NATIONAL
Lok Sabha Passed Goods and Services Tax Bill 2014
Lok Sabha on 6 May passed the Goods and Services Tax (GST) Bill, 2014 which is also known as Constitution (122nd Amendment) Bill. The Bill seeks to amend the Constitution in order to introduce the Goods and Services Tax (GST). Consequently, the bill also seeks to carry out new indirect tax regime in the country that will subsume various central and state levies like sales tax, excise and service tax except taxes on the supply of alcoholic liquor for human consumption and petroleum products.Transition from the traditional taxation to GST will boost India’s growth by up to 2.5 percentage points.
PM Narendra Modi Launches Three Social Security Schemes
Prime Minister Narendra Modi on 9 May launched three mega social security schemes in Kolkata, West Bengal. The schemes were launched simultaneously at 115 places in the country with Central and State Chief Ministers and senior ministers attending the functions.
1) Pradhan Mantri Jeevan Jyoti Yojana (PMJJBY)
2) Pradhan Mantri Suraksha Bima Yojana (PMSBY)
3) Atal Pension Yojana (APY)
1) Atal Pension Yojana (APY) :- Under APY scheme, the pension subscribers will receive a fixed minimum monthly pension ranging from 1,000 rupees to 5,000 rupees at the age of 60 years. The fixed minimum monthly pension will be depending on the contributions subscribers. The minimum age of joining – 18 years and maximum age is 40 years. Focus of APY – To target unorganised sector workers.
2) Pradhan Mantri Jeevan Jyoti Yojana (PMJJBY):- Under the PMJJBY, the insurance subscriber will get an annual life insurance in case of death. Eligibility – Available any person in the age group of 18 to 50 years having a bank account. Risk Coverage – 2 Lakh rupees in case of death due to any reason. Payment Mode of premium – 330 rupees per annum will be directly auto-debited by the bank from the subscribers account.
3) Pradhan Mantri Suraksha Bima Yojana (PMSBY):- Under the PMSBY, the insurance subscriber will get annual life insurance in case of accidental death, partial disability or full disability. Eligibility – Available to any person in the age group 18 to 70 years. Risk Coverage – For accidental death and full disability– 2 Lakh rupees For partial disability – 1 Lakh rupees. Payment Mode of premium – 12 rupees per annum will be directly auto-debited by the bank from the subscribers account in case of long-term option.
Parliament Passed Black Money Bill
The Rajya Sabha on 13 May passed the Black Money Bill. It was earlier passed by the Lok Sabha on 11 May 2015. According to the new Bill those who conceal income and assets, and indulge in tax evasion in relation to foreign assets can face rigorous imprisonment of up to 10 years. They will also be liable to face a penalty of 300 per cent of taxes on the concealed income and assets.
PM Narendra Modi Launched Doordarshan’s Farmer-Centric Kisan TV Channel
Prime Minister Narendra Modi on 26 May launched India’s first television channel DD Kisan dedicated to farmers in New Delhi. This 24-hour channel is initially in Hindi and is dedicated to agriculture and allied sectors of India. It seeks to disseminate real-time inputs to farmers on new farming techniques, water conservation and organic farming among other information.
STATES
BHEL commissioned 195 MW Thermal Unit of KBUNL In Bihar
State-owned electrical equipment maker Bharat Heavy Electricals Limited (BHEL) on 4 May commissioned a 195 MW thermal unit of Kanti Bijlee Utpadan Nigam Limited (KBUNL) in Muzaffarpur, Bihar. This was the first 195 MW unit to be commissioned by BHEL at the 2×195 MW Muzaffarpur Thermal Power Station (TPS) Plant of KBUNL.
PM Narendra Modi Inaugurated IISCO Steel Plant at Burnpur
Prime Minister Narendra Modi on 10 May inaugurated the upgraded IISCO Steel Plant (ISP) in Burnpur, West Bengal. The ISP houses the largest blast furnace of India. The ISP was modernised by the Union Government at a cost of 16000 crore rupees.
UP Govt Launched Samajwadi Water ATM scheme
Uttar Pradesh Chief Minister Akhilesh Yadav on 12 May launched Samajwadi water ATM scheme at bus stations. It seeks to provide potable water to bus passengers at reasonable price.In this regard, state government will install water ATMs at most of the bus stations which will provide potable water at the rate of 1 rupee per litre and cold water at 2 rupees per litre.
Punjab Becomes First State To Issue Soil Health Cards To Farmers
Punjab Agriculture Department on 13 May launched a pan-state programme to monitor the soil health of every farm in the state by issuing them personalised Soil Health Cards (SHCs). With this, Punjab became the first state in India to issue Soil Health Cards to farmers.Prime Minister had formally launched the nationwide ‘Soil Health Card’ Scheme from Suratgarh, Rajasthan in Februrary 2015.
Read more: Current Affairs May 2015 Study Material | FreeJobAlert.com http://currentaffairs.freejobalert.com/2015-current-affairs-study-material/10091/#ixzz5SP3ty
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