Finance Minister Nirmala Sitharaman presented the budget for the 8th time

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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.