General Budget 2015- 16 | Highlights | Current Affairs

Sunday, March 1, 2015

General Budget 2015 was presented on 28th February, 2015 by Hon'ble Finance Minister Mr. Arun Jaitley.

Some Highlights of the General Budget are as follows:
  • No change in tax slabs.
  • Total exemption of up to Rs. 4,44,200 can be achieved.
  • 100% exemption for contribution to Swachch Bharat, apart from CSR.
  • Service tax increased to14 per cent.
  • Additional 2% surcharge for the super rich with income of over Rs. 1 crore.
  • Rate of corporate tax to be reduced to 25% over next four years.
  • Abolition of Wealth Tax.
  • Rs. 25,000 crore for Rural Infrastructure Development Bank.
  • Rs. 5,300 crore to support Micro Irrigation Programme.
  • Farmers credit - target of 8.5 lakh crore.
  • Rs. 70,000 crores to Infrastructure sector.
  • Tax-free bonds for projects in rail road and irrigation
  • PPP model for infrastructure development to be revitalised and govt. to bear majority of the risk.
  • Atal Innovation Mission to be established to draw on expertise of entrepreneurs, and researchers to foster scientific innovations; allocation of Rs. 150 crore.
  • Govt. proposes to set up 5 ultra mega power projects, each of 4000MW.
  • AIIMS in Jammu and Kashmir, Punjab, Tamil Nadu, Himachal Pradesh, Bihar and Assam.
  • IIT in Karnataka; Indian School of Mines in Dhanbad to be upgraded to IIT.
  • PG institute of Horticulture in Amritsar.
  • Kerala to have University of Disability Studies
  • Centre of film production, animation and gaming to come up in Arunachal Pradesh.
  • IIM for Jammu and Kashmir and Andhra Pradesh.
  • Allocation of Rs. 2,46,726 crore; an increase of 9.87 per cent over last year.
  • Focus on Make in India for quick manufacturing of Defence equipment.
  • GST and JAM trinity (Jan Dhan Yojana, Aadhaar and Mobile) to improve quality of life and to pass benefits to common man.
  • Six crore toilets across the country under the Swachh Bharat Abhiyan.
  • MUDRA bank will refinance micro finance orgs. to encourage first generation SC/ST entrepreneurs.
  • Housing for all by 2020.
  • Upgradation 80,000 secondary schools.
  • DBT will be further be expanded from 1 crore to 10.3 crore.
  • For the Atal Pension Yojana, govt. will contribute 50% of the premium limited to Rs. 1,000 a year.
  • New scheme for physical aids and assisted living devices for people aged over 80 .
  • Govt. to use Rs. 9,000 crore unclaimed funds in PPF/EPF for Senior Citizens Fund.
  • Rs. 5,000 crore additional allocation for MGNREGA.
  • Govt. to create universal social security system for all Indians.
  • Rs. 75 crore for electric cars production.
  • Renewable energy target for 2022: 100K MW in solar; 60K MW in wind; 10K MW in biomass and 5K MW in small hydro
  • Develpoment schemes for churches and convents in old Goa; Hampi, Elephanta caves, Forests of Rajasthan, Leh palace, Varanasi , Jallianwala Bagh, Qutb Shahi tombs at Hyderabad to be under the new toursim scheme.
  • Visa on Arrival for 150 countries.
  • Sovereign Gold Bond, as an alternative to purchasing metal gold.
  • New scheme for depositors of gold to earn interest and jewellers to obtain loans on their metal accounts.
  • To develop an Indian gold voin, which will carry the Ashok Chakra on its face, to reduce the demand for foreign coins and recycle the gold available in the country.
  • Forward Markets Commission to be merged with the Securities and Exchange Board of India
  • NBFCs registered with the RBI and having asset size of Rs 500 crore and above to be considered as ‘financial institution’ under Sarfaesi Act, 2002, enabling them to fund SME and mid-corporate businesses
  • Permanent Establishment norms to be modified to that mere presence of offshore fund managers in the country does not lead to “adverse tax consequences.”

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Rail Budget 2015- 16 | Highlights | Current Affairs

Railway Budget 2015- 2016 was presented on 26th February, 2015 by Hon'ble Railways Minister Mr Suresh Prabhu.

Salient features of the Rail Budget are as follows:
  • Rs.8.5 lakh crore will be invested in Railways in next 5 years.
  • No increase in passsenger rail fares.
  • Bio toilets and airplane-type vaccum toilets in trains.
  • 'Operation 5 mins', wherein passengers travellling unreserved can purchase a ticket in 5 minutes.
  • Surveillance cameras in select coaches and ladies compartments for women's safety without compromising on privacy.
  • Facility of online booking of wheelchair for senior citizens.
  • Rail tickets can now be booked 120 days in advance.
  • Speed on nine railway corridors to go up to 200 km per hour.
  • Wi-Fi in more stations, mobile phone charging facilities in all train compartments.
  • Satellite railway terminals in major cities.
  • Centrally managed Rail Display Network is expected to be introduced in over 2K stations over the next 2 years.
  • All india 24/7 helpline - 138 from March 2015 ; Toll free No.182 for security.
  • 917 road under-bridges and over-bridges to be constructed to replace 3,438 railway crossings; at a cost of Rs. 6,581 crore.
  • Four Railway Research Centres to start in four universities.
  • Fast-track sanctioned works on 7,000 kms of double/third/fourth lines
  • Commissioning 1200 km in 2015-16 at an investment of Rs. 8,686 crore, 84% higher Y-O-Y
  • Award of 750 km of civil contracts and 1300 km of system contracts in 2015-16 on Dedicated
  • Freight Corridor (DFC); 55 km section of Eastern DFC to be completed in the current year.
  • De-congesting networks with basket of traffic-generating projects will be the priority
  • Priority to last-mile connectivity projects
  • Commissioning 800 km of gauge conversion targeted in current fiscal.
  • 77 projects covering 9,400 km of doubling/tripling/quadrupling works along with electrification, covering almost all States, at a cost of Rs. 96,182 crore, which is over 2700% higher in terms of amount sanctioned.
  • Traffic facility work is a top priority with an outlay of Rs. 2374 crore .
  • Preliminary engineering-cum-traffic survey (PETS) for four other DFCs in progress.
  • Acceleration of pace of Railway electrification: 6,608 route kilometers sanctioned for 2015-16, an increase of 1330% over the previous year.

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Model Answers | Madhya Pradesh Higher Judicial Service (Pre) Exam 2015

Friday, February 27, 2015

High Court of Madhya Pradesh has published the Model Answers of the questions of Online Preliminary Examination for Madhya Pradesh Higher Judicial Service (Entry Level) (Direct Recruitment from Bar) Exam 2015.

The Preliminary Examination for Madhya Pradesh Higher Judicial Service (Entry Level) (Direct Recruitment from Bar) Exam 2015 was held on 22.02.2015. Model Answers are available at the official website of the High Court of Madhya Pradesh.

For further details and the notice, visit the link below-

For Question Paper with Proposed Model Answers of MP HJS Online Preliminary Exam-2015, visit the link below- 

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Key Answer | Uttarakhand Civil Judge (J.D.) Preliminary Examination 2014

Uttarakhand Public Service Commission has uploaded the Key Answers of Uttarakhand Civil Judge (Junior Division) (Preliminary) Examination 2014.

Preliminary Examination for Uttarakhand Civil Judge (Junior Division) Exam 2014 were held on 15th February 2015. Key Answers of Uttarakhand Civil Judge (Junior Division) (Preliminary) Examination 2014 has uploaded at the official website of Uttarakhand Public Service Commission.

For the full Notification & Key Answers, visit the link below- 

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Answer Key | Uttarakhand PCS(J) (Pre) Exam 2014 Notification

Thursday, February 26, 2015

Uttarakhand Public Service Commission will be uploaded the Key Answers of Uttarakhand Civil Judge (Junior Division) (Preliminary) Examination 2014.

Preliminary Examination for Uttarakhand Civil Judge (Junior Division) Exam 2014 were held on 15th February 2015. Key Answers of Uttarakhand Civil Judge (Junior Division) (Preliminary) Examination 2014 will be uploaded on 27th February, 2015 at the official website of Uttarakhand Public Service Commission.

For the full Notification, visit the link below- 

Answer Key | Uttarakhand PCS(J) (Pre) Exam 2014 NotificationSocialTwist Tell-a-Friend

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