The Union finance ministry has rejected a proposal sent by the labour ministry to double the monthly minimum pension amount to Rs 2,000 under the Employee Pension Scheme (EPS). The Central Board of Trustees (CBT), the apex decision-making body of the Employee Provident Fund Organisation (EPFO), was apprised of the proposal's rejection during a meeting on Saturday. "According to the recommendations made by a highly-empowered monitoring committee constituted by the government, a proposal to increase the minimum pension under EPS from Rs 1,000 to Rs 2,000 per month, by providing additional budgetary support, was sent to the ministry of finance.
Empowered committee of state finance ministers on value-added tax has sought to allay fears of traders that the new tax system will lead to increase in prices, stating that the worldwide experience did not support this apprehension.
The empowered committee on value added tax will meet on Saturday to take up the issues arising after three months of implementation of the new tax system by 21 states, including compensation formula for any losses incurred by states due to VAT.
The Empowered Committee of State Finance Ministers has been asked to sort out some of the contentious issues on the value-added tax including the refunds on credit and exemption for exports.
The much-awaited introduction of value added tax regime from April one this year will be delayed by a few days because of some "unavoidable procedural tangles".
In a major step towards introduction of Value-added Tax from April 2005, states on Wednesday endorsed a 'white paper' on the new tax regime, which would be formally issued on January 17.
The committee headed by former Chief Justice of India A S Anand is expected to submit its report on the controversial issue by February, 2012.
In a communication to the empowered committee on PLI recently, the Indian Cellular & Electronics Association (ICEA) has stated that except one player (Samsung), all the other eight players (which include vendors of Apple Inc) selected under the scheme were facing numerous challenges in fulfilling the qualification criteria.
The Congress has so far announced 82 candidates for the seven-phase Lok Sabha polls beginning April 19.
Prime minister Narendra Modi on Saturday asserted that India will leave "no stone unturned" in its efforts to organise the 2036 Olympics as the government expressed a strong desire to host the biggest sporting event in the world.
If the concerns over risking political capital are overcome, the long-term gains for the Indian economy will be immense, asserts A K Bhattacharya.
The apex court also referred to a central empowered committee report that 31 hills or hillocks have vanished in the state's Aravalli area.
In its election manifesto -- 'Sankalp Patra' -- the Bharatiya Janata Party has vowed to implement the Union Civil Code (UCC), maintain peace in the Northeast, among other key poll promises.
He will succeed Kerala Finance Minister K M Mani.
The Lok Sabha has already passed the Bill.
In the second major decision to end the UPA government's legacy, Prime Minister Narendra Modi on Tuesday scrapped four cabinet committees, including one on Unique Identification Authority, as part of his efforts to minimise decision-making processes.
The top court said the exclusion of a member of the Opposition from the House just because of a perspective which may not be consistent with the viewpoint of the government is a serious issue.
Kishore said the Congress and its supporters are bigger than any individual and Gandhi should not be stubborn that it must be him who will deliver for the party despite repeated failures.
Their eyes trained on the big-ticket T20 World Cup in the Americas in June, the national selectors aren't finding it easy to pick just one among Rohit Sharma and Virat Kohli for the upcoming Afghanistan series.
It will help to lower their costs by 7-8 per cent.
Prime Minister Narendra Modi on Friday announced a Rs 100 per cylinder cut in cooking gas LPG price to ease financial burden on households. Non-subsidised cooking gas price will be cut to Rs 803 per 14.2-kg cylinder in the national capital with effect from midnight of Friday/Saturday, official sources said. Prices vary from state to state depending on the incidence on local taxes.
'They fired their chief selector, selection committee, changed the captain because they couldn't digest how Pakistan went ahead of them.'
The Supreme Court-appointed Central Empowered Committee has recommended cancellation of mining lease to Karnataka's powerful Reddy brothers' firms in Andhra Pradesh, saying their Obulapuram Mining Company had openly flouted various environmental laws in mining operations.
For the first time in his political career, he failed to carry his party to even a working majority -- and again, for the first time in his career, he finds himself in a situation where he cannot rule by dictatorial fiat, points out Prem Panicker.
The Supreme Court-appointed Empowered Committee on the Mullaperiyar Dam, over which Tamil Nadu and Kerala are at loggerheads, has concluded that the 119-year-old structure is "safe" and asked the Kerala Government to reconsider its proposal to build a new dam.
Hours after Desai said that the draft is ready to be submitted to the state government, Chief Minister Pushkar Singh Dhami said the Uniform Civil Code will soon be implemented in Uttarakhand.
The Empowered Committee on the controversial Mullaperiyar Dam issue on Wednesday submitted its report to the Supreme Court in a sealed cover which would be examined by a Constitution Bench.
Supreme Court-appointed Empowered Committee on the controversial Mullaperiyar Dam, over which Tamil Nadu and Kerala are at loggerheads, today finalised its much-awaited report on various aspects of the structure and will submit it to the court on Wednesday.
The Oil Ministry has been trying since July to get an Empowered Committee of Secretaries to vet the separate price proposals of RIL and Essar but the panel has so far not decided to take up the issue.
Making a fresh demand for a result-oriented dialogue, the moderate faction of Hurriyat Conference and Jammu and Kashmir Liberation Front on Monday demanded setting up of Kashmir committees in India and Pakistan to find an everlasting solution to the Kashmir issue.
Modi, who also handles the finance portfolio in the Bihar government, replaces Asim Dasgupta, who had served in the post for over a decade since the formation of the body.
The Centre will set up a high-level committee of secretaries for processing the Sixth Pay Commission's report for its employees. The Empowered Committee of Secretaries will be headed by Cabinet Secretary K M Chandrasekhar, Science and Technology Minister Kapil Sibal said after the Cabinet meeting.
Sticking to its stand, the Bharatiya Janata Party government in Karnataka on Saturday asserted that it would not entrust the probe into the illegal mining issue to the Central Bureau of Investigation, but said a report would be submitted to the Supreme Court on the issues raised by a committee appointed by the apex court.
The announcement of a deferral is expected to be part of Finance Minister Arun Jaitley's Budget speech on February 29.
The empowered committee delegation, including state finance ministers participated in two round table conferences sponsored by the Indo-Canada Chamber of Commerce and the Canada-India Business Council. Tax experts from Couzon Taylor, Brian Wurts, HST Consulting etc, made presentations at the Canadian Imperial Bank of Commerce event.
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