The Reserve Bank of India has taken three public sector banks named Bank of India, Bank of Maharashtra and Oriental Bank of Commerce out of the Prompt Corrective Action framework and lifted various restrictions on lending and expansion of businesses.
Eight PSU banks still under the Prompt Corrective Action framework.
Govt has exempted income up to ₹ 5 lakh from income tax, raising standard deduction to ₹ 50,000 and provided concessions on interest income from bank deposits and rent. Individuals with income up to ₹ 5 lakh will not be required to pay any tax.
Finance Minister Piyush Goyal presented Interim Budget.
Sikkim has signed a MoU with Microsoft to transform the educational landscape. Microsoft would support the state in integrating IT content in the state board curriculum & build student capacity via Microsoft Educator Network & Innovative Educator Program.
Sikkim is India’s first organic state.
Govt has constituted a panel under CEA to explore prepaid payments by state electricity distribution companies to power plants. The panel will study working capital cycles of companies & identify gaps contributing to stress in the sector.
Central Electricity Authority is headquartered at New Delhi.
The Punjab government approved a rural development scheme ‘Smart Village Campaign’ worth ₹ 384.40 Crore to supplement the ongoing works to build village infrastructure and provide essential amenities.
Amarinder Singh is the Chief Minister of Punjab.
Under the scheme Pradhan Mantri Kisan Samman Nidhi, the Govt announced ₹ 6000 per year cash support to small & marginal farmers to provide relief to the distressed farm sector. The govt announced the allocation of Rs 75,000 crore for the next fiscal.
₹ 6000 will be transferred in 3 equal instalments.
India captain Mithali Raj became the first female cricketer to play 200 ODIs. She is the highest run-getter in ODIs with 6622 runs at an average of 51.33 including 7-hundreds. Her international career is 4th -longest behind Tendulkar, Jayasuriya & Miandad.
She won Padma Shri, Arjuna awards for Cricket.
According to the Survey by Transparency International, Assam has topped in the ranking of best practices in the Budget formulation, followed by Andhra Pradesh and Odisha. The states which figured lower in the ranking were Meghalaya, Manipur and Punjab.
Assam has published a Citizens budget in the public domain.
The government has proposed to launch 'Pradhan Mantri Shram-Yogi Maandhan' for the unorganized sector workers with monthly income up to ₹ 15000. The scheme will provide an assured monthly pension of ₹ 3000 from the age of 60 years.
The project outlay of the scheme is ₹ 500 Crore.
PNB MetLife signed P.V. Sindhu as its brand ambassador. She would support various initiatives under project Damini, a CSR initiative intended to empower girls at every stage of the journey into womanhood.
PNB MetLife Insurance Company is headquartered at Mumbai.