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News Highlights provides you with the best compilation of the Daily News Highlights taking place across the globe: National, International, Sports, Science and Technology, Banking, Economy, Agreement, Appointments, Ranks, and Report and General Studies
1.
The Centre's decision to slash the in-come tax payer's burden was aimed at addressing some "angst" that it had noticed in recent months as well as to give a fillip to the economy's weakening growth impulses with a broad-based boost to demand, savings, and in-vestments, Finance Secretary said. It will come back and the economy will get a boost," he said, adding that "distributing wealth increases wealth". The Centre will forgo ₹1 lakh crore by making annual incomes up to ₹12 lakh tax-free and rejigging tax slabs and rates.
2.
India's 21st Livestock Census will count 16 species cattle, buffaloes, sheep, goats, horses, donkeys, camels, pigs, dogs, chicken, ducks, geese, and yaks and their 219 breeds. Begun in October 2024, the Central government officials hope that the survey results will be out by July 2025. Over 2.1 crore people in India are engaged in lives-tock farming. The camel population reduced to 2.5 lakh, at a 37.1% decrease from five years before. Similarly, the number of pigs declined by 12.03%, and the number of horses and ponies decreased by 45.2%. Donkeys saw a decrease of 61.2% and mules came down by 57.1%. Poultry, though, had increased by 16.08%.
3.
The fiscal consolidation target of 4.4% of GDP in FY26 is a key highlight of the Budget. However, achieving this target hinges on ambitious revenue projections, including a 11.2% growth in total tax revenues and a 14.4% increase in income tax revenues compared to FY25 estimates. The estimated ₹11.54 lakh crore in net market borrowings risks crowding out private capital at a critical juncture when credit demand remains tepid. Achieving the ambitious revenue targets will require improved tax buoyancy, more efficient tax administration, and realistic asset monetisation strategies to ensure that the fiscal consolidation plan remains on track.
4.
One of announcements in the Budget that has been most widely welcomed is the significant cut in personal income-tax, with complete exemption extended to individuals earning up to 12 lakh per year. This limit will be ₹12.75 lakh for salaried tax-payers because of the standard deduction of ₹75,000. Another key highlight of the Budget is the allocation of ₹11.2 lakh crore for capital expenditure for 2025-26, marking an increase of nearly 10% from the actual expenditure in the current fiscal year. This enhanced spending can drive infrastructure development, boost employment generation, and catalyse economic activity across sectors. And, of course, it strengthens the nation's logistical and industrial backbone, ensuring long-term sustainable growth.
5.
Latest advances made by M23, a rebel coalition, capturing the mineral-rich city of Goma, is a humiliating setback for the Congolese government, which had vowed to crush the rebellion in the east. M23, which takes its name from a failed peace agreement signed between a Tutsi-led rebel group and the Congolese government on March 23, 2009, claims it is fighting to protect the rights of Congo's Tutsi ethnic minority. Congo and UN experts say neighbouring Rwanda, ruled by a Tutsi-led government, is backing M23. In 2012, shortly after it was founded, M23 seized much of Goma.
6.
The Finance Minister had announced a Prime Minister's Package of five schemes and initiatives to facilitate job and internship opportunities for 4.1 crore youth over a five-year period with a central outlay of ₹2 lakh crore. However, the Budget speech delivered in Parliament on February 1, 2025, did not refer to the Prime Minister's Package even once. The document on implementation of Budget 2024-25 announcements states that a "draft Cabinet note on Employment Linked Incentive scheme is under finalisation" and "several meetings have been held with the Ministry of Labour and CII to discuss the relationship between capital expenditure and employment generation". The September 2024 report of the Periodic Labour Force Survey (PLFS) revealed that in 2023-24, the youth unemployment rate (for those aged 15-29 years) had increased to 10.2% and the unemployment rate among graduates was 13%. The latest Economic Survey also shows that average real earnings of self-employed male workers in India fell from ₹9,454 in 2017-18 to 28,591 in 2023-24. The monthly real wages of regular/salaried male workers also fell from an average of 12,665 in 2017-18 to 11,858 in 2023-24.
7.
Subsidies can be defined in different ways production, consumption, explicit, implicit people can quote different numbers to this question, ranging from hundreds of billions of U.S. dollars to as much as $7 trillion. Explicit subsidies: government payments to make fossil fuels cheaper. These payments can either go towards fossil fuel producers so that the extraction and refining cost is lower (called 'production subsidies') or to consumers so they can buy fossil fuels cheaper than the market price (called 'consumption subsidies'). Global explicit subsidies for fossil fuels amounted to around $1.5 trillion in 2022. That is equivalent to the entire GDP of countries like Russia or Australia. Around 80% of these explicit subsidies went to consumers and the rest into fossil fuel production
8.
U.S. President Donald Trump issued an executive order stating that U.S. citizenship will be granted in the future only to children with parents holding U.S. citizenship or a U.S. green card. There are two important legal systems based on which citizenship is acquired in various countries. One of them is 'jus soli' which means 'right of soil.' Under this principle, a child's citizenship is determined by his or her place of birth irrespective of the citizenship of their parents. The other is 'jus sanguinis' which means 'right of blood.' Under this principle, a child's citizenship is determined by the citizenship of parents. The U.S. has practised the grant of citizenship based on the 'jus soli' principle. The 14th amendment to the U.S. Constitution, adopted in 1868, states that 'all persons born or naturalised in the United States, and subject to the jurisdiction thereof, are citizens of the United States.' Between July 1987 and December 2004, it was required that either of the parents of a child born in India was a citizen of India for granting citizenship. Since December 2004, the requirement was further restricted.
9.
The Human Genome Project, launched in 1990 and concluded in 2003, enabled the documentation and analysis of the building blocks of human DNA, revealing patterns that could indicate the likelihood of developing rare diseases or carrying genetic abnormalities. Bootstrapped healthcare startup, Gene Box, leverages AI primarily to process vast amounts of genetic data swiftly and accurately, uncovering patterns and insights that would be nearly impossible to identify manually. For instance, a diagnosis could change in the future or may not present the full picture, often falling under the grey zone of significance. "These are known as 'variations of unknown significance.' For example, research has linked about 80 genes to Alzheimer's. While genetic testing can identify the risky genes, that doesn't mean the patient is bound to get it. The tests simply assess the genetic risk by identifying certain genetic variations that are associated with Alzheimer's. Consequently, a patient can also develop Alzheimer's without having any of the associated gens.
10.
Falling short of the 100 days of work guaranteed under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), average workdays per household under the scheme had come down to just 44.62 days in 2024-25 from 52.08 days in 2023-24, a consortium of non-profit organisations said. The number of person days fell from 312.37 crore in the financial year 2023-24 to 239.67 crore in 2024- 25. The term “person days" refers to the total number of workdays by a person registered under the MGNREGS in a financial year.
11.
The Labour Ministry got its highest-ever allocation in this year's Union Budget, and the increase in funding will help focus on the new employment generation scheme, Labour Minister Mansukh Mandaviya said. The "record ₹32,646 crore" allocation is almost 80% higher than last year's Revised Estimates, he added. The Ministry's main focus is the new Employment Generation Scheme, for which the budgetary allocation has been doubled to ₹20,000 crore.
12.
The Indian Space Research Organisation (ISRO) has been unable to perform the intended orbit-raising operations for the NVS-02 satellite due to a valve malfunction. The NVS-02, the second satellite in the NVS series, was launched by the ISRO on January 29 as part of its landmark 100th launch from Sriharikota. The space agency said that the orbit-raising operations towards positioning the satellite to the designated orbital slot could not be carried out as the valves for admitting the oxidiser to fire the thrusters for orbit-raising did not open.
13.
Iran revealed its new ballistic missile, Etemad, that can travel 1,700 km, unveiling it at an event attended by President Masoud Pezeshkian. Three domestically produced satellites were also presented at the ceremony: a 34-kg communications model called Navak, as well as updated versions of the Pars-1 and Pars-2.
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