12-03-22 Daily-Haryana-HPSC Current Affairs

There has been no new tax in the Rs 1.77 lakh crore Budget, presented by the Haryana government on Tuesday which has emphasis on economic growth, ease of living for citizens and initiatives for women.

Chief Minister Manohar Lal Khattar, who also has the Finance Department under him, said it lays emphasis on spurring growth through increased infrastructure investment. The Budget envisioned five developmental forces through the ‘Vajra Model’ for enhanced economic growth and human development, ease of living for citizens, lifting the poor and disadvantaged from all socioeconomic groups, leveraging productivity through increased adoption of technology accompanied by employment and entrepreneurship.

Among its focus areas are initiatives for women to boost infrastructure, agriculture and overall growth.

Khattar proposed a Budget of Rs 1,77,255.99 crore for the financial year 2022-23, a rise of 15.6 per cent over the Budget size of Rs 1,53,384 crore in 2021-22. The Budget outlay comprises 34.4 per cent as capital expenditure at Rs 61,057.36 crore and 65.6 per cent as revenue expenditure at Rs 1,16,198.36 crore.The debt liability is likely to go up to Rs 2,43,779 crore in the financial year 2022-23, from Rs 2,23,768 crore as of March 2022.

In Budget Estimates (BE) 2022-23, the total revenue receipts are projected to be at Rs 1,06,424.70 crore. They comprise tax revenues of Rs 73,727.50 crore, non-tax revenues of Rs 12,205.86 crore, share of central taxes of Rs 8,925.98 crore and a grant-in-aid of Rs 11,565.86 crore. Besides this, capital receipts are projected to be Rs 5,393.89 crore. The fiscal deficit is estimated to be 2.99 per cent of GSDP in 2021-22 and for FY 2022-23, it is expected to be within the prescribed limit of 3.5 per cent by the 15th Finance Commission, at 2.98 per cent of GSDP as per BE for 2022-23.

The central government plans to spread the message on the way various social welfare schemes have benefitted the masses, including women, and people from SC and ST communities.

After a thorough review, the government will launch a campaign to amplify the schemes and their benefits extended across India.

According to the government, such schemes asUjjwala,Pradhan MantriAwasYojna, and rural employment programme have benefitted lakhs of families by way of employment generation, affordable housing, and cooking gas facility.

Petroleum, rural development, women and child development, social justice and empowerment, and minority affairs are some of key ministries which have earmarked substantial funds from their budgets for such social welfare schemes.

The Supreme Court named AK Sikri, as chairperson of the High-Powered Committee (HPC), which will assess the Chardham projects cumulative and independent impact on the entire Himalayan valley.

The objective of the Chardham Pariyojana is to improve connectivity to the Chardham pilgrimage centres in the Himalayas i.e. Kedarnath, Badrinath, Yamunotri, and Gangotri, making journeys to these centres faster, safer, and more convenient. 900 kilometers of highways, including the Tanakpur-Pithoragarh stretch of National Highway (NH) 125, which is part of the Kailash Mansarovar Yatra route will be widened under this project.

The Union Cabinet on Wednesday approved the setting up of the National Land Monetization Corporation (NLMC) to monetise surplus land and building assets of Central Public Sector Enterprises (CPSEs) and other agencies linked to the Government.

NLMC will have an initial authorised share capital of Rs 5,000 crore and paid-up share capital of Rs 150 crore.

Railways, Telecommunications and Defence are among key ministries holding the maximum surplus land, while parcels of several CPSEs are in prime areas with good potential.

The NLMC will own, hold, manage and monetise surplus land and building assets of CPSEs under closure and surplus non-core land assets of Government-owned CPSEs under strategic disinvestment. This will speed up the closure process of CPSEs and smoothen the strategic disinvestment process of Government-owned CPSEs.

While the Government had set a target of Rs 1.75 lakh crore through disinvestment in its Budget estimates in 2021-22, the target has been revised to Rs 78,000 crore for the year 2022-23, the target is Rs 65,000 crore.

NLMC will hire professionals from the private sector as in the case of similar entities like the National Investment and Infrastructure Fund (NIIF) and Invest India.

According to available Government data, the total land available with the Railways is 4.78 lakh hectares (11.80 lakh acres) of which 4.27 lakh hectares is under operational and allied usage while around 0.51 lakh hectare (1.25 lakh acres) is vacant.

A bill seeking to establish a National Forensic Sciences University as an institution of national importance by upgrading the Gujarat Forensic Sciences University in Gandhinagar was introduced in Lok Sabha recently.

The statement of objects and reasons of the bill states that forensic sciences, criminology and applied behavioural sciences play a critical role in criminal investigations and prevention of crimes.

Criminal justice covers the entire gamut of processes through which crimes are investigated, criminals identified and apprehended, judged, punished and steps taken to prevent recidivism.

Conservative South Korean opposition candidate Yoon Suk-yeol was elected presidentof South Koria

Around 77% of South Korea’s 44 million eligible voters cast ballots to pick the leader of a nation whose global status is rising even as it has been riven by gender and generational divisions, while facing a confrontational North Korea.

The winner must tackle challenges including South Korea’s worst wave of COVID-19 infections, growing inequality and surging home prices, while navigating an increasingly tense rivalry between China and the United States.

Voters also want the new president to root out graft and pursue negotiations to curb North Korea’s nuclear ambitions.