Current Affairs 1st February 2017

Current Affairs 1st February 2017 - Important Points

• Union Budget 2017 presented in Loksabha by - Union Finance Minister Arun Jaitley
• MP who died in the Parliament, while attending the speech given by president on 1st Feb 2017 - Former Union Minister and IUML Chief E Ahmed
• Which authority will re-measure Mt.Everest peak - Survey of India

Current Affairs 1st February 2017 - Details

Union Budget 2017 presented in Loksabha by - Union Finance Minister Arun Jaitley

Union Finance Minister Arun Jaitley presented the Union Budget in Loksabha for 2017. The budget is seen as a great hope and opportunity for the middle class and underprivileged sections of the nation. There are many benefits presented for Females. Also, being the first budget after the three major changes done in the Union Budget system, people have great expectations. 

Three major changes introduced by the same NDA in the Union Budget in 2016 were –

• Merging general and railway budget (after 92 years).
• Budget presentation date is preponed by one month.
• On the budget date, rate of fiscal and deficit is to be announced.

Govt. has also shown a move in the budget by making cashless transactions tax free. Also income tax is halved for the earnings from 2.5 lac - 5 lac.

Do You Know :

It is the first budget presented after the three important changes made by the NDA Govt. in Budget system. It is the third of NDA govt budget and 87th budget after the independence.

MP who suffered cardiac arrest in Parliament and later passed away - Former Union Minister and IUML Chief E Ahmed

E Ahmed former Union Minister and IUML Chief suddenly collapsed during president’s address in Parliament. He was admitted to Hospital and declared dead at 2:01am on 1st Feb 2017. He was 78 years old. His wife was already passed away in a Car accident in 1990. He died due to severe cardiac arrest.

Which authority will re-measure Mt.Everest peak - Survey of India

After the 2015 earthquake in Nepal, The Indian Govt. wants to re - measure the height of Mt. Everest. Some scientists believe that Mt. Everest might have shrunk after the earthquake.

This will be done to help the scientific studies and to verify the doubts expressed by scientists. Survey of India has taken all the necessary approvals for the expedition and they will measure height using GPS and Ground Method.

GPS will help in recording the height after placing it for 10 minutes at least above summit.

Ground Method calculates height from the ground. It works on triangulation, where measurement and tracing of triangles determines the distance and relative positions of points spread over that area.

Approximate time consumption is estimated as 2 months including a month for expedition, 15 days for calculation and next 15 days for the declaration of the final data.

Do You Know :

As of now officially recorded height of Mt. Everest is 8848 meters (29,028 feet) above sea level.