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Current Affairs (17 Feb-5
Budget Highlights
th
March 2016)
The total budget size has been estimated to be Rs 19.78 Lakh Crore with non-plan expenditure kept at Rs
14.28 lakh Crores. The Government has set its pre-announced fiscal deficit target to 3.5% of
GDP.
1Allocation
Fund
Total outlay for infrastructure - Rs. 221,246crore
2
Allocation for Agriculture and Farmers welfare is Rs. 35,984 crore
Allocation for social sector including education and health care Rs.1, 51,581 crore.
Allocation
forentrepreneur
skill development
Rs. 1804 crore. This includes training through Massive Open Online
Courses
and
education.
Allocation for rural sector - Rs. 87,765 crore. A sum of Rs 38,500 is allocated towards
Mahatma Gandhi Rural Employment Guarantee Scheme(MNREGS)
1 Policy Decisions
Major
National
Pension
System
(NPS)
which was
earlierfrom
taxable
maturity,
nowgoes
been
tax be
exempt.
NPS will
have 40%
of maturity
exempt
tax. on
Annuity
fundhas
which
tomade
legal partially
heir will
not
taxable
TDS(Tax
Deducted
at
Source)
-Taxes
TDS is as
a means
of
indirect
tax
collection
and isto
managed
byand
the
Central
of Direct
such
as salary,
from
banks
of
amount
withheld
source
The
government
has lotteries
decided
impose
a TDS
atpayment
1 %been
on Board
the
purchase
of
luxury(CBDT).Incomes
cars
costing
more
than
10lakh
whereas
TDS on
lotteries
has
reduced
tois5%.
metro cities and 60 sq. meters in other cities
The government has decided to bring back General Anti-Avoidance rules(GAAR) from 1April 2017
deserving. This will allow easy access for financial transaction.
100%
India. FDI to be allowed through FIPB route in marketing of food products produced and manufactured in
60% of
Employees
Provident
done
to the
bring
EPF on par with
NPS. Fund (EPF) withdrawals has been made taxable. This has been
The Dividend
Distribution
of 10%
has
been
levied on income above 10 Lakh. This is in addition to the
28.84%
that the
company Tax
already
pays
for
its employees.
Start-ups will get 100% rebate on profits announced by them for 3 years
1035.54%,The
maximum
marginal
which
was earlier
34.6%.income
CESS
1
tax rate that will be applicable to super-rich will now be
Infrastructure cess, of 1% on small petrol, LPG, CNG cars, 2.5% on diesel
cars of certain capacity and 4% on other higher engine capacity vehicles and SUVs
2
Krishi Kalyan Cess of 0.5% on all taxable services.
3
Clean Energy Cess levied on coal, lignite and peat renamed to Clean
Environment Cess and rate increased from
Rs. 200 per tonne to Rs. 400 per tonne.
Business
h
Associate
1 s Cement
. Plants?
W
h Answer:
i UltraTech
c Cement
h Explanat
c
ion:
e
UltraTech
m
Cement,
e
n the
t largest
mcement
a company
j of India
o owned by
r Aditya
h Birla
a Group has
s acquired
r JP cement
e for a sum
c of Rs
e 16500
n Crores.
tl The deal
y will help
a
UltraTech
c
to access
q
cement
u
ir plants in
e Madhya
d Pradesh,
J Uttar
a Pradesh,
i Himachal
p Pradesh,
r Uttarakha
a nd,
k Andhra
a Pradesh
s and
K nks Board
a Bureau?
r Answer:
n Vinod Rai
a
t Explanati
a on: Vinod
k Rai, along
a with Anil K.
. Khandelwal
, Rupa
2 Kudwa and
. HM Sinor,
Whas been
h elected as
o the
h chairman
a of the BBB.
s
He was the
b
former
e
e Comptrolle
n r and
a Auditor
p General
p (CAG) of
o India. BBB
i will take
n over the
t process to
e appoint
d full-time
a
directors
s
and nont
h executive
e chairmen
c in stateh owned
a banks, and
ir is aimed at
minfusing
a efficiency
n and
o transparen
f cy in the
B
sector.
a
e first
ever
auction of
Indian
Gold
mine?
Answer:
Vedanta
Limited
Explana
tion:
The
3 acquired
. mine
Wsituated
h in Baloda
i bazaarc Bhata
h Para
I district
n of
d Chattisg
i
arh, It is
a
n one of
c the
o oldest
mexplode
p deposits
a of
n precious
y metal in
h central
a India.
s Vedanta
r
Group,
e
led by
c
e Anil
n Agarwal
tl was
y formerly
wknown
o as Sesa
n Goa
t Limited
h and is
o natural
n resource
e majors.
o
4. Who
f
has been
ranked as
t the
h Indias
e richest
billionaire
w as per the
o 2016
r Forbes
l list of
d World
' Billionaire
s?
s
Answer:
l Mukesh
a Ambani
r Explana
g tion: Out
e of the 27
s billionair
in
t es
India,
Mukesh
g
Ambani
l has been
o ranked
b 1st with a
a net worth
l of $19.3
Billion.
d The
i world list
v was
e topped
by
Bill
r
Gates
s with net
i worth of
f $
75
i Billion
e followed
d by
Amancio
O,
the
r founder
t of Inditex
e Group
g (Zara
a Brand).
5. Which company in India has topped the CSR spending?
Answer: Reliance Industries
Explanation: Reliance Industries led by Mukesh Ambani, has emerged as the top
company in terms of CSR spending. Reliance industries shelled out Rs. 760 Crore on
CSR. ONGC ranks second on the list with a spending of Rs. 495 crore. In Companies Act
it is mandatory for companies to set aside 2 percent of their 3 year average annual net
profit.
International Affairs
6. Which international organization has recently launched its first Uridashi
Masala bonds?
Answer: International Finance Corporation
Explanation: IFC, a member of the World Bank Group, launched its first Uridashi Masala
Bond, mobilizing
300 million rupees (or $4.3 million) directly from Japanese household investors to
promote private sector development in India. Masala bonds are rupee-denominated
instruments sold only to offshore investors, while Uridashi bonds are sold to Japanese
household investors.
th
7. Which movie has been awarded the best picture award at the 88 Annual
Academy Awards 2016? Who has been chosen the best actors among male
and female category?
Answer: Spotlight
Explanation: Based on Boston Globes investigation into priest-abuse, Mark Ruffalo
starrer Spotlight has been awarded as the best film. It is directed by Tom Maccarthy.
Leonardo Di Caprio has been awarded as the best actor for his performance in
Revenant. Di Caprio portrays Hugh Glass, a 19th-century American frontiersman
who is left for dead by his comrades after being mauled by a bear during a winter
th
expedition. This was his 6 Academy Award nomination.
Brie Larson has been awarded the Best Actress for her Drama-Thriller Room.
Sports
as the
new
preside
8
nt of
.
The
W
Fdrati
h
on
o
Internat
ionale
h
de
a
Football
s
Associat
r ion
e(FIFA)?
c
eAns:
nGianni
t Infantin
lo
yExplan
ation:
bAfter the
e
forced
e
resignati
n
on of
eSepp
l Blatter
edue to
callegatio
t ns of
ecorrupti
don,
GA for a
i period
aof 3 yrs.
nGianni
ngot
i decisive
majority
I ahead of
nSheikh
f Salman
aof
nBahrain.
t
i
n
o
h
a
s
b
.
e
e9.
nWhich
Indian
eShooter
l won
eGold in
cShootin
t g World
eCup
recently
d
?
aAnswer:
s Jitu Rai
Explana
t
tion:
h
India's
e
Jitu Rai
beat a
F
strong
I
field to
F
wm pistol
i event of
nshooting
World
gCup. Jitu
oscored
l 191.3
dpoints in
the final
i round.
nFormer
World
t and
hOlympic
echampio
n Pang
mWei of
eChina
ntook
' second
s place
5with
0186.5.
10. Who scored the fastest hundred in Test Match cricket recently?
Answer: Brendon McCullum
Explanation: Former New Zealand Wicketkeeper-Captain-Batsman blasted a 54-Ball
st
century against Australia in his 101 and final test match. By doing so, he broke the
previous record of 56-Ball by Vivian Richards and Misbah-Ul-Haq. McCullum retired from
all international Cricket on 24 February 2016.
Miscellaneous
11.Who is the newly appointed chairman of the GST panel?
Answer: Amit Mitra
Explanation: Amit Mitra, West Bengal finance minister was appointed as the
chairman of the Goods and Services (GST) Panel. He will succeed Kerala finance
minister K M Mani. The panel is tasked with framing rules for rollout of GST.
12. What is Indias ranking in terms of energy security published by World
Economic Forum?
Ans: 90
th
th
Explanation: India has been ranked at the 90 placed among 126 countries which
were rated on parameters like affordability, environmental sustainability, security and
access. The list is topped by
Switzerland. Among the BRIC nations Brazil tops the list.
