National News:–
1.Where is India now in terms of defense budget, know the names of top 10 countries in this area:-
Finance Minister Piyush Goyal has opened a treasure for the defense sector in the 2019 budget presented before the general elections. The Finance Minister announced that the defense budget this time will be more than Rs. Three lakh crore rupees. For the first time in the defense budget, such a large amount of funds has been allocated. Actually, there was demand for much of the budget budget over time in defense sector for a long time. This step has been taken as soon as possible. The second reason is that our neighboring countries, especially China and Pakistan, are continuously fulfilling their defense needs. Not only that, Pakistan and China have had tremendous growth in this area in the last budget. Given this, India’s defense budget is very special.
In 2018, the defense budget came 6th in the world in terms of expenditure. Let’s now know how much of the world’s defense budget is in some bigger countries.
1.America:- The world’s strongest defense budget in the world is $ 596 billion, which is 3.3 percent of the total GDP of the United States.
2.China:- China’s second defense budget is China’s total defense budget of $ 215.0 billion, which is 1.9 percent of China’s GDP.
3.Pakistan:- Pakistan’s defense budget is about $ 9.6 billion. This budget was increased by about 20 percent compared to 2017-18.
4.Saudi Arab:- Saudi Arabia’s defense budget, which produces oil, is $ 87.2 billion, which is 13.2 percent of its total GDP.
5.Russia:- Russia, the world’s largest country, comes fourth in terms of spending on its defense budget. Russia’s total defense budget is $ 66.4 billion, which is 5.4 percent of its GDP. Russia is one of the largest arms exports in the world.
6.Britain:- Britain’s total defense budget is $ 55.5 billion, which is 2.0 percent of GDP of the UK. Britain is ranked 5th in terms of expenditure on defense budgets in the world. Tell you that Britain spends more than any European country on its defense budget.
7.France:- France comes in 7th position on defense budget. France’s total defense budget is $ 50.9 billion, which is 2.1 percent of France’s total GDP.
8.Japan:-In terms of expenditure on defense budget, Japan is ranked 8th in the world. Japan’s total defense budget is $ 43.6 billion, which is 1.4 percent of Japan’s total GDP.
9.Germany:- Germany is 9th in the world in terms of defense spending. Germany’s total defense budget is $ 39.4 billion, which is 1.2 percent of Germany’s GDP.
10.South Korea:-South Korea comes in 10th position on defense budget. Most of the cost of South Korea’s security is in the US, especially that the American warship is always stationed in South Korea’s maritime border.
Business News:
2.Budget 2019: 5 big changes made by Finance Minister in Income Tax, Learn what will happen on your pocket:-
In 2019, income up to Rs 5 lakh was tax-free while giving exemption to the middle class. Prior to this, income up to 2.5 lakh rupees was tax free. At the same time,
the Modi government has made five major changes in the interim budget 2019 to income tax,
- Under Section 87A of Income Tax Act, 1961, the scope of exemption has been increased to 12,500 rupees. This is for them, whose income is up to 5 lakh rupees.
Rebate is the amount of tax, which does not have to be paid to taxpayers.
For example, if a person’s gross income is 6.5 lakh rupees in the financial year 2019-20 and he has invested Rs 1.5 lakh under section 80C, then now he will have to pay tax on income of Rs 5 lakh and his tax liability 12,500 (5 percent of 2.5 lakh). But since the exemption is Rs 12,500, it will have to pay zero tax in the 5 lakh slab.
2.Standard deduction has been increased from Rs 40,000 to Rs 50,000 in this budget. In this, the increase of Rs. 10,000 will reduce tax liability and those who are in the 30% slab, will save up to Rs. 3,000 per person.
- With this, the Finance Minister has also exempted the capital gains arising from investment in two houses. Income of up to Rs 2 crore in this category has been tax-free. At present, the discount is only available at one home.
- In the event of two houses in the budget, the income from one has also been exempted. The working class will get bigger benefits from this discount. There is a proposal to relax the income tax on the estimated rent of the second house. If a person has more than one home then he has to pay income tax on the estimated rent, which has now been tax-free.
According to the existing rules, if you have more than one house then you have to pay a nominal rent at every home.
- With this, the limit of interest on savings deposited in banks or post offices has been increased. At present, TDS had to be paid on the interest income of Rs 10,000, which has now been increased to Rs 40,000.
After the proposed change, a tax of 20 percent on income of up to Rs 10 lakh and 30 percent tax on income of more than Rs 10 lakh is payable.
3.Income tax returns will now be processed in 24 hours, will be given immediately Refund:-
Presenting the last budget of the present government of Modi Government, Piyush Goyal announced several major announcements, which will no longer have to go to the Income Tax office for tax assessment. Mr. Piyush Goyal said that now all income tax returns will be processed in 24 hours and immediate refund will be given. He said that all the problems related to income tax are being solved online and in the next two years the verification of ITR will be online immediately. It will not be the role of a tax officer. For further scrutiny, the office will not have to go.
4.Prime Minister Modi will inaugurate 13th International Petroleum and Gas Conference:-
Prime Minister Narendra Modi will inaugurate the 13th International Petroleum and Gas Conference- Petrotech 2019 in Greater Noida’s India Expo Mart on February 10. The Minister of Petroleum and Natural Gas has invited more than 95 Energy Ministers of Allied countries to the conference.
Sports News:
5.Indian women cricket team won series, New Zealand won match:-
Indian women’s cricket team suffered a 8-wicket defeat in the third and final ODI on Friday by New Zealand. New Zealand, who were invited to bat first, were all-out by making 149 runs in 44 overs. In reply, New Zealand achieved the target by losing two wickets in 29.2 overs. This is New Zealand’s consolation win because the Indian women’s cricket team, led by Mithali Raj, had already made an unbeatable 2-0 lead in the series. Team India has made its name from the current series 2-1. Explain that the Indian team has its name in the one-day series on the overseas pitch for the second one-day series. Earlier, he had defeated South Africa in his house.
6.Mithali Raj remains the world’s first woman cricketer to play 200 ODIs:-
The third and final match of the series between the Indian and New Zealand women team is being played at Hamilton’s Sudden Park Cricket Ground. Mitali Raj made history when he landed for the toss. This is his 200th ODI ODI career. He is the first woman cricketer to reach this figure. Not only that, it is his 123th match as the captain, which is recorded. Mithali made his debut in June 1999 and played his first ODI match against Ireland. The record of making the highest runs in women’s cricket is also Mithali’s name. He has scored 6622 runs in ODIs.
