The Union Cabinet on Friday increased the dearness allowance and dearness relief by 4 per cent to 42 per cent to benefit 47.58 lakh central government employees and 69.76 lakh pensioners. The combined impact on the exchequer on account of both Dearness Allowance and Dearness Relief will be Rs 12,815.60 crore per annum, I&B Minister Anurag Thakur told reporters after the meeting of Cabinet Committee on Economic Affairs (CCEA).
The Unified Pension System (UPS), approved by the Union Cabinet on Saturday, is "fiscally prudent" as it will be funded within the Centre's fiscal projections, according to T V Somanathan, the Cabinet Secretary-designate. Speaking to Business Standard immediately after the Cabinet nod, former finance secretary Somanathan, who headed the committee set up in March 2023 to review the National Pension System (NPS), said the UPS will not postpone pension expenditure as it will be contributory and financed each year.
The Supreme Court on Tuesday barred Karnataka Police from taking any coercive steps against badminton player Lakshya Sen, his family members, and coach over allegations of forging birth certificates.
'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.'
The salary hike for government employees is likely to put an additional burden of Rs 24,000 crore on the state excheque.
'Younger employees, who tend to have a higher risk appetite, will find NPS advantageous due to the potential gains from equity markets over time.'
Besides, the regulator has decided to classify ESOP Trust as a separate group of shareholding entities.
The Supreme Court of India has invalidated the appointment of 25,753 teachers and other staff in West Bengal's state-run and state-aided schools, deeming the selection process "vitiated and tainted." The court ordered the state government to conduct a fresh selection process within three months. The decision comes after a Calcutta High Court verdict in April 2024, which also annulled the appointments. The apex court, while upholding the high court's order, made some modifications, including exempting disabled employees from returning their salaries. The case stemmed from alleged irregularities in the 2016 recruitment process by the West Bengal School Service Commission (SSC), involving OMR sheet tampering and rank-jumping. The Supreme Court had previously termed it a "systemic fraud." Former West Bengal education minister Partha Chatterjee and Trinamool Congress MLAs Manik Bhattacharya and Jiban Krishna Saha are among the accused being investigated in the recruitment scam.
IT services firm Wipro's revenue is likely to increase by about 4.5 per cent in FY26, mainly driven by favourable sectoral trends and recovery in discretionary customer spending, according to global rating agency Fitch.
Prime Minister Narendra Modi is set to hold bilateral meetings with US President Donald Trump and other prominent American personalities during his two-day visit to the United States.
While Elon Musk's political influence continues to grow, his business empire is witnessing headwinds.
Although the company has shown willingness to talk to its workers and accept their key demands, it is CITU that is causing a roadblock to a solution.
Quiet hiring allows employees to expand their skill sets, making them more versatile and valuable to the organisation, says Sonica Aron, founder of the HR consultancy firm, Marching Sheep.
Switching to the UPS could be a game-changer for your retirement planning, especially if you value guaranteed benefits and higher government contributions, observes Ramalingam Kalirajan.
If you redeem your investments when prices have fallen sharply, you will be selling at low prices and may make a permanent loss. On the other hand, if you remain patient and remain invested, you give your investment the time to recover, says Dwaipayan Bose
Market regulator Sebi on Wednesday proposed a new set of regulations for employee stock options, wherein certain restrictions imposed on companies for award of such allotments to staff members could be eased.
'Binary fission will happen -- startups will lead to more startups.'
Privately, many bankers admit their immediate goal is not growth but slowing the erosion of Casa deposits, reveals Tamal Bandyopadhyay.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The government on Wednesday announced that dearness allowance for govt employees has been hiked to 6 per cent.
While advancements in biotechnology hold immense promise for health and innovation, they also come with significant risks if misused.
The ruling party MLA from Vijayanagara suggested that the election guarantees have made it difficult to provide houses to the poor in the state.
On-demand convenience platform Swiggy on Monday said it has announced its fifth ESOP liquidity programme giving options to employees across levels and functions to receive liquidity of up to $65 million (over Rs 540 crore). Tis is the fifth liquidity event for Swiggy since 2018, and the third consecutive event after July 2022 and 2023, the company said in a statement.
Some of the proposed policies have been welcomed by pilots and cabin crew, while others have sparked criticism.
The Union Budget 2025-26, while promising a new framework for smoother mergers and acquisitions (M&As), has plugged a major loophole on carry-forward losses for a total of eight assessment years between amalgamating company and amalgamated company from the date of loss instead of date of the merger. For all mergers effected on or after April 1, 2025, the losses can be carried forward only for the residuary period (counting from the date of loss).
If you lack an emergency fund or it is depleted, use part of your bonus to build or replenish it.
'In India, dating is a very personal thing.' 'If someone wants to go out on a date, s/he would prefer not to keep their manager in the loop.'
The Pune office of Ernst & Young (EY), in news after the death of a woman CA, was functioning since 2007 without a license under the Shops Act, which stipulates employees' welfare among other conditions, an official said on Wednesday. This is a violation of norms. A notice will be issued to the firm and based on its response, further action will be initiated, the official from the Maharashtra labour department said.
Micromanagers feel the need to be involved in every decision, hence they will avoid delegating tasks and spend a lot of time focusing on minor details rather than the bigger picture, says Sonica Aron, founder of the HR consultancy firm, Marching Sheep.
Prime Minister Narendra Modi has lauded the Union Budget as a "people's budget" that fulfills the dreams of every Indian and said that it is a "force-multiplier" that will boost consumption, investment and growth. He highlighted a host of measures for different sectors, including welfare initiatives for gig workers, tax relief for the middle class, and support for the manufacturing sector.
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.
ELSS investments require a long-term commitment of at least seven years.
If you have seen Zwigato, Param Kumar's story will sound familiar. Laid off from his job as a repairman at a Gurugram-based water purifier provider, he now delivers groceries and food for a mobile-based delivery app, in Delhi. Kumar, who started making deliveries last August, told Business Standard that he is working longer hours than his older salaried job as an RO repairman, and has no paid leaves or health insurance. Kumar is part of India's estimated 7.7 million-strong force of gig workers.
The number of monthly fresh formal hirings saw a slowdown in August, signalling a downturn in the formal labour market. In August, the number of new monthly subscribers under the Employees' Provident Fund (EPF) decreased by nearly 11 per cent to 930,000. This is a four-month low from 1.05 million in July, according to the latest monthly payroll data released by the Employees' Provident Fund Organisation (EPFO) on Sunday.
Be it poor, middle class, upper middle class or rich, every individual who is 70 years and above is eligible for getting Ayushman card and will receive free treatment up to Rs 5 lakh at any of the AB PMJAY empanelled hospitals once the expanded scheme gets launched.
Labour Minister Mansukh Mandaviya urges state government 'to intervene for an early and amicable resolution for maintaining a positive manufacturing sector ecosystem'.
With its age-old fascination for education, southern states have done better than the North. Start-ups, IT hubs, and industry majors setting up shop have changed the face of the South. Nearly 79% of global offices set up by international conglomerates in India are in the South. Almost 46% of tech unicorns are from the South. The GDP per person in the South is 4.2 times higher than the North. None of these indicators can be ignored by any central government, whatever the political compulsions, notes Ramesh Menon.
Western Digital is offering a one-time scholarship of up to Rs 75,000 to persons with disabilities and transgender students pursuing graduation, post-graduation and PhD degrees in STEM-related fields.
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