Pakistan on Tuesday increased its defence budget by 20 per cent, allocating PRs. 2,550 billion ($9 billion) for the fiscal year 2025-26, amid tensions with India.
'A large part of my effort will be solving issues for the whole of Sugar Land, all communities, all populations.'
At a time when banks are finding it challenging to mobilise resources, State Bank of India (SBI)-the country's largest lender-has devised a three-pronged strategy to boost deposit accretion. First is an aspirational product that promises to make depositors lakhpatis by helping them grow their deposits to Rs 1 lakh through recurring deposit (RD) schemes.
The government on Tuesday announced withdrawal of the 2 per cent equalisation levy or digital tax on overseas e-commerce supplies.
Government said on Tuesday subscribers under the New Pension System will have a choice to invest in fixed income instruments and equity.
'The government has to explain (to the army, air force and navy chiefs) whether they want a punitive strike, a deep punitive strike, or whether they want limited war or an all-out war, will it be a circumscribed war or will it be a shallow attack along the border.'
Implications for capital gains, wealth taxes, and investment strategies require careful consideration, notes Anil Rego, founder and CEO, RightHorizons.
'The increase in the limit for TDS on interest to Rs 1 lakh will ensure greater cash flow in the hands of senior citizens.'
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 government today constituted a five-member interim Pension Fund Regulatory and Development Authority, which will come up with guidelines for a new pension system from January 2004.
The old tax regime remains unchanged. 'Taxpayers opting for it will continue to follow the existing slab rates and deductions.'
Why did the political system in the country react to these two decisions of the Modi government in a diametrically opposite manner? asks A K Bhattacharya.
In 2023-2024, 95 scheduled commercial banks received over 10 million complaints from their customers. The process of KYC at many banks has become 'HYC' -- harass your customer, points out Tamal Bandyopadhyay.
Finance Minister P Chidambaram on Tuesday asked Left parties to reconsider their opposition to the pension bill so that government can provide a "legal basis" to the new pension system started last year.
'Some part could be used for consumption purposes, and the rest could be used to meet important financial goals.' 'The split can be 30:70 to 50:50, depending on one's situation.'
All citizens of the country will be able to avail of pension facility from Friday, with the interim pension regulator PFRDA confirming the scheduled launch of the mega pension plan in a statement on Thursday.
Citing evolving needs and aspirations of the citizens, he said that the civil service must adapt to contemporary challenges to remain relevant.
The retirement fund body plans to launch 'One Employee One EPF Account' system on May 1.
The proposed PFRDA bill, aimed at setting up a regulator and manage a new pension system, will not allow pension schemes to invest their money in individual stocks.
'Younger employees, who tend to have a higher risk appetite, will find NPS advantageous due to the potential gains from equity markets over time.'
'The actions of Indian monetary authorities will depend on how quickly they want the inflation to come down to 4 per cent.'
A Parliamentary panel that went into a Bill to create a pension fund regulator has favoured 26 per cent FDI in the sector, but found many lacunae in the legislation.
Concerned over the problems of ageing population world over, India on Saturday wanted comprehensive pension reforms in both developed and developing countries as the challenges were similar.
India stands top among South Asian countries in pension coverage to its older people, according to a joint report by the World Bank and the Organisation for Economic Cooperation and Development.
NPS aims at ensuring financial security to every citizen by encouraging them to start contributing towards the old age saving.
Finance Minister P Chidambaram has announced that the government will soon notify an interim investment pattern for pension funds, pending the passage of the Pension Fund Regulatory and Development Authority Bill in Parliament.
The parents of Squadron Leader Abhimanyu Rai, an IAF pilot who died in a trainer jet crash in December 2023, have expressed their anguish over being ignored for entitlements and honours that were given to their daughter-in-law. They believe the government policy should be revised to include parents of martyred soldiers. Group Captain Amitabh Rai (retd) and his wife Chitralekha, the bereaved parents, say they have received no condolences from the government despite losing their only son. They argue that the current policy unfairly favors the martyr's wife, often leading to neglect of the parents. The Rais claim their son's death is not being recognized as a "battle casualty" and therefore he is not being treated as a martyr. They also raise concerns about the pressure on IAF trainers to complete training programs successfully, even when cadets are not prepared, potentially endangering both the trainer and the cadet.
The government on Tuesday said it was not considering 100 per cent foreign direct investment in the pension sector.
The New Pension Scheme (NPS), launched by the government, was extended to all citizens of the country from May 1, 2009. Under the scheme, 50 per cent of the funds is allowed for investment in the stock markets.
Employees' Pension Scheme has been asked to fold up and hand over subscribers to National Pension System
The eighth Budget of Finance Minister Nirmala Sitharaman continued to focus on 'GYAN' (Garib, Youth, Annadata, Nari) to maintain a consistent and coherent strategy initiated over the years in pursuing the government's vision for Viksit Bharat. The approach, characterised by incremental yet impactful steps, aims to create a compounding effect over time.
'It would be reasonable to assume that Modi 3.0 would be more focused on projects and schemes which do not require any legislative change or which have the support of its coalition partners,' asserts A K Bhattacharya.
'He didn't implement good policies for good politics.' 'He never worked on comprehensive policy-making.' 'In Kejriwal's own constituency youths are jobless.'
A new kind of pension-cum-savings scheme is on the anvil, which would provide a safety net as well as liquidity to the holder.
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Denmark has been rated as the country with the best retirement system in the world.
We need to equip the Indian Armed Forces, not 'commercial' as Trump wants, but 'operationally' looking at growing Chinese military capabilities, asserts Lieutenant General Prakash Katoch (retd).
He will succeed incumbent Rajiv Gauba, who completes his unprecedented five-year term in the top bureaucratic post this month-end.
Equity-focused schemes may perform better in a bull market, while debt-oriented ones may offer greater stability during volatile periods.
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