02-02-22 Daily-Gujarat-GPSC Current Affairs

Since the onset of the Covid-19 pandemic, Health Insurance coverage has become a huge cost component for companies. While is facing increases in costs, theGujarat Chamber of Commerce and Industry(GCC) on Monday made a representation to the Union finance minister asking that theGSTrate on health insurance be cut from 18% to 5%.

Insurance penetration in India is low at 4.2% of gross domestic product (GDP), compared to the global Average of 7%. It is expected that the government takes concrete steps to support higher insurance penetration in theUnion Budget. A well-insured Society leads to lesser support strain on government finances, thereby keeping its unplanned expenditure and budget planning process more stable, the representation states.

According to industry players, the majority of medical, hospital, and consulting Services are exempted from GST, whereas 18% GST is applicable on health insurance. There is a strong rationale for the government to encourage the use of insurance to protect citizens and remove or lower GST to say 5% on health insurance premiums.

In the year 2022, ISRO is expected to launch the “Aditya-L1 mission” to investigate the sun.

Highlights:

The L1 Lagrange point will be the landing site for the Aditya-L1 mission. After AstroSat, this will be ISRO’s second space-based astronomy mission.

In 2015, AstroSat was launched.Aditya-L1 was originally known as Aditya 1 and was designed to only observe the solar corona.

Aditya L1, a solar probe, will be launched on a Polar Satellite Launch Vehicle (PSLV) XL carrying seven payloads or experiments.

Nirmala Sitharaman, the Union Finance Minister, presents the Union Budget 2022 for the fourth time.

Highlights:

Nirmala Sitharaman, the Union Finance Minister, presents the Union Budget 2022 for the fourth time.

She will give the fiscal year 2022-23 financial results and tax suggestions (April 2022 to March 2023).

As Union Finance Minister Nirmala Sitharaman departs the Finance Ministry to present the Budget in Parliament, a Made in India tablet has taken the place of the customary ‘Bahi Khata.’

V Anantha Nageswaran, India’s Chief Economic Advisor, released the Economic Survey 2021-22 on January 31, 2022.

The Indian economy is expected to develop at an annual rate of 8-8.5 percent in the fiscal year 2022-23, according to the government (FY23).

The Union Budget is a yearly financial report that estimates the government’s income and expenditures to propose future long-term Growth and development strategies.

The Annual Financial Statement refers to the year’s Union Budget, defined by Article 112 of the Indian Constitution (AFS).

On the 31st of January 2022, Finance Minister Nirmala Sitharaman presented the Economic Survey 2021-22 to the Parliament.

Highlights:

On the 31st of January 2022, Finance Minister Nirmala Sitharaman presented the Economic Survey 2021-22 to the Parliament.

The pre-budget Economic Survey is a document that is presented to Parliament prior to the Union Budget to present the state of the economy and make policy recommendations.

A team led by Chief Economic Advisor wrote the pre-Budget Economic Survey (CEA).

The Centre named economist V Anantha Nageswaran as the next CEA just days before the presentation.

The Indian economy is expected to develop at an annual rate of 8-8.5 percent in the fiscal year 2022-23, according to the government (FY23).

For the current fiscal year 2021-22 (FY22), the GDP Growth rate is expected to be 9.2%. According to the Economic Survey, India will need to spend around USD 1.4 trillion on over the next five years to achieve a GDP of USD 5 trillion.

The lack of major base effects in 2022-23 as compared to 2021-22 is the key reason for the lower projection.

In fact, when these base effects were removed in Q3 and Q4 of 2021-22 and economic activity had begun to recover, the second half of 2021-22 saw only 5.6 percent growth.

India and Israel have collaborated to transform 150 communities into ‘Villages of Excellence.’

Highlights:

The Indian government has partnered with the Israeli government to establish 150 ‘Villages of Excellence’ in 12 Indian states to assist farmers in adopting cutting-edge farm technology.

Israel would provide technical aid and other knowledge to help <a href="https://exam.pscnotes.com/Agriculture-notes-for-state-psc-exams”>Agriculture become more profitable.

The 150 villages surrounding the CoEs will be transformed into “Villages of Excellence.”

Seventy-five villages would commemorate India’s 75th year of independence in the first year.

In 12 states, the Israeli government has already built 29 Centres of Excellence (CoEs).

CoEs are an excellent example of bilateral collaboration, and the certification of CoEs has been advocated to improve the standards and quality of Services given to farmers, said Mr. Gilon.

Also, He is interested in further collaboration with agri-research body ICAR and making the latest technologies available with Israel.

PR Sreejesh, an Indian men’s hockey player, has been named World Games Athlete of the Year for 2021.

Highlights:

PR Sreejesh, an Indian men’s hockey player, has been named World Games Athlete of the Year for 2021.

He is the second Indian to win this prize, following Rani Rampal.

Rani Rampal, the Indian Women‘s hockey captain, became the first Indian to win the award in 2020 for her achievements 2019.

Based on individual or team accomplishments, the yearly Awards were nominated by 24 athletes from 17 countries.

The runners-up are Spanish wushu player Alberto Gins Lpez and Italian wushu player Michele Giordano.