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Fund managers will be given more flexibility to invest in corporate bonds.
Economic Advisory Council to the Prime Minister (EAC-PM) chairman Bibek Debroy on Tuesday said the government was losing revenue due to the GST, which should be revenue neutral with a single rate. Speaking at an event organised by the Calcutta Chamber of Commerce in Kolkata, he however said that GST has led to a lot of simplification. "The ideal GST is one that has a single rate, and it was meant to be revenue neutral.
The amendment now makes it compulsory for corporate PF trusts to comply with the Employees Provident and Miscellaneous Provisions Act, 1952, and to claim exemptions under Section 17 of the same Act.
Central trade unions on Wednesday decided to hold a nationwide demonstration on January 20 against the government's notification of 8.5 per cent EPF rate for the current fiscal.
'Now, we have a minimum pension of Rs 1,000 annually.'
Taking note of the 'indigent circumstances' in which former athlete Santhi Soundarajan has been living, the Sports Ministry has sanctioned an assistance of Rs 60,500 to fund her NIS Diploma Course at the SAI Centre in Bengalore.
'We need to find out whether any structural element has got fatigue.' 'We want to increase the lifespan of the bridge.'
The next general election is more than three years away. Yet, the Centre appears to be reluctant to take any bold move that might annoy influential sections of the electorate.
The Budget session of Parliament is likely to conclude on Thursday, a day ahead of schedule.
At present, laws on wages do not cover workers getting a monthly wage of more than Rs 18,000
In order to check frequent strikes by bank employees, the government on Tuesday extended the period of public utility status of banking services and made it mandatory for workers to give six months notice before proceeding on strike.
Issuing a slew of directions, a bench of Justices S Ravindra Bhat (since retired) and Aravind Kumar asked the central and state governments to pay Rs 30 lakh as compensation to the next of kin of those who die while cleaning sewers.
There have been several occasions when workers have raised an industrial dispute with employers demanding compensation for being retrenched due to continued illness
More women are leaving their homes than ever before to hunt for jobs in India's overcrowded employment market, the first government study of its kind released in New Delhi showed.
Around 50 to 55 lakh job seekers, on an average, annually register with the employment exchanges for over two lakh notified vacancies.
Union minister for coal and mines Mamata Banerjee on Monday announced 15 per cent interim relief for coal miners and employees and said no collieries would be closed and no retrenchment would be made.
Retirement fund body EPFO net added 14.81 lakh subscribers in August 2021, reflecting a growing trend in net payroll for the first five months of this fiscal. The provisional payroll data of Employees' Provident Fund Organisation (EPFO) released on Wednesday highlights that it added around 14.81 lakh net subscribers during the month of August 2021, a labour ministry statement said. The data reflects a growing trend in net payroll for the first five months of the current financial year, it added.
To provide better working conditions and social security to workers in the unorganised sector, an empowered group of ministers on Friday cleared a draft of the unorganised sector workers bill that provides for pension and insurance to the workforce.
Over 10 lakh workers who quit or lost jobs so far this fiscal got a major relief on Monday with the government taking a decision to pay 8.5 per cent interest on employees provident fund.
About a million railway employees participated in the strike ballot of NFIR. In December, 800,000 employees participated in the strike ballot conducted by another leading union, the All India Railwaymen Federation, with 96 per cent voting in favour of a strike.
For Indian equities, this will a good stabilising hedge against the speculative investor breed, which is largely dominant in Indian equity markets.
Seven of the meetings will be held in late November or early December at the finance ministry, as is the norm.
The Finance Ministry has been pitching for EPFO funds to be invested in the equity markets to maximise their yields.
The government views dropout as a barrier to achieving the new National Education Policy's aim of 100 per cent gross enrolment rate at the school level by 2030, according to officials.
Despite the labour ministry's claims that it is vigourosly chasing the employees provident fund defaulters, the money that employers owed to the fund mounted to Rs 1,758 crore till July, but EPFO might be able to realise only Rs 571 crore.
Their favourite alternatives: Malaysia, Vietnam and the Philippines. Note, India is missing from that list. And this is despite an attractive financial incentive scheme for OSAT players. The reason, said a senior executive of a US chip company who had a meeting in Taiwan just a few weeks ago, is that "they want more predictability in government policy because they plan to put in big money."
While some trade union leaders have welcomed the move, industry has opposed it, fearing an increase in its wage bill
The Philippines' foreign ministry confirmed in a statement that one of its nationals had died while working at a resort south of the capital Doha. It said its embassy was "working with legal authorities to ascertain more details of his passing".
Air India Chairman Rajiv Bansal has been appointed as the new aviation secretary as part of a major top-level bureaucratic reshuffle effected by the Centre on Wednesday. K Rajaraman, additional secretary in the department of economic affairs, has been appointed as secretary, department of telecommunications, a personnel ministry order said.
The company stated that it was taking steps for cost rationalisation across all businesses to maintain liquidity and due to a prolonged slowdown it had to take a few tough measures.
The 15% invested every month in equity would be allotted to subscribers in the form of units.
However, the hike in salary for government officials may take some time as the Centre had earlier this year decided to put a freeze on any hike in the DA of its employees till July, 2021, owing to the Covid-19 pandemic.
The Union government could target a fiscal deficit of 5.8-6 per cent of nominal GDP for 2023-24, and it should continue its capital expenditure push and look to simplify the personal income tax regime, economists recommended Finance Minister Nirmala Sitharaman and her team during their pre-Budget interaction on Monday. Starting last week, Sitharaman had eight pre-Budget consultations this time. More than 110 invitees representing seven stakeholder groups participated in these meetings, the finance ministry said in a statement. The stakeholder groups included representatives and experts from agriculture and agro-processing industry; industry, infrastructure & climate change; financial sector and capital markets; services and trade; social sector; trade unions and labour organisations; and economists.
For Swarup, the job would not be just challenging but also tricky, given the negativity attached to the sector.
