Rajasthan

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Budget 2024-25 Highlights ​

Budget History & Presentation

  • First budget in India was presented by James Wilson in 1860.
  • First post-independence budget was presented by K. Shanmukham Chetty.
  • First Republic India budget was presented by John Mathai.
  • Morarji Desai presented the budget a record 10 times.
  • Indira Gandhi was the first woman to present the budget.
  • Nirmala Sitharaman is the first full-time female Finance Minister and presented the budget for the 8th time on February 1st. Her 2020 budget was the longest.

Vision for Viksit Bharat (Developed India)

  • Freedom from poverty.
  • 100% schooling.
  • Affordable and accessible healthcare.
  • 100% skilled workers.
  • 70% female participation in economic activity.
  • India as the "Food Basket of the World."

Budget's Strategic Framework

  • Destination: Viksit Bharat.
  • Guide: Inclusivity.
  • Fuel: Reforms.
  • Four Engines: Agriculture, MSME, Investment, Exports.

Sector-Specific Initiatives

  • Agriculture:
    • PM Dhan Dhanya Krishi Yojana: Launched in 100 districts to increase productivity; expected to benefit 1.7 crore farmers.
    • Self-reliance Mission in Pulses: 6-year mission focusing on Tur (Arhar), Urad, and Masoor dals.
    • Makhana Board: To be established in Bihar.
    • High Yield Seed Mission: For high-yield seeds.
    • Cotton Production Mission: 5-year mission for quality cotton production to boost the textile industry.
    • Kisan Credit Card (KCC) Limit: Increased from ₹3 lakh to ₹5 lakh.
    • Urea Plant: To be established in Namrup, Assam, with 12.7 lakh metric tons capacity.
  • MSME (Micro, Small, Medium Enterprises):
    • Revised Definition (Investment/Turnover):
      • Investment: Micro (up to ₹2.5 crore), Small (up to ₹25 crore), Medium (up to ₹125 crore).
      • Turnover: Micro (up to ₹10 crore), Small (up to ₹100 crore), Medium (up to ₹500 crore).
    • Special Credit Card for Micro Enterprises: ₹5 lakh limit, available on Udyam Portal.
    • National Manufacturing Mission: To promote 'Make in India' in footwear, toys, and food processing.
  • Investment & Human Capital:
    • Atal Tinkering Lab: 500 labs to be established in government schools over 5 years to boost interest in STEM.
    • Bharatiya Bhasha Pustak Scheme: Digital books in Indian languages for school and higher education.
    • National Skill Excellence Centers: 5 centers for 'Make for India' and 'Make for the World' initiatives.
    • AI Excellence Center: ₹500 crore allocated to promote AI in education.
  • Healthcare:
    • Cancer medicines made cheaper.
    • Day Care Cancer Hospitals to be established in all district hospitals within 3 years.
  • Infrastructure & Connectivity:
    • Jal Jeevan Mission: Extended till 2028.
    • Samudrik Vikas Nidhi (Maritime Development Fund): Government to contribute 49%.
    • UDAN Scheme: 120 new destinations to be connected in next 10 years.
    • Bihar Projects: Greenfield Airport in Bihar, West Kosi Canal Project in Mithilanchal.
  • Culture & Heritage:
    • Gyan Bharatam Mission: For conservation of over 1 crore manuscripts.
  • Exports:
    • Bharat Trade Net Platform: Launched to improve supply in exports.

Fiscal & Tax Reforms

  • Insurance Sector FDI Limit: Increased from 74% to 100%.
  • Fiscal Deficit (as % of GDP):
    • 2024-25: Estimated 4.8%.
    • 2025-26: Estimated 4.4%.
  • Life-saving Drugs: Tax removed on 36 life-saving drugs.
  • New Income Tax Regime: New Income Tax Bill replacing the 1961 bill.
  • Tax Slab Changes:
    • Up to ₹12 lakh: Tax-free.
    • ₹0-4 lakh: 0% tax.
    • ₹4-8 lakh: 5% tax.
    • ₹8-12 lakh: 10% tax.
    • ₹12-16 lakh: 15% tax.
    • ₹16-20 lakh: 20% tax.
    • ₹20-24 lakh: 25% tax.
    • Above ₹24 lakh: 30% tax.

Government Revenue & Expenditure

  • Top 3 Sources of Revenue:
    1. Borrowings (24%)
    2. Income Tax (22%)
    3. GST (18%)
  • Top 3 Areas of Expenditure:
    1. States' Share in Taxes & Duties (22%)
    2. Interest Payments (20%)
    3. Defence (highest among ministries)
  • Other Top Spending Ministries: Rural Development (2nd highest), Home Ministry (3rd highest), Agriculture (4th highest).

Daily Current Affairs: July 7, 2025 ​

International Rankings & Reports

  • World Bank's Gini Index 2022: India ranks 4th globally in income equality with a Gini Index of 25.5.
    • Top 3 most equal countries: Slovakia, Slovenia, Belarus.
    • Highest income inequality: South Africa.
    • China, USA, and UK have more income inequality than India.

Awards & Appointments

  • Order of the Republic of Trinidad and Tobago: Conferred upon PM Modi by President Christine Kangaloo, making him the first foreign leader to receive it.
    • Capital of Trinidad and Tobago: Port of Spain.
    • Gita Mahotsav is planned there due to significant Indian diaspora.
  • Other International Awards to PM Modi: Ghana's highest award, awards from Cyprus, Nigeria, Kuwait, Bhutan, and Barbados.
  • SEBI's 11th Head: Tuhin Kanta Pandey.
  • Sub Lieutenant Aastha Poonia: Became the Indian Navy's first female fighter pilot, completing her Basic Hawk Conversion Course and receiving 'Wings of Gold' at INS Dega, Visakhapatnam.
  • Anamika V. Rajeev: First female helicopter pilot of the Indian Navy.
  • Suman Singh: First female sniper of BSF.
  • Mimi Chakraborty: Crowned Miss World 2025 in Hyderabad.
  • Sukanya Sonowal: Appointed Youth Peace Envoy at the UN.
  • Pritzker Architecture Award 2025: Awarded to Liu Jiakun.
  • World Junior Chess Championship 2025: Won by Pranav Venkatesan.

Science & Technology

  • Microsoft: Ceased operations in Pakistan after 25 years (from 2000 to 2025).
  • India's First Private Space-based Internet Service: Anant Technologies (Hyderabad-based) received approval, with services to start in 2028.
  • NASA Mission: Spex Mission launched to understand events immediately after the Big Bang.
  • First Quantum Chip: Ocelot by Amazon.
  • DRDO Missile: BM4, a Hypersonic Short Range Ballistic Missile, unveiled.
  • ASTRA Missile: Beyond Visual Range Air-to-Air Missile (BVRAAM).
  • Zircon Missile: Hypersonic missile (Mach 9 speed) by Russia.

Sports

  • Neeraj Chopra Classic 2025 (First Edition):
    • Held in Bengaluru.
    • Neeraj Chopra won Gold with a throw of 86.18 meters. Julian from Kenya secured second place.
  • Neeraj Chopra's Achievements: Gold at Tokyo Olympics, Silver at Paris Olympics. Won Gold at Paris Diamond League and Ostrava Golden Award; Silver at Doha Diamond League (where he achieved 90+ meters throw).
  • Grand Chess Tour 2025 (Third Edition):
    • Held in Zagreb, Croatia.
    • Won by D Gukesh, who defeated Magnus Carlsen (Norway).
    • Previous edition (Romania, Bucharest) was won by R Praggnanandhaa.
  • Ranji Trophy 2025: Vidarbha won, defeating Kerala.
  • Senior Asian Wrestling Championship 2025: Manisha Bhanwala won India's only Gold.
  • Champions Trophy 2025: India won, defeating New Zealand in Pakistan.
  • Butalik Cricket League 2025: Organized by the Indian Army in Ladakh.

Government Schemes & Initiatives

  • International Yoga Day 2025 Theme: "Yoga for One Earth, One Health."
  • CM Vrindavan Gram Yojana: Launched in Madhya Pradesh by CM Mohan Yadav to develop villages like Vrindavan, focusing on animal husbandry, dairy, organic farming, and water conservation. Conditions include a minimum population of 2000 and 500 cattle.
  • Pandit Deendayal Upadhyaya Garibi Mukt Gram Yojana: Launched in Rajasthan for poverty eradication.
  • Bhagirath App: Launched by Uttarakhand for water conservation.
  • Zero Poverty P4 Policy: Launched by Andhra Pradesh.

International Relations & Events

  • Undersea Surveillance Research Project: India and Australia began a joint research project to enhance undersea surveillance, particularly to track enemy submarines (like China's). DRDO is involved from India's side.
  • Integrated Tri-Service Special Force Exercise Desert Cold: Held in Rajasthan, involving Air Force, Army, and Navy.
  • Tiger Triumph and Tiger Kilo Exercises: Joint exercises between India and USA.
  • 12th Regional 3R and Circular Economy Forum: Held in Jaipur.
  • International Criminal Court: Hungary is the first European nation to withdraw.
  • BIMSTEC Meeting: Held in Thailand, where PM Modi observed the Ramkien Ramayana performance. Theme was "BIMSTEC Prosperous, Open."
  • Indian Navy's Sagar Initiative: First maritime training under this initiative started from Kochi.
  • 23rd Regional Meeting of OPCW: Held in Delhi.

Miscellaneous

  • English as Official Language: Named by USA.
  • IIM Ahmedabad's First International Campus: Established in Dubai.
  • Shirley Bochue: First African woman to become Commonwealth Secretary General (from Ghana).
  • Sarhul Festival: Celebrated in Jharkhand, involving the worship of the Sal tree.
  • Manoj Kumar (Bharat Kumar): The famous actor (associated with "Kranti" film) passed away.
  • International Cooperative Day 2025: Celebrated on July 5th (first Saturday of July). 2025 is also the Year of Cooperatives, Year of Glacier Conservation (March 21), Year of Quantum Technology, and Year of Peace and Development.
  • First Female Law Secretary of India: Anju Rathi Rana.
  • Start-up Mahakumbh: Inaugurated by Piyush Goyal in Delhi.
  • Solar Energy Plants at Railway Stations: Rajasthan ranked top in installing these.
  • Best Municipal Corporations in ULB's First National Edition: Lucknow, Pune, and Indore.
  • Deepika Padukone: Received a star on the Hollywood Walk of Fame.
  • India's First AI-powered Smart Trafficking System: Launched on the Dwarka Expressway in Delhi.
  • Cargo Handling Top Port in FY 2025: Paradip Port.