A smart fluid or water meter system 10 includes fluid supplying and receiving centers 20, 30 connected via a supply line 21. Further, a fluid metering member 40 is coupled to the supply line 21, and includes a fluid regulating member 41 to regulate the fluid therethrough, and a data transceiver 42, coupled to the fluid regulating member 41 to regulate the supply of fluid. A self-power generating source 50 is also provided to continuously charge the fluid metering member 40 for continuous operation. Various self- power generating source, such as, a thermoelectric generator, a water battery, a turbine power, and radio spectrum may be used for said purpose. The system may be provided with rechargeable battery to for recharging the battery and storing the power. Moreover, a network operation center 60 is coupled to receive and process the data to exchange relevant information or command to centers 20, 30 and the fluid metering member 40. Further in an optional embodiment, the smart systemoptionally comprises an Artificial Neural Network (ANN) module 2030 for self-training. The self-trained smart system identifies individual events (toilet flush, shower, washing machine cycle etc.) andautomatically initiate the related action such as but not limited to reporting the event, restricting the flow rate or restricting the total volume per day etc.