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Telengana Government to present 1.30 Lakh crore Budget
- Plan expenditure – Rs.67,630 crore
- Non-plan expenditure –Rs.62,785 crore
- Revenue surplus – Rs.3,381 crore
- Fiscal deficit- Rs.23,467 crore
Allahabad High Court celebrates 150th foundation year
- 150th Foundation Day on 14th March 2016.
“Advancing Asia: Investing for the Future” Conference
- Key issues for discussion include
- slowing potential growth
- rising debt
- infrastructure bottlenecks
- regional integration
- Role of trade and other structural reforms in boosting output and macroeconomic resilience.
- The Conference held in New Delhi from March 11-13.
Uttarkhand Government presented the 40422 crores State budget
- Total expenditure- 40422 crores
- Total receipts-39912 crores
- Deficit –2 crores
- Total planned expenditure-15,931.60 crores
Three Railway projects inaugurated at Bihar
- Estimated cost of 3 projects- 7200 crores
LED based lighting programme
- an effort to promote measures that can save energy
- LED lamps provided to households and promote its usage to save energy.
- successfully implemented across 120 cities in India
Rs 13,000 crores weapons and sensors package for 7 new stealth frigates
- seven new stealth frigates being constructed by defense shipyards for the Navy
- Initial approval for the Rs 7,200 crore project to indigenously manufacture 244 air defence guns for the IAF.
- Package for stealth frigates will be undertaken on a “single vendor and repeat order basis“.
Govt to computerise all ration shops by 2019
- to help remove corruption in PDS, by installing electronic Point of Sale (ePoS) devices
- 35 lakh fair price shops across the country
- The cost of such e-PoS, is around Rs 20,000 and a total sum of Rs 884 crore has been earmarked
- Centre will spend a total of Rs 879 crore while states will spend Rs 393 crore under the scheme.
13th Broadband commission meet conducted at Dubai
- 13th meeting of Broadband Commission for Sustainable Development
- Aims to promote the power of broadband networks and services for the 2030 Agenda for Sustainable Development
India Inc first in the world to formally adopt UN’s SDG
- 17 goals identified for its implementation.
- SDG– Sustainable Development Growth; MDG- Millenium Development Growth
- SDG- 17 goals; MDG- 8 goals
- SDG will be evaluated, monitored and reported in a time-bound manner
- MDG was in implementation from 2001-2015
Lebanese movement Hezbollah declared a terrorist group
- The Revolutionary Guards created Hezbollah in the 1980s.
- It is funded by Iran.
- The United States, Canada and Australia have listed Hezbollah as a terrorist group. The European Union has also blacklisted the military group.
Ireland Parliaments fails to elect Prime Minister
- Incumbent Enda Kenny remains as prime minister until he manages to build coalition support behind him or a different prime ministerial candidate is nominated.
- Kenny won the support of 57 deputies. Required majority is 80. He got 94 votes against him.
Business and Economy
SBI & IDBI ratings unchanged
- Moody’s Investors Service have maintained that SBI and IDBI ratings remain unchanged.
- local and foreign currency deposit ratings of State Bank of India and IDBI Bank at ‘Baa3/P-3’
- Baa-3: Baa’ (Global Long-Term Rating Scale) are judged to have medium-grade intrinsic, or standalone financial strength and subject to moderate credit risk
- P-3 : P-3 (Global Short-Term Rating Scale) issuers (or supporting institutions) rated Prime-3 has an acceptable ability to repay short-term obligations
India Post selects Deloitte as consultant for payments bank
- 800-crore proposal by India Post
- Will be kept before the cabinet for its final approval.
- 40 international financial firms including World Bank and Barclays have shown interest
- India Post has 55 lakh branches across the country.
MSP of BT cotton seed to be fixed
- The price of BG-I version of BT cotton hybrid (9450 grams of BT Cotton plus 120 grams refugia) was fixed at 635 rupees
- The price of BG-II version was fixed at 800 rupees
FSSAI to train 20K street vendors in Delhi
- On the successful completion of the training Food vendors will receive Smart Skill cum Registration cards.
- primarily aims at to raise the safety standards of foods sold on streets across the capital city of New Delhi
- 40 training centers set up for the purpose
Michelin ties up with Snapdeal to sell tyres online
- Will enable consumers to place an order online using Snapdeal to purchase Michelin tyres from an authorised dealer and request for fitment at a time and place of their choice.
- All the Michelin’s passenger car tyres will be available on Snapdeal.
DBS to acquire RBS on shore branch for 1000 crores
- IDFC was interested in acquiring RBS but later withdrew from the deal.
- RBS bank has sold all its assets across the world
- National Bank of Abu Dhabi (NBAD) bought RBS’s offshore loan book in India for $816.8 million (about Rs 5,422 crore)
Government Relaxes Norms under Public Procurement for Start-Up MSMEs
- Decided to relax procurement norms related to experience and turnover for micro, small and medium start-ups
- Stresses on creating a nation of more job providers than job seekers.
Crisil Estimates India’s GDP Growth at 7.9%
- Provided the Monsoon remains normal and the government implements the announced reforms.
- Estimated GDP growth remains to be the highest prediction so far pointing at 9% growth as estimated by Crisil
Science and Technology
India successfully test fired Agni -I ballistic Missile
- Indigenously built nuclear-capable intermediate range ballistic missile.
- Target–700 km
- Launched from Odisha coast
Free Wi-Fi at Srinagar International Airport
- 4G hotspot-based internet service launched by Bharat Sanchar Nigam Limited (BSNL)
- Users will have access to 15 minutes of free Wifi services.
- Passengers will have to register for an account to use the free Wifi service
Environment and Ecology
Uttar Pradesh government to launch a campaign to protect sparrows
- event has been named as ‘Gauraiya Diwas’
- To create awareness about the conservation of birds.
- to be celebrated on March 20
More than 50 animal species critically endangered
- The data is according to the studies taken by Zoological Survey of India.
- Critically endangered is the highest risk category assigned by the Nature Conservation body.
Fossil of 250 million year old reptile species discovered
- Reptile lived just after the great Permo-Triassic mass extinction event that occurred 252 million years ago
- Species has been named as Teyujagua paradoxa, derived from the language of the Guarani ethnic group and means ‘fierce lizard’
People in News
Indian scholar appointed VC of Canberra University
- Shri H Deep Sain is a noted Indian Scholar and a plant Physiologist.
- He will succeed Vice Chancellor Stephen Parker in September
Naina Lal Kidwai named New Non-executive Director of Altico
- Altico is focused on real estate.
- It is looking to invest about 2, 500 crore every year for five years in the Indian real estate market
Palestinian Hanan Al Hroub Wins 2016 Global Teacher Prize
- Prize is worth $1 million
- Hanan Al Hroub teaches Refugee Children and was a refugee herself
Lin Dan wins 2016 All England Badminton title
- Sixth All England Badminton Championships Title for Lin Din
- He was awarded with a trophy and cash prize of USD 550,000.
Services wins 70th Santosh Trophy football title 2016
- Services beat Maharashtra 2-1 to clinch title for fifth time.