Top 5 Current Affairs: 7 February 2019

Setback for chit funds, Cabinet approves amendments to Banning of Unregulated Deposit Schemes Bill, 2018

The Union Cabinet on February 6, 2019 approved the proposal to move official amendments to the Banning of Unregulated Deposit Schemes Bill, 2018. The amendments were recommended by the Standing Committee on Finance (SCF).

The official amendments will strengthen the Bill to effectively tackle the menace of illicit deposit taking activities in the country, and prevent schemes such as Saradha Chit Fund Scheme from duping poor people of their hard earned savings.

International Financial Services Centre: Cabinet approves setting up of unified authority for regulating IFSCs in India

The Union Cabinet on February 6, 2019 approved establishment of a unified authority for regulating all financial services in International Financial Services Centres (IFSCs) in India through the International Financial Services Centres Authority Bill, 2019.

The International Financial Services Centre is the institution that caters to customers outside the jurisdiction of the domestic economy. These centres deal with flows of finance, financial products and services across borders.

Cabinet approves setting up of Rashtriya Kamdhenu Aayog for cows

The Union Cabinet, chaired by Prime Minister Narendra Modi, on February 6, 2019 approved the proposal for establishment of Rashtriya Kamdhenu Aayog for conservation, protection and development of cows and their progeny.

The Rashtriya Kamdhenu Aayog will work in collaboration with Veterinary, Animal Sciences or Agriculture University, departments or organisations of the Central and State Governments engaged in the task of research in breeding and rearing of cow, organic manure, biogas, etc.

Swachh Bharat Mission launches 'Darwaza Band - Part 2' campaign; Amitabh Bachchan stars in campaign films

The Swachh Bharat Mission (Grameen) on February 6, 2019 launched the 'Darwaza Band -Part 2' campaign for sustainability of the Open Defecation Free (ODF) status of villages across the country.

As per Amitabh Bachchan, “The campaign talks about how a toilet must be used by all, always and under all circumstances (har koi, har roz, hamesha).” The actor dedicated a re-adaptation of a poem of his father Late Harivansh Rai Bachchan to the Swachh Bharat Mission - “Swachh Tann, Swachh Mann, Swachh Bharat, Mera Parichay”.

States’ Budget 2019: Assam Finance Minister Himanta Biswa Sarma presents Rs 1,193.04 crore state budget 2019-20

Finance Minister Piyush Goyal on February 1, 2019 presented the Union Interim Budget 2019-20, an estimate of revenues and expenditure of the Government during a financial year 2018-19. On the similar lines, various state governments have begun presenting the budget of their respective states.

Assam Finance Minister Himanta Biswa Sarma on February 6, 2019 presented Rs 1,193.04 crore deficit budget for 2019-20. The Assam Budget 2019 introduces several new schemes including sale of rice at Rs 1 per kilogram for the poor and providing 1 tola (10 gram) gold to the brides.

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