The new BJP chief : Amit Shah Amit Shah was unanimously chosen for the Party�s top post ata meeting of its Central Parliamentary board. He is credited with the BJP�s spectacular victory in lok Sabha elections.He is the youngest President of the BJP and will succeed Rajnath Singth. Since last two months anyone who has been following the current affairs in newspapers daily might have come across this word EL Nino and its association with monsoon. Let us know what actually is El Nino and why farmers and Indian govt are so much worried over the ill effects caused by it: El Nino
El nino is associated with a band of warm ocean water temperature that periodically develops off the Pacific Coast of South America.
It is a phase of �El Nino Southern Oscillator � which refers to variations in the temperature of the surface of the tropical eastern Pacific Ocean and in air surface pressure in the tropical western Pacific.
Developing countries dependent upon agriculture and fishing, particularly those bordering the Pacific Ocean, are the most affected.
All such episodes of severe drought correlate with El Nino Southern Oscillation (ENSO) events. El Ni�o-related droughts have also been implicated in periodic declines in Indian agricultural output. Nevertheless, ENSO events that have coincided with abnormally high sea surfaces temperatures in the Indian Ocean�in one instance during 1997 and 1998 by up to 3 �C (5 �F)�have resulted in increased oceanic evaporation, resulting in unusually wet weather across India. Such anomalies have occurred during a sustained warm spell that began in the 1990s. A contrasting phenomenon is that, instead of the usual high pressure air mass over the southern Indian Ocean, an ENSO-related oceanic low pressure convergence center forms; it then continually pulls dry air from Central Asia, desiccating India during what should have been the humid summer monsoon season. This reversed air flow causes India’s droughts. The extent that an ENSO event raises sea surface temperatures in the central Pacific ocean influences the degree of drought. Around 43 per cent of El Ni�o events are followed by drought in India.
Finance Minister Arun Jaitley presented the Union Budget 2014-15. Highlights of the Budget: No change in income tax rates; personal income tax exemption limit raised from Rs 2 lakh to Rs 2.50 lakh Propose to increase investment limit under Section 80C from Rs 1 lakh to Rs 1.5 lakh Tax exemption on interest component on housing loan raised to Rs 2 lakh from Rs 1.5 lakh Tax exemption limit for senior citizens changed from Rs 2.5 lakh to Rs. 3 lakh 10 year tax holiday for power companies who start production and distribution on March 31, 2017 Revenue deficit pegged at 2.9 per cent of GDP Budget proposes Plan expenditure of Rs 5,75,000 crore for current ficsal. Annual PPF ceiling to be enhanced to Rs 1.5 lakh, from Rs 1 lakh Airports to be developed in tier 1 and 2 cities, 16 new port projects to be awarded this year Investment in NHAI and state highways to the tune of Rs 37,887 crore, including Rs 3000 crore for North East Govt committed to providing 24×7 power supply to all homes: FM Single KYC norms for all financial services and one demat account for all financial products Rs 500 crore for solar power development project in Tamil Nadu and Rajasthan Rs 11,600 cr for developing outer harbour projects Rs 11,600 cr for developing outer harbour projects Mining issues to be resolved on priority Govt proposes to set up 100 smart cities. Govt to provide Rs 7,060 crore for development of such cities: 20 new industrial clusters announced We will examine proposal to give greater autonomy to banks: FM. Budget proposes 49 per cent FDI in insurance through FIPB route Propose to provide finance to 5 lakh landless farmers through NABARD Manufacturing units will be allowed to sell their products through retail and e-commerce: Jaitley. Committed to sustaining 4% growth in agriculture, extend credit to joint farming groups Rs 500 crore allocated for stabilizing prices of agricultural commodities Rs 3600 cr set aside for National Rural Drinking Water: FM We will examine proposal to give greater autonomy to banks: FM. Budget proposes 49 per cent FDI in insurance through FIPB route Propose to provide finance to 5 lakh landless farmers through NABARD Manufacturing units will be allowed to sell their products through retail and e-commerce: Jaitley. Committed to sustaining 4% growth in agriculture, extend credit to joint farming groups Rs 500 crore allocated for stabilizing prices of agricultural commodities Rs 3600 cr set aside for National Rural Drinking Water: FM Rural housing: Rs 8000 crore for national housing banking programme FM announces development of Metro rails in PPP mode; Rs. 100 cr set aside for metro scheme in Ahmedabad and Lucknow Each year government will be adding AIIMS to ensure there is an AIIMS in every state: Jaitley Rs 100 crores to set up virtual classrooms Rs 500 crores for setting up 5 more IIMs and IITs FM Proposes to enhance the scope of income tax settlement commission Rs 7,060 crore allocated for building new cities Jaitley announces e-visas to promote tourism The government is committed to the welfare of scheduled castes and tribes. Rs 200 crores credit scheme for start-ups by those from scheduled castes and tribes Government is committed to providing 24×7 electricity in all houses Jaitley announces Skill India, a programme to train youth for jobs Equity in PSU banks to be raised through share sale to the public Rural housing: Rs 8000 crores for national housing banking programme MGNREGA programme to made more productive Women’s safety: Rs 100 crores for Beti Bachcao, Beti Padhao Yojana Senior Citizens Pension Plan Extended Till August 2015 Aim to achieve 7-8 per cent economic growth rate in next 3-4 years: FM We need to revive growth particularly in manufacturing sector and infrastructure: FM Anti-poverty programmes will be targeted well. Will leave no stone unturned to create a vibrant India: FM. Note : The budget that came in the first week of March was the Interim Budget also known as �Vote on Call�
