Following recommendations from the Deepak Parekh-headed Expert Group and taking into account comments from the public, PFRDA has categorised NPS investments into three asset classes -- E (equity), C (corporate paper) and G (government securities).
Another populist decision of the government was the announcement of an unemployment allowance for the youth: Rs 1,000 per month for two years for graduates and those who have completed class 12 but remain unemployed.
The Trinamool Congress (TMC) has released its manifesto for the West Bengal elections, focusing on welfare politics and women's empowerment with pledges to expand existing schemes, improve healthcare, and develop infrastructure.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
Rahul Gandhi intensified the Congress campaign in Kerala, alleging collusion between the LDF and BJP, citing corruption cases and the drug issue in the state. He also criticised the LDF government's handling of the Sabarimala gold loss and unemployment.
The Unified Pension Scheme (UPS) adoption rate has risen to over 4.35 per cent, with more than 100,000 people out of 2.3 million eligible individuals opting for it, Pension Fund Regulatory and Development Authority (PFRDA) chairman S Ramann said in an exclusive interview with Business Standard on Monday. He also said that six states had approached the PFRDA for help in adoption of the scheme.
Trinamool Congress leader Abhishek Banerjee has warned of a significant increase in cooking gas and fuel prices by the BJP-led central government following the West Bengal assembly elections. He accused the BJP of neglecting the fuel crisis and challenged them to pledge no price hikes for the next five years.
Trinamool Congress leader Abhishek Banerjee alleges the BJP-led government may increase fuel prices after the West Bengal assembly elections, accusing them of neglecting the common man and withholding funds from the state.
Haryana Chief Minister Nayab Singh Saini addressed the 'Saini Samaj' in Punjab, appealing to the OBC community ahead of the upcoming state elections. He criticized rival parties for neglecting OBCs and highlighted the BJP's commitment to their welfare.
Governments should move away from universal subsidies towards tightly targeted transfers, backed by stricter eligibility norms, sunset clauses and periodic audits to curb leakages and improve spending efficiency, a joint study by Asian Development Bank and PwC has recommended.
The Indian government has refused to accept recommendations for a 10% pension increase for retired regular Army captains under the One Rank One Pension (OROP) scheme. The Supreme Court heard an appeal by the government challenging an Armed Forces Tribunal order that mandated a decision on pension for retired captains. The government's decision not to accept the recommendations has led to a delay in resolving pension anomalies for these officers. The case will be heard again on December 12, 2023.
A video of Dehury crawling on a village road has gone viral on social media.
The change in the government's engagement with the economy's need for reforms is more nuanced than how analysts have so far perceived it, points out A K Bhattacharya.
The Supreme Court on Monday directed uniform pension benefits for all retired high court judges, irrespective of their mode of appointment or tenure, saying "one rank one pension has to be the norm in respect of a constitutional office".
In the rush to complete tax-saving investments at the end of the financial year, many taxpayers choose instruments that do not match their long-term financial goals.
rediffGURU T S Khurana answers readers' personal income tax queries
'These changes are expected to eliminate many data-entry problems that make the return filing process cumbersome in the current system.'
Congress MP Priyanka Gandhi has accused the ruling LDF in Kerala and Chief Minister Pinarayi Vijayan of being Prime Minister Narendra Modi's "B-team" and of secretly joining hands with the BJP, alleging a compromised leadership and lack of accountability.
Investors should quiz them to understand the product, which options to invest in, and how to get the final payout
Around 24 paise will come from borrowings and other liabilities, 10 paise from non-tax revenue like disinvestment, and 2 paise from non-debt capital receipts, the Budget documents showed.
Erroneous payments were made to 77,980 women and 12,431 men, many of whom did not qualify for the scheme's benefits.
The Indian Cricketers' Association will introduce a one-time benefit of Rs 1 lakh for the spouses of deceased members after the BCCI approved its disbursal.
Political observers said the announcement assumes significance as the state prepares for the assembly elections, with political parties stepping up outreach to various community groups.
India's market regulator is moving ahead to include real estate investment trusts (Reits) in benchmark indices in a phased manner, Sebi chief Tuhin Kanta Pandey said, while asserting that the regulator was working to strengthen the link between infrastructure building and the markets.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Among its 27 recommendations for the Union Budget is this: It has suggested that equity investments held for more than one year and up to three years should be taxed at 12.5 per cent on gains exceeding 2 lakh in a financial year.
The potential market for pensions in India is enormous. Some 284m working age people in India lack formal pensions.
Sebi is working with other regulators to expand the CAS framework.
Remember, pension from EPS will be taxable at slab rate, reducing the post-tax income for people who remain in the higher tax brackets after retirement.
The order also provides that the field office will incur expenditure on the facilitation function under the head of publicity.
India's state-level fiscal rules have improved headline deficits, but the gains are fragile and uneven with major states still grappling with high debt levels, a World Bank report submitted to the 16th Finance Commission (FC) said. According to the report, despite nearly two decades of adoption of fiscal responsibility laws (FRLs), debt levels have not converged.
The strong domestic flow offset selling by foreign portfolio investors who pulled out $23.3 billion (Rs 2.03 trillion) from domestic equity markets in CY25.
The Employees' Provident Fund Organisation (EPFO) on Monday set May 3 as the deadline for subscribers to opt for a higher pension. The Supreme Court on November 4 allowed another change for employees who were existing EPS members as on September 1, 2014, to contribute up to 8.33 per cent of their actual salaries - as against 8.33 per cent of pensionable salary capped at Rs 15,000 a month - towards pension. The apex court gave a four-month window to enable opting for higher pensions.
The government on Sunday gave a strong push to upgradation and expansion of healthcare infrastructure, medical education and pharma sector with the Union Budget 2026-27 announcing a slew of steps, including those aimed at making India a global hub for allied healthcare professionals and biopharma manufacturing.
With organisations like the Bharatiya Mazdoor Sangh, which is a front of the Rashtriya Swayamsevak Sangh, telling Finance Minister Nirmala Sitharaman they want OPS back, the government is in a bind, report Shiva Rajora and Aditi Phadnis.
He will hold the office till February 9, 2027.
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.
