In a big relief to over a crore retired employees of government and PSUs, a pensioner can now digitally provide proof of his existence to authorities for continuity of pension every year instead of requiring to present himself physically or through a Life Certificate issued by specified authorities.
Government to pay disproportionately high interest for borrowings from savings, overturning a nearly two-decade-long process of reforms in the management of public debt.
'Despite rising inflows, many NRIs lack awareness about NRO and NRE accounts and mistakenly use family accounts or invest in a relative's name.' 'Many are unaware of tax implications.'
As political winds stir in these states, it's prudent to assess their economic landscapes.
The Aam Aadmi Party (AAP), which contested the assembly polls in Himachal Pradesh for the first time, drew a blank securing just 1.10 per cent of the total votes cast.
For professionals, new pension scheme gives an equity booster but does not guarantee returns, comes at a cost.
Nayab Singh Saini on Wednesday staked claim to form the next government in Haryana, hours after he was unanimously elected as the leader of the Bharatiya Janata Party legislature party in the state.
Most insurers aren't comfortable with subscribing to the National Pension System as they see it as competition.
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.
The Congress has so far announced 82 candidates for the seven-phase Lok Sabha polls beginning April 19.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Data released by the Life Insurance Council reveals that the total pension premium for the life insurance industry saw a growth of 159 per cent at Rs 22,268 crore (Rs 222.68 billion) for FY07 compared with Rs 8,568 crore (Rs 85.68 billion) in FY06.
'The aged with retina and finger print issues are not getting access to pension and ration.' 'If all becomes digital -- what'll happen to the poor?'
The ruling Congress on Thursday swept the Shimla Municipal Corporation (SMC) polls with a two-third majority by winning 24 wards out of the total 34, wresting the prestigious civic body from the BJP.
Employees joining companies after August and availing of the government benefits under the Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) will also have to link their PF accounts with Aadhaar numbers.
Postings to places at an altitude above 1,000 metres but less than 1,500 metres, between 1,500 and 3,000 metres, and above 3,000 metres entail different rates of allowances -- the higher the location, the bigger the allowance, reveals Tamal Bandyopadhyay.
NPS still has critics despite being in business for a decade and mopping Rs 24,000 crore as of 2013-14.
'Basic Covid protocols were not followed, which is why so many teachers lost their lives.'
The high level coordination committee on financial markets, which consists of financial sector regulators, is likely to opt for a phased reduction in the commission paid to insurance agents.
'We waited patiently for 17 months, which is enough time for any government to implement a policy. If they can't do it in 17 months, they are either incompetent or they simply don't want to do it.'
The software is being developed in association with the Central Record-keeping Agency. It is expected to debut by the end of this year. PFRDA is also looking to have an ombudsman for redressal of investor grievances. To increase liquidity of the scheme, there could also be Tier-II accounts by the end of this year, which would allow investors to withdraw money at any given point of time.
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.
Former chief minister Jai Ram Thakur, who was on Sunday elected the leader of the Bharatiya Janata Party legislative party in Himachal Pradesh, hit out at the Congress, alleging its government was failing to deliver on poll promises and leaders were moving in different directions.
Functioning in several departments related to revenue collection has also been affected. Revenue collection has reduced by Rs 17,000 crore in March.
GDP growth of 7.7 per cent in the first half of this fiscal has "left sceptics gasping and woefully behind the curve", an RBI article said on Wednesday. It also stressed the buildup in the growth momentum is likely to be sustained. The article on the state of the economy published in the Reserve Bank's December Bulletin on Wednesday also said CPI-based retail inflation is expected to ease to 4.6 per cent in the first three quarters of 2024-25 from 5.6 per cent in November.
Rediff.com takes a look at the progress of schemes initiated by the government.
Overall, the MF industry saw nearly Rs 5 trillion, or 18 per cent, of asset erosion in March, with the asset base shrinking to Rs 22.26 trillion from Rs 27.22 trillion at February-end.
Nearly 3.64 lakh educated and "semi-educated" youngsters had registered with employment exchanges across Gujarat till December 2021, according to state government data.
Directing the DISCOMS to make the payments to the employees within three months, the Delhi high court asked them to adopt a method to pay pension, gratuity, leave encashment etc.
A land-owning class, the Jats are a powerful community and account for 28 per cent of Haryana's population. The time, they believe, has now come for them to take revenge.
When taken at the right time it can prove to be your best friend during old age
'Any earnings, regardless of location, will be subject to Indian income tax.'
Days after protests by war veterans, Prime Minister Narendra Modi on Saturday said that his government was committed to One Rank One Pension.
The fact that Gehlot has stayed relevant these five years with his populist schemes is one reason why he may beat incumbency in a state that votes for change every election, observes Ramesh Menon.
Ramesh said the local leadership and admitted there were shortcomings in the party's campaign there.
In the all-party meeting on Tuesday, Opposition parties demanded discussions on price rise, unemployment and Economically Weaker Section (EWS) quota among other issues, sources said.
Allocation of portfolios would be the immediate vexatious issue for the party, with supporters of Virbhadra Singh already feeling sidelined after the elevation of the late chief minister's professed rival Sukhu.
