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Why in the News? The Finance Minister announces a new scheme for bio-manufacturing and bio-foundry in the interim Budget speech. About the Scheme: Aims to promote eco-friendly alternatives like biodegradable polymers, bio-plastics, pharmaceuticals, and agricultural inputs. Part of the strategy to boost India’s bio-economy, targeting a $300 billion contribution by 2030, aligning with sustainability and …
Read MoreWhy in the News? ASHA and anganwadi workers will now receive health cover under Ayushman Bharat, aiming to enhance healthcare accessibility for grassroots health workers. The Interim Budget increases the allocation to the Health Ministry to ₹90,658.63 crore, with additional funding for the Ayush Ministry. Health Sector Enhancements: The U-WIN platform for managing immunization and …
Read MoreWhy in the News? The Centre reduces fertilizer subsidies, citing improved conditions in Ukraine and higher domestic production. The Fertilizer Department’s allocation for the Budget is ₹1,64,150.81 crore, down from ₹1,75,148.48 crore in the previous year. Source: IE Key Highlights: Food subsidy allocation rises, including ₹2,05,250 crore for PM-GKAY and ₹1 lakh crore for Sugar …
Read MoreWhy in the News? The Interim Budget earmarks ₹86,000 crore for the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), up by ₹26,000 crore from the previous year. However, this matches the revised estimates for the ongoing financial year, potentially resulting in no net gain for the scheme Source: GeeksforGeeks Key Highlights: MGNREGS expenditure is …
Read MoreWhy in the News? Finance Minister Nirmala Sitharaman announced the establishment of a high-power committee during her interim Budget speech. This committee’s primary focus will be to examine the challenges stemming from rapid population growth and demographic shifts. Source: ORF About the Committee: Committee Aims: Aims to offer comprehensive solutions for addressing challenges effectively. Raised …
Read MoreSyllabus: GS 3 : Government Budgeting Why in the News ? The Interim Budget for 2024-25 was presented with a focus on electoral campaigning, evident from Prime Minister Modi’s statement regarding the timing of presenting the budget. An interim Economic Survey titled “The Indian Economy: Review” provided a retrospective analysis of economic development, highlighting the …
Read MoreSyllabus: GS 1 : Issues related to Women and Migration. Focus: An important part of India’s socioeconomic dynamics is internal migration, yet women’s experiences are frequently overlooked in favour of male migrants. Internal migration is estimated by the Periodic Labour Force Survey (PLFS) to be 27% between June 2020 and June 2021, underscoring its importance. …
Read MoreNews The Indian Air Force will hold the mega exercise Vayu Shakti 2024 on the Pokharan Range in Jaisalmer on the 17th February, 2024. About the Exercise The Air Force will focus on interoperability and maneuvering to showcase its air fighting and operational capabilities during the exercise; Air Marshal A P Singh told the New …
Read MoreUnderstanding the Budget Constitutional Reference: Article 112: Budget is termed as the “Annual Financial Statement” in the Indian Constitution. The word ‘Budget’ itself is not mentioned in the Constitution. Definition and Composition: Divided into: Revenue Budget: Includes Tax and Non-Tax revenue receipts and expenditure. Capital Budget: Comprises capital receipts and payments. Preparation Process: Responsible Body: …
Read More@PIB – FILE PICS News The fourth Khelo India Winter Games will begin on 2nd February, 2024 in Leh, Ladakh. News Elaboration The five-day event in Leh will be inaugurated by Union Minister Nisith Pramanik and the Union Territories of Ladakh and Jammu and Kashmir are co-hosting this edition, which is divided into two sections. …
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