28 February 2015 Current Affairs
National Science Day Observed Across India On 28 February
India on 28 February 2015 observed National Science Day to mark the discovery of the Raman Effect by Indian physicist Chandrasekhara Venkata Raman (CV Raman). In 2015, the theme of the day is “Science for Nation Building”. This year’s theme has been chosen for the purpose of raising public appreciation on scientific issues for the development of nation. This day is celebrated every year on this day to spread a message about the significance of scientific applications in the daily life of the people. The National Council for Science and Technology Communication (NCSTC) in 1986 asked the Government of India to designate 28 February as National Day. Raman Effect is also termed as the Raman scattering and it speaks about the change in the wavelength of light (inelastic scattering of a photon) when it passes through a transparent sample of a chemical compound. This change in the wavelength is caused due to deflection of the molecules. The Raman Effect was discovered by CV Raman and for this discovery he was awarded with the Nobel Prize in Physics in 1930. The American Chemical Society in 2013 designated Raman Effect as an International Historic Chemical Landmark. In 1998 the Raman Effect was designated as a National Historic Chemical Landmark in recognition of its significance as a tool for analyzing the composition of liquids, gases and solids.
International Rare Disease Day Observed On 28 February
Eighth International Rare Disease Day was observed globally on 28 February 2015. The Rare Disease Day annually takes place on the last day of February. To mark the day, hundreds of patient organisations from more than 80 countries and regions worldwide carried-on awareness-raising activities around the slogan Day-by-day, hand-in-hand. The day is observed to raise awareness for rare diseases and improve access to treatment and medical representation for individuals with rare diseases and their families. The Rare Disease day is coordinated by European Organization for Rare Diseases (EURORDIS) and the main objective of the day is to raise awareness amongst the general public and decision-makers about rare diseases and their impact on patients’ lives.The Rare Disease Day was launched by EURODIS and Council National Alliances in 2008.
Union Budget 2015-16
Union Finance Minister Arun Jaitley presented Union Budget 2015-16 in the Lok Sabha on 28 February 2015.
Highlights of the Union Budget 2015-16:-
* No change in personal Income Tax
* Health Insurance Premium deduction hiked from Rs 15,000 to Rs 25,000; for senior citizens to Rs 30,000
* Transport allowance exemption hiked to Rs 1,600, from Rs 800 per month
* Additional 2% surcharge on people earning over Rs 1 cr; to fetch Rs 9,000 cr
* Rs 50,000 deduction for contribution to New Pension Scheme
* To lower Corporate Tax to 25% over next four years
* GAAR implementation deferred by 2 years to April 2017
* Service Tax rate hiked to 14%, from 12.36%
* Tax free bonds for roads, railways, irrigation projects
* 2015-16 growth between 8-8.5%, double digit growth feasible
* Retail inflation close to 5% by March, room for monetary policy easing
* To achieve fiscal deficit of 3% of GDP by 2017-18
* Fiscal Deficit target 3.9% in 2015-16, 3.5% in 2016-17
* Revenue Deficit to be 2.8% in 2015-16
* Current Account Deficit for 2014-15 to be below 1.3% of GDP
* To introduce comprehensive law to deal with black money
* Benami property transaction bill to tackle black money transaction in real estate soon
* 100% deduction for contribution to Swachh Bharat, Clean Ganga projects
* GST to be put in place by April 1, 2016
* Internationally competitive direct tax regime to be put in place to incentivise saving
* Incentivise use of credit, debit cards; disincentivise cash transaction to curb black money