HARYANA

State’s internal debt grew by 23 pc last year, says CAG

Although Finance Minister Capt Abhimanyu projected a very rosy picture of the state’s finances during the Budget session, the report of the Comptroller and Auditor General (CAG) does not find the fiscal condition of the state in the pink of health.

The CAG report for the year ending March 31, 2017, placed before the Assembly yesterday says that the internal debt of the state increased by 23.04 per cent from Rs 99,660 crore in 2015-16 to Rs 12,2617 crore in 2016-17.

Further, 83 per cent of the non-plan revenue expenditure (NPRE) of Rs 46,284 crore was on four components – salary and wages, pension liabilities, interest payments and subsidies. Moreover, 86 per cent (Rs 6,619 crore) of total subsidies (Rs 7,654 crore) were only from the energy sector.

The report says that the average return of the government’s investment in statutory corporations, rural banks, joint stock companies and cooperatives varied between 0.05 and 0.17 per cent in the past five years while the government paid an average interest of 8 to 9.86 per cent on its borrowings.

The revenue deficit which was required to be brought down to zero per cent during 2011-12 and to be maintained at zero up to 2014-15 increased from Rs 11,679 crore in 2015-16 to Rs 15,906 crore in 2016-17.

The CAG found that the cash balance investment account of the state at the end of 2016-17 decreased by Rs 1,618.27 crore and earned interest between 5 and 5.5 per cent while the government borrowed at an average of 8 per cent. The overall fiscal liabilities of the state were Rs 1,22,617 crore as on March 31, 2017. The fiscal liabilities were 26.74 per cent of the GSDP and 2.79 times of the revenue receipts.

An interest of Rs 9,140 crore was paid on internal debt during 2016-17, the resources gap remained negative and the primary expenditure was met partially from the borrowed funds. “The revenue receipts during 2016-17 increased by Rs 4,940.27 crore (10.39 per cent) over the previous year mainly due to the increased tax revenue of Rs 3,096.59 crore (10.01 per cent). However, tax revenue fell short by 27.64 per cent and non-tax revenue increased by 43.82 per cent of the targets fixed by the 14th Financial Commission,” the report said.

INTERNATIONAL

INDIA and ADB Sign $120 Million Loan to Improve Rail Infrastructure

Government of India and the Asian Development Bank (ADB) have signed a $120 million loan agreement for completion of works for double-tracking and electrification of railways tracks along high-density corridors to improve operational efficiency of Indian railways.

The tranche 3 loan is part of the $500 million multi-tranche financing facility for Railway Sector Investment Program approved by the ADB Board in 2011.

The loan amount will be used to complete the ongoing works commenced under earlier tranches.

· WEF Energy Transition Index 2018: India Ranks 78th, Sweden Tops

India ranked at 78th, lower than its emerging market peers like Brazil and China, among 114 countries on the World Economic Forum’s (WEF)energy transition index.
The list was topped by Sweden.
The report titled ‘Fostering Effective Energy Transition’ ranks countries on how well they are able to balance energy security and access to environmental sustainability and affordability.
The Top 5 Countries in the List are-
Sweden,
2. Norway
3. Switzerland
4. Finland,

Denmark.

· WHO Member-Countries Commit To End TB By 2030

Member-countries of the World Health Organisation (WHO) South-East Asia Region, including India, committed to intensifying efforts to eradicate tuberculosis by 2030.
The summit sets the stage for the September 2018 United Nations high-level meeting on TB, wherein the issue will be discussed at the Heads of State level. The UN meeting is likely to endorse a set of goals to put the world on course to ending TB.

India to host International Competition Network Annual Conference for the first time

India to host 17th Annual Conference of International Competition Network 2018 (ICN2018) from 21st to 23rd March 2018 in New Delhi.

While addressing the press conference, Competition Commission of India’s Chairperson Shri Devender Singh Sikri said that this is the first time India is hosting the ICN2018 Annual Conference since it joined International Competition Network (ICN) in 2009.

CCI Chairperson Shri Sikri said that the ICN is an informal network comprising 138 competition authorities from 125 jurisdictions.

NATIONAL

NITI Aayog to Release SATH-E Roadmaps

SATH-E to introduce System-wide Governance Transformation in School Education

NITI Aayog will release comprehensive roadmaps and detailed timelines for its initiative ‘Sustainable Action for Transforming Human Capital in Education (SATH-E)’ project at NITI Aayog on March 17.

Shri Amitabh Kant, CEO, NITI Aayog and the Chief Secretaries of the States of Jharkhand, Madhya Pradesh and Odisha will release the forward looking blueprints after a day-long workshop with Principal Secretaries of the States, State Project Directors and other experts and representatives operating in the field.

More than 17 lakh beneficiaries enrolled under Pradhan Mantri Matru Vandana Yojana
Number of beneficiaries enrolled under Pradhan Mantri Matru VandanaYojana (PMMVY) has increased to 17,66,423.

Every day on an average, around 50, 000 new applications are received for enrolment.

So far, Rs. 2048.21 Crores to all 36 States/UTs have been sanctioned under PMMVY out of which Rs. 2042.09 Crores have been released till date.

The Government of India has approved Pan-India implementation of PMMVY in all districts of the country from 01.01.2017 under which the eligible beneficiaries get Rs. 5,000/- under PMMVY and the remaining cash incentive as per approved norms towards Maternity Benefit under Janani Suraksha Yojana (JSY) after institutional delivery so that on an average, a woman gets Rs. 6000/-.

· Sach-Gaurav: Indias first cloned Assamese buffalo born

The Central Institute for Research on Buffaloes (CIRB)claimed that India’s first cloned Assamese buffalo male calf named Sach-Gaurav was born in Hisar, Haryana.
It was born to Murrah buffalo, at Hi-Tech Sach Dairy Farm, 100 km from cloning laboratory, making it first buffalo calf to be born.

Rahul is Wisden India Almanack’s Cricketer of the Year

KL Rahul is the ‘Cricketer of the Year’ in the sixth edition of Wisden India Almanack, which has just been released.

The Almanack pays a tribute to India’s women cricketers, with a wonderful cover picture of celebration at the World Cup.

Shantha Rangaswamy, India’s first woman superstar, has been inducted into the Wisden India Hall of Fame alongside Erapalli Prasanna.

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