In an online chat with readers a few hours after the Union Budget 2015-16 proposals were announced by Finance Minister Arun Jaitley, Sundeep Agarwal, Director, PwC India, answered related queries to help put the announcements into perspective.
In view of the "runaway success" of the scheme, now it has been decided to make it open-ended with more incentives
As of now, foreign employees applying for withdrawal of provident funds are required to open bank accounts in India.
According to an Andhra government statement, Naidu 'reposed confidence' in the PM's leadership.
Restoration of the pre-2004 pension scheme, regularisation of contract employees after two years, enhanced daily wages, social security pension and appointment of anti-corruption grievances commissioner were the other promises made in the manifesto.
Over 100 ex-servicemen have signed the petition asking for early implementation of OROP without any dilution.
The finance minister continues to be backed by the same policy team in charting out the broad strategy as in the few earlier Budgets.
Modi said whenever Congress came back, all development works came to a standstill.
Fresh formal job creation cooled for the second consecutive month to decline to a six-month low in September, signalling a downturn in the labour markets this financial year. The number of new monthly subscribers under the Employees' Provident Fund (EPF) declined by 6.45 per cent to 891,583 in September from 953,092 in August, shows the latest payroll data released by the Employees' Provident Fund Organisation (EPFO). Besides, the net payroll additions -- calculated by taking into account the number of new subscribers, the number of exits, and the return of old subscribers -- increased by 14.9 per cent to 1.72 million in September from 1.49 million in August.
On March 13, Minister of State for Finance Pankaj Chaudhary had tabled the second batch of supplementary demands for grants in the House amounting to a total of Rs 2,70,508.89 crore.
Terming as "historic" the Centre's decision on 'One Rank, One Pension', the Bharatiya Janata Party on Saturday said Prime Minister Narendra Modi has fulfilled the commitment he made to ex-servicemen and provided them economic security while Congress had only played a "joke" on them when in power.
The apex court said there is no legal mandate that pensioners who held the same rank must be given the same amount of pension as it upheld the Centre's decision to give OROP in defence forces.
Have the markets already played out their dynamics before the economy has even properly taken off? Are we now destined for a period of mediocre returns despite a strong economy? asks Akash Prakash.
The increase in joining age will provide the options to the subscribers who are at the fag-end of the employment
Migrant workers play a very vital role in building the nation and their rights cannot be ignored at all, the Supreme Court said on Thursday while asking the Centre to devise a mechanism so that they receive food grains without ration cards.
Many senior citizens fail to disclose certain incomes like interest, commissions, or dividends in their ITRs.
West Bengal Chief Minister Mamata Banerjee on Saturday accused NIA officials of attacking villagers in Purba Medinipur district, the BJP hit back at her saying that the attack on the NIA officials is Sandeshkhalli 2.0 orchestrated by the state.
The defence budget was on Thursday increased to Rs 6.21 lakh crore for 2024-25 in a modest hike of 4.72 per cent from last year's allocation of Rs 5.25 lakh crore amid India's continuing border row with China in eastern Ladakh as well as concerns over evolving security situation in the strategic waterways.
In a bid to enhance its equity exposure and earn higher returns for its nearly 65 million subscribers, the Employees' Provident Fund Organisation (EPFO) is considering reinvesting 50 per cent of its exchange-traded funds (ETFs) redemption proceeds back into equity. Sources close to the development said a proposal regarding this was discussed in the investment committee (IC) meeting in October last year, and the recommendation has been sent to the Central Board of Trustees (CBT), the apex decision-making body of the EPFO for its approval. The next CBT meeting is scheduled to be held on Saturday.
The Supreme Court on Monday came down heavily on the ministry of defence over its January 20 communication regarding payment of arrears of One Rank-One Pension (OROP) in installments to eligible pensioners of the armed forces.
SBI Q3FY24 result review: A higher-than-factored weakness in the October-to-December quarter (Q3) results of State Bank of India (SBI), for financial year 2023-24 (FY24), has prompted brokerages to cut earnings estimates for the ongoing financial year. They, however, have maintained 'Buy' ratings on the stock, revising target price upwards in some cases, owing to the stock's recent underperformance relative to its peers.
Solicitor General Tushar Mehta, appearing for the Centre, told a five-judge Constitution bench headed by Chief Justice D Y Chandrachud, which is hearing a batch of pleas seeking legal validation of same-sex marriage, that the government is positive about the suggestion for exploring administrative steps in this regard.
A portfolio can be rebalanced by either selling a portion of the outperforming asset class or by buying more of the underperforming asset class.
Finance Minister Arun Jaitley more than halved the central government's financial support.
Gandhi also raised the issue of rising prices of LPG cylinders and said crores of beneficiaries of the Ujjawala scheme are not able to afford a refill.
Only Rs 3,000 cr has been disbursed. Over 80% of these transfers were for cooking gas subsidy.
A fierce competition among parties to offer freebies and guarantees, a scramble for tribal, OBC, women votes and a touch of Hindutva -- all have combined to make the Madhya Pradesh assembly polls a high-stakes battle with main rivals BJP and the Congress pulling out all the stops to gain power.
Finance Minister Nirmala Sitharaman on Thursday announced a Rs 11.11 lakh crore spending on infrastructure and vowed to continue reforms as she resisted resorting to populist measures in Modi government's last Budget before general elections, instead choosing to stay on the path of cutting deficit while bolstering measures for focus groups.
For every rupee in the government coffer, 58 paise will come from direct and indirect taxes, 34 paise from borrowings and other liabilities, six paise from non-tax revenue like disinvestment and two paise from non-debt capital receipts, according to the Budget documents for 2023-24.
Calling himself 'Shramik No.1' (Worker No.1), he listed out initiatives taken by his government for the welfare of labourers.
The party said, besides MPs and MLAs, all its office bearers will take part in the events which will include public meetings, intellectual conventions, press conferences and interactions with beneficiaries of the government's welfare schemes.
The Army, stated that "in view of conflicting messages on social media regarding financial assistance to the Next of Kin of the deceased, it was important to clarify that emoluments due to the Next of Kin were governed by the relevant terms and conditions of service of the soldier".
Syed Firdaus Ashraf/Rediff.com lists 11 Modi flagship schemes that may have been gamechangers in the Lok Sabha election.
When the subscriber reaches superannuation or the age of 60, 60 per cent of the total corpus accumulated in NPS can be withdrawn as a lump sum.
Veterans bemoan the 'lack of intention' shown by the Modi sarkar, who seem to have reneged on their poll promise.
For large numbers of employees in the government system, the month-end salary cheque is no longer guaranteed. So the days of the government and State-owned enterprises wanting to be ideal employers are over, observes T N Ninan.
The former defence minister said that all formalities were completed and all orders issued on OROP but its implementation is not being done by the Modi government.
It is proposed to provide a combined upper limit of Rs 7.5 lakh in respect of employer's contribution in a year to NPS, superannuation fund and recognised provident fund and any excess contribution is proposed to be taxable.
'The impact of this delay and the breach of trust will be felt in the 1.5 million active serving personnel of the Armed forces, as they will also become part of the ex-servicemen for eventually,' ex-servicemen tell the finance minister.
Rahul said that the purpose of the party's 'Bharat Jodo Yatra' is to remove fear from the people's minds and highlight issues like price rise and unemployment.
