TELANGANA

Contrary to the expectations that Telangana’s vote-on-account budget for 2019-20 will exceed ₹2 lakh crore.

Of the total outlay, revenue expenditure is estimated at ₹1,31,629 crore and the capital expenditure – ₹32,815 crore with a revenue surplus of ₹6,564 crore. The estimated fiscal deficit is ₹27,749 cr., amounting to 2.81% of GSDP and within the FRBM norm of 3%. Presenting the vote-on-account budget.

Major allocations

The major welfare spend allocations in the budget are ₹12,000 crore for Rythu Bandhu investment support to farmers which will be increased from ₹8,000 to ₹10,000 an acre in a year, ₹650 crore for Rythu Bbhima , ₹6,000 crore towards waiver of farm loans up to ₹1 lakh as on December 11, 2018.
Irrigation sector including Mission Kakatiya got the highest allocation of ₹22,500 crore followed by agriculture sector ₹20,107 crore, , health sector ₹5,536 crore, Food subsidy ₹2,744 crore towards supply of ₹1 kg rice under Public Distribution Scheme.
Under the Special Development Fund, ₹16,581 crore for SCs, and ₹9.827 crore for STs have been proposed with the provision to carry forward unspent balance of funds allocated in a year to next year under the legislation passed by the State, ₹2,400 crore for minority welfare, ₹1,000 crore for Most Backward Classes.

INTERNATIONAL

The index has been prepared by the Economist Intelligence Unit (EIU) for Facebook.

The index was expanded to include 100 countries which will represent 94% of the world’s population and 96% of global GDP.

NATIONAL

National Science Day is celebrated on February 28 every year to remember Nobel laureate Sir C V Raman’s contribution to the field of science.

The objective of observation of National Science Day is to spread the message of importance of science and its applications among the people.

The theme for this year’s Science Day is ‘Science for the People and the People for Science’.

For his discovery, Sir C.V. Raman was awarded the Nobel Prize in Physics in 1930.

Union HRD Minister launches the Scheme for Higher Education Youth in Apprenticeship and Skills (SHREYAS)

The Minister for Human Resources Development, Shri Prakash Javadekar has launched the Scheme for Higher Education Youth in Apprenticeship and Skills (SHREYAS) in New Delhi.
The scheme will provide industry apprenticeship opportunities to the general graduates exiting in April 2019 through the National Apprenticeship Promotional Scheme (NAPS).

The program aims to enhance the employability of Indian youth by providing on the job work exposure’ and earning of stipend.

SHREYAS portal will enable educational institutions and industry to log in and provide their respective demand and supply of apprenticeship.

· First Indian made Centaur rocket was successfully launched at Thumb, Kerala

The first Indian-made Centaur rocket was successfully launched from the Thumba equatorial rocket station, Kerala on 26th February 2019 to the great jubilation of a large number of scientists.
Vikram Sarabhai, Chairman of the Atomic Energy Commission and Indian National Committee for Space Research, described that the flight of the two-stage sounding rocket as very satisfactory. It was a hailed as a momentous event. India is now on the path to long-range development of superior rockets, which will take us to the goal of satellite launching in five years.

In the special mission, Indian Space Research Organisation (ISRO) will also launch 28 third-party satellitesand will demonstrate its new technologies like three different orbits with a new variant of ‘Polar Satellite Launch Vehicle’ (PSLV) rocket in March, 2019.
Electronic intelligencesatellite ‘Emisat’ of Defence Research and Development Organisation (DRDO) weighs about 420 kg.
After launching Emisat at an altitude of 763 km, the PSLV rocket will be brought down to put the remaining 28 satellites into orbit at an altitude of 504 km.

The government detected Goods and Services Tax (GST) evasion of around Rs 20,000 crore between April 2018 and February 2019.
Out of this, ₹10,000 crore has been recovered.
Currently, GST has 4-tier slab of 5, 12, 18 and 28 per cent, while essential items are zero rated.

GST is a consumption based tax levied on sale, manufacture and consumption on goods & services at a national level.

Over 1,300 goods and 500 services fitted under four tax slabs of 5%, 12%, 18% and 28% under GST.

Defence Acquisition Council (DAC) granted approval for procurement of three cadet training shipsfor the Indian Navy, which would be utilised to provide basic sea training for officer cadets including women officer under trainees.
DAC meeting was chaired by Defence Minister Nirmala Sitharaman.
DAC is the highest decision-making body for defence purchases.