1. Finance Minister Nirmala Sitharaman presented the budget for the 8th time
Finance Minister Nirmala Sitharaman presented the budget for the 8th time on February 1. A total budget of Rs 47,16,487 crore has been passed. Salaried people will not have to pay any tax on income up to ₹ 12.75 lakh annually if they choose the new tax regime . The government gives a standard deduction of Rs 75,000 to salaried people . The Finance Minister said that under the new tax regime, tax on income of Rs 0-4 lakh will be zero. At the same time, tax rate will be 5 percent on income of Rs 4-8 lakh, 10 percent on income of Rs 8-12 lakh, 15 percent on income of Rs 12-16 lakh, 20 percent on income of Rs 16-20 lakh, 25 percent on income of Rs 20-24 lakh and 30 percent on income of more than 24 lakh. Along with this, big announcements were made regarding education, health etc. In the budget, the fiscal deficit target for the financial year 2025-26 has been reduced to 4.4 percent of GDP, while it has been set at 4.8 percent for the financial year 2024-25. The budget launched the National Manufacturing Mission to increase manufacturing in the country. In this, small, medium and large industries will be supported to support ‘ Make in India ‘. During his speech, the Finance Minister said that this mission will provide policy support, execution roadmap, governance and monitoring framework to both central ministries and states.
2. Big announcement for Bihar in the Union Budget, ‘Makhana Board’ will be formed
Union Finance Minister Nirmala Sitharaman is presenting the budget for 2025-26 in the Lok Sabha . During this, she has given a big gift to the farmers of Bihar . The Union Finance Minister has announced the establishment of Makhana Board in Bihar to promote the production, marketing and processing of Makhana . It is believed that this announcement will prove beneficial for the farmers of Bihar and the formation of Makhana Board can bring more benefits to the farmers. At present, Makhana is cultivated in about 35 thousand hectares in Bihar. 25 thousand farmers are associated with it. Bihar is the state producing the most Makhana in the country.
3. NITI Aayog organised one-day national workshop on Circular Economy in Jaipur, Rajasthan
NITI Aayog organized a ‘ National Workshop on Circular Economy ‘ on January 30, 2025 in Jaipur, Rajasthan . The workshop was organized by Green Transition and Climate Change Division under the State Support Mission of NITI Aayog, primarily focused on two sectors: End of Life Vehicles (ELVs) and End of Life Tyres (ELTs). It was attended by various industry stakeholders including manufacturers, recyclers, officials of the Government of India and representatives of State Governments. The workshop was inaugurated by Shri Naresh Pal Gangwar, Additional Secretary, Ministry of Environment, Forest and Climate Change, who emphasized the importance of circular economy to help achieve our goal of making India a developed country by the year 2047.
4. Trump imposes 25% tariffs on Canada-Mexico, 10% on China
US President Donald Trump has imposed 25% tariff on Canada and Mexico and an extra 10% tariff on China from February 1. He has signed an executive order regarding this. On Friday, White House spokesperson Caroline Levitt said that Donald Trump will impose import tariff on Canada and Mexico from Saturday. US President Trump said, this tariff is being imposed so that illegal fentanyl drug does not reach America from these countries. Fentanyl is a powerful synthetic opioid. Its overdose reduces the supply of oxygen to the brain. This drug can cause a person to go into coma or even cause death.
5. Train trial took place on Pamban Bridge of Rameswaram
Train trial of the country’s first vertical liftup bridge took place. The Pamban Bridge built in Rameswaram is the first such bridge in the country. Its length is 2 km. Trains will run at a speed of 75 km per hour on this bridge. Two rail tracks have been laid in it and during the operation of trains, when there is no traffic, the slab of the bridge will be raised , so that the movement of ships in the sea can continue. This bridge connects Rameswaram to Tamil Nadu . This bridge is built on the Bay of Bengal . Rameswaram is a major pilgrimage site of Hinduism, where Lord Shri Rama installed Shivalinga and worshiped. This site is considered one of the four Dhams and devotees from all over the country come here for darshan. The old Pamban Bridge was constructed in 1914, which connected Rameswaram and Pamban Island for 105 years. However, it was closed in December 2022 due to rusting and security reasons.
6. European Outdoor Championships: India’s Tejas Shirse wins silver medal in men’s 60m hurdles
India’s Tejas Shirse won the silver medal in the men’s 60m hurdles at the European Outdoor Championships in France . He also set a new national record with a timing of 7.64 seconds . Spain’s Enrique Llopis won the gold medal with a timing of 7.55 seconds , while France’s Wilhelm Belocian won the bronze medal with 7.67 seconds.
7. Indian Railways launches ‘Swarail’ superapp for beta testing
Ministry of Railways has introduced Super App ‘ SwRail ‘, a one-stop solution providing comprehensive railway services to common people. Currently in beta testing, the app is available for download on Google Play Store and Apple App Store. The main focus of the app is to enhance user experience with an intuitive and clean user interface (UI). It integrates various railway services , eliminating the need for multiple applications and will reduce space consumption on user devices. The app caters to a wide range of user needs, including:
- Reserved ticket booking
- Unreserved Ticket and Platform Ticket Booking
- Parcel & Freight Inquiries
- Train & PNR Status Enquiry
- Ordering food in trains
- Rail Help for Grievance Management
8. Government provides full financial support for athletes of 9th Asian Winter Games
For the first time, the Government of India has decided to provide full financial assistance to the Indian contingent participating in the Asian Winter Games under the Assistance to National Sports Federations (ANSF) scheme . The Union Ministry of Youth Affairs and Sports has announced the inclusion of the Indian contingent participating in the 9th Winter Asian Games to be held in Harbin city of China under its ANSF scheme. The Chinese city of Harbin is hosting the 9th Asian Winter Games from 7-14 February 2025. Harbin is hosting the Winter Asian Games for the second time, having hosted it in 1994. Under the ANS scheme, the Government of India provides financial assistance to National Sports Federations (NSFs) for training of athletes, appointment of foreign coaches, support staff, etc. for participating in international and national events.
9. Smriti Mandhana, Jaspreet Bumrah won Polly Umrigar Award
Jasprit Bumrah and Smriti Mandhana will be given the Polly Umrigar Award for the best international cricketer in the women’s and men’s categories for their good performance in 2023-24 . These awards will be given on February 1 at the BCCI’s annual event . Jasprit has also won the Test Cricketer of the Year award. He took 71 wickets in 13 Tests last year. He also achieved 900 rating points in the ICC Test bowlers rankings. He is the number-1 bowler in the Test rankings. Mandhana has also received the Women’s ODI Cricketer of the Year award in 2018 and 2022 before 2024. She scored 747 runs in 13 matches in 2024. Smriti’s 747 runs are the highest number of runs scored by her in a calendar year. She batted at an average of 57.86 and a strike rate of 95.15 last year.
10. Manoj Kumar announces retirement
Commonwealth Games gold medallist boxer Manoj Kumar has announced his retirement and will now start a new innings as a coach. The boxer, who competes in the light welterweight (64kg), won his first and only Commonwealth Games gold medal in 2010 Delhi . Two-time Olympian Manoj reached the pre-quarterfinals in both 2012 London and 2016 Rio de Janeiro. Now he will coach at the boxing academy he has set up with his elder brother and coach Rajesh Kumar in Kurukshetra. Manoj is also a two-time bronze medallist at the Asian Championships. He won his second and last bronze medal at the Commonwealth Games at the 2018 Gold Coast Games.