Himachal Pradesh Affairs
HP Govt to reduce dependency on borrowing: CM
Notwithstanding the states precarious financial condition, the Himachal Pradesh Government is striving to maintain the pace of development in the state. The is committed to enhance the state’s own Resources and ensuring that the lack of funds does not hinder the state’s progress, said the Chief Minister Sukhvinder Singh Sukhu on Sunday.
Despite inheriting a substantial debt of Rs 75,000 crore from the previous BJP Government and facing financial restrictions on restoring the old pension scheme from the Union Government, the State Government is actively focused on resource mobilization, he said.
The Chief Minister said that the State Government has initiated several measures to generate additional revenue for the state exchequer, including seeking a larger share in power projects of Central PSUs that have recouped their costs. The government has also conducted auctions for liquor vends, resulting in an additional 40 per cent revenue for the state coffers, he said.
Sukhu pointed out that the Centre has imposed a ceiling on new proposals for external assistance through external aided agencies from Himachal Pradesh, which will be in place for three years from 2023-24 to 2025-26. By the end of the financial year 2025-26, Himachal Pradesh will only be eligible for approval of proposals up to Rs 2,944 crore from the Government of India, he added.
He said that the State Governments decision to reinstate the Old Pension Scheme (OPS) for the government employees has led to a deduction of Rs 1,779 crore from the borrowing ceiling for the financial year 2022-23.
Additionally, the limit of open market borrowing has been reduced by around Rs 5,500 crore as compared to the previous year. The State Government has obtained authorization for borrowing Rs 4,259 crore until December 2023, and it is expected to receive authorization for around Rs 8,500 crore.
National and International Affairs
PM SVANidhi Scheme Celebrates Successful Completion of 3 Years
The Minister for Housing and Urban Affairs, Hardeep Singh Puri, recently praised thePrime Minister Street Vendors AtmaNirbhar Nidhi (PM SVANidhi) Schemeon its momentous completion of three years. The scheme, launched in June 2020, aimed to empower street vendors by restoring self-EMPLOYMENT, self-sustenance, and self-confidence. Over the years, PM SVANidhi has emerged as one of the most beneficial and rapidly growing micro-credit schemes in India, fostering , digital Literacy, and offering dignity and stability to street vendors.
The Prime Minister Street Vendors AtmaNirbhar Nidhi (PM SVANidhi) Scheme is a special micro-credit facility aimed at providing affordable loans to street vendors in India. Launched with the objective of empowering street vendors and promoting their self-sufficiency, the scheme offers loans of up to 10,000 to over 50 lakh street vendors
Telangana Formation Day,observed annually onJune 2nd since 2014,is a state public holiday in Telangana, India. It marks the commemoration of the formation of the state of Telangana. The day is celebrated with various activities such as parades, cultural programs, and speeches. It is also an occasion to honor the sacrifices made by those who fought for the establishment of Telangana.
The creation of was a complex and lengthy process. The demand for a separate Telangana state emerged in the early 1960s, eventually leading to the passing of the Andhra Pradesh Reorganisation Act in 2009. This act paved the way for the formation of Telangana. Since its establishment, Telangana has experienced positive developments, including increased Investment and Growth. The state has also witnessed improvements in POVERTY reduction and EMPLOYMENT opportunities.
Telangana Formation Day serves as a moment of celebration for the states accomplishments and an optimistic outlook for its future. It signifies the progress and prosperity that Telangana has achieved as an individual state.
Unified Payment Interface (UPI) transactionsin India soared to unprecedented levels in May 2023, with a total transaction value of Rs 14.3 trillion and a volume of 9.41 billion. This represents a 2% increase in value and a 6% increase in volume compared to the previous month of April. The surge in UPI transactions comes at a time when the Indian government is actively promoting digital payments and aims to bring various tax collections under the digital payment ecosystem.
In May, UPI transactions experienced remarkable Growth, with a value of Rs 14.3 trillion and a volume of 9.41 billion. The transaction volume witnessed a staggering 58% increase compared to the same period in the previous financial year, while the transaction value rose by an impressive 37%. These numbers highlight the growing acceptance and adoption of UPI as a preferred mode of payment in India.
In a setback forNorth Koreasspace ambitions, the countrys first attempt at launching a military spy satellite ended in failure. South Koreas military confirmed that wreckage from the carrier rocket was found in its western waters, indicating a failed launch.
Abnormalities and Low Reliability Cited as Causes