A day after being sworn-in, the new ministers took charge of their portfolios. Here's a look at the various new ministers on their first day at work.
'Revision of the base year for both CPI and GDP are long overdue.' 'The basic data that went into the 2011-2012 series were mainly from surveys done in 2011 or earlier.' 'We have since seen the emergence of new sectors like platform-based work and online marketing.' 'The employment surveys and the consumption surveys need to reflect these adequately.'
Improved monsoon, solid fiscal performance, and capex push by the public and private sectors augurs well for India's macroeconomic stability and growth, the finance ministry's monthly economic review for June 2023 said. But the report said that while India's domestic fundamentals remain strong, negative cross-border spillovers and adverse global developments could act as a deterrent in achieving the high growth path this financial year. "An improved matching of aggregate supply and aggregate demand in the Indian economy underpins the progress made in the control of domestic inflation and the consequent strengthening of macroeconomic stability," the review said.
The Brookings Institution, a think tank associated closely with the US administration, recently expressed keen interest in it.
A day after OBC leader Swami Prasad Maurya resigned from the Uttar Pradesh cabinet citing apathy towards the backward classes, Dara Singh Chauhan too resigned as minister in the Yogi Adityanath government.
More than 70 per cent of Indian youth aged between 15 and 29 can't!
The department for promotion of industry and internal trade (DPIIT) has suggested to the home ministry to allow limited activity in certain sectors such as heavy electricals and telecom equipment with reasonable safeguards. In a letter to Home Secretary Ajay Kumar Bhalla, the department said that these activities are essential to improve the economic situation and provide liquidity in the hands of the people.
There were quite a few industrial lockouts that cost India a dear in 2014.
Reaching out to the working class, especially in the unorganised sector, the government rolled out several measures in 2011, raising minimum daily wages, enlarging health insurance coverage and also notifying Majithia Wage Board recommendations for newspaper and news agency employees.
The organisation can invest in bonds of private companies with dual 'AAA' rating, say new norms.
In an order, the Home Ministry nullified a Labour Ministry circular which allows one per cent foreigners among the total work force in any project with a minimum of five and maximum of 20 people.
Twenty garment factories have closed down in the last four years, leaving only eight operational
Economic Advisory Council to the Prime Minister (EAC-PM) chairman Bibek Debroy on Tuesday said the government was losing revenue due to the GST, which should be revenue neutral with a single rate. Speaking at an event organised by the Calcutta Chamber of Commerce in Kolkata, he however said that GST has led to a lot of simplification. "The ideal GST is one that has a single rate, and it was meant to be revenue neutral.
Finance Minister Nirmala Sitharaman on Thursday said the government will consider the Production Linked Incentive (PLI) scheme for Chemicals and Petrochemicals sector to make India a manufacturing hub for such products. In view of stringent pollution control regulations and rising labour cost, she said, global manufacturers in the chemical industry are looking at diversifying their products and production capability and India stands out as an alternative destination for manufacturing. Besides, India offers a large domestic market, she said while addressing the third edition of the summit on 'Global Chemicals and Petrochemicals Manufacturing Hubs in India'.
In an effort to instill the spirit of a service provider among the rank and file of the Employees Provident Fund Organisation, a new business model for its human resources is being examined under a re-engineering exercise.
The Labour Ministry has relaxed investment norms for retirement fund manager EPFO, but refrained from allowing the body to invest a part of its huge corpus of around Rs 5 lakh crore in equity markets.
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The remaining 0.35 per cent will be credited in December this year, if the EPFO is able to redeem its equity investments.
The active cases comprise 2.04 per cent of the total infections.
The state government was informed about the Rs 500 crore bill by the Union home ministry through a letter dated February 6.
"It is felt there should be an arm's-length distance between the fund manager and the custodian of securities. There should be separation between fund manager, banker and the custodian," a senior labour ministry official said.
Close on the heels of announcing sops for special economic zones, the government on Friday assured exporters that it will take more steps to enable them to compete globally.
Under the New Code on Wages Bill 2019, employers will be required to give the minimum wages, notified by either the state or the Centre, to the unorganised sector, too.
The task force has favoured that Rashtriya Swasthya Bima Yojana should cover domestic workers, a Labour Ministry official said on Monday.
Issuing a slew of directions, a bench of Justices S Ravindra Bhat (since retired) and Aravind Kumar asked the central and state governments to pay Rs 30 lakh as compensation to the next of kin of those who die while cleaning sewers.
Since the imposition of lockdown on March 25 by the government to contain the COVID-19 spread, businesses have been facing liquidity or cash crunch, leading to difficulties in paying their mandatory provident fund dues.
Those who get less than Rs 1,000 a month include 22 lakh (2.2 million) member pensioners and 5 lakh widows as on March 31, 2013.
Some unions have opposed EPFO investing in share markets.
This was decided at a four-hour meeting of the Central Board of Trustees of EPF chaired by Labour Minister K Chandrashekhar Rao.
The Minimum Wages Act will be amended to enact a new centrally set minimum, in the wake of the National Advisory Council's suggestion on asymmetries in this regard between states on payments for work done on schemes under the National Rural Employment Guarantee Act.
'We need to find out whether any structural element has got fatigue.' 'We want to increase the lifespan of the bridge.'
The UAE government has revoked the ban that people who left their jobs or cancelled their resident visas faced.
In a placatory move, the labour ministry also said it was contemplating permitting withdrawal of all accumulations by Employees' Provident Fund Organisation's subscribers on grounds like purchase of house, serious illness, marriage and professional education of children.
Accusing the labour ministry of "playing hide and seek" with their demands, the bank unions on Tuesday threatened to go on an indefinite strike.\n\n\n\n
At present, someone short of the retirement age can completely withdraw the PF money.
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