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Budget 2021-22 proposals rest on 6 pillars;fiscal deficit is set to jump to 9.5% of GDP in 2020-21 as per Revised Estimates.

6 pillars:health and well-being,physical,financial capital and infrastructure,inclusive development for aspirational India,reinvigorating human capital,innovation and R&D & minimum government and maximum governance.Deficit is higher than 3.5% projected.

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Personal income tax slabs remain as is.

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Budget 2021:137% hike in health & wellness budget, new PM Atmanirbhar Swasth Bharat scheme announced

Includes a ₹60,030 crore outlay on drinking water and sanitation,a ₹2,700 crore outlay on nutrition,₹35,000 crore toward vaccination etc.The new scheme meant to strengthen the health system,will be launched with an outlay of Rs 64,180 crore over six years.

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Outlay for health and well-being is Rs 2,23,846 crore in 2021-22

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Budget 2021: Increase in insurance FDI limit,PSB recapitalisation,Privatisation of 2 PSBs & 1 General Insurance

Increase in FDI limit in insurance from 49% to 74% & allow foreign ownership and control with safeguards;provision of Rs 20,000 crore for PSB recapitalisation in 2021-22;bad bank-like structure through ARC and AMC to be set up To Resolve NPAs.

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IPO of LIC as part of Rs 1.75-lakh-crore disinvestment plan

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Budget 2021:Voluntary Vehicle scrapping policy,Production Linked Incentive scheme,Mega Investment Textiles Parks (MITRA)

Fitness test after 20 years for personal vehicles & 15 years for commercial vehicles.Rs.1.97 lakh cr in next 5 years for PLI schemes in 13 Sectors;Rs.2,217 crore to tackle air pollution for 42 urban centres with a million-plus population.

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7 Textile Parks to be established over 3 years

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Budget 2021:National Infrastructure Pipeline(NIP)Expanded To Cover 7,400 Projects.

Measures announced include:Rs.20,000 crore to set up & capitalise a Development Financial Institution(DFI);National Asset Monetization Pipeline to be launched;Rs. 5.54 lakh crore capital expenditure in BE 2021-22 – sharp increase of 34.5% over BE 2020-21.

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NIP jointly funded:central 39%, state 40% & private sector 21%.

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15th Finance Commission final report:Tax revenue to States to be kept at 41% for 5 years

Greater focus on grants-in-aid(recommended ₹2.95 lakh crore to 17 states over 2021-26); ₹2.38-lakh crore for Defence modernisation;called for a major restructuring of the FRBM Act;Rs 30,757 crore allocated to Jammu and Kashmir and Rs 5,958 crore for Ladakh

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Allocates Rs 1.5 lakh crore in grants to urban local bodies

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Union Education Minister Ramesh Pokhriyal 'Nishank' Launches ASEAN-INDIA Hackathon to further strengthen ties.

He said this Hackathon will provide a unique opportunity to India and ASEAN broad themes of "Blue Economy" and "Education"& will be an enactment of six fundamental virtues of our civilisation: respect, dialogue, cooperation, peace, prosperity & innovation

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The Hackathon is an initiative taken by Ministry of Education.

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2 February: World Wetlands Day

World Wetlands Day occurs annually on February 2 since 1997, marking the date of the adoption of the Convention on Wetlands on February 2, 1971 when a small group of environmentalists signed an international agreement at the Ramsar Convention in Iran.

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2021 theme:Wetlands and Water

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India's EV transition will require $266 billion(around Rs.19.7 lakh cr) investment over next decade: Report by Niti Aayog & RMI

Report highlights the role of finance in this & also identifies a market size of $50 billion (Rs 3.7 lakh crore) for financing of EVs in 2030 –about 80% of current size of India’s retail vehicle finance industry,estimated to be worth Rs.4.5 lakh crore.

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Report title:Mobilising Finance for EVs in India.

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Uttarakhand sets up one of its largest arboretum to conserve Shivalik range's 210 tree & shrub species

Was inaugurated over an area of 3 acres in Uttarakhand's Nainital district by Ajay Singh Rawat,a noted environmentalist.Trees preserved include:Kafal,Buransh,Tejpat,Sanjeevani etc.Exotic species:Queensland Kauri Pine,Atlas Cidar,Montezuma Cypress etc.

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Shivalik literally means 'tresses of Shiva'

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Defence Minister Rajnath Singh inaugurates HAL’s second Tejas Light Combat Aircraft’s production line

The event comes a day before Aero India 2021 opening.Delivery of Tejas LCA to the Indian Air Force under a Rs 48,000-crore deal will begin from March 2024 & around 16 aircraft will be rolled out annually till the completion of the total supply of 83 jets.

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Hindustan Aeronautics Limited:
CMD:R Madhavan;
HQ:Bengaluru.