The government wants to reduce the rate of contribution - part of the employee's share - for a class of workers depending upon age, income or gender, without changing the contribution from the employer's share.
RSS-aligned Bharatiya Mazdoor Sangh (BMS) on Monday expressed disappointment over the government's budget proposals with regard to divestment and foreign direct investment, especially in the insurance sector. The BMS, however, lauded the government for its current efforts on the massive vaccination programme, a special scheme for tea workers in West Bengal and Assam, labour oriented push on infrastructure projects in construction sector and development of five major fishing harbours viz. Kochi, Chennai, Visakhapatnam, Paradip, and Petuaghat as hubs for economic activities etc. On other Budget proposals, it said in a statement that "mixing the beautiful concept of Aatmanirbhar Bharat with FDI and disinvestment in the Union Budget is disappointing for the employees".
The normal operations, including payment and settlement activities in the Reserve Bank of India (RBI), are likely to be affected on Friday with its employee unions going on one-day strike to press their demands on pension.
Finance Minister Pranab Mukherjee in likely to launch the scheme in the first week of July from Rai Bareli, the Lok Sabha constituency of Congress president Sonia Gandhi.
The proposal had attracted strong criticism from the salaried class.
Mutual funds (MFs) have stepped up equity purchases after staying on the fence for over two months. Their net equity investments reached a four-month high of Rs 7,700 crore in July, rising for the fourth consecutive month after withdrawing a net of Rs 5,100 crore in April 2023. This trend continued in August, with net investments of Rs 3,400 crore in the first three trading sessions, according to data from the Securities and Exchange Board of India.
As he said this, he set the target of winning 156 seats in the assembly election due later this year.
A look at how people from different walks of life analyse the Budget.
If re-elected, his government will set up a National Traders' Welfare Board, bring trader credit cards and a pension scheme for small shopkeepers besides making a provision to provide loans of up to Rs 50 lakh without collateral.
A pension disbursing bank can access the portal to get digital life certificate.
A federation of various railway employee unions has decided to launch a countrywide 24-hour hunger strike on Tuesday to demand better package for railway employees and scrapping of new pension scheme.
The demands include better package for trackman, upgradation technician's grade, improvement of pay scales of running staff and clearance of arrears, among others.
Employees of the State Bank of India will go on an indefinite strike countrywide from Monday demanding enhanced pension package.
It had earlier proposed cutting it down to Rs 250 crore due to slow progress in enrollment of new employees.
The tax authorities and insurance regulator Irda are working on the possibility of removing Service Tax on first premium.
About 70 ex-servicemen on Tuesday sat on a dharna at Jantar Mantar in New Delhi against the delay in implementation of the 'One Rank, One Pension' scheme even as the relay-hunger strike by retired soldiers on the issue entered its ninth day.
Telecom and IT Minister Ravi Shankar Prasad said one of the primary focus areas of Digital India is Pillar 5: eKranti - electronic delivery of services.
The social activist said the OROP issue was agreed upon by the government in 2014 but was not implemented.
Thousands of public sector bank employees across the country now have reason to rejoice.
"There has been a 0.05 percentage points decline in the share of allocation for child budget to the Union Budget from 2.35 per cent (2022-23 BE) to 2.30 per cent (2023-24 BE).
The NPR data can be used for transparent and efficient delivery of social benefits by linking it with various beneficiary oriented government schemes, they said.
Overseas Indian Affairs Minister Vayalar Ravi said the diaspora community has been contributing significantly to India's economy by sending billion of dollars in remittances and government is launching the scheme to support them on their return to the country.
rediffGURU T S Khurana answers readers' personal income tax queries.
Dhrupadi Ghosh, who works for a magazine in Kolkata, tells Rediff.com's A Ganesh Nadar what she would like to see in Finance Minister Nirmala Sitharaman's Budget.
The government had earlier stipulated documents such as PAN card, matriculation certificate, passport, CGHS card and driving licence as proof of age for old pensioners.
Mutual funds are set to bag a huge chunk of the nearly Rs 3,05,000 crore cash reserves of the public sector companies.
"I am personally averse to sealed covers. There has to be transparency in court... This is about implementing orders. What can be secret here," the CJI said.
The government on Monday announced that it has credited revised pensionary benefits along with arrears under One Rank-One Pension scheme to more than 2 lakh pensioners drawing service and disability pensions.
Ex-servicemen on Saturday protested against the delay in issue of official notification by the government to 'one rank one pension' scheme as announced by Defence Minister Manohar Parrikar in September.
Private sector has continued to look at outsourcing and offshoring, despite government's measures.
Per capita income in the state has consistently been below the national average for at least 24 years. However, it has narrowed the gap with the all-India level in recent years.
rediffGURU Samkit Maniar answers readers' personal income tax queries
'Arithmetic could decide the Haryana election given the presence of multi-cornered contests.'
RK Dhowan stressed that OROP has been a "priority area" and the issue has been taken up with the ministry.
The government on Tuesday said it is not formulating any policy for implementing 'One Rank One Pension Scheme' for paramilitary forces.
The finance ministry on Wednesday allowed all private sector banks to participate in government-related business, like collection of taxes. pension payments and small savings schemes. At the moment, only few large private sector are allowed to conduct government-related business.
'Right to apprenticeship means that anyone below the age of 25 years with a diploma or other qualifications can demand an apprenticeship with a private, a public sector company or a government organisation. And when he/she demands this, it is the obligation of the government to provide it.'
