TELANGANA
Telangana spends 38% of revenue on salaries, pensions
The state government has been spending about 38% of its revenue expenditure on payment of salaries and pensions to the government employees along with other establishment expenditure. The amount is nearly 40% of the state’s own revenues that is generated through GST, excise, property registration and other sources.
The figures have been incorporated and shown in the Pay Revision Commission (PRC) report that was made public on Wednesday. “Compared to other states such as Punjab (49.3%), Kerala (48%) and Maharashtra (41.7%), Telangana expenditure on salaries and pensions is less as the per the figures available of 2016-2017 financial year. While revenue expenditure was Rs 81,432 crore, about Rs 31,000 crore was spent on salaries and pensions (38%).
As per the budget reports, the state revenue in 2014-2015 was Rs 51,000 crore including the state’s own revenue and central share, now it is likely to touch Rs 1,13,100 crore in 2019-2020, going by the government’s estimations. But the government is expecting a huge dent in the revenues due to Covid-19 and lockdown.
INTERNATIONAL
International Customs Day: 26 January
The International Customs Day (ICD) is observed on 26 January every year.
The objective of this day is to recognise the role of customs officials and agencies and focus on the working conditions and challenges that customs officers face in their jobs.
The day was instituted by the World Customs Organization (WCO) to commemorate the day in 1953 when the inaugural session of the Customs Cooperation Council (CCC) was held in Brussels, Belgium.
In 1994 the CCC was renamed World Customs Organization (WCO).
China surpasses United States as largest recipient of FDI
China was the largest recipient of foreign direct investment (FDI) in 2020, according to a report released by the United Nations Conference on Trade and Development (UNCTAD).
China overtook the United States to gain the top position in 2020.
The country attracted $163 billion inflows in 2020, compared to $134 billion attracted by the United States,
However, in 2019, the United States had received $251 billion in inflows and China received $140 billion.
Overall, the global FDI had fallen by 42% in 2020, attracting an inflow of an estimated $859 billion, compared to $1.5 trillion in 2019.
NATIONAL
Nation celebrates 72nd Republic Day
Nation celebrates its 72nd Republic Day on 26 January 2021.
The main function was held at Rajpath in the National Capital where President Ram Nath Kovind took the salute of the parade.
The Republic Day Parade ceremony commenced with Prime Minister Narendra Modi visiting the National War Memorial.
The parade began from Vijay Chowk, as usual, but will culminate at the National Stadium instead of ending at the Red Fort.
This year, there was no Chief Guest from Foreign countries due to the pandemic.
Thirty-two tableaux, 17 from States and Union Territories, nine from various Ministries
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