Their favourite alternatives: Malaysia, Vietnam and the Philippines. Note, India is missing from that list. And this is despite an attractive financial incentive scheme for OSAT players. The reason, said a senior executive of a US chip company who had a meeting in Taiwan just a few weeks ago, is that "they want more predictability in government policy because they plan to put in big money."
A decision on the interest rate for close to 60 million active subscribers of the Employee Provident Fund Organisation (EPFO) is likely to be taken in the next Central Board of Trustee (CBT) meeting, starting on March 25. A letter from the social security organisation regarding the convening of the 233rd CBT meeting was sent to all the board members last week, soliciting their presence in the meeting. Although the venue and the agenda haven't been drawn out yet, sources familiar with the matter say that the interest rate is unlikely to go below 8 per cent level amid a rising interest rate scenario across the globe.
The law firms will provide legal opinion on matters related to interpretation of various statutes, such as the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, among other things.
The 8.1 per cent interest rate was recommended by the Central Board of Trustees after its meeting in Guwahati under the chairmanship of Union Labour and Employment Minister Bhupendra Yadav, a labour ministry press statement said.
Strengthening the portfolios of the home minister and the finance minister is a message that should not be missed, points out A K Bhattacharya.
Sule, citing Railway Ministry documents, said the largest number of Shramik Special trains -- 1033 -- were operated from Gujarat, followed by Maharashtra (817) and Punjab (429).
If the government is able to deliver the promised projects, the large number of youth will be taken off the streets and that is not acceptable to the Pakistan army nor the terrorists hiding in Pakistan, notes Brigadier Narender Kumar (retd).
'Why has this turned out to be one of the greatest humanitarian crisis that has caught the Centre and the states in a bind with no answers to this unexpected tsunami?' asks Brigadier Narender Kumar (retd).
The flight, carrying 216 passengers and 16 crew, landed safely, the Tata Group-owned private carrier said in a statement Tuesday evening.
Vishwajit Rane, who had unsuccessfully lobbied for the CM's post, has been given crucial Health and Town and Country Planning Portfolios along with Urban Development, Women and Child, and Forest departments.
The government further defended its move to introduce fixed-term employment, insisting that the present system of hiring workers through contractors is exploitative.
Retirement fund body EPFO on Thursday lowered the interest rate on Provident Fund deposits to 8.5 per cent for the current financial year, Labour Minister Santosh Gangwar said on Thursday.
Claims of a spike in poverty and inequality in India during the Covid-19 pandemic are patently false as such claims are based on uncomparable different surveys, according to a paper co-authored by eminent economist Arvind Panagariya. The paper also noted that inequality fell in the country during Covid years, both in rural and urban areas as well as nationally. Panagariya, Columbia University Professor and former vice chairman of NITI Aayog and Vishal More of Intelink Advisors, New Delhi have co-authored a detailed paper 'Poverty and Inequality in India: Before and After Covid-19'.
A Parliamentary panel has asked the Ministry of Labour and Employment to use and reconcile the data and studies conducted by credible agencies with that of retirement fund body EPFO for depicting real picture of job loss in the country especially in the situation like COVID-19 pandemic. The pandemic had an impact on employment in the country as the economic activities slowed down due to lockdown restrictions imposed by central as well as states to contain the spread of deadly virus from March in 2020.
As per the allegation of the woman, she was gang-raped by two officials, including the former chief secretary, in Andaman and Nicobar Islands at his official residence.
A senior official in the central labour commissioner's office said the efforts of the government were to resolve the cases amicably and not to press for legal action against employers. "Everyone is going through tough times. We could initiate legal action if we want but that's not the idea. We want to address the issues amicably," the official said.
India and Australia would now implement the free trade agreement on a mutually agreed date as the Australian Parliament on Tuesday approved the pact between the two countries. "BREAKING: Our Free Trade Agreement with India has passed through parliament," Australian Prime Minister Anthony Albanese said in a tweet. The India-Australia Economic Cooperation and Trade Agreement (AI-ECTA) needed ratification by the Australian parliament before its implementation.
The Union home ministry and the labour ministry have asked state governments to coordinate with the chief labour commissioner's (CLC's) office to give a comprehensive data of all the migrant workers by April 11.
Due to the huge pile-up of visa applications, the US consular officers in the neighbouring country are now adjudicating Indian visa applications where interview requirements have been waived.
India and the US on Friday expressed concern over high inflation which is being driven by external factors and has become a challenge for both the nations. Speaking at the US-India Businesses and Investment Opportunities, Finance Minister Nirmala Sitharaman said in India the inflation challenges are prompted more by external factors. "So while the number today is in a manageable range, the challenges are largely due to the import of crude.
This decision would pave the way for crediting Rs 54,000 crore as 8.65 per cent interest for 2018-19, into the accounts of more than 6 crore EPFO subscribers.
China on Monday waded into the furore over the controversial remarks by two now-suspended Bharatiya Janata Party functionaries against Prophet Mohammed, expressing the hope that the incident can be properly managed.
A Pakistani anti-terrorism court has sent a Chinese national to jail on 14-day judicial remand on blasphemy charges in the restive Khyber Pakhtunkhwa province after he was arrested on Monday, according to media reports on Tuesday.
It is for the first time in the history of Independent India that not a single Muslim is part of the Union Cabinet.
Despite its admirable competence and proven track record, the RBI doesn't have the capacity to supervise an economy that's growing so fast and becoming larger by the year, points out T C A Srinivasa Raghavan.
Right now there are five Hindus occupying the top job in the world. Rishi Sunak will be the sixth.
In a setback to the Bharatiya Janata Party days ahead of the April 10 elections in Gautam Budh Nagar, former Union minister and senior leader Ashok Pradhan on Tuesday joined the Samajwadi Party, claiming that there was "trade" of Lok Sabha tickets in the saffron party.
Rahul's remarks come against the backdrop when India reported more than 1.52 lakh new COVID-19 cases on Sunday. This is the fifth consecutive day when more than one lakh cases have been reported in the country.
The Kerala Story is among a long list of films that invited bans and censorship.
'I decided to send a bat and a ball which was smaller in size so that it shouldn't get stuck in the pipe. And with that, they had a little good time.'
The EPFO had decided that 8.15 per cent interest from its debt income would be credited immediately and the remaining 0.35 per cent capital gains from the equity sale would be given later, subject to its redemption.
The Centre is looking to improve disclosures made by public sector undertakings (PSUs), and has asked such companies to share monthly progress made on capital expenditure targets and corporate social responsibility (CSR) initiatives undertaken by them. New details such as gender-wise reporting of contractual workers, unused land, and profit share in joint venture companies have also been added in the list of disclosures. The Department of Public Enterprises (DPE), which publishes the Public Enterprises Survey and collects information for Memorandums of Understanding (MoUs) signed with PSUs, is looking to integrate data collected from government-owned companies.
Fifteen Cabinet ministers and 28 Ministers of State were sworn-in by President Ram Nath Kovind at a ceremony at Rashtrapati Bhavan on Wednesday evening.
China said on Thursday that "progress" has been made in facilitating the return of thousands of Indian students stranded back home due to Beijing's COVID visa bans and efforts were on for "early return" of the first batch.
'For the common man, the economic conditions are not going to get better.'
Given the rapid changes in the Indian labour market, there is an urgent need to have current, accurate and publicly available data through regular, dynamic and comprehensive surveys. Indeed, this was the intention behind constituting the NITI Aayog Task Force on Improving Employment Data. The attempts by the government to "improve" labour data has actually made it worse, say Rosa Abraham, Janaki Shibu & Rajendran Narayanan.
The ceiling of gratuity amount under the Payment of Gratuity Act, 1972, has been raised from time to time keeping in view overall economic condition and employers' capacity to pay and the salary of employees, which have been increased in private sector and in PSUs.
The portal, which has been tentatively named by the labour and employment ministry as the National Portal for COVID-19 Affected Unorganised Migrant Workers, will gather the details of all the unorganised sector workers who are stranded in relief camps, residential or industrial clusters.
The reshuffle had politics at its heart, so the biggest complement of new ministers, both Cabinet rank and below, came from UP, which will see assembly elections in a few months.
Gandhi noted that lakhs of migrants continue to walk hundreds of kilometres to reach back their homes without food, water, medicines and cash. She also accused the central government and the Railways of completely ignoring the demands made by the Congress for ensuring the safe and free travel of migrant workers and labourers to their homes.
