December Current Affairs 2010

·        The government approved additional capital infusion of Rs 6,000 crore in 10 public sector banks with an objective to raise its holding to a minimum 58 per cent in all state-run banks.  The government has already announced infusion of Rs 15,000 crore in the Budget to ensure that capital adequacy ratio of all the public sector banks increase to 7 per cent.

·        The World Bank has approved a USD 45 million technical assistance loan for the National Highways Authority of India (NHAI) to help improve its operational efficiency.

·        Lt Gen A S Lamba, a senior Artillery officer, will take over as new Army Vice Chief. Lamba, replacing Lt Gen P C Bharadwaj who retired from service on November 30.

·        B Saroja Devi has been chosen for the prestigious N T Rama Rao National Film Award for 2009. Noted director K Raghavendra Rao has been chosen for the B N Reddy National Film Award while media baron and film producer Ch Ramoji Rao has been chosen for the Nagireddy- Chakrapani National Award instituted by the Andhra Pradesh.

·        India to provide Rs 7.83 cr in assistance to Nepal. India has stepped up efforts to boost health and educational infrastructure in Nepal, which is still reeling under the impact of the decade-long Maoists insurgency that ended in 2006, with an assistance of Rs 7.83 crore.

·        Water and Power Consultancy Services (WAPCOS) was conferred with Mini Ratna status.

·        World number three Novak Djokovic and the unheralded Viktor Troicki swept Serbia to an historic first Davis Cup title overturning an overnight deficit to beat nine-time winners France 3-2.

·        Ace Indian marksman Gagan Narang ended the year 2010 as the number one Asian shooter, according to the latest rankings issued by Asian Shooting Confederation.

·        India and the Arab Nations will soon become major trading partners, exhibiting significant improvement in two-way trade and is expected to reach $120 billion by 2010–11 and $240 billion by 2014," industry body CII today said in its report.

·        India ranks fourth in Asia and tenth in the world in plant diversity.

·        Saina Nehwal wins Hong Kong Super Series by defeating Shixian Wang of China to clinch her third Super Series title of the year(2010) at the Hong Kong Open.

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.