MFs continue to find it difficult to attract and retain long-term money from investors
'Where in the world you get 12.5 per cent return of interest?'
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 first task before him is to get used to the idea of working with the Monetary Policy Committee
Finance Minister Nirmala Sitharaman on Wednesday raised the personal income tax rebate limit, doled out sops on small savings and announced one of the biggest hikes in capital spending in the past decade as she did a tight rope walk in the Budget between staying fiscally prudent and meeting public expectations in the year before general elections.
The most important institutions have been and are being undermined with almost no resistance, warns Aakar Patel.
If you have seen Zwigato, Param Kumar's story will sound familiar. Laid off from his job as a repairman at a Gurugram-based water purifier provider, he now delivers groceries and food for a mobile-based delivery app, in Delhi. Kumar, who started making deliveries last August, told Business Standard that he is working longer hours than his older salaried job as an RO repairman, and has no paid leaves or health insurance. Kumar is part of India's estimated 7.7 million-strong force of gig workers.
The scheme is aimed at slashing the salary and pension bills of the three services, which have been increasing rapidly.
'We are probably working with flawed data on household finance.'
The tax rate rises to 10 per cent, 15, per cent, 20 per cent and 25 per cent for every Rs 2.5 lakh addition. A 30 per cent tax is charged for income over Rs 15 lakh.
Salaried employees get several benefits under Sections 80C, 80D, 80G and others.
Classically, the Japanese - who are not guided by short-termism - added capacity during slumps to be ready to reap their good fortune when the business cycle turned upwards again and shortages emerged, says Subir Roy.
Pawan Kumar, organising secretary of the Bharatiya Mazdoor Sangh (BMS) affiliated to the Rashtriya Swayamsevak Sangh (RSS), tells Aditi Phadnis it will join forces with other trade unions if necessary to oppose the Employees' Provident Fund Organisation (EPFO) provisions in the Union Budget.
Traditional plans are the biggest area of concern for consumers.
Protests against 'Agnipath' left Bihar in flames on Friday when rampaging mobs set fire to dozens of railway coaches, engines and stations and torched Bharatiya Janata Party offices, vehicles and other property, prompting the police to suspend internet services in nearly a third of the state.
Agnipath may be an exercise to address the genuine needs of the armed forces. But overall, it betrays the tendency to use the military and paramilitary for employment generation and shaping a national character, instead of treating them as the professional services they are, notes Shyam G Menon.
China was also slammed by the panel for "lost opportunities to apply basic public health measures at the earliest opportunity."
Various indicators make it amply clear that there are grave challenges facing the new government of Chief Minister Nitish Kumar, reports Indivjal Dhasmana.
As protests against the Agnipath military recruitment scheme intensified, the Army, Navy and the Air Force on Friday announced that they will start the enrolment process under the new model by next week while Defence Minister Rajnath Singh appealed to the youths wanting to join the armed forces to start preparing for the induction.
The economists who signed the letter included Jean Drze , Abhijit Banerjee, Ajit Ranade, Jayati Ghosh, Kirit Parikh, Mihir Shah, Rohini Pande, and Vijay Joshi
The payroll estimates, released by the EPFO based on its enrolment, threw up some contrasting trend between September 2017 and February 2018.
"The PMJDY has been the foundation stone for the Modi government's people-centric economic initiatives. "Whether it is direct benefit transfers, Covid-19 financial assistance, PM-KISAN, increased wages under MGNREGA, life and health insurance cover, the first step was to provide every adult with a bank account, which PMJDY has nearly completed," Nirmala Sitharaman said on the sixth anniversary of the scheme.
To curb mis-selling of policies and rationalise commissions, radical changes have been proposed to help investors.
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It would be fair to say that markets are coming to the end of a down-cycle and are at the cusp of the next up-cycle.
'Welfare schemes are not a necessary evil, they are a necessary good.'
'While all would agree on the need to be ready to launch cross-border strikes on terror camps, there is sharp disagreement on how best to do it.' 'Through IAF fighters, or surface-to-surface missiles?' 'Or should army Special Forces be created to do the job?' 'If air strikes are the agreed priority, additional funding must be made available for the purchase of fighters and missiles.' 'If it is to be Special Forces, the army must be facilitated in raising a Special Forces Command,' notes Ajai Shukla.
Employees across segments, including those involved in specialised jobs such as technology, compliance and risk management, have started leaving the bank fold in hordes, observes Tamal Bandyopadhyay.
'From March 2020 to November 2021, the combined wealth of the billionaires of this country has doubled.'
'The shadow banks are currently facing a liquidity and solvency crisis.' 'The danger is that it could potentially engulf the entire financial system because shadow banks have borrowed huge amount of money from banks, mutual funds, pension funds, and insurance companies.'
In the Union Budget presented in Parliament by Finance Minister Nirmala Sitharaman, a total of Rs 1,52,369 crore has been set aside for capital expenditure that includes purchasing new weapons, aircraft, warships and other military hardware.
'Many enter the civil services with the desire to do good work but get beaten by the system, step back or become part of it.' 'Ten fantastic officers out of 100 can completely change the game.'
In an indication of easing financial stress among borrowers, the number of unsuccessful auto-debit requests through the National Automated Clearing House (NACH) platform declined in July, reversing a three-month trend that started with the second wave of the Covid-19 pandemic. According to the NACH data, of the 86.4-million transactions initiated in July, 33.23 per cent, or 28.7 million transactions, failed, while 57.7 million were successful. Compared to June, this is a significant improvement in bounce rates.
Arun Jaitley had a tough fiscal hill to climb.
The world's largest postal service is stepping in to help deliver lifesaving medicines during a countrywide lockdown aimed at tackling the coronavirus pandemic.
China on Friday hiked its defence budget to $209 billion, maintaining a single-digit growth for the sixth consecutive year with a 6.8 per cent increase in 2021.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Aadhaar now has legal backing but it still faces challenges of privacy and data sharing
Equity-linked savings scheme, PPF and Sukanya Samriddhi Yojana are recommended instruments.
Taxpayers can claim a deduction on tuition fees for a maximum of two children.
Auto-debit payment bounces have gone up for the second consecutive month in May, emphasising the stress building up due to a halt in economic activities as authorities lock down various parts of the country to stop the spread of the virus in the second wave. According to the National Automated Clearing House (NACH) data, in May, of the 85.7 million transactions initiated, 35.91 per cent, or 30.8 million transactions, failed.
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