Major News and Events of 29 February 2016
What Happened on 29 February 2016
Delhi Jal Board chief approves Art of Living event on Yamuna
Alok Verma appointed as new Delhi Police Commissioner
Cigarettes, cars & jewellery to cost more
Sensex falls over 1% with Nifty sliding by 1.5%
ISRO gears up for Chandrayaan II
Arun Jaitley to present Budget 2016 at 11:00 a.m.
Vinod Rai to be the new chairman of Banks Board Bureau
Delhi Metro Express Line to ferry cargo from 1 March
Finance Minister Arun Jaitley has announced the allotment of Rs. 500 crore for scheduled caste, scheduled tribes and women entrepreneurs in the annual budget 2016-17 under the Stand Up India scheme. The announcement comes as a result of heat faced by the government in both houses of Parliament over the suicide of Dalit scholar Rohith Vemula in Hyderabad.
Minister and Delhi Jal Board chairperson Kapil Mishra has shown support to the controversial Art of Living event scheduled to take place on the Yamuna floodplains from 11- 13 March. The three-day cultural festival would have 35,000 musicians performing simultaneously on a seven-acre stage with over 35 lakh people expected to mark their attendance.
Today, senior IPS officer Alok Kumar Verma assumed charge as the new commissioner of Delhi Police. He has succeeded BS Bassi, who was facing constant conflicts with the AAP government since the last one year. A 1979 batch IPS officer of the AGMUT (Arunachal Pradesh-Goa-Mizoram and Union Territory) cadre, Verma was serving as the director general of Tihar jail.
With the Budget for 2016-17 out today, buying a car, cigarette and jewellery would become more expensive. Finance Minister Arun Jaitley has announced a 1% additional tax on cars costing above Rs. 10 lakh with 1% infra cess to be levied on small cars. A 2.5% infra cess will also be imposed on diesel cars and 4% additional levy on high-capacity passenger vehicles and SUVs. Cigarettes would witness a 10-15 per cent hike in the excise duty on tobacco with a one percent excise duty to be levied on gold and diamond jewellery.
Today, the stock markets fell over 1%, with Bank Nifty and NSE Nifty hitting a 52-week low. A sharp fall in the Asian markets is quoted to be the reason behind this Sensex failure. State Bank of India, which had earlier gained 4% was also down by 0.3% with other banks including Axis Bank, HDFC Bank, Bank of Baroda and Federal Bank falling by 1-2 per cent.
Science and Technology
ISRO (Indian Space Research Organization) chairman AS Kiran Kumar has hinted India is prepared for the Chandrayaan II mission. Considered as the country’s second mission to the moon, Chandrayaan II is an advanced version of the previous Chandrayaan-I mission. It includes an orbiter, lander and rover configuration and is planned to be launched as a composite stack into the EPO (earth parking orbit) of 170 X 18,500 km by GSLV-Mk II.
Finance Minister Arun Jaitley has reached Parliament with the Union Budget enclosed in a briefcase. He has met President Pranab Mukherjee at the Rashtrapati Bhavan. The Union Cabinet will be approving the Budget at 10:00 a.m. followed by Arun Jaitley who would be presenting the same to Parliament at 11:00 a.m.
Former Comptroller and Auditor General(CAG) Vinod Rai has been appointed as the first Chairman of the Banks Board Bureau, which would be advising the government on top-level appointments at public sector lenders. In addition to this, the bureau would also be offering ways to address the bad loans problem in addition to other bank-related issues.
Science and Technology
The Delhi Metro is geared up to start a cargo service on its high-speed Airport Express Line from 1 March to transport non-perishable and e-commerce items. Implemented on an experimental basis for a duration of three months between New Delhi and IGI Airport Metro Stations, the service is seen as an initiative to cut down fuel emissions with lesser cargo vehicles plying on Delhi roads.