ASSAM

Rs 1249-cr deficit State Budget

Finance Minister Himanta Biswa Sarma presented a Rs 1249.50 crore deficit Budget for the year 2020-21 without imposing any new tax. He also proposed reduction of taxes on petrol and diesel.

This is the last full Budget of the present government as the election to the State Assembly is due next year.

In his Budget speech in the State Assembly, the Finance Minister said that the State government has been able to present a Budget without imposing new tax because of the efforts on improving revenue collection and checking corruption.

The minister proposed to lower the taxes on petrol and diesel by 50 paisa.

He also announced a three-year agricultural income tax holiday for the tea industry.

All treatment for Divyang at all government hospitals to be made free, while all Divyang employees of the State government will be given a Puja bonus of Rs 2,000 in addition to their monthly salary.

Sarma further proposed that all electric vehicles registered in the name of women will be exempted from the registration fee.

According to the Budget estimates, the total receipts of the State will be Rs 282294.39 crore and the expenditures will be Rs 280360.29 crore, leaving a surplus of Rs 1934.10 crore. However, because of a deficit opening balance of Rs 3183 crore, the year 2020-21 will end with a deficit of Rs 1249.50 crore.

Giving details of the Budget Estimates of 2020-21, the minister revealed that the estimates show a receipt of Rs 105245.23 crore under the Consolidated Fund of the State. Out of this, Rs 91930.80 crore is on Revenue Account and the remaining Rs 13315.43 crore is under Capital Account. After adding the receipt of Rs 177048.16 crore under Public Account, the aggregate receipts amount to Rs 282294.39 crore.

As against this, total expenditure from the Consolidated Fund of the State in 2020-21 is estimated at Rs 103761.63 crore of which Rs 82776.98 crore is on Revenue Account and Rs 20984.65 crore is on Capital Account.

Taking into account the expenditure of Rs. 176598.66 crore under Public Account, the aggregate expenditure for the year is estimated at Rs. 280360.29 crore. Thus, estimated transactions during the year will result in an estimated surplus of Rs. 1934.10 crore. This, together with the opening deficit of Rs. 3183.60 crore will lead to a Budget deficit of Rs. 1249.50 crore at the end of the year 2020-2021.

Giving an account of the State’s economy, the Finance Minister said that while the global economy is looming under the economic slowdown during 2019-20, which has a cascading effect on the Indian economy, State economy has remained mostly insulated during the year and the GSDP is estimated to grow higher than the previous year.

The minister said that the government managed to set new benchmarks of spending and said that in 2018-19, the government could spend 67 per cent of the budgeted amount. The government spending crossed the Rs 50,000 crore mark for the first time in 2016-17, then Rs 60,000 crore mark in 2017-18 and crossing the Rs 70,000 crore mark in 2018-19 (Provisional Estimates)

NORTH-EASTERN STATES

Manipur CM launches ‘Anganphou Hunba’ programme in Imphal East

Manipur Chief Minister N Biren Singh launched ‘Anganphou Hunba’ (Early Paddy Crop) programme at Arapti Mayai Leikai in Imphal.

The state government has prepared a 260-crore rupee project to provide irrigation facilities by pumping groundwater and is awaiting the Centre’s approval.

Mr Biren Singh said, the government has also taken up steps to produce sufficient quantities of fishes by providing loans to 800 selected fish farmers.

INTERNATIONAL

Covid-2019 is official name for disease caused by new coronavirus says WHO

The World Health Organization (WHO) says the official name for the disease caused by the new coronavirus is Covid-2019.

It comes after the death toll from the virus passed one thousand. Tens of thousands of people have been infected.

The word coronavirus refers to the group of viruses it belongs to.

Researchers have been calling for an official name to avoid confusion and stigmatisation of any group or country.

US President Donald Trump signs USD 8.3B bill to fight coronavirus outbreak

US President Donald Trump signed an 8.3 billion US

Dollars measure to help tackle the coronavirus

outbreak killed 12 people in the US and infected

more than 200.

The legislation provides federal public health

agencies with money for vaccines, tests, and

potential treatments and helps state and local

governments prepare and respond to the threat.

NATIONAL

Cabinet clears merger of 10 PSBs into 4 banks effective April 1

The Cabinet approved the amalgamation of the 10 public sector banks (PSB) into 4 PSBs that was announced on August 30, 2019.

The merger would come into effect from April 1, 2020.

The Cabinet’s approval will lead to the merger of –

Oriental Bank of Commerce and United Bank of India into Punjab National Bank;
Andhra Bank and Corporation Bank into Union Bank of India;
Syndicate Bank into Canara Bank; and
Allahabad Bank into Indian Bank

According to the government, the merger of the 10 banks will lead to the creation of stronger establishments that will be able to meet the challenge of a $ 5 trillion economy.

Mumbai set to host IOC session in 2023

Mumbai is set to host the 2023 International Olympic Committee’s session after the IOC Executive Board recommended the Indian city for the annual conference.

The IOC Executive Board decided to put Mumbai’s candidature to a vote of the members.

The decision is to be ratified at the 136th IOC session in Tokyo in July this year.

After ratification, this will be the second-ever IOC session to be held in India after a long gap of 37 years.

India last hosted an IOC session way back in 1983 in New Delhi.

Mineral Law Amendment Bill passed in Lok Sabha

The Lok Sabha approves Mines and Mineral Laws (Amendment) Bill over the Delhi violence and other issues.

Mines and Mineral Laws

The Bill proposes to remove end-use restrictions for participating in coal mine auctions, and it will open up the coal sector fully for commercial mining for all domestic and global companies. The process for the passage of the bill was underway when the House was adjourned following protests by Opposition members over controversial remarks by a Rajasthan MP against Congress president Sonia Gandhi and her family members.

The bill explains about the coal sector completely for commercial mining. It intends to remove end-use restrictions to participate in coal mine auction. The ordinance allows coal mining by any company present in industries other than steel and power and does away with the captive end-use criteria.

DAY-NULM signs MoU with Amazon for e-marketing of products made by SHGs

Deendayal Antyodaya Yojana- National Urban Livelihoods Mission (DAY-NULM) that functions under the Ministry of Housing and Urban Affairs signed MoU with Amazon for e-marketing of products made by Self Help Groups (SHGs) across the country in urban areas.

The partnership aims to provide access to a wider customer base for products made by SHGs and to strengthen the mission of creating sustainable livelihoods in urban areas.

MHA approves Automated Facial Recognition System to identify bodies, missing children, criminals

Ministry of Home Affairs has approved the automated facial recognition system (AFRS) for the identification of unrecognized bodies, missing children, and criminals.

The approval has been accorded for the implementation of AFRS by the National Crime Records Bureau (NCRB).

AFRS will use police records and will be accessible only to law enforcement agencies.

It is expected to facilitate better identification of criminals, unidentified dead bodies, and missing or found children and persons and will not violate privacy.

AFRS will use police records and will be accessible only to law enforcement agencies.

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