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Press Information Bureau THE HINDU Ashish Malik's Daily Current Affairs (With MCQs)- 02/02/19 unacademy - AshishMalik-8996
INTERIM BUDGET 2019-20 Rupee comes from Rupee goes to I5 Borrowings and Other Corporation Tax Central Sector Schemes Interest Payments Liabilities 21p Income Tax Centrally 18p 19p 17p Sponsored 12 Schemes Defence 9p 8p Non-Debt Capital Receipts Customs 4 p Other Expenditure Subsidies RUPEE RUPEE 8p 9p 2019 Union Excise Duties 8p 5 Pensions 21 p 8p Non-Tax Revenue Goods and Service Tax States' Share of Taxes & Duties inance Commission and Other Transfers
Interim Budget and Vote on Account An Interim Budget is not the same as a 'Vote on Account'. . While a 'Vote on Account, deals only with the expenditure side of the government's budget, an Interim Budget is a complete set of accounts, including both expenditure and receipts An Interim Budget gives the complete financial statement, very similar to a full Budget.
* The vote-on-account is normally valid for two months . As a convention, a vote-on-account is treated as a formal matter and passed by Lok Sabha without discussion o But passing for budget happens only after discussions and voting on demand for grants.
U.S. to pull out of nuclear Treaty The U.S is suspending its obligations under the Intermediate-Range Nuclear Forces (INF) Treaty effective February 2 and will withdraw from the treaty in six months . The 1987 Intermediate-Range Nuclear Forces (INF) Treaty required the United States and the Soviet Union to eliminate and permanently forswear all of their nuclear and conventional ground-launched ballistic and cruise missiles with ranges of 500 to 5,500 kilometers. INF Treaty, the United States and the Soviet Union destroyed a total of 2,692 short-, medium-, and intermediate-range missiles by the treaty's implementation deadline of June 1, 1991
Interesting Facts INF Treaty covers all types of ground-launched cruise and ballistic missiles - whether their payload is conventional or nuclear. Moscow and Washington are prohibited from deploying these missiles anywhere in the world, not just in Europe. However, the treaty applies only to ground-launched systems. Both sides are free to deploy air- and sea- launched missiles within the 500-to-5,500-kilometer range.
Reason for US decision? US has repeatedly alleged that Russia was violating the treaty by fielding a ground-based cruise missile, the Novator 9M729 ("SSC-8" in NATO terminology) that could strike Europe at a short notice, an allegation that Russia has repeatedly denied. . The Russians have raised counter-allegations against the U.S., with regard to launchers for antiballistic missile systems in Europe The U.S. has also been concerned that China has been gaining a strategic advantage over it as it is not party to the treaty and bound by its terms. Withdrawal from the treaty will increase the weapons options for the U.S. in the Pacific, where China has increased its influence.