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Current Affairs 02 February 2022

CONTENTS

  1. Summary of Union Budget 2022-23
  2. Myanmar’s Military Coup
  3. India – UK Free Trade Agreement

Summary of Union Budget 2022-23


Context:

India’s economic growth in the current year is estimated to be 9.2 per cent, highest among all large economies. The overall, sharp rebound and recovery of the economy from the adverse effects of the pandemic is reflective of our country’s strong resilience. This was stated by Union Minister for Finance and Corporate Affairs while presenting the Union Budget in Parliament.

Relevance:

GS III- Indian Economy

Dimensions of this Article:
  1. Budget at a glance
  2. Productivity Linked Incentive Schemes
  3. PM  GatiShakti
  4. Agriculture and Food Processing
  5. Accelerating growth of MSME
  6. Education
  7. Health
  8. Prime Minister’s Development Initiative for NorthEast, PM-DevINE
  9. Productivity Enhancement and Investment
  10. Transition to Carbon neutral economy
  11. Central Bank Digital Currency
  12. Financing of Investment
  13. Trends in Deficit
  14. Tax Proposals
  15. Electronics
  16. Gems and Jewellery sector
  17. Miscellaneous

Click Here To Know More: Summary of Union Budget 2022-23


Myanmar’s Military Coup


Context:

Going up against military’s will, they hold silent strike, clapping protests to mark coup anniversary

Relevance:

GS-II: International Relations (Foreign policies and developments affecting India’s interests), Polity and Governance

Dimensions of the Article:
  1. About Myanmar
  2. The story so far: Situation of chaos in Myanmar
  3. Form of government in Myanmar
  4. Myanmar’s significance at the International stage
  5. Historical perspective of India Myanmar relations
  6. Importance of Myanmar to India
  7. Issues in India-Myanmar ties
  8. India and handling the recent Coup d’état
  9. How other nations reacted to the recent Coup d’état
  10. Back to basics: What Democracy? Is Myanmar under Autocracy?

Click Here To Read More: Myanmar’s Military Coup


India and UK Launch Free Trade Agreement Negotiations


Focus: GS II- International Relations

Why in News?

The Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles launched the Free Trade Agreement negotiations with the United Kingdom.

  • The FTA is expected to facilitate the target of doubling bilateral trade between India and United Kingdom by 2030, set by the Prime Ministers of both the nations, in May 2021.

What are Free Trade Agreements (FTAs)?

Free Trade Agreements (FTAs) are the arrangements between two or more trading alliances that primarily agree to lessen or dispose of customs tariff and non-tariff barriers on substantial trade between them.

Click Here to Read MOre: India and UK Launch Free Trade Agreement Negotiations

 

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