02.02.23 Daily [Chhattisgarh] CGPSC Current Affairs

Chhattisgarh Affairs

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National and International Affairs

Budget Estimates 2023-24:

The total receipts other than borrowings is estimated at Rs 27.2 lakh crore and the total expenditure is estimated at Rs 45 lakh crore.

The net tax receipts are estimated at Rs 23.3 lakh crore.

The fiscal deficit is estimated to be 5.9 per cent of GDP.

To finance the fiscal deficit in 2023-24, the net market borrowings from dated securities are estimated at Rs 11.8 lakh crore.

The gross market borrowings are estimated at Rs 15.4 lakh crore.

Revised Estimates 2022-23:

The total receipts other than borrowings is Rs 24.3 lakh crore, of which the net tax receipts are Rs 20.9 lakh crore.

The total expenditure is Rs 41.9 lakh crore, of which the capital expenditure is about Rs 7.3 lakh crore.

The fiscal deficit is 6.4 per cent of GDP, adhering to the Budget Estimate.

To commemorate Azadi Ka Amrit Mahotsav, a one-time new small savings scheme,Mahila Samman Savings Certificateto be launched. It will offer deposit facility upto Rs 2 lakh in the name of women or girls for tenure of 2 years (up to March 2025) at fixed interest rate of 7.5 per cent with partial withdrawal option.

The maximum deposit limit for Monthly Income Account Scheme to be enhanced from Rs 4.5 lakh to Rs 9 lakh for single account and from Rs 9 lakh to Rs 15 lakh for joint account.

The entire fifty-year interest free loan to states to be spent on capital expenditure within 2023-24. Part of the loan is conditional on States increasing actual Capital expenditure and parts of outlay will be linked to States undertaking specific loans.

Fiscal Deficit of 3.5% of GSDP allowed for States of which 0.5% is tied to Power sector reforms.

National Financial Information Registryto be set up to serve as the central repository of financial and ancillary information for facilitating efficient flow of credit, promoting financial inclusion, and fostering financial stability. A new legislative framework to be designed in consultation with RBI to govern this credit public infrastructure.

Financial sector regulators to carry out a comprehensive review of existing regulations in consultation with public and regulated entities. Time limits to decide the applications under various regulations would also be laid down.

To enhance business activities in GIFT IFSC, the following measures to be taken.

Delegating powers under the SEZ Act to IFSCA to avoid dual regulation.

Setting up a single window IT system for registration and approval from IFSCA, SEZ authorities, GSTN, RBI, SEBI and IRDAI.

Permitting acquisition financing by IFSC Banking Units of foreign bank.

Establishing a subsidiary of EXIM Bank for trade re-financing.

Amending IFSCA Act for statutory provisions for arbitration, ancillary services, and avoiding dual regulation under SEZ Act

Recognizing offshore derivative instruments as valid contracts.

Amendments proposed to the Banking Regulation Act, the Banking Companies Act and the Reserve of India Act to improve bank governance and enhance investors protection.

Countries looking for digital continuity solutions would be facilitated for setting up of their Data Embassies in GIFT IFSC.

SEBI to be empowered to develop, regulate, maintain and enforce norms and standards for education in the National Institute of Securities Markets and to recognize award of degrees, diplomas and certificates.

Integrated IT portal to be established to enable investors to easily reclaim the unclaimed shares and unpaid dividends from the Investor Education and Protection Fund Authority.

Direct Benefit Transfer under a pan-India National Apprenticeship Promotion Schemeto be rolled out to provide stipend support to 47 lakh youth in three years.

At least 50 tourist destinations to be selected through challenge mode; to be developed as a complete package for domestic and foreign tourists.

Annual production of 5 MMT underGreen Hydrogen Missionto be targeted by 2030 to facilitate transition of the economy to low carbon intensity and to reduce dependence on fossil fuel imports.

35000 crore outlay for energy security, energy transition and net zero objectives.

Battery energy storage systems to be promoted to steer the economy on the sustainable development path.

20,700 crore outlay provided for renewable energy grid integration and evacuation from Ladakh.

National Data Governance Policyto be brought out to unleash innovation and research by start-ups and academia.

One stop solution for reconciliation and updation of identity and address of individuals to be established using DigiLocker service and Aadhaar as foundational identity.

PAN will be used as the common identifier for all digital systems of specified government agencies to bring in Ease of Doing Business.

95 per cent of the forfeited amount relating to bid or performance security, will be returned to MSMEs by government and government undertakings in cases the MSMEs failed to execute contracts during Covid period.

Result Based Financing to better allocate scarce resources for competing development needs.

iGOT Karmayogi, an integrated online training platform, launched to provide continuous learning opportunities for lakhs ofgovernment employees to upgrade their skills and facilitate people-centricapproach.

More than 39,000 compliances reduced and more than 3,400 legal provisions decriminalized to enhance Ease Of Doing Business.

Jan Vishwas Bill to amend 42 Central Acts have been introduced to further trust-based governance.

Bharat Shared Repository of Inscriptionsto be set up in a digital epigraphy museum, with digitization of one lakh ancient inscriptions in the first stage.

Effective Capital Expenditure of Centre to be Rs. 13.7 lakh crore.

Continuation of 50-year interest free loan to state governments for one more year to spur investment in infrastructure and to incentivize them for complementary policy actions.

Encouragement to states and cities to undertake urban planning reforms and actions to transform our cities into sustainable cities of tomorrow.

Transition from manhole to machine-hole mode by enabling all cities and towns to undertake 100 percent mechanical desludging of septic tanks and sewers.

A NationalDigital Library for Children and Adolescentsto be set-up for facilitating availability of quality books across geographies, languages, genres and levels, and device agnostic accessibility.

Rs. 5,300 crore to be given as central assistance to Upper Bhadra Project to provide sustainable micro irrigation and filling up of surface tanks for drinking water.

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