Current Affairs - 1st March 2014
Union cabinet raises D.A. and announces other benefits
The govt. of India raised the dearness allowance (D.A.) for 90 to 100%. Now, DA will be merged with the basic salary. The extended DA will benefit govt. employees as well as pensioners. The govt. also announced Rs.1000 per month of minimum pension under the Employee’s Provident fund Scheme which will come into effect from April 1.
The Union govt. is planning to set up 4 National Institute of Design and 54 new Kendriya Vidyalaya. In one of its major decisions before the general elections, the govt. has raised the working days in MNREGA from 100 to 150 days.
Election commission raises the expenditure limit for elections
In one of its major decisions, the EC has raised the expenditure limit per candidate in the Loksabha elections from 40 lakh to 70 lakh. This means that any person who files for loksabha election can now spend maximum amount of Rs.70 lakh. Similarly, in case of assembly elections the limit has been raised from Rs.16 lakh to Rs.28 lakh.
The government had to amend Rule 90 of the Conduct of Election rules, 1961.
Growth rate of third quarter
India’s GDP grew at 4.7% during the 3rd quarter (October-December) 2013, which was below 5%. The actual growth was less than the one expected by finance ministry that the growth in the 3rd and 4th quarter will be not less than 5.2%.
In other jolt to the economy, the Forex reserve of India fell by $383.7 million in the week ended February 21 to $293.40 billion.
Mission to maintain the Himalayan ecosystem approved
The govt. approved the “National Mission to sustain the Himalayan Ecosystem” for the 12th 5 year plan with an estimated cost of around 550 crore. This mission includes biodiversity, conservation of wildlife and settlement of population in the area. It is also aimed to assist rehabilitation and restoration work in the flood stricken Uttrakhand.
The mission will cover 12 Himalayan states from Jammu and Kashmir to West Bengal. This mission is a part of National Action Plan on Climate Change which was launched in 2008.
Voltas and Dow Chemicals to enter into Joint Venture
Voltas and Dow Chemical Pacific (Singapore), a member of the Dow Group, have agreed to establish a joint venture company in India, to capture the growing water and waste water treatment market in the country.
The new company Voltas Water Solutions Private Ltd will market and distribute standard packaged water treatment and waste water treatment systems of capacity up to 20 m3/hour to residential and commercial complexes and light industrial markets.
