Explanation: Gautam Adani has now lost his position in the elite club of the world’s 10 richest billionaires.

Explanation: The Economic Survey 2022-23 estimated India’s GDP growth at 6.5 per cent, which is lower than the projected 7 per cent growth for the ongoing financial year.

Explanation: Army’s Punjab Regiment has been adjudged the best marching contingent among the three services, while the Central Reserve Police Force’s (CRPF) marching contingent won the top prize among the CAPFs and other auxiliary forces.

Explanation: Among the ministries and departments, the tableau of the Ministry of Tribal Affairs (Eklavya Model Residential Schools) won the best prize

Explanation: The Union Public Service Commission (UPSC) has recommended the name of Dr Rajeev Singh Raghuvanshi as the new Drugs Controller General of India (DCGI).

Explanation: Shanti Bhushan, a former law minister, and renowned counsel died in Noida. He was 97 and served as India’s Law Minister from 1977 to 1979. Bhushan was a member of Congress and thereafter the Janata Party. He served as Union Law Minister in the Morarji Desai government from 1977 to 1979 and was a Rajya Sabha member from 14 July 1977 to 2 April 1980.

Explanation: Union Finance Minister Nirmala Sitharaman stated during the presentation of the Union Budget on February 1, 2023, that the average processing time for income tax returns has been lowered from 93 to 16 days. She stated that 45 percent of ITRs are handled within 24 hours. “The administration aims to bring out next-generation universal IT Return forms as well as reinforce the grievance redressal process,” she explained.

Explanation: The Union Budget 2023-24 includes a capital spending of Rs 2.4 lakh crore for Indian Railways. This is the largest allocation ever made to the national transporter, and it follows the pattern set last year, with a total budgetary assistance of Rs 1.37 lakh crore in fiscal 2022-23. The funds will be used for railway lines, electrification, and station improvements, among other things.

Explanation: According to FM Nirmala Sitharaman, 50 tourist spots would be chosen through a challenge mechanism and developed as a comprehensive package for local and international tourism. Tourism promotion will be carried out on a mission basis, with the active participation of states, the convergence of government programs, and public-private partnerships.

Explanation: During the budget address on February 1, 2023, Finance Minister Niramala Sitharaman proposed a Rs 9,000 crore infusion into the corpus to reform the credit guarantee plan for MSMEs. According to the finance minister, the policy would go into force on April 1, 2023. Sitharaman further stated that the announced injection will enable extra collateral-free guaranteed credit of Rs 2 lakh crore and cut credit costs by 1%.