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Union Budget 2018-19: Highlights

Dear Aspirants,

It is very important for you to get updates on The Union Budget 2018-19. This will be the last full Union Budget to be presented by Finance Minister Arun Jaitley in the session of Parliament and it will be unlike his previous four such exercises because of the complete overhaul of the indirect tax regime affected by implementing the Goods and Services Tax (GST) last year.

The Budget, to be the last for this government in view of the general elections due in the first half of 2019, may have two main components: The first part deals with new schemes and outlays for various existing schemes and sectors for the coming fiscal, while the second contains announcements on direct and indirect taxes. With the implementation of single tax regime GST, this year's budget is believed to take into account only those items that still remain outside the purview of GST. It is highly expected that 2018-19 budget could contain changes in customs and excise duties on these remaining products, which for most others have been subsumed under GST. For the rest, you'll have to watch this space for the review of Union Budget 2018-19.

Top Developments

1.      No changes in personal income tax slabs.

2.    Salaried tax payers to get a standard deduction of Rs.40,000 in lieu of transport allowance and "other medical expenses"

3.    Rs.2,000 crore fund for development of agri markets

4.    All senior citizens will now be able to claim benefit of a deduction of Rs.50,000 for any medical insurance.

5.     For critical illnesses, the deduction has been increased to ₹1,00,000.

6.    Free power connections to 4 crore homes under the Saubhagya Yojana

7.     8 crore free gas connection for poor women through Ujjwala Yojana

8.    Govt. to implement Minimum Support Price for all crops; It is hiked to 1.5 times of production costs

9.    Govt to contribute 12% of wages of new employees for all sectors.

10. New flagship National Health Protection Scheme, providing a health insurance cover of Rs.5 lakh per family per year announced

11.  Railway capex for the year 2018-19 set at Rs.1.48 lakh crore

12.Disinvestment target for this year set at Rs.80,000 crore

Reasoning Quiz for IBPS/SSC/RBI/SBI/RAILWAYS

NEW PATTERN CODING DECODING

Directions : In a certain code language,

‘weapons hidden in town’ is written as ‘14white’ ‘23black’ ‘14yellow’ ‘23red’

‘ready weapons for attack’ is written as ‘18grey’ ‘20indigo’ ‘23red’ ‘25green’

‘hidden for own safety’ is written as ‘25silver’ ‘18grey’ 23violet’ ‘14white’

‘own town under attack’ is written as ‘23violet’ 21blue’ ‘20indigo’ ‘23black’

1) What is the code for “ready”?

a) 21red

b) 23indigo

c) 25green

d) 18grey

e) Cannot be determined

2) ‘23black’ ‘20pink’ ‘14yellow’ may be a code for which of the following?

a) town under attack

b) hidden for safety

c) attack in town

d) town in almost

e) Cannot be determined

3) Which of the following may represent “people own luxury”?

a) 16brown, 25orange, 23violet

b) 20indigo, 23violet, 25brown

c) 14white, 16brown, 23violet

d) Can’t be determined

e) None of these

4) What is the code for “all hidden weapons”?

a) 14white, 23red, 18 grey

b) 23red, 23violet, 25green

c) 20indigo, 14white, 23black

d) Can’t be determined

e) None of these

5) What is the code for “under”?

a) 23blue

b) 25indigo

c) 22 blue

d) 24black

e) 21blue

SH- Current Affairs Update 28th, Jan 2018

Dear Aspirants, 

INDIAN AFFAIRS

Maharashtra to grade performance of its 7.5 lakh govt employees:

Maharashtra State Government’s General administration department under Chief Minister Devendra Fadnavis has proposed a Performance-linked marking system for 7.5 lakh state government employees.

Overview of Maharashtra Government’s Performance-linked marking system for state government employees:

• The new 100-point performance marking system, will take into account subjective as well as objective evaluation of an employee’s performance during the year.
• Out of the 100 marks, 60 marks will be assigned for performance on objective parameters, such as speed of completing the given work, punctuality, attentiveness etc, while the remaining 40 marks will be given for subjective parameters such as quality of file notings, contribution in policy making, articulation of thought etc.
• Although the new system will not disincentivise the average or the poor performers, it has proposed public recognition and rewards for good performers (referred to as ‘Sukarmis’). Rewards may include cash rewards or additional perks.
• All state level and district level government offices will be asked to identify 5 per cent employees across cadres as the top performers.

Quick Facts about Maharashtra: 

• Capital – Mumbai (summer), Nagpur (winter)
• Current Governor – C. Vidyasagar Rao
• Current Chief Minister – Devendra Fadnavis
• Important National Park – Sanjay Gandhi National Park

President Ram Nath Kovind launches Pulse Polio programme for 2018:

On January 27, 2018, President Ram Nath Kovind launched the Pulse Polio programme for 2018 from Rashtrapati Bhavan, New Delhi, by administering polio drops to children below five years.

About Pulse Polio programme for 2018:

• President Kovind administered the drops on eve of National Immunisation Day, which was observed on Jaunuary 29, 2018. 
• Union Health Minister, J P Nadda, Ministers of State (Health) Ashwini Kumar Choubey and Ms. Anupriya Patel were also present at the occasion.
• Under Pulse Polio Programme for 2018, over 17 crore children below five years across India will be given polio drops.

Assam to introduce digital budget:

The Assam Assembly is to introduce digital budget in its upcoming session, instead of the conventional printed booklet.