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News in Short

News in Short - 11-June-2019

Amasebailu: 1st 100% Solar Powered Village in Karnataka

Date: 11 June 2019 Tags: miscellaneous
  • Amasebailu village located left bank of Haldi river in Udupi district became first village in Karnataka to have 100% solar-powered houses.
  • It was tagged as a Solar Gram Panchayat after all 1858 houses in the village were illuminated with solar lamps.
  • It achieved this feat under Solar Village Project, a joint initiative of Amasebailu Charitable Trust, Dharmasthala Rual Development Project, Karnataka Bank Limited, and Amasebailu Grama launched in 2016. The project was also funded by Centre and the State Government.

RBI to infuse Rs.15,000 crore into financial system

Date: 11 June 2019 Tags: Banking Schemes & Policies
  • Reserve Bank of India (RBI) has decided to infuse Rs.15,000 crore into the financial system through bond purchases.
  • The capital infusion into the system will be through Open Market Operations (OMO) through purchase of government bonds (G-sec).
  • It will be conducted through purchase of six G-sec under OMOs through multi-security auction using multiple price method.
  • RBI made this decision after assessing of prevailing liquidity conditions and also of durable liquidity needs that are going forward.

Bihar Government prescribes jail to children abandoning elderly parents

Date: 11 June 2019 Tags: Bills & Laws
  • Bihar State Cabinet chaired by Chief Minister Nitish Kumar has approved proposal to punish sons and daughters, who abandon their elderly parents, with jail term. 
  • The proposal was moved by state's Social Welfare Department. It proposes punishments for wards do not look after their parents properly in their old ages.
  • It proposes such cases to be registered under non-bailable section after receiving complaints from elderly parents.

GST council to introduce new GST return system

Date: 11 June 2019 Tags: Basics of Economics
  • Goods and Services Tax (GST) Council has decided to introduce new GST return system to facilitate taxpayers. It aims at easing transition to the new return system.
  • The prototype of this offline tool already has been shared on common portal to give the look and feel of the tool to the users.
  • The tool is the same as that of the online portal.  There are three main components to the new return (i) one main return (FORM GST RET-1) and (ii) two annexures (FORM GST ANX-1 and FORM GST ANX-2).