Union Budget 2016-17 : Important Highlights / Announcement

A slew of schemes, and income tax exemptions announced to support small tax-payer and small investor.

Key highlights :

  • – Forex reserves are at highest level at $350 billion’
  • – 2016: Current account deficit seen at 1.4% of GDP’
  • – 3 schemes to address weaker sections’
  • – GDP growth has accelerated to 7.6%. CPI inflation has come down to 5.4%.
  • – FY 16-17 will have the additional burden of implementing the VII pay commission and the defence OROP.
  • – New scheme for BPL families for gas connections. Staturtory backing for Aadhaar platform to ensure delivery of benefits. Etc

Ek Bharat Shreshtha Bharat programme to be launched

  • ‘Ek Bharat Shrestha Bharat’ programme will be launched to link States and Districts in an annual programme that connects people though exchanges in areas of language, trade, culture, travel and tourism.
  • it is proposed to create a closer engagement between States and Districts in a structured manner.

Kerala to be declared as first digital state by President

  • Pranab Mukherjee will declare Kerala as the first digital state of the country on 27th February,2016.
  • Pinning another feather on the cap of the southern state that boasts of many firsts in the human development index.
  • It will be the 1st fully digitised state With high e-literacy rate and mobile penetration (32 m connections).

Naveen Patnaik : BJD President for 7th Consecutive Term

  • Odisha CM Naveen Patnaik was formally declared elected as the president of the Biju Janata Dal (BJD) for the 7th consecutive term.
  • Besides Naveen, 80 others were elected unopposed to the State executive of the party.

Indian President Pranab Mukherjee : Chief Guest at 40th Indian Civil Accounts Service tomorrow.

  • The event will be celebrated in New Delhi.

Dinesh Sharma : Chairman of Governing Council of IFAD.

  • He was unanimously elected as the Chairperson of the Governing Council of IFAD for a period of two years in its 39th Session held in Rome, Italy.
  • IFAD was setup in 1977 as the 13th Specialized Agency of the United Nations and works towards removing poverty and hunger in rural areas all over the world.
  • India is a founder member of IFAD and a key contributor among the member countries.

Resul Pookutty : First Asian to win Golden Reel Award

  • He won the award for Best Sound for Best Sound for documentary India’s Daughter at the Motion Picture Sound Editors’ (MPSE) 63rd annual Golden Reel Awards.
  • Pookutty made his debut in sound design with the 1997 film Private Detective: Two Plus Two Plus One, directed by Rajat Kapoor.
  • Vinod Bai appointed Chairman of Newly Constituted Banks Board Bureau (BBB).
  • His appointment comes after Prime Minister has approved the proposal of the Department of Financial Services for the constitution of the BBB.
  • He is former Comptroller and Auditor General(CAG) from January 2008 and May 2013.

Nihal Ahmed Maulavi, former Maharashtra minister Nihal Ahmed Maulavi Mohammed Usman passes away.

  • He was 90. He was the former Maharashtra Minister of technical and higher education, state president of Janata Dal (Secular) and former legislator in the state Assembly for nearly three decades.
  • Popularly known as Nihalbhai, first mayor of the Malegaon Municipal Corporation passed away in Nashik

Oscar Awards 2016 announced ; Film Mad Max : Fury Road wins maximum awards

  • 88th Academy Awards, popularly called Oscar Awards, were conferred on 29 February 2016.
  • The award ceremony was held at the Dolby Theatre in Hollywood, Los Angeles.
  • Chris Rock hosted the ceremony and Indian Bollywood actress Priyanka Chopra made her debut on the Oscars red carpet and presented the award.
  • The Oscar Awards for the year 2016 were presented by the Academy of Motion Picture Arts and Sciences (AMPAS) in 24 categories.

National Science Day Observed : Theme : Scientific Issues for Development of the Nation

  • The day is observed annually to mark the discovery of the Raman Effect (phenomenon of scattering of photons) by Indian physicist Sir Chandrasekhara Venkata Raman on 28 February 1928.
  • Raman was awarded with the Nobel Prize in Physics in 1930 for his discovery and this was the first Nobel Prize for India in the field of Science.

100 crore allocated for celebrating birth anniversary of Pt. Deen Dayal Upadhyay and 350th birth anniversary of Guru Gobind Singh

While presenting the General Budget 2016-17 in Lok Sabha today, the Union Finance Minister Shri Arun Jaitley said that in 2017, the country will also celebrate the 70th Anniversary of our Independence.

Government will chalk out milestones for nation’s journey beyond the 70th Anniversary of Independence.

BK Garudachar , India’s Oldest first class cricketer passes away.

He represented Mysore (as Karnataka was called till 1974), United Province and Bombay, died in Bangalore.

Also Read: What is Tag Question in English 

Kumarimuthu, famous Tamil comedy actor passes away

  • Famous Tamil Comedy actor Kumarimuthu died in Chennai. He was 77.
  • He made his acting debut in Ival Oru Seethai in 1978. After the film Nandu written and directed by J Mahendran, he got many offers.
  • He acted more than 500 films in Kollywood and did a variety of roles through his humorous acts.


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