for the North East. • Target of NH construction of 8500 km will be achieved in current financial year. • Work on select expressways in parallel to the development of the Industrial Corridors will be initiated. For project preparation NHAIshall set aside asum of 500crore rupees. Petroleum &Natural Gas _________________________ • Production and exploitation of Coal Bed Methane reserves will be accelerated. • Possibility of using modern technology to revive old or closed wells to be explored. • Usage of PNGto be rapidly scaled up in aMission mode. • Proposal to develop pipelines using appropriate PPP models. Mining _______ • Changes, if necessary, in the MMDR Act, 1957 to be introduced to encourage investment in mining sector and promote sustainable mining practices. UNION BUDGET 2014-15: INDUSTRY, MSME & TEXTILES The Union Budget 2014-15provided new initiatives like National Industrial Corridor Authority and preparing master planning of industrial corridors and economic corridors to increase the industrial growth. It also proposed for Export promotion Mission to bring different stake holders under one umbrella. In MSME sector, new schemes like skill India to create employability and entrepreneur skills to youth whereas Fund of Funds is corpus to provide equity through venture capital funds, quasi equity, soft loans and other risk capital etc. In Textile sector, budget provided finance to set up Trade Facilitation Centre and a Crafts Museum, and to develop the Textile mega-clusters. It also provided finance to set up Hastkala Academy and for the development of Pashmina Promotion Programme (P-3) and Jammu and Kashmir crafts. Industry _________ • Central Government Departments and Ministries to integrate their services with the e-Biz -a single window IT platform- for services on priority by 31December 2014. • 100 crore rupees provided for setting up aNational Industrial Corridor Authority. • Amritsar Kolkata Industrial master planning to be completed expeditiously. • Master planning of 3new smart cities in the Chennai-Bengaluru Industrial Corridor region , viz., Ponneri in Tamil Nadu, Krishnapatnam in Andhra Pradesh and Tumkur in Karnataka to be completed. • Perspective plan for the Bengaluru Mumbai Economic corridor (BMEC)and Vizag-Chennai corridor to be completed with the provision for 20new industrial clusters. • Development of industrial corridors with emphasis on Smart Cities linked to transport connectivity to spur growth in manufacturing and urbanization will be accelerated. • Proposed to establish an Export promotion Mission to bring all stakeholders under one umbrella. • Apprenticeship Act to be suitably amended to makeit more responsive to industry and youth. MicroSmall andMediumEnterprises (MSME) Sector • Skill India to be launched to skill the youth with an emphasis on employability and entrepreneur skills. • Committee to examine the financial architecture for MSME Sector, remove bottlenecks and create new rules and structures to be set up and give concrete suggestions in three months. • Fund of Funds with a corpus of 10000 crore rupees for providing equity through venture capital funds, quasi equity, soft loans and other risk capital specially to encourage new startups by youth to be set up. • Corpus of 200 crore rupees to be set up to establish Technology Centre Network. • Definition of MSME to be reviewed to provide for ahigher capital ceiling. • Programme to facilitate forward and backward linkages with multiple value chain of manufacturing and service delivery to be put in place. • Entrepreneur friendly legal bankruptcy framework will be developed for SMEs to enable easy exit. • A nationwide District level Incubation and Accelerator Programme to be taken up for incubation of new ideas and necessary support for accelerating entrepreneurship. Textiles ________ • 50 crore rupees is provided to set up aTrade Facilitation Centre and a Crafts Museum to develop and promote handloom products and carry forward the rich tradition of handlooms of Varanasi. • Sum of 500 crore rupees for developing aTextile mega-cluster at Varanasi and six more at Bareilly, Lucknow, Surat, Kutch, Bhagalpur and Mysore. • 20 crore rupees to set up aHastkala Academy for the preservation, revival, and documentation of the handloom or handicraft sector in PPP mode in Delhi. • 50 crore rupees is provided to start aPashmina Promotion Programme (P-3) and development of other crafts of Jammu & Kashmir. UNION BUDGET 2014-15: ENERGY SECTOR In his maiden budget, the Union Finance Minister announced certain major plans related to Energy sector. Plans announcedfor the energy sector inthe budget2014-15 are Energy _______ • 100 crore is allocated for a new scheme “Ultra-Modern Super Critical Coal Based Thermal Power Technology” • Comprehensive measures for enhancing domestic coal production are being put in place • Adequate quantity of coal will be provided to power plants which are already commissioned or would be commissioned by March 2015 • An exercise to rationalize coal linkages to optimize transport of coal and reduce cost of power is underway New &Renewable Energy _________________________ • 500 crores provided for Ultra Mega Solar Power Projects in Rajasthan, Gujarat, Tamil Nadu, Andhra Pradesh and Laddakh • 400 crores provided for a scheme for solar power driven agricultural pump sets and water pumping stations • 100 crore provided for the development of 1 MW Solar Parks on the banks of canals • A Green Energy Corridor Project is being implemented to facilitate evacuation of renewable energy across the country Petroleum & Natural Gas _________________________ • Production and exploitation of Coal Bed Methane reserves will be accelerated • Possibility of using modern technology to revive old or closed wells to be explored • Usage of PNGto be rapidly scaled up in aMission mode • Proposal to develop pipelines using appropriate PPP models UNION BUDGET 2014-15: EMPLOYMENT AND SKILL DEVELOPMENT In his maiden budget, the Union Finance Minister announced certain major plans for employment generation and Skill development in the budget. The Finance Minister has emphasized on skill development and entrepreneurship in the budget. ☆ Plans announcedfor Employment and Skill inthe budget2014-15 are • A programme for the upgradation of skills and training in ancestral arts for development for the minorities “Up gradation of Traditional Skills in Arts, Resources and Goods” to be launched • Skill India to be launched to skill the youth with an emphasis on employability and entrepreneur skills • A nationwide “District level Incubation and Accelerator Programme” to be taken up for incubation of new ideas and necessary support for accelerating entrepreneurship • Employment exchanges to be transformed into career centres and for this asum of 100crore has been provided • More productive, asset creating and with linkages to agriculture and allied activities wage employment would to be provided under MGNREGA • Start up Village Entrepreneurship Programme for encouraging rural youth to take up local entrepreneurship programs with an outlay of 100 crore rupees to be launched UNION BUDGET 2014-15: WOMEN AND CHILD DEVELOPMENT The Union Budget allocated finance for safety for women in transport in large cities. A new scheme Beti Bachao, Beti Padhao Yojana launched to create awareness and improve the efficiency of delivery of welfare services for women. Highlights __________ • Outlay of 50 crores rupees for pilot testing a scheme on Safety for Women on Public Road Transport. • Sum of 150 crores rupees on ascheme to increase the safety of women in large cities. • Crisis Management Centres to be set up in all the government and private hospitals of the districts of NCTof Delhi in 2014-15. • A sum of 100 crore rupees is provided for Beti Bachao, Beti Padhao Yojana, a focused scheme to generate awareness and help in improving the efficiency of delivery of welfare services meant for women. • School curriculum to have aseparate chapter on gender mainstreaming. PINKY ANAND APPOINTED ASG Senior Advocate Pinky Anand has been appointed Additional Solicitor-General in the Supreme Court. She is the second woman lawyer to be appointed ASG after senior advocate Indira Jaising. MONSOON: CENTRE READY WITH CONTINGENCY PLAN The Centre is fully geared up to meet any eventuality arising from deficient southwest monsoon. The government is ready with a contingency plan for 500 districts. It has held meetings with 12 States and advised them to arrange short-duration seeds, fertilizers, water and power to tide over the situation. To meet additional requirement for power, the Agriculture Ministry requested the Power Ministry to arrange for 400 MW in the northern region, 1,000MW for States which were dry and 3,000MW for the southern region. ______________________________________________________
Posted on: Sat, 12 Jul 2014 18:35:49 +0000
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