The Hindu notes-February 2 2017

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DATE 02.02.2017


New lost continent found in indian ocean

  • New lost continent found near Mauritius Island that was part of the indian plate but lost due to breaking of the Gondwana plate about 200 million year ago.

  • This continent include zircon metal which is part of the uranium and thorium component


Funding to the political party

  • Earlier political funding up to 20000 not mandatory for the donator to disclose name and sources

  • According to new rule now this limit tend to 2000 and more than this limit to be disclosed

  • More than 2000 donation to be only done by the digital form or cheque


Small wonder : general budget

  • Finance minister Arun Jaitley has presented budget with workmanlike style in which fiscal discipline matter more.

  • Traditional populist policy trend of budget this year turning into moderating affect

  • Finance minister use word FUTURE means F stand for farmer, U stand for unprivileged, T stand for technology and transparency, U stand for urban development, R stand for rural development, E stand for employment

Tax rate changes

  • In the budget speech finance minister arun jaitley give some relief to middle class person.

  • Income tax slab from 2.5 lakh to 5 lakh is being taxed at the rate of the 10 % but this changes bought with 5 % decrease in tax rate.

  • Now this slab will be taxed with only 5 % this have both side effect i.e.

  1. middle class have more money to spend and invest.

  2. narrow tax rate with narrow tax base will lead to deterioration of the government resources.

Housing and infrastructure sector in the budget

  • in the general budget government launched two new thing in this sector to boost basic infrastructure and fulfillment of the SDG.

  • housing sector will be developed on the bases of the housing for all by 2022 with separate focus on the rural and urban area.

  • pradhan mantri aawas yojna to have pucca house to 1 crore household by 2019 in rural area.

  • infrastructure quality now on good stage so in near future government will established special agency for infrastructure trade and exporting.

Government to amend cooperative societies act.

  • Nowadays cases of the fraud in the investment scheme by the cooperative getting momentum.

  • This scheme fraud getting benefit from the old cooperative societies act. Which have some loophole.

  • This new act have objective to save hard earned money of the marginal poor section of the people who are the target of this societies.

  • Government to abolish FIPB

  • In this budget government take more liberal step toward foreign investment and declare to abolish foreign investment promotion board.

  • FIPB is statutory body to give permission to the GDI in the sector which have provision of the approval route.

  • This board come under prime minister office as a part of the economic reform drive in 1990’s era.

  • Now foreign investor can fill form online and more than 90 % investment now under automatic route regime.

Education in budget speech

  • Sector and standard wise innovative provision has been made by the Arun jaitley.

  • Primary education output to be examined by the survey to have qualitative changes in education.

  • University education to be more flexible to provide chance for the innovation.

  • There will be flexible curriculum to provide creativity freedom to student and this freedom and flexibility to be given of the basis of the ranking of institute in academic performance.

Agriculture sector in budget

  • Crop insurance scheme span to be widened with help of pradhan mantri fasal bima yojna which also include post harvest loses.

  • NABARD to more efficiency in the micro irrigation development for the purpose of farmer income doubling and water conservation.

  • e-NAM to be developed on the basis of national span and include more and more market in it.

Railways in budget

  • This year railway budget being merged into general budget by ending year old colonial practices.

  • Above stated four major step has been taken by the government to make indian railway preferred freight carrier.

    Review on budget by T.T. Ram Mohan

  • General discussion and forecasting were bring done on two bases first on government will give good stimulus because of the demonetization or budget will be slight populist to capture voter in upcoming election.

  • This budget is like “don’t rock the boat” because india is till bright spot among worlds and will be though instability looming over world.

  • Fiscal deficit plan become ideal this year because government have cut revenue part to meet with target. That was earlier done with capital part of budget.

  • This budget also break tradition of the populist budget by not waiving loan to farmer, no transfer to jan dhan account, no universal basic income declaration.

  • Domestic economy hit by the demonetization led to submergence of the local demand while global trend going toward nativism and protectionism trend that’s not attracting for indian economy.

Eating litchis can killed children

  • Study of the indian and US research found that children eating litchis and skipping their evening food are most vulnerable due to brain impairment by the extreme lower level of the glucose.

  • Litchis is summer fruit of the north india and when children eat it and skip their evening meal that led to lower blood glucose level and coma situation because children have less glucose and hepatic reserve.

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