Highlights |IAS Current Affairs 08-07-2019
Current Affairs and News (08-07-2019)- The following article contains all the updated events and new for IAS Preparation. Our daily IAS Current Affairs and News cover the most important topics to give precise information to the reader and IAS Aspirants.
- Road to agricultural and rural prosperity
- Indo-Afghan trade chokes on U.S. curbs
- Outlay for child welfare sees a meager increase
- Making a pitch for the PPP model in railways
- Income inequality among farmers
- Bucks for the banks: Union Budget
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IAS Current Affairs and News Analysis (08-07-2019)
Road to agricultural and rural prosperity
Part of Prelims and mains GS III Indian Economy
A genuine farming and country improvement centered Budget, it has sufficiently met the twin destinations of development and comprehensiveness. The essence of the Budget is ‘manageability’ in each perspective, be it horticulture rehearses or financial reasonability.
Farmer producer organization
- A declaration of the development of 10,000 new FPOs throughout the following five years is a stage towards the equivalent.
- With this, the economies of scale can be saddled to accomplish the objective of multiplying rancher’s salary by the decrease in input costs and guaranteeing better value acknowledge by the ranchers for their yield.
- The motivators proposed for ladies SHGs won’t just prompt occupation age and ladies strengthening, yet in addition, sustain original business people through the MUDRA advances of ₹1 lakh.
- With the proposed intercessions, ranchers, as well as rustic enterprise, will get the important lift.
Another plan “Pradhan Mantri Matsya Sampada Yojana” will give enough certainty to the individuals who are in the fisheries area, to upgrade their salary with better fisheries the board, framework creation, expanding generation and profitability, improved post-collect the executives bringing financial suitability of the segment.
Artisans and agripreneurs
- The administration has indicated that each individual having the capacity to bring monetary unrest will be given an equivalent chance. SFURTI is an endeavor toward this path.
- Provincial craftsmen have gotten a holding hand from the administration in a bunch based improvement approach that will redesign local and customary businesses, profiting around 50,000 craftsmen.
- Upgrading the possibilities of agripreneurs, the ASPIRE plan will make 50,000 talented provincial business visionaries, particularly in the rustic horticulture area.
- To grow the salary wellsprings of our ranchers, there is a proposition to empower them to take up control age exercises on their field to change the ‘Annadata’ to a ‘Urjadata’.
Connectivity and marketing
- Presently, under Pradhan Mantri Gram Sadak Yojana, a street system of 1.25 lakh km will carry more towns to provincial markets.
- For alleviating ranchers from dubious possibilities, the States will be compelled to actualize an e-NAM system for better activities under the APMC Act.
Zero budget farming
- The idea of zero-spending cultivating, which a few ranchers have exemplarily demonstrated to be feasible, will help the certainty of ranchers.
- With ordinary methods, the ranchers will have the option to upgrade their salary levels by monitoring the info costs.
Jal Shakti Abhiyan
- A combination of assets from different Ministries to support the Jal Shakti Abhiyan may see basic water squares being recovered.
Indo-Afghan trade chokes on U.S. curbs
Part of Prelims and mains GS III Indian Economy, GS II International relations
- The administration’s choice to slice its distribution for Iran’s Chabahar port by 66% will be a further hit to the India-Afghan exchange, as of now hit by Pakistan’s choice to boycott airspace rights to most flights to and from India, and the U.S. authorizes on Iran.
- The administration, which had been distributing ₹150 crores for the port every year for as long as not many years, has cut its allotment to simply ₹45 crores in the Budget for 2019-20.
Waiver of little help
- In fact, the U.S. has given India a waiver to build up the Chabahar port, to advance exchange with Afghanistan as a major aspect of its “South Asia” procedure.
- By and by, be that as it may, the scratch-off of all waivers for oil and devastating financial approvals forced by the Trump organization, has everything except solidified arrangements.
- Afghan banks are reluctant to open credit lines for shipments, and shippers and payload handlers are avoiding adjusting the Iranian port.
- Because of Pakistan’s airspace boycott, Afghan foods grown from the ground items that had made up a main part of the payload on flights among Kabul and Delhi are being delivered to other universal markets.
Outlay for child welfare sees a meager increase
Part of Prelims and mains GS II Social justice
- The cost for kids in the Union Budget has demonstrated a peripheral increment of 0.05%, going up from 3.24% in the last financial to 3.29%.
- The offer is not exactly the low portion of 5% that the National Plan of Action for Children, 2016, has suggested.
- A point by point examination of the budgetary award did by Child Rights and You shows that designations are inadequate for the yearning plan for nourishing improvement.
- The portion of instruction has expanded possibly to 68.54% from 68.2%, yet has declined by in excess of 10 rate focuses from the 79.02% of 2015-16. These incorporate plans, for example, Samagra Shiksha, National Program of Mid-day Meal in Schools and Navodaya Vidyalaya Samiti.
- Wellbeing related budgetary assignment as a portion of the kid wellbeing spending plan has indicated a decay of 0.39 rate point — from 3.9% last financial to 3.51%.
- The Anganwadi administrations and the Poshan Abhiyan (Nutrition Mission) are among the most significant government programs planned for decreasing hindering, frailty, low weight and low birth weight. The budgetary distribution for the two has expanded.
- National Child Labor Project Scheme enlisted a budgetary cut of 16%.
Making a pitch for the PPP model in railways
Part of Prelims and mains GS III Indian Economy
Association Finance Minister has proposed a capital consumption of more than Rs. 1,60,000 crore for the Railway Ministry for 2019-20. This is the most elevated ever portion for Indian Railways.
The railway system will require a venture of Rs. 50 lakh crore till 2030. Along these lines, to guarantee such a major interest in modernizing Indian railroads and its system, the course of open private organization (PPP) model has been pitched to accomplish quicker advancement.
The cash required for Indian Railways will be given from various sources, for example,
- Budgetary support
- Nirbhaya Fund
- Internal resources
- Extra budgetary resources
Ways to improve Indian Railways
To modernize and ease blockage of Indian railroads, there is a requirement for building new rail line lines, measure changes (for the most part from meter check to wide measure), multiplying the present single line, keep up moving stock and improving flagging and media transmission along the rail route tracks.
There is additionally need to improve traveler pleasantries, modernize railroad stations and finish of existing devoted cargo hall ventures. Such cargo passage will free up a portion of the current railroad organize for traveler trains. FM featured that finishing every single endorsed task will take decades thinking about its capital nature of the venture.
Hence, in such activities, the PPP model will help in releasing quicker advancement for the finishing off work on tracks, moving stock assembling and conveyance of traveler cargo administrations.
The administration expects that its income from Indian Railways will improve basically from
- Development in number of travelers
- Development in cargo volume
Suburban Railways: For the development of Indian Railways in rural India, Finance Minister has urged to put more in Suburban railroads through Special Purpose Vehicles (SPV) structures like Rapid Regional Transport System (RRTS) which is directly proposed on Delhi-Meerut Route.
Metro Railways: Improvement of metro railway activities was likewise proposed by empowering more PPP activities and guaranteeing fulfillment of endorsed works. While supporting the development of the metro railroads organize, the pastor additionally bolstered travel situated improvement to guarantee business action around such travel center points.
Income inequality among farmers
Part of Prelims and mains GS III Indian Economy: Agriculture
TOPIC: General studies 3
- Government Budgeting.
- Indian Economy and issues relating to planning, mobilization, of resources, growth, development, and employment
Bucks for the banks: Union Budget
The 2019-20 spending plan has numerous interesting features, yet it doesn’t have a describing central subject. There were wants for a significant advancement push through either charge decreases or gigantic utilization programs paying little respect to whether it suggested a climb in the monetary insufficiency. Regardless, the Finance Minister has chosen to be monetarily moderate, picking to play the whole deal game, in any case, it could incite distress for the present.
Banking sector and NBFCs
- Spending limit accommodated ₹70,000 crore capital imbuement in banks. It is trusted that it will prod loaning to development divisions in the economy.
- It has thoroughly tended to the significant issues of liquidity, dissolvability and poor administration in the NBFC division.
- A liquidity window of ₹1 lakh crore has been made accessible to open division banks through the Reserve Bank of India to purchase pooled resources of NBFCs and offered a one-time credit ensure for the primary loss of up to 10%.
- To empower better supervision of the part, lodging money organizations will go under the RBI’s administrative ambit.
- A long-standing request of NBFCs for fair treatment with banks in the matter of exhausting premium receivable on awful credits has been surrendered.
- They won’t have to keep up a Debenture Redemption Reserve on open positions that were prompting locking-up of assets, which is their crude material for business.
- The huge issue looked by the NBFC financing foundation is the absence of long haul subsidizing sources to coordinate their loaning residency.
- This pushed them into obtaining transient assets to loan to long haul ventures, prompting resource risk crisscrosses.
- The proposition to set up a board of trustees to examine the issue, incorporating the involvement being developed fund establishments, is welcome.
Do you know?
Debenture Redemption Reserve
A debenture recuperation spare (DRR) is a plan communicating that any Indian association that issues debentures must make a debenture recovery organization with an ultimate objective to shield theorists from the believability of an association defaulting.
The organization underscored its promise to key disinvestment and broadcasted that it is anxious to empower its stake to fall underneath 51% in non-cash related PSUs.
Aadhaar and PAN
- The organization is apparently moving towards a lone character card for inhabitants as Aadhaar, which will at present be interchangeable with the PAN card.
- Residents who don’t have a PAN card can record returns referring to their Aadhaar number, which effectively can sub for PAN in all trades.
Faceless e-assessment of tax returns
- Another change measure is the introduction of unknown re-assessment of appraisal structures taken up for assessment.
- This will abstain from the degree for rent searching for by authorities as there will be no interface among assessee and authority.
- Honestly, the assessee won’t know the character of the authority looking at the appearance.
- This is a totally welcome measure anyway ought to be eagerly searched for use.
Start-ups and corporate sector
- New organizations can fling a groan of easing as the favored delivery person charge is in every way that really matters off the table.
- The corporate fragment has a minor sop with beyond what many would consider possible for the 25% appraisal area being raised to ₹400 crore per annum from ₹250 crores.
- The craving was this would be loosened up to all associations autonomous of size.
- Obviously the organization needs to hold on for the finish of the Direct Taxes Code, which is being examined by a leading body of trustees.
Real estate sector
- Land associations may have the inspiration to cheer as the liberal cost concession for moderate cabin may make the solicitation, especially in the humbler metros.
The ‘bump hypothesis’ of financial analyst Richard Thaler, referenced widely in the Economic Survey 2018-19, has been put to use to push forward two of this present government’s pet subjects — expanding digitalization of cash and advancing electric versatility.
Nudging for digitalization
- On the first, there will currently be a 2% charge deducted at source when withdrawals from financial balances surpass ₹1 crore in a year.
- This is an excellent measure, however, it could prompt authentic issues for organizations, for example, development and land that are compelled to bargain in real money for wage installments.
Nudging towards electric vehicles
- Here those making advances to get one will get a duty derivation of up to ₹1.5 lakh on the intrigue paid by them.
- However, the truth of the matter is that there are not very numerous electric vehicles in the market now. Also, in any event, for those that are there, the holding up period to convey one is long.
- In addition, there is no biological system, for example, charging focuses, even in the significant urban communities. The administration’s expectation is by all accounts that this motivating force will make a business opportunity for e-vehicles that will at that point lead to the advancement of the biological system.
- The spending reports show that the legislature has adhered to the coast way for financial shortage, which will be at 3.3% this monetary. This is, in any case, in light of misrepresented development projections in charge incomes.
- It will be conceivable with an agreeable support if the Bimal Jalan board of trustees that is going into the sharing of RBI’s stores with the administration concocts great proposals.
- The administration additionally gives off an impression of being slid into a protectionist mode, passing by the expansion in traditions obligation on numerous things.
Connecting the dots:
The Union Budget 2019-20 is hoping to spur the economy by revitalizing the financial sector. Analyze.
(TEST YOUR KNOWLEDGE)
Model questions: (You can now post your answers in the comment section)
Note: Featured Comments and comments Up-voted by Wahtaftercollege are the “correct answers”.
Q.1) Consider the following statements,
- SFURTI Scheme launched for making Traditional Industries more productive and competitive by organizing the Traditional Industries and artisans into clusters that have been revamped.
- The Scheme for Promotion of Innovation, Rural Industry, and Entrepreneurship’ (ASPIRE) has been consolidated for setting up Livelihood Business Incubators (LBIs) and Technology Business Incubators (TBIs).
- Select the correct statements
- Only 1
- Only 2
- Both 1 and 2
- Neither 1 nor 2
Q.2) Consider the following statements about the total fertility rate in India,
- Health-related financial allocation in budget 2019-20 as a share of the child health budget has shown a decline.
- The Anganwadi services and the Poshan Abhiyan (Nutrition Mission) are among the most important government programs aimed at reducing stunting, anemia, low weight, and low birth weight.
Select the incorrect statements
- Only 1
- Only 2
- Both 1 and 2
- Neither 1 nor 2