CURRENT AFFAIRS 27 - 28thFeb., 2015

DOWNLOAD PDF

Current affairs: 27th Feb., 2015

1. Railway Minister Suresh Prabhu presented the Railway Budget 2015-16 in the Loksabha. Prabhu announced in detail many steps to give passengers a better travel experience, made it easier for the Indian Railways to give out contracts, desisted from announcing new trains, and announced a five-year investment road map and promised a vision for 2030.

2. It was announced freight rates would be raised by an average three per cent through reclassification. Freight rate for cement, coal, others hiked by up to 10%. This will help government garner about Rs 4,000 crore in 2015-16. But passenger fares were left unchanged.

3. An information technology vision for the Railways will be unveiled soon and a five-year budgetary allocation of Rs 5,000 crore has been made for technology and research.

4. Railway Minister announced an unprecedented increase of over 50 per cent in its proposed investments to over Rs 1 lakh crore next financial year. Investment of Rs 8.50 lakh cr envisaged in five years.

5. The facility of online booking of disposable bedrolls and food is being extended to all passengers through the IRCTC portal. Passengers will now be able to register general complaints through an all India 24X7 helpline number, 138.

CURRENT AFFAIRS 28thFeb., 2015

1. Government has asked the two Indian consortia led by Tata Power (Strategic Engineering Division) and Bharat Electronics (BEL) to develop a "Battlefield Management System" (BMS). The BMS consists of a wireless network that links digital devices carried by combat soldiers, interlinking them, their commanders and a range of battlefield sensors. This provides a common battle picture to each individual.

2. Reserve Bank of India (RBI) has disapproved of the government’s recent decision to infuse capital in public sector banks (PSBs) selectively, saying the timing of this was inappropriate. Recently, the finance ministry had allocated Rs 6,990 crore in nine PSBs, based on efficiency.

3. Reserve Bank of India (RBI) suggested that the offshore market needs to move onshore, including derivatives for the rupee. Interest in the rupee has led to the development of an offshore rupee market mainly in Singapore, Dubai, London and New York.

4. Economic Survey says, "India has moved from a carbon subsidisation regime to one of significant carbon taxation regimes - from a negative price to a positive price on carbon emissions." The high excise duty on petrol and diesel is an implicit carbon tax which India imposes on its consumption of fuels that cause greenhouse gas emissions leading to global warming.

5. NITI Aayog will undertake the mid-term appraisal of the ongoing (2012-17) Five-Year Plan. Earlier it was decided the 12th Five-Year Plan (2012-2017) would continue during the first meeting of the governing council of the NITI Aayog in February.