FM hiked the limit for investors to invest in RGESS to Rs 12 lakh from Rs 10 lakh.
The aggressive life cycle fund will allow equity exposure of up to 75%, up from the current limit of 50%.
All those years of contributions not adding up to a big reward definitely makes the scheme unappealing.
While reasonable safeguards should be built in, there can't be restrictions on the individual's right to leave her/his money to whoever s/he wants, notes Harsh Roongta.
Institutional investments in real estate may fall 20 per cent to $4 billion during this calendar year because of a higher inflow of funds in 2020, according to property consultant JLL India. During the January-September period, the institutional investment rose to $2,977 million from $1,534 million in the year-ago period. "Unless some large portfolio deals are not inked at the end of the year, annual investments are expected to be in the $3.8-4 billion range in 2021," JLL said in a statement. Institutional investments managed to cross the $5 billion mark in 2020 due to large portfolio deals worth $3.2 billion during the last quarter of the year.
Employees' Pension Scheme has been asked to fold up and hand over subscribers to National Pension System
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
India has allocated Rs 1.72 trillion, or 27.67 per cent of the total defence budget to cater to modernisation of the country's arsenal. Modern militaries spend up to 50 to 60 per cent of their total defence budget so that they go into combat with superior weaponry and equipment.
2023 could be another volatile year for Indian equity markets, according to BofA. In a report, the brokerage pointed out that the Nifty50, at present, is trading at 20.7x against its long-term average of 18.8x one-year forward earnings of current Nifty constituents. Plus, India is trading at a 98 per cent premium to its emerging market (EM) peers against its long-term average of 45 per cent.
'This year overall hiring has seen a slight improvement as compared to the dip seen during the last financial year.'
EPFO has an ambitious plan to settle the claims within few hours after filing of application
Restrict investment to Rs 50,000 for tax benefits, experts tell Sanjay Kumar Singh, but caution that taxation at maturity and compulsory annuities are dampers.
Following his resignation, the Finance Ministry has appointed Joint Secretary Anup Wadhawan as Chairman of the PFRDA.
The decision to suspend this benefit will hit 32 lakh pensioners.
The Supreme Court on Tuesday upheld the validity of controversial government pension scheme by which a certain percentage of an employer's contribution to the provident fund is diverted for pension purposes.
The finance ministry's proposal to increase equity exposure of non-government provident funds and superannuation funds from 5 per cent to 10 per cent may benefit only the high income group category and subscribers of the New Pension Scheme.
It is best to invest long-term surplus in stocks or equity mutual funds.
India will need $223 billion of investment to meet its goal of wind and solar capacity installations by 2030, according to a new report by research company BloombergNEF (BNEF). The government has set a target of increasing non-fossil power capacity to 500 GW by 2030. It wants non-fossil fuel power sources to provide half of its electricity supply by 2030. "To achieve this target, India needs to massively scale up funding for renewables," the report said, adding that $223 billion is required over the next eight years just to meet the solar and wind capacity targets.
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.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) will answer your personal finance-related questions.
rediffGURU Samkit Maniar answers readers' personal income tax queries
The first wave of COVID-19 last year impacted households as their financial savings moderated to 8.2 per cent of GDP in December quarter from 10.4 per cent in the previous three-month period, revealed an RBI data released on Wednesday. The preliminary estimate of household financial savings is placed at 8.2 per cent of GDP in October-December 2020-21, exhibiting a sequential moderation for the second consecutive quarter after having spiked in the pandemic-hit June quarter, RBI said in a release. "The moderation was driven by a significant weakening in the flow of household financial assets, which more than offset the moderation in the flow of household financial liabilities," it said.
The government plans to come up with a contributory pension scheme for its employees who joined service after October 2002, and set up a National Tax Tribunal to speed up settlement of disputes.
The supplementary demands for grants include a gross additional spending of over Rs 2 lakh crore, which would be matched by savings of over Rs 1.21 lakh crore.
'They (government) are trying to create market for pension products'.
A man who was ready to die for the country in his youth waits for his government to recognise his sacrifice and pay him his due in his old age.
Nikunj Saraf, Vice President Choice Wealth, answers your queries
The retirement fund body EPFO is likely to announce the rate of interest on employees' provident fund (EPF) deposits for 2022-23 at its two-day meeting beginning Monday. EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1 per cent for its about five crore subscribers, from 8.5 per cent in 2020-21 in March 2022. This was the lowest since 1977-78, when the EPF interest rate stood at 8 per cent.
Trustees of Retirement fund body EPFO will decide tomorrow on amending the scheme to provide a minimum monthly pension of Rs 1,000, which will immediately benefit about its 28 lakh pensioners.
The government will press ahead with the sale of public sector companies that have been approved by the Cabinet, Finance Minister Nirmala Sitharaman said on Thursday. Highlighting that FDI flow into India is much higher compared to other emerging economies, she said India's strong macroeconomic fundamentals, ability to do reforms and a stable government help attract long-term foreign funds into Indian businesses.
Bowing to the Left pressure, the government is understood to have accepted certain proposals of its outside supporters to amend the pension bill including having public sector fund managers
The BJP also promised Rs 25,000 to girls from economically weaker sections under the 'Rani Gaidinliu Nupi Maheiroi Singi Scheme' if voted back to power.
NPS shifts the onus of fund management from the company or government to you.
The CII delegation includes many eminent names.
The increase in joining age will provide the options to the subscribers who are at the fag-end of the employment
Last week, the Pension Fund Regulatory Development Authority (PFRDA) appointed State Bank of India, UTI Mutual Fund and the Life Insurance Corporation as fund managers for the schemes to manage the corpus that has accumulated since the NPS was launched in January 1, 2004. At present, the NPS is restricted to all central government employees who have been recruited after January 1, 2004.
Reduction in the mandatory minimum contribution and extension to invest in the scheme from 60 years to 70 years has made the National Pension Scheme more friendly, says Anil Chopra, Group CEO & Director Bajaj Capital
'The shadow banks are currently facing a liquidity and solvency crisis.' 'The danger is that it could potentially engulf the entire financial system because shadow banks have borrowed huge amount of money from banks, mutual funds, pension funds, and insurance companies.'
Pitching for a slew of reforms in the Indian capital markets, leading bourse BSE has suggested the government bring in a new transaction taxation structure and besides seeking tax pass through status for Infrastructure Investment Trusts (InvITs).
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