Current Affairs of 24 February


PM-KISAN Scheme Launched
PM-KISAN Scheme Launched
PM-KISAN Scheme Launched - Prime Minister Narendra Modi officially launched the Rs 75,000-crore Pradhan Mantri Kisan Nidhi (PM-KISAN) at a farmer’s rally in Gorakhpur. He transferred the first instalment of Rs 2,000 each to over one crore farmers. State governments will send list of farmers who avail this scheme to central government and 12 crore small farmers in the country who have 5 acres or less land will benefit from it.

What is PM-KISAN Scheme
What is PM-KISAN Scheme
What is PM-KISAN Scheme - The Pradhan Mantri Kisan Samman Nidhi Yojana (PM-KISAN) was announced in the interim Budget 2019-20 on February 1, 2019. Under the Scheme, Rs 6,000 will be given per year to small and marginal farmer families having combined land holding/ownership of up to 2 hectares. The amount will be given in three instalments of Rs.2000 each. The amount will be transferred directly to the bank account of beneficiaries through Direct Benefit Transfer. 

GST Council slashed tax rates on Housing
Tax rates on Housing
GST Council slashed tax rates on Housing - In a big relief to home buyers, the GST Council slashed tax rates on under-construction housing properties to 5% without input tax credit, from the existing 12%. The Council also cut GST rates on affordable housing to 1% from the current 8% and expanded the scope of affordable housing to those costing up to Rs 45 lakh and measuring 60 sq. metre in metros and 90 sq. metre in non-metro cities. The new tax rates will come into effect from April 1, 2019.

Chabahar Port Started
Chabahar Port Started
Chabahar Port Started - Afghanistan began exports to India through an Iranian Chabahar port as the landlocked, war-torn nation turns to overseas markets to improve its economy. The consignment will be shipped to the Indian city of Mumbai. Chabahar port is the result of healthy cooperation between India, Iran and Afghanistan. India has helped developed this route to allow both countries to engage in trade bypassing Pakistan.

Aerial Surveillance System
Aerial Surveillance System
Aerial Surveillance System - The Indian Air Force (IAF) has commissioned the development of an aerial surveillance system for monitoring suspicious moments under dense foliage cover along the international border and some parts within the country. This hyper spectral imagery programme, a first for the country, seeks to locate and identify suspicious movements and is expected to be operational in the next two years. The IAF is spending Rs 13 crore for the programme.