The Young Chronicle: For 4th Graders April 3rd, 2015

March 28th, 2015

THE YOUNG CHRONICLE
For 9-10 Year Olds or 4-5th Graders

Inside this issue:
Kids Shine At National Film

2

The Union Budget Comes into Effect

The Union budget is
presented each year by
the Finance Minister of
Author of Slumdog
3
Millionaire, to become
the government of India.
Secretary in the Foreign Affairs Ministry
Mentioned in article 112
Bihar’s Cheating Scan- 3
of the Indian Constitudal
tion, it is referred to as
Saina Nehwal Turns
4
the Annual Financial
Number 1
statement. The budget
is presented as the finance bill, and it
comes into effect only from the beginning of
financial year, i.e. 1 April. It needs to be approved and passed by both the houses of
the Parliament, the Rajiya and Lok Sabha.
Plane Crashes in the
Near Past

2

The 2014 elections saw credible changes,
not only in the government, but also the
economic status. With a GDP growth to
7.4% in 2014-15, (the increase was primarily because of the change in the way GDP is
calculated) the government assured a GDP
rise of 8 to 8.5%in 2015-16.
While a few anticipated that tax slabs would
be revised, the government did not make
any changes to it. A change in the tax slab
would have reduced the tax paid by people
in the lower income bracket, which they
could have used for further investments.

A total tax exemption of up
to Rs. 4, 44,200 can be
achieved through investments and savings; and
100% exemption achieved
for contribution to Swachch
Bharat, apart from CSR.
Service Tax has been increased to 14% this year
as compared to 12.36%
last year. Which means
that food in restaurants will
get a bit more expensive.
Corporate Taxes are to be
reduced to 25% over next
four years.
Rs. 2,46,726 crore have
been allocated to the defense, which will hopefully
reduce casualties caused
by old and faulty equipment. There will also be a
focus on developing defence equipment under the

Make in
India

Eiffel tower’s elevators were
not ready when it opened to the
public March 31, 1889.
Gustave Eiffel and the French
dignitaries invited, had to climb
the 1710 steps that then led to
the Tower’s third floor.

Scheme. Also, Rs. 75 crore will be allocated towards electric car production.
The budget proposes to build six crore toilets across the country under the
Swachh Bharat Abhiyaan.
The government aims to provide housing to
all by 2020. Furthermore, it also aims to
provide a new scheme for physical aids
and assisted living devices for people aged
over 80.
The government has assured to build more
educational institutions like IIM, AIMS, PG
Institutes and other essential institutes all
across the country. It also aims to upgrade
80,000 secondary schools.
Overall, the
budget
seems
to
be a good
effort, let’s
hope it actually helps
the people
of the country.

126 YEARS OF THE EIFFEL
March 31, 1889 is the day the Eiffel Tower opened to the public in Paris, France.
1. The tower’s elevators were not ready
when the Eiffel Tower opened to the public
March 31, 1889. Gustave Eiffel and the
French dignitaries invited, had to climb the
1710 steps that then led to the Tower’s
third floor. There, he unveiled the French
flag, which received a 21 gun salute.
Gustave Eiffel wrote on a lady’s fan, ‘The
French flag is the only flag to have a three
hundred metre high staff’.
2. The Eiffel Tower would remain the tallest monument in the world until the Chrysler Building was built in New York in 1929.
On the evening of its inauguration, the

rafters and platforms were lit up
by 10000 gas lamps. Two floodlights at the top illuminate the
monuments of Paris. The red,
white and blue headlight at the
top is the most powerful in the
world.
3. The tower was commissioned
as part of a competition by the
Journal Officiel to “study the
possibility of erecting an iron
tower on the Champs-de-Mars,”
according to the tower’s website.
The proposal by Eiffel, Koechlin
and Sauvestre was selected out
of 107 entries.

4. The tower was commissioned to coincide with
the opening of the Paris World’s Fair (Exposition
Universelle), a celebration of the 100th anniversary of the French Revolution. The exposition
opened in May, with the Eiffel Tower serving as
the entrance to the fairgrounds. The elevators
were completed by the end of the May, but more
than 30,000 visitors took the trek up 1,710 steps
in the days after the tower officially opened to
the public.
5. The 20-year lease on the land by the exposition expired in 1909, but the tower was saved because of its usefulness as an antenna for radio
transmission. Eiffel encouraged scientific experiments using the tower, and that spared it from
destruction.