{"id":3462,"date":"2025-02-03T11:37:24","date_gmt":"2025-02-03T11:37:24","guid":{"rendered":"https:\/\/lawentranceindia.com\/blogs\/?p=3462"},"modified":"2025-02-03T11:37:24","modified_gmt":"2025-02-03T11:37:24","slug":"mlc-daily-current-affairs-03-february-2025","status":"publish","type":"post","link":"https:\/\/lawentranceindia.com\/blogs\/mlc-daily-current-affairs-03-february-2025\/","title":{"rendered":"MLC Daily Current Affairs – 03 February 2025"},"content":{"rendered":"

Today in History (February 03rd<\/sup>,2021)<\/h1>\n

On 3rd February 2021, United States and Russia extend their New Start nuclear arms control treaty for five years, the last remaining nuclear arms deal between the two countries.<\/p>\n

Summary of Today’s News<\/strong><\/h2>\n

Understanding Budget in India-Part-3<\/span><\/strong><\/h3>\n

OTHER TYPES OF BUDGETS <\/strong>
\nZero Based Budgeting: is a method of budgeting in which all expenses are evaluated each time a Budget is made and expenses must be justified for each new period.
\nOutcome Budget:<\/strong>
\n\u2022 Analyses the progress of each ministry and department and what the respected ministry has done with its Budget outlay.
\n\u2022 It measures the development outcomes of all government programs. It was first introduced in the year 2005.
\nGender Budgeting:<\/strong>
\n\u2022 It is defined as \u201cgender-based assessment of Budgets, incorporating a gender perspective at all levels of the budgetary process and restructuring revenues and expenditures in order to promote gender equality\u201d.
\n\u2022 Through Gender Budget, the Government declares an amount to be spent over the development, Welfare, Empowerment schemes and programmes for Females.<\/p>\n

\"\"<\/h3>\n

Theme:<\/strong> \u00abSabka Vikas\u00bb (Development for All)
\nQuote:<\/strong> \u2018Desamante Matti Kaadoi, Desamante Manushuloi\u2019 (A country is not just its soil, a country is its people) given by Gurajada Appa Rao.
\nVision:<\/strong> Viksit Bharat
\nWhat is Viksit Bharat? <\/strong>
\n\"\"
\n10 broad areas focusing on Garib, Youth, Annadata and Nari:
\n\"\"
\n1. Spurring agricultural growth and Productivity
\n2. Building rural prosperity and resilience
\n3. Supporting MSMEs
\n4. Boosting manufacturing and furthering Make in India
\n5. Take everyone on an inclusive growth plan
\n6. Enabling employment led development
\n7. Investing in people, economy and innovation
\n8. Securing energy supply
\n9. Nurturing innovation
\n10. Promoting exports
\nAgriculture as the 1st Engine<\/strong>
\n\"\"
\nPrime Minister Dhan-Dhaanya Krishi Yojana – Developing Agri Districts Programme:<\/strong>
\n\u2022 It will be convergence of existing schemes and specialized measures. the programme will cover 100 districts with low productivity, moderate crop inetensity and below-average credit parameters
\nThe broad aims: <\/strong>
\n\u2022 Enhance agricultural productivity
\n\u2022 Adopt crop diversification and sustainable agriculture practices
\n\u2022 Augment post-harvest storage at the panchayat and block level
\n\u2022 Improve irrigation facilities
\n\u2022 Facilitate availability of long-term and short-term credit
\nBuilding Rural Prosperity and Resilience:<\/strong>
\n\u2022 A comprehensive multi-sectoral \u2018Rural Prosperity and Resilience\u2019 programme will be launched in partnership with states.
\n\u2022 This will address underemployment in agriculture through skilling, investment, technology, and invigorating the rural economy.
\n\u2022 In Phase-1, 100 developing Agri-districts will be covered.
\n\u2022 Quote: \u201cMigration is an option, but not a necessity.\u201d
\nThe programme will focus at:<\/strong>
\n\u2022 Catalyzing enterprise development, employment and financial independence for rural women
\n\u2022 Accelerating creation of new employment and businesses for young farmers and rural youth
\n\u2022 Nurturing and modernizing agriculture for productivity improvement and warehousing, especially for marginal and small farmers
\n\u2022 Diversifying opportunities for landless families.
\nAatmanirbharta in Pulses:<\/strong>
\n\u2022 Government will now launch a 6-year \u201cMission for Aatmanirbharta in Pulses\u201d with a special focus on Tur, Urad and Masoor.
\n\u2022 Central agencies (NAFED and NCCF) will be ready to procure these 3 pulses from farmers who register with these agencies and enter into agreement
\nThe Mission will place emphasis on: <\/strong>
\n\u2022 Development and commercial availability of climate resilient seeds
\n\u2022 Enhancing protein content
\n\u2022 Increasing productivity
\n\u2022 Improving post-harvest storage and management
\n\u2022 Assuring remunerative prices to the farmers.
\nMakhana Board in Bihar:<\/strong>
\n\"\"
\n\u2022 Makhana Board will be established in Bihar to improve production, processing, value addition, and marketing of makhana.
\n\u2022 Bihar is the largest producer of makhana in India, accounting for almost 90% of the country’s total production.
\nNational Mission on High Yielding Seeds:<\/strong>
\n\"\"
\n\u2022 Scheme will be aimed at:
\n\u2022 strengthening the research ecosystem
\n\u2022 targeted development and propagation of seeds with high yield, pest resistance and climate resilience
\n\u2022 commercial availability of more than 100 seed varieties launched since 2024.
\nFisheries: <\/strong>
\n\"\"
\n\u2022 India ranks second-largest globally in fish production and aquaculture.
\n\u2022 Seafood exports are valued at 60 thousand crores.
\n\u2022 Government will launch Indian Exclusive Economic Zone and High Seas, with a special focus on the Andaman & Nicobar and Lakshadweep Islands.
\nMission for Cotton Productivity:<\/strong>
\n\"\"
\n\u2022 It is a 5-year mission.
\n\u2022 It facilitates significant improvements in productivity and sustainability of cotton farming, and promote extra-long staple cotton varieties.
\n\u2022 Aligned with our integrated 5F vision for the textile sector.
\nEnhanced Credit through KCC:<\/strong>
\n\u2022 The loan limit under the Modified Interest Subvention Scheme will be enhanced from 3 lakh to 5 lakh for loans taken through the KCC.
\nUrea Plant in Assam:<\/strong>
\n\u2022 Government had reopened three dormant urea plants in the Eastern region.
\n\u2022 A plant with annual capacity of 12.7 lakh metric tons will be set up at Namrup, Assam.
\nIndia Post as a Catalyst for the Rural Economy:
\n\"\"
\n\u2022 India Post with 1.5 lakh rural post offices, will be repositioned to act as a catalyst for the rural economy.
\nThe expanded range of services will include:<\/strong>
\n\u2022 Rural community hub colocation.
\n\u2022 Institutional account services.
\n\u2022 DBT, cash out and EMI pick-up.
\n\u2022 Credit services to micro enterprises.
\n\u2022 Insurance.
\n\u2022 Assisted digital services.
\nMSMEs as the 2nd engine<\/strong>
\n\u2022 Currently, over 1 crore registered MSMEs, employing 7.5 crore people, and generating 36 per cent of manufacturing.
\n\u2022 MSMEs are responsible for 45 per cent of our exports.
\n\u2022 The investment and turnover limits for classification of all MSMEs will be enhanced to 2.5 and 2 times respectively
\nEnhancement of credit availability with guarantee cover:<\/strong>
\n\u2022 To improve access to credit, the credit guarantee cover will be enhanced:
\ni. For Micro and Small Enterprises, from 5 crore to 10 crore, leading to additional credit of 1.5 lakh crore in the next 5 years.
\nii. For Startups, from 10 crore to 20 crore, with the guarantee fee being moderated to 1 per cent for loans in 27 focus sectors important for Atmanirbhar Bharat.
\niii. For well-run exporter MSMEs, for term loans up to 20 crores.
\nCredit Cards for Micro Enterprises: <\/strong>
\n\u2022 Government will introduce customized Credit Cards with a 5-lakh limit for micro enterprises registered on Udyam portal.
\n\u2022 In the first year, 10 lakh such cards will be issued.
\nFund of Funds for Startups:<\/strong>
\n\u2022 The Alternate Investment Funds (AIFs) for startups have received commitments of more than 91,000 crore.
\n\u2022 A new Fund of Funds, with expanded scope and a fresh contribution of another 10,000 crore will be set up.
\nScheme for First-time Entrepreneurs: <\/strong>
\n\u2022 A new scheme will be launched for 5 lakh women, Scheduled Castes and Scheduled Tribes first-time entrepreneurs.
\n\u2022 This will provide term loans up to 2 crores during the next 5 years.
\n\u2022 The scheme will incorporate lessons from the successful Stand-Up India scheme.
\nFocus Product Scheme for Footwear & Leather Sectors: <\/strong>
\n\u2022 To enhance the productivity, quality and competitiveness of India\u2019s footwear and leather sector, a focus product scheme will be implemented.
\n\u2022 The scheme will support design capacity, component manufacturing, and machinery required for production of non-leather quality footwear, besides the support for leather footwear and products.
\n\u2022 The scheme is expected to facilitate employment for 22 lakh persons, generate turnover of 4 lakh crore and exports of over 1.1 lakh crore.
\nMeasures for the Toy Sector: <\/strong>
\n\"\"
\n\u2022 Government will implement a scheme to make India a global hub for toys.
\n\u2022 The scheme will focus on development of clusters, skills, and a manufacturing ecosystem that will create high-quality, unique, innovative, and sustainable toys.
\nSupport for Food Processing:<\/strong>
\n\"\"
\n\u2022 Government will establish a National Institute of Food Technology, Entrepreneurship and Management in Bihar.
\nThis will result in:
\n\u2022 Enhanced income for the farmers through value addition to their produce.
\n\u2022 Skilling, entrepreneurship and employment opportunities for the youth.
\nManufacturing Mission – Furthering \u201cMake in India\u201d: <\/strong>
\n\u2022 Government will set up a National Manufacturing Mission covering small, medium and large industries for furthering \u201cMake in India\u201d by providing policy support and execution roadmaps.
\n\u2022 The Mission will also support Clean Tech manufacturing.
\n\u2022 The Mission\u2019s mandate will include 5 focus areas:
\n\u2022 Ease and cost of doing business
\n\u2022 Future ready workforce for in demand jobs
\n\u2022 A vibrant and dynamic MSME sector
\n\u2022 Availability of technology
\n\u2022 Quality of products<\/p>\n