BIHAR
Bihar budget: ‘Raising expenditure a promising move’
Bihar budget is the fifth policy document released in less than a month, which not only has key information about the economy but also presents an outline for the future path of development of the state as well as the country.
Therefore, the state budget needs to be analysed using the other four documents – the Economic Survey of India, the Union Budget, the Centre’s approval of the 15th Finance Commission recommendations and the Economic Survey of Bihar.
This year, the budget comes on the back of the Covid-19 pandemic-led economic slowdown and the full recovery of the Indian economy is expected to take at least two years. However, it is heartening to note that the Bihar government has budgeted a higher level of expenditure and receipt for 2021-22.
Also, the real growth rate numbers in the primary sector that includes agriculture and allied activities remained much lower at 3.6% than the manufacturing and services sectors. Therefore, it is the services sector that is the major contributor to the high real economic growth of 10.5% during 2019-20.
However, the fiscal space for revenue constrained states such as Bihar is limited and, therefore, it is unlikely to see an increase in the actual numbers for the capital outlay in the absence of a special financial help by the Centre even though the budgeted estimates are higher. The capital receipt of the state as a share of its GSDP increased from 2.8% in 2017-18 to 4.7% in 2019-20, whereas the capital expenditure has declined from 7.2% of GSDP to 3.3% during the same period.
INTERNATIONAL
Fossils of Coelacanth Were Found
A group of paleontologists discovered the fossils of coelacanth, a giant fish, regarded as a iconic example of “living fossil”. The discovered fossil of the Coelacanth is thought to be 66 million years ago in the Cretaceous period.
Coelacanths are elusive deep-sea creatures that live at a depth of 2,300 feet below the surface of the water.
It is thought that they were extinct among the dinosaurs 65 million years ago. But its discovery in 1938 sparked a debate about how this lobe-finned fish adapted to the evolution of terrestrial animals
There are only two known species of coelacanth: one lives near the Comoros Islands on the east coast of Africa, and other lives in the waters off Sulawesi, Indonesia.
International Mother Language Day: 21 February
International Mother Language Day is observed every year in 21 February.
In 1999, the United Nations Educational, Scientific and Cultural Organization, UNESCO had declared 21st February as International Mother Language Day.
Union Education Ministry has been celebrating Matribhasha Diwas since 2015.
The theme for this year is ‘Fostering multilingualism for inclusion in education and society’.
The idea to celebrate International Mother Language Day was the initiative of Bangladesh.
NATIONAL
India Energy Outlook 2021 – IEA
The International Energy Agency (IEA) released the “India Energy Outlook 2021 Report”, which explores the opportunities and challenges that India faces in seeking to ensure reliable, affordable and sustainable energy for its growing population.
“India Energy Outlook 2021” is a new special report in the International Energy Agency’s “World Energy Outlook” series.
By 2030, India will replace the European Union as the world’s third largest energy consumer. This will be the largest share of energy demand growth in the next two years, at 25%.
Currently, India is the world’s fourth largest energy consumer after China, the United States and the European Union.
Under the current national policy scenario, India’s Gross Domestic Product (GDP) is estimated to grow to 8.6 trillion US dollars by 2040, and India’s energy consumption is expected to nearly double.
Before global pandemic, India’s energy demand was expected to grow by nearly 50% between 2019 and 2030, but the growth during this period is now close to 35%.
In the past three decades, in terms of Purchasing Power Parity (PPP), India accounted for approximately 10% of the World’s Growth in Industrial Value-added.
Go Electric campaign’ launched to give a boost to electric mobility and use of electrical appliances across the country
The Centre launched the Go Electric campaign to boost the adoption of electric mobility vehicles and electric cooking appliances to ensure energy security in the country.
The Go Electric Campaign is an initiative aimed at reducing the import dependence of our country in the coming years and has also been projected as an important step towards a cleaner and greener future.
The campaign is aimed at creating awareness at PAN-India level and is expected to boost the confidence of Electric Vehicle manufacturers.
Drug for Epilepsy Was Developed
A major pharmaceutical manufacturer developed the final dosage form of Active Pharmaceutical Ingredients (API) and Brivanext for epilepsy.
Epilepsy is a central nervous system (neurological) disease in which brain activity becomes abnormal, causes seizures or a period of abnormal behavior, sensation, and sometimes even loss of consciousness.
Epilepsy is the fourth most common neurological disease, affecting people of all ages.
Anyone can develop epilepsy, but it is more common in young children and the older adults. This incidence of men is slightly higher than that of women.
India’s 88 industrial clusters present a bleak picture of air, water and land contamination, says CSE report
An evaluation of 88 clusters, identified by central and state pollution control boards (CPCB and SPCBs) as polluted industrial areas, has thrown up a “bleak picture of air, water and land contamination” in the country, said the Centre for Science and Environment’s (CSE) State of India’s Environment report 2021.
Referring to the CPCB’s Comprehensive Environmental Pollution Index (CEPI) that factored in air, water and soil contamination to arrive at an index at scale of 100, the report – annual publication of the CSE’s Down to Earth – noted that 35 of 88 industrial clusters showed overall environmental degradation, 33 pointed to worsening air quality, 45 had water that was more polluted while 17 had land pollution that has become worse in 2018 compared to 2009.
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