An increase in the farmer income support scheme PM Kisan Nidhi, the introduction of a 'robot tax' to fund reskilling of people who lose their jobs to artificial intelligence (AI), and a reduced income-tax (I-T) to bring relief to the middle classes - these are some of the items in the Budget wish list submitted by Sangh Parivar affiliates to Finance Minister (FM) Nirmala Sitharaman. Representatives of the affiliates of the Rashtriya Swayamsevak Sangh (RSS), such as the farmer organisation Bharatiya Kisan Sangh (BKS); trade union Bharatiya Mazdoor Sangh (BMS); Laghu Udyog Bharati, which works for micro and small industries; and Swadeshi Jagran Manch (SJM), which works on economic and policy issues, met the FM and other officials over the last couple of weeks as part of the pre-Budget consultations.
If you work for 30 years, a two per cent difference in pension returns can reduce your final retirement nest egg by 40 per cent. The Rs 9-trillion National Pension System (NPS) seems to be delivering incrementally higher returns than the twice-as-large Employees' Provident Fund Organisation (EPFO), shows a Business Standard analysis of data over the last seven years for the two retirement fund bodies. An investor who put in Rs 100 in retirement savings seven years ago would have seen her NPS nest egg grow to Rs 182 by 2023, according to the analysis based on the Pension Fund Regulatory and Development Authority's recently released Handbook of National Pension System Statistics 2023.
Such public domain discussions affect their morale and dedication -- and that, if anything, will definitely affect combat-effectiveness, asserts Vice Admiral Biswajit Dasgupta (retd).
The number of fresh formal jobs generated in a month increased to a seven-month high in April, signalling a recovery in the formal labour market in the country, according to the latest monthly payroll data released by the Employees' Provident Fund Organisation (EPFO) on Thursday. In April, the number of new monthly subscribers under the Employees' Provident Fund (EPF) sequentially increased by 18.77 per cent to 887,438 from 747,146 in March.
'There is uncertainty regarding job opportunities for our children after they serve for just four years under the Agnipath scheme.'
EPS has had its way on most things, alliance-wise. A week earlier, he reiterated that he would not re-admit OPS and Sasikala Natarajan back in the party. It was a message not just to detractors in the AIADMK. It was even more so for the BJP leadership in Delhi. Even more important for the AIADMK was their demand for accepting EPS as the chief ministerial candidate of any alliance that the party would form, observes N Sathiya Moorthy.
'PPF carries minimal risk.' 'Its fixed-income nature allows investors to diversify their portfolios.'
PFRDA will invite bids to appoint pension fund managers.
In the months of May, June and July, state and district level conventions of the SKM shall be held in every state/UT to galvanise and organise farmers and farm workers, it said.
'Barring a temporary blip where stocks fell on verdict day, we are back to all-time highs.'
A retirement fund can be helpful for all age groups, but ideally one should start investing early to beat market swings and gain from compounding.
'Any earnings, regardless of location, will be subject to Indian income tax.'
'The adjustments (of tax slabs and standard deduction) will reduce the tax burden for salaried individuals with an income of around Rs 20 lakh by approximately Rs 18,000.' 'For non-salaried individuals with the same income level, the savings will be around Rs 10,000.'
From how to open an NPS Vatsalya account to knowing how this scheme compares to investing in mutual fund or in provident fund, Ramalingam Kalirajan offers a 360-degree view and the pros and cons of investing in a scheme that has the potential to secure your child's financial well-being.
The Department for Promotion of Industry and Internal Trade (DPIIT) will soon start public consultation for a national retail trade policy, which is likely to include an insurance scheme aimed at providing financial protection against losses caused by theft, accidents or natural calamities. The policy will also spell out ways to give traders access to low-cost finance, promote digital inclusion, and create necessary infrastructure to support them, a senior government official told Business Standard. This is expected to offer relief especially to traditional traders, who are facing stiff competition from large e-commerce players.
In the event of the BJP's poor performance in the assembly polls this year and in early 2025, Modi's hold will get further weakened because he will no longer remain the invincible electoral persona tightly controlling the machine at his disposal, asserts Nilanjan Mukhopadhyay.
Prime Minister Narendra Modi on Friday said the Agnipath scheme is an example of necessary reforms undertaken by the Army and accused the opposition of playing politics over the recruitment process aimed at keeping the average age in armed forces young.
Defence Minister Manohar Parrikar said most of the rest will get their new pension by Holi.
'This year overall hiring has seen a slight improvement as compared to the dip seen during the last financial year.'
The Centre is likely to announce the Agnipath recruitment scheme for the defence forces under which troops would be recruited only for four-year tenures.
In a stunning comeback, Hemant Soren's Jharkhand Mukti Morcha-led alliance on Saturday stormed to power in Jharkhand for a second consecutive term, winning 56 seats in the 81-member assembly, despite an all-out blitz by the Bharatiya Janata Party-led National Democratic Alliance which managed only 24 seats.
The BJP may win more seats in the February 5 assembly election, but not enough to trump AAP, notes Ramesh Menon.
The remark came at an event in Lucknow where he accused Narendra Modi of being a monarch and not a prime minister, calling him a front for 'two-three financiers'.
Tax-saving investments should not be made with the sole purpose of saving tax, but should also help an individual grow his wealth, suggests Archit Gupta, founder and CEO, ClearTax.
Several leading scientists, academicians, and agriculturalists have called for raising government support for research and development to make Indian agriculture future-ready.
While reasonable safeguards should be built in, there can't be restrictions on the individual's right to leave her/his money to whoever s/he wants, notes Harsh Roongta.
The Rajya Sabha chairman asked him to authenticate his assertions and refused to accept newspaper clippings that the Congress leader showed to buttress his points.
In a post on X, the prime minister also urged the people to make contributions to the Armed Forces Flag Day fund.
Ahead of the Union Budget 2023, insurers are hoping that the Centre will act on their recommendations, which includes increasing the limit for tax deduction under 80D of the Income Tax Act. Also among them are issuance of long-term bonds, tax incentives for home insurance premiums, and a separate section to claim deduction for term-insurance premium, among others. These suggestions would help improve the penetration of insurance in the country.
Here are the main factors that impact the November 23 elections in the state.
Every young diploma and degree holder in the country will have the right to apprenticeships in the private and government sectors, he said.
Before you file your income tax return this year, have a look at the amendments that might help you take the most possible tax benefit.
The self-employed should invest in the National Pension System, a government-backed, low-cost retirement avenue where they can choose the mix of debt and equity that is right for them.
Now that the National Pension Scheme offers more choices than the Employees Provident Fund, is more transparent and also allows to choose the level of allocation to equities as investors like, should one switch to the NPS?
Invest in MFs for liquidity and choice of funds. Invest in NPS for the tax benefits, tax-free rebalancing, and for earmarked savings for retirement.
In his Independence Day address from the ramparts of Red Fort, Modi also reiterated his government's unwavering resolve to ensure national security amid the current global security scenario.
Trains were set afire and blocked, and public vehicles attacked as protests over 'Agnipath' swept across several places in Bihar, Uttar Pradesh, Rajasthan, Haryana, Madhya Pradesh, Delhi and Jammu on Thursday amid partisan political voices in favour and against the new recruitment scheme for the defence forces that has set off a firestorm.
'The 4th meeting of the leaders of INDIA parties will be held on Tuesday December 19th, 2023 in New Delhi at 3 pm,' Congress general secretary Jairam Ramesh said in a post on X on Sunday.
It will try to exploit the infighting in the state's ruling Congress while it manages factionalism within its own ranks
'Is the Agniveer scheme or their post-retirement re-employment in paramilitary forces or in the state governments the BJP's answer to the crying need on the job front?' 'Or, even Finance Minister Sitharaman's one-year internship scheme in the public and private sector, is it a permanent solution, either?', asks N Sathiya Moorthy.
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