Important Current Affairs 1st February 2020

Union Budget 2020-21 is being presented by FM Nirmala Sitharaman

Union Budget 2020 presented by Finance Minister Nirmala Sitharaman to revive economic growth and boost people's income. The Budget is based on three themes :
Aspirational India
Economic development
Caring society

Union Budget 2020 was presented by Finance Minister Nirmala Sitharamanin, a bid to revive economic growth and boost people's income. The Budget is based on three themes - aspirational India, economic development for all, and caring society. The Finance Minister began her speech by saying that the Budget 2020-21 is for boosting income and improving the purchasing power of people. The fiscal deficit is estimated at 3.8 percent(revised estimate for 2019-20)of the gross domestic product in the current financial year, and the government aims to lower it to 3.5 percent (budget estimate for 2020-21) in the fiscal year ending March 2021. She proposed Rs 69,000 crore to the healthcare sector and Rs 12,300 crore to Prime Minister Narendra Modi's flagship cleanliness program Swachh Bharat Mission. Finance Minister earmarked another Rs 3.6 lakh crore towards the supply of piped water to households.

Highlights Of Union Budget 2020:
The income tax for those earning between Rs 5 lakh and Rs 7.5 lakh will be cut to 10 percent from 20 percent. The income tax for those earning between Rs 7.5 and Rs 10 lakh will be cut to 15 percent from 20 percent. The income tax for those earning between Rs 10 and Rs 12.5 lakh will be cut to 20 percent from 30 percent.The income tax for those earning between Rs 12.5 lakh and Rs 15 lakh will be cut to 25 percent from 30 percent. 30 percent tax rate will still be applicable for those earning above Rs 15 lakh. There will be no tax for those earning Rs 5 lakh and Rs 690 billion will be spent on healthcare spending.

Village Storage Scheme
•    Women, SHGs to regain their position as Dhaanya Lakshmi.NABARD to map and geo-tag agri-warehouses, cold storages, reefer van facilities, etc.
•    Warehousing in line with Warehouse Development and Regulatory Authority (WDRA) norms:
•    State governments who undertake the implementation of model laws (issued by the Central government) to be encouraged.
•    Livestock:
o    Doubling of milk processing capacity to 108 million MT from 53.5 million MT by 2025.
o    Artificial insemination to be increased to 70% from the present 30%.
o    MNREGS to be dovetailed to develop fodder farms.
o    Foot and Mouth Disease, Brucellosis in cattle and Peste Des Petits ruminants (PPR) in sheep and goat to be eliminated by 2025.

Deen Dayal Antyodaya Yojana 
Around 0.5 crore households mobilized with 58 lakh SHGs for poverty alleviation.

Education and Skills
•    New Education Policy to be announced soon.
•    National Police University and National Forensic Science University proposed for policing science, forensic science, and cyber-forensics.
•    Degree level full-fledged online education program by Top-100 institutions in the National Institutional Ranking Framework.
•    Up to 1-year internship to fresh engineers to be provided by Urban Local Bodies.
•    The budget proposes to attach a medical college to an existing district hospital in PPP mode.
•    Special bridge courses to be designed by the Ministries of Health, and Skill Development

TRANSPORT
•    100 more airports are planned by 2024
•    Over 6,000 km of highways in 12 lots will be monetized by 2024
•    One major airport will be privatized

16-POINT ACTION PLAN FOR FARMERS
The government is committed to doubling farmers' income by 2022 to allocate Rs 2.83 lakh crore for agriculture and rural sectors such as irrigation.
•    Schemes that encourage manufacturing of mobile phones, electronic equipment, and semiconductor packaging be introduced
•    Private sector to build Data Centre Parks throughout the country will be encouraged
•    80 billion rupees over five years to be provided for quantum technologies and applications
•    Milk processing capacity to be doubled by 2025.

National 

ISRO readying for low cost satellite launch vehicles

•    The Indian Space Research Organisation is readying low-cost satellite launch vehicles costing about Rs 30-35 crore each, which can put into orbit satellites weighing 500 kg.
•    The first such launch from the country is expected to take place in the next four months.
Flame-Throated Bulbul ‘Rubigula’ Unveiled as Official mascot for National Games 2020 in Goa
•    The 36th edition of the National Games of India will be held from 20 October to 4 November 2020 in Goa.
•    The official mascot for the Goa 2020 National Games was unveiled on 01 February 2020 by the Chief Minister of Goa Pramod Sawant in the presence of Union Minister of Youth Affairs and Sports Kiren Rijiju.
•    The Flame-Throated Bulbul under the name ‘Rubigula’ has been unveiled as the mascot for the event.
•    The Flame-Throated Bulbul is the state bird of Goa.

Appointment

M Ajit Kumar Appointed as New Chairman of CBIC
•    The Central government has appointed M Ajit Kumar as the Chairman of the Central Board of Indirect Taxes and Customs (CBIC) on 31 January 2020. Mohammad Allawi Named as new PM of Iraq
•    The President of Iraq Barham Saleh has named former Communication Minister,

Mohammad Allawi as the country’s new Prime Minister on 1st February 2020.

Abidali Neemuchwala Steps Down as CEO and MD of Wipro
•    The chief executive officer (CEO) and managing director (MD) of Wipro, Abidali Z Neemuchwala has quit the post, giving “family commitments” as the reason behind the decision. Indian-origin Arvind Krishna to Succeed Ginni Rometty as IBM Chief

Indian-origin Arvind Krishna has been appointed as the new Chief Executive Officer (CEO) of American multinational IT company International Business Machines Corporation (IBM).
•    The 57-year-old will succeed long time CEO Ginni Rometty.