01 February - The Union Budget of India

 

The Union Budget of India is the annual financial statement presented by the Finance Minister in Parliament, outlining the government's revenue and expenditure for the upcoming fiscal year (April 1 – March 31). It is a crucial policy document that reflects the government's economic priorities, taxation policies, and social welfare plans.

Key Features of the Union Budget

1. Presented on February 1 – The budget is presented on February 1 each year to allow for smooth implementation from the start of the fiscal year.
2. Divided into Two Parts:
   • Part A: Deals with overall economic policy, including allocations for different sectors like infrastructure, healthcare, education, and defense.
   • Part B: Focuses on tax proposals, including changes in direct taxes (income tax) and indirect taxes (GST, customs duties, etc.).
3. Prepared by the Finance Ministry – It is formulated after consultation with various ministries, stakeholders, and economic advisors.
4. Parliamentary Approval – After the budget speech, it goes through discussions and approvals in Lok Sabha and Rajya Sabha, followed by implementation from April 1.

Types of Budgets

1. Union Budget (Annual Budget) – Covers the entire economy.
2. Railway Budget (Merged with Union Budget in 2017).
3. Interim Budget – A temporary budget presented before general elections.
4. Vote on Account – Grants temporary approval for government expenses if the budget is delayed.

Historical Facts

• The first Union Budget was presented by R. K. Shanmukham Chetty on 26 November 1947.
• Morarji Desai has presented the most budgets (10 times).
• Nirmala Sitharaman presented the first paperless budget in 2021.

The Union Budget plays a vital role in shaping India's economic policies, taxation structure, and welfare programs, making it one of the most significant annual financial events in the country.

01 February - The Indian Army Dental Corps was established in 1941

 

The Indian Army Dental Corps was established on 01 February 1941.The Indian Army Dental Corps is an integral part of the Indian Army Medical Services.Dental officers in the Indian Army provide dental care to army personnel and their dependents.They are responsible for maintaining oral health and treating dental issues among the military community.

The roles and responsibilities of dental officers in the Army Dental Corps may include routine dental examinations, treatment of dental conditions, oral surgery, and preventive dental care. These dental professionals play a crucial role in maintaining the overall health and readiness of military personnel.

 

01 February - Abolition of Slavery Day Mauritius

 

Abolition of Slavery Day, also known as Emancipation Day, is observed in Mauritius on February 1st each year. This day commemorates the abolition of slavery in Mauritius and marks an important historical milestone.

The abolition of slavery in Mauritius took effect on February 1, 1835, following the Slavery Abolition Act passed by the British Parliament. This act emancipated slaves in most British colonies, including Mauritius. The day is a time to reflect on the struggles of those who were enslaved, celebrate the end of a dark chapter in history, and promote awareness about the importance of human rights and equality.

On Abolition of Slavery Day in Mauritius, various events and activities are organized, including cultural programs, exhibitions, and educational initiatives that focus on the history of slavery, the abolition movement, and the continued fight against modern forms of exploitation and discrimination. The day serves as a reminder of the commitment to human dignity and the ongoing efforts to promote social justice.

01 February - First volume of Oxford Dictionary was published in 1884

 

The first volume of the Oxford English Dictionary (OED), not to be confused with the modern single-volume Oxford Dictionary, was published on February 1, 1884. The full title of the dictionary was "A New English Dictionary on Historical Principles; Founded Mainly on the Materials Collected by the Philological Society."

The Oxford English Dictionary is a comprehensive dictionary of the English language, tracing the historical development and usage of words. The project was initiated by the Philological Society of London in the 19th century, and the first editor of the dictionary was Sir James Murray. The publication of the full dictionary spanned many years, with new volumes released as the work progressed. The complete first edition of the Oxford English Dictionary was published in ten volumes in 1928. Since then, it has undergone revisions and updates.

01 February - Unit Trust of India' established in 1964

 

The Unit Trust of India (UTI) was established on February 1, 1964. It was created as a financial institution to promote savings and investment among the Indian public. UTI pioneered the concept of mutual funds in India and played a crucial role in channeling household savings into the capital market.

The UTI Act was passed in Parliament, and UTI started its operations on February 1, 1964. Over the years, UTI became a significant player in the Indian financial market, managing a variety of mutual fund schemes. However, in 2003, UTI was restructured and bifurcated into two separate entities: UTI Mutual Fund, which continued to manage mutual funds, and UTI Asset Management Company (UTI AMC), responsible for the asset management functions.

The mutual fund industry in India has since grown, with several other asset management companies entering the market. UTI Mutual Fund remains one of the prominent mutual fund houses in the country.

 

01 February - Mary Shelley death anniversary

 

Mary Shelley (1797–1851) was an English novelist best known for her Gothic novel "Frankenstein; or, The Modern Prometheus," published in 1818. She was born Mary Wollstonecraft Godwin on 30 August 1797, in London, England, to philosopher William Godwin and feminist Mary Wollstonecraft.

Mary Shelley's most famous work, "Frankenstein," tells the story of Victor Frankenstein, a young scientist who creates a sapient creature in an unorthodox scientific experiment. The novel explores themes of scientific ethics, ambition, and the consequences of playing god. "Frankenstein" is considered one of the earliest examples of science fiction and has had a profound impact on literature and popular culture.

Mary Shelley's life was marked by personal tragedies. She experienced the deaths of several close family members, including her mother, who died shortly after Mary's birth, and her husband, the poet Percy Bysshe Shelley, who died in a boating accident in 1822. Despite these challenges, Mary Shelley continued to write and publish other works, including novels like "The Last Man" and "Mathilda."

Mary Shelley's contributions to literature and her exploration of philosophical and moral themes in "Frankenstein" have cemented her place as one of the prominent figures in English literature.

 Mary Shelley passed away on 01 February 1851.

 

 

01 February - Jacob Roggeveen, Dutch explorer birth anniversary

 

Jacob Roggeveen (1659–1729) was a Dutch explorer who is best known for leading the first recorded European expedition to discover and explore the Easter Island. He was born on 01 February 1659, in Middelburg, in the Zeeland province of the Netherlands.

In 1721, the Dutch West India Company commissioned Roggeveen to lead an expedition to find Terra Australis, a hypothetical southern continent. Instead, during his voyage, he encountered Easter Island in the southeastern Pacific Ocean on 05 April 1722. Roggeveen named it Paasch-Eyland (Easter Island) due to the day of the discovery, which was Easter Sunday.

Roggeveen continued his explorations, reaching other islands in the Pacific, such as Samoa and the Marquesas Islands. After returning to the Netherlands, he wrote an account of his travels, titled "A Voyage Round the World," which was published posthumously in 1728.

Jacob Roggeveen died on 31 July 1729, in Middelburg. His exploration of Easter Island marked a significant moment in the history of European contact with the remote islands of the Pacific.

 

01 February - Air Force Day Nicaragua

 

Nicaragua celebrates Air Force Day, also known as "Día de la Fuerza Aérea de Nicaragua," on February 1st each year. This day is dedicated to honoring the country's air force and its contributions to national defense.

Nicaragua's Air Force plays a crucial role in safeguarding the nation's airspace and supporting various defense and security initiatives. The day is marked with official ceremonies, parades, and events that celebrate the achievements and capabilities of the Nicaraguan Air Force.

01 February - Federal Territory Day (Kuala Lumpur, Labuan and Putrajaya, Malaysia)

 

Federal Territory Day is celebrated in Malaysia on February 1st each year. This day commemorates the establishment of the three federal territories in Malaysia: Kuala Lumpur, Labuan, and Putrajaya. These territories are directly governed by the federal government rather than being part of any specific state.

Here's a brief overview of the federal territories:

1. Kuala Lumpur: Kuala Lumpur is the capital city of Malaysia and the country's largest city. It was designated as a federal territory on February 1, 1974. Kuala Lumpur is a major economic, cultural, and financial hub.

2. Labuan: Labuan is an island and federal territory off the coast of Sabah. It is known for its offshore financial services and is often referred to as the Federal Territory of Labuan. Labuan was declared a federal territory on April 16, 1984.

3. Putrajaya: Putrajaya is a planned city and serves as the administrative capital of Malaysia. It was designated as a federal territory on February 1, 2001, officially taking over the administrative functions from Kuala Lumpur.

Federal Territory Day is marked with various events, celebrations, and activities in these territories. It provides an opportunity to reflect on the development and significance of these areas in the overall governance and administration of Malaysia.