April Current Affairs 2010

·        The World Bank has agreed to give USD 1 billion loan to India for various developmental projects in urban areas. "World Bank has agreed in principle to give us USD 1 billion (Rs 5000 crore) for implementing various schemes under Jawaharlal Nehru National Urban Renewal Mission (JNNURM),".

·        India and Bangladesh decided to set up a joint Sundarbans Eco-System Forum to protect and preserve the world heritage site from the impact of climate change.

·        In a significant step in taking their bilateral relations to a new level, India and China have signed an agreement to establish a hotline between Prime Ministers of the two countries. 

·        President Barack Obama has appointed Chandigarh-born Srinija Srinivasan, 40, one of the three co-founders of Yahoo! Inc, as a member of the White House Commission on Presidential Scholars.

·        Government appointed former BSF Director General E N Rammohan to inquire into the circumstances leading to the ambush by Naxalites in Dantewada district of Chhattisgarh in which 75 CRPF men were killed.

·        With the wealth gap widening between the rich and poor following opening up of its economy, China is considering to levy social security tax in an effort to narrow the gap in income distribution.

·        Assam government launched an ambitious scheme aimed at uplifting the economic condition of elderly women living below poverty line. The two schemes -- 'Baideu' (elder sister) and 'Nabou' (sister-in-law) -- under the social welfare department were formally launched by Chief Minister Tarun Gogoi.

·        Targeting to provide electricity to about 3,000 villages in remote areas by using solar power, Orissa government said it would spend Rs 200 crore for the project.

·        Taking its anti-smoking drive forward, the government on Thursday banned foreign direct investment (FDI) in cigarette manufacturing in the country.

·        Analjit Singh, the founder and chairman of Max India, a diversified business group with interests in healthcare, IT services, and financial services, is India's highest individual taxpayer. He paid advance tax of Rs 99.7 crore (Rs 997 million). Asim Ghosh, the former CEO of Vodafone Essar, is the second-highest taxpayer in India in 2009-10. He paid an advance tax of Rs 75.4 crore (Rs 754 million) this year, as compared to Rs 7.2 crore (Rs 72 million) in 2008-09. Indrani Patnaik who paid advance tax of Rs 75 crore (Rs 750 million) is the nation's third highest taxpayer.

·        The Punjab Cricket Association (PCA) hosted first-ever carbon-neutral match between Kings XI Punjab and Mumbai Indians clashed in the Indian Premier League tournament.

·        Uttar Pradesh government has banned display of elephants and other wild animals at public places, including in rallies and religious gatherings, and violators would attract a maximum sentence of a three-year imprisonment and fine.

·        Iran's atomic chief said that Tehran has successfully tested a third generation of centrifuges capable of enriching uranium six times faster than those presently installed at its Natanz plant.

·        Arjun Bajpayee, who at 16 hopes to become the youngest climber in the world to scale the world's tallest summit, 8,848 metre high Mount Everest, has left for the region to start his ascent.

·        Making a breakthrough in the US, Reliance Industries said it will invest USD 1.7 billion in a joint venture with Atlas Energy Inc to produce gas from shale, sedimentary rocks, in Marcellus region.

Highlights of Union Budget 09-10

1. Total budget expenditure for 2009-10 will be Rs 10, 28,032 cr.

2. For Non-plan expenditure Rs.6, 95,689 cr and for Plan expenditure Rs.3, 25,149 cr registering an increase of 37% in non-plan and 34% in Plan expenditure over 2008-09.
3. Total expenditure increased by 36% in 2009-10 over 2008-09.
4. Fiscal deficit in 2009-10 is proposed at 6.8% of GDP.
5. Revenue deficit in 2009-10 is proposed at 4.8% of GDP.
6. Personal income tax exemption limit for senior citizens raised by Rs 15,000, from Rs 2, 25,000 to Rs 2, 40,000.
7. The exemption limit for income tax for women raised by Rs 10,000, from 1, 80,000 to Rs 190,000.
8. For all others, exemption limit for income tax raised by Rs 10,000 from Rs 150,000 to 1, 60,000.
9. No change in corporate tax.
10. Fringe Benefit Tax abolished.
11. Commodities Transaction Tax abolished.
12. Goods and Services Tax to be introduced from April 1, 2010.
13. To lead economy to high GDP growth rate of 9% per annum at the earliest, which is dipped from an average of over 9% in the previous three fiscal years to 6.7% during 2008-09.
14. Aim to create 12 million jobs.
15. Govt took 3 stimulus packages to fight slowdown.
16.Defence gets Rs 1,41,703 cr for 2009-10,a 34% hike from 200-09 budgetary allocation.

17. Allocation to National Highways Authority of India (NHAI) for the National
Highway Development Programme (NHDP) increased by 23 per cent.
18. Allocation under Jawaharlal Nehru National Urban Renewal Mission (JNNURM) stepped up by 87% to Rs.12, 887 cr.
19. Allocation under Rashtriya Krishi Yojana (RKVY) stepped up by 30%.
20. Allocation under NREGS increased by 144% to 39,100 cr.
21. National Food Security Act to be brought in to ensure entitlement of 25 kilo of rice or wheat per month at Rs.3/kg to every BPL families in rural or urban areas.
22. Allocation for Bharat Nirman increased by 45%.
23. Allocation under Pradhan Mantri Gram Sadak yojana (PMGSY) increased by 59% amounting to 12,000 crore.
24. Allocation under Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY) increased by 27% to Rs.7000cr.
25. Allocation under Indira Awaas Yojana (IAY) increased by 63% to 8,800 cr.
26. Allocation under National Rural Health Mission (NRHM) increased by Rs.2,057 cr amounting 14,064 crore in 2009-10.
27. New Scheme Pradhan Mantri Adarsh Gram Yojana (PMAGY) with an allocation of Rs.100 cr for integrated development of 1000 villages having population of Scheduled castes above 50%.
28. Overall plan budget for higher education is to be increased by Rs.2,000 cr.
29. Rs.2, 113 cr allocated for IITs and NITs which includes a provision of Rs.450 cr for new IITs and NITs.
30. Rs.827 cr allocated for opening one Central University in each uncovered state.
31. National unique identification numbers to start rolling out in 12-18 months with a provision of Rs.120 cr.
32. Allocation for Commonwealth Games, 2010 raised to Rs.3, 472 cr from Rs.2, 112cr.
33. Rs.500 cr allocated for rehabilitation of internally displaced persons and reconstruction of the Northern and eastern areas of Srilanka.
34. Rs.1, 000 cr allocated for rebuilding the damaged infrastructure caused due to cyclone Aila in West Bengal.