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Current Affairs Capsule – February 1, 2020

February 1, 2020
Posted by: Team CP
Category: Current Affairs Capsule

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Finance Minister Nirmala Sitaraman on 1st February, 2020 presented the Budget 2020-21, which centres around three ideas — Aspirational India, Economic development and A Caring Society. A budget of ₹99,300 crores has been allocated for educational sector in the FY21. ₹100 lakh crores is to be invested in infrastructure over the next 5 years. The structural reforms include recapitalization of banks through the Insolvency and Bankruptcy Code (IBC).
India-Africa Defence Conclave is to be held on 6th February, 2020 for the first time at the DefExpo, India’s Defence Exhibition that is scheduled to be held in Lucknow between 5th February and 8th February, 2020. During the exhibition, India showcases its existing and new defence technologies to the world. Established in 1981, the Defence Exhibition Organisation is responsible for organising international exhibitions such as DEFEXPO.
Finance Minister Nirmala Sitharaman tabled the Economic Survey 2019-20 in both the houses of Parliament on 31st January, 2020. The report suggested a new model ‘Assemble in India’ to create 80 million jobs in the country and to achieve 5 trillion USD economy target. It suggests that India should benefit from the China-US trade war by increasing export manufacturing. The Assemble in India for the world should be integrated with “Make in India” to increase export market share by 3.5% in 2025 and 6% in 2030.
The data on fiscal deficit of the Government of India was released by the Controller General of Accounts (CGA) on 31st January, 2020. The fiscal deficit of India touched 132.4% of the full-year target in December, 2019 as per the report. The fiscal deficit was 9,31,725 crores of rupees. During 2018-19 budget, the fiscal deficit was 112.4%. The Economic Survey has suggested the reduction of the deficit to 3% of GDP in 2020-21.
Indian Railways has taken up the Radio Frequency Identification (RFID) project to automatically and accurately track and trace rolling stock with a special focus on improving their safety and reliability. All Rolling Stock, roughly 3,50,000 vehicles, are expected to be tagged by 2021. The RFID project undertaken by the Centre for Railway Information Service (CRIS), the IT arm of the Indian Railways, can read data even at a speed of 182 kmph.
SAMPRITI-IX, a joint military training exercise between India and Bangladesh, will be conducted at Umroi in Meghalaya from 3rd February to 16th February, 2020. During the joint exercise, the Command Post Exercise and Field Training Exercise is to be conducted according to the United Nations Charter. The exercise aims to build, strengthen and promote positive relations between the armies of India and Bangladesh. It is hosted alternatively by both the countries.
Assam topped in the budget formulation according to the survey conducted by the Transparency International. Assam was followed by Odisha and Andhra Pradesh in ranking. Goa, Maharashtra and Punjab were ranked at the lower positions. The survey was based on four parameters – budgetary process, public disclosure, post budget fiscal management and efforts to make budget citizen friendly. Headquartered in Germany, the Transparency International releases the Global Corruption Index annually.