Current Affairs – February, 2019

Latest Current Affairs February, 2019 with Current Affairs, news summary on current events of National and International importance of February, 2019 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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Economic Survey Report for 2018-19 of Delhi

The government of Delhi has tabled the Economic Survey Report for 2018-19 in Delhi Assembly. The Survey report highlights the following facts and figures:

  • Delhi witnessed a growth of 8.61% in 2018-19 and the GDP increased of Delhi at constant prices (inflation-adjusted) increased to Rs 5,54,908 crore during 2017-18.
  • The tax collection registered a growth of 14.07% in 2017-18 and the sources of tax revenues were GST at 13,620.84 crores and VAT at Rs 11,149.17 crore.
  • There was a reduction in VAT collection as most items have been subsumed into GST.
  • 2016-17 had witnessed the rate of tax collection crashing to 3.03%, which the government had attributed to demonetisation and “refunds” to various bodies.
  • The tax collection growth for 2018-19 has been projected at 17.69% over 2017-18.
  • The average income of Delhiite is around three times more than the national income average. The report estimates the Delhi’s per capita income at Rs 3,65,529 against the national average of Rs 1,25,397.
  • The number of vehicles in Delhi grew by 5.8% in the year 2017-18 with the number of e-rickshaws increasing by a huge margin.
  • There was an increase in the supply of electricity in Delhi from 37,484 million units in 2014-15 to 38,510 million units in 2017-18.

The report notes that Delhi has maintained its consistent revenue surplus which was Rs 4,913 crore during 2017-18 and the expenditure incurred on social service sectors in Delhi increased from 68.71 per cent in 2014-15 to 74.76 per cent in 2017-18.

Karnataka High Court quashes ED freeze on Greenpeace Bank Accounts

The Karnataka High Court has quashed the order of Enforcement Directorate (ED) which froze the bank accounts of Greenpeace India. The court noted that the validity of the ED order has lost its efficacy on account of efflux of time as the period of 60 days has expired.

The accounts of the Greenpeace India were frozen on the account of the alleged violations of the Foreign Exchange Management Act (FEMA). The freezing of accounts had led to a financial crisis for the organisation and forced it to reduce its workforce substantially.

Why the accounts were frozen?

The Enforcement Directorate had alleged that Greenpeace India had incorporated Direct Dialogue Initiatives India Pvt Ltd (DDIIPL) in 2016 after the Central government had cancelled Greenpeace India’s Foreign Contribution Regulation Act licence in September 2015 for allegedly violating norms.

The ED argues that DDIIPL was created to facilitate the operational activities of Greenpeace. ED also alleged that DDIIPL spent around Rs 21 crore for its expenses since it was set up, “with no substantial revenue generation so far”.

Greenpeace India had strongly objected to the ED claims and had stated they would provide the government authorities with required financial details as they do not have anything to hide. Alleging the claims of ED as false and frivolous, Greenpeace India had said that false claims and accusations were part of a larger design to muzzle democratic dissent in the country and had challenged the order of ED in the Karnataka High Court.

Greenpeace India

Greenpeace India is the Indian arm of the international NGO Greenpeace. The NGO mainly works in the area of environmental conservation. Greenpeace through non-violent, creative confrontation aims to expose environmental problems and to force the solutions which are essential to a green and peaceful future.