PUNJAB

Hit by slowdown, state misses revenue targets

The economic gloom has not spared Punjab, with the state witnessing one of its worst fiscal performances in recent times. The slowdown has led to the state earning just 11.67 per cent of its budget estimates during the first quarter of 2019-20.

In the corresponding period of last fiscal, the state’s receipts were 15.91 per cent of the previous years’ budget estimates. With the earnings being less, the money at the disposal of the state for spending — both on revenue account and capital — is also less. In spite of this, state’s revenue deficit is high (Rs 773.30 crore), indicating that the state may not be close to fiscal consolidation that Finance Minister Manpreet Singh Badal has been hoping for.

The fiscal indicators for the first quarter — April to June — have revealed that the tax revenue and grant-in-aid from the Centre has shown a dramatic increase over the corresponding quarter of last year. The tax revenue collection (GST, stamps and registration, land revenue, sales tax, excise etc) is higher than last year — 16.80 per cent of budget estimates as compared to 16.24 per cent of estimates in 2018.

The grant-in-aid and contributions received from the Centre, too, are much more than last year’s (Rs 2,629.51 crore as compared to Rs 1,144.60 received last year).

But it is the capital receipts (recovery of loans and advances) where Punjab has fared poorly. It has managed to garner just 4.45 per cent (Rs 8.20 crore) of capital receipts as compared to 17.86 per cent (Rs 57.80 crore) of these receipts recovered in the first quarter of 2018-19.

INTERNATIONAL

· Canada to create a protected marine area in Arctic region

Canadagovernment plans to create a protected marine area in the country’s Arctic region. The move is after a severe climate change that took effect three times faster than global average weather.

Multiple species in the coast of Baffin Island,in Canada’s northeastern Arctic archipelago are threatened by the Glacial melting and maritime traffic.

The move aims to protect marine area in arctic regionsand protect the populations of belugas, narwhals, walruses, seals, polar bears and thousands of other species who depend on year-round sea ice to survive.

NATIONAL

Maharashtra to get world’s first ultra-fast Hyperloop project

Maharashtra has granted infrastructure project status for a $10 billion plan to establish the world’s first ultra-fast hyperloop project.

The projects aim to link Mumbai with the neighbouring city of Pune.

Hyperloops use magnets to levitate pods inside an airless tube, creating conditions in which the pods can shuttle people and freight at speeds of up to 1,200 km per hour.

The status could help fast-track land acquisition for the project over a 117.5 km stretch that will shuttle people between the cities in about 35 minutes.

· State Bank of India and Shanghai becomes first Indian bank to link up with CNAPS

State Bank of India’s Shanghai branch linked to China’s National Advanced Payment System (CNAPS). It is the first Indian Bank to operationalize it. The CNAPS, launched in 2008 by the People’s Bank of China (PBOC) provides real-time settlement services for all payments cleared in China. The CNAPS system is complemented by its international counterpart, the CIPS (China International Payments System or Cross-Border Interbank Payment System) launched in 2015
To boosting international use of the Chinese currency, yuan. The participants from multiple countries across the globe participated.

· RS passed the Repealing and Amending Bill

Rajya Sabhapassed the Repealing and Amending Bill, 2019. The bill will repeal redundant and absolute The Bill was passed by the Lok Sabha on 29 July.

The Bill aims to ensure minimum legislation and maximum governance as it is a continuous process. It will repeal 58 old central lawsthat has been used to achieve maximum governance. A committee constituted by the government has identified 1824 old laws. Previously 1,428 old and archaic central Acts and about 75 laws have been repealed till date.

The Bill will make amendments to two Acts that are related to the substitution of certain words in theIncome Tax Act, 1961 and the Indian Institutes of Management Act, 2017.

The Bill will repeals various Acts, such as the Beedi Workers Welfare Fund Act, 1976,the Tea (Amendment) Act, 1980, the Motor Vehicles (Amendment) Act, 2001, the Central Road Fund (Amendment) Act, 2007, and the Central Universities Act, 2009.

· LS passed Jallianwala Bagh National Memorial Amendment Bill

Lok Sabha, the lower house, cleared theJallianwala Bagh National Memorial (Amendment) Bill, 2019. The amendment will remove the position of Congress president as a permanent memberof a trust that runs the Jallianwala Bagh National Memorial. The Bill was passed with 214 in favour and 30 against it.
After the removal of the Congress chiefas a member, the leader of the single largest Opposition party in the Lok Sabha will be added as a member of the trust.
The amendment bill empowers the central government to terminate the term of a nominated trustee even before the expiry of the tenure without assigning any reason.

· Centre is to prepare National Population Register by 2020 September

Centrehas decided to prepare a National Population Register (NPR) by September 2020 across the country.
The collection of information of all citizens who are residing residing within the jurisdiction of local registar,except Assam, will be undertaken between the 1st day of April, 2020 to 30th September, 2020.The notification regarding NPR was issued by Vivek Joshi, Registrar General of Citizen Registration and Census Commissioner.

The move aims to lay the foundation forpan-India National Register Citizens (NRC). Registering in the NPR is mandatory for every usual resident of India.
NPR aims to create a comprehensive identity database of every usual resident in the country. All the demographic and biometric particulars will be contained in the database.

Gk bit : National Population Register

NPR is generally a register of usual residents of the country. For the entry of NPR, a usual resident can be defined as a person who has resided or intent to live in a local area for past six months or more.

Under the provisions of the Citizenship Act 1955and the sub-rule(4) of rule 3 of the Citizenship (Registration of Citizens and issue of National Identity Cards) Rules, 2003, the NPR will be prepared at the village and the sub-town level, sub-district, district, state and national level. The Centre has made it compulsory that every usual resident of India must register in the NPR.

· UGC recommends 20 educational centres for status of Institutions of Eminence

University Grants Commission (UGC) released a list of 20 institutes .There are 10 public and 10 private for the grant of the status of Institutions of Eminence (IoE).The institutions which are given IoE status from public category includes, Delhi University, BHU, Hyderabad University and IIT Madras and Kharagpur.

The UGC made the recommendations on the report of the Empowered Expert Committee set up by the government under the chairmanship of N Gopalaswami. Jadavpur University and Anna University can be considered for issue of the IoE status only after the respective State Governments have issued an official communication allocating their share of the funds (up to 50%).

Final Destination for Punjab PSC Notes and Tests, Exclusive coverage of PPSC Prelims and Mains Syllabus, Dedicated Staff and guidence for Punjab PSC PPSC Notes brings Prelims and Mains programs for PPSC Prelims and PPSC Mains Exam preparation. Various Programs initiated by PPSC Notes are as follows:-

For any doubt, Just leave us a Chat or Fill us a querry––