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.
A few days after the Cabinet cleared the new pension scheme for government employees, Labour Minister Sahib Singh Verma on Wednesday expressed concerns over it, even as he said his ministry had no objection to the proposed scheme.
The Union government has engaged the Asian Development Bank to provide technical assistance in implementing the new pension scheme for the unorganised sector.
Private life insurers have asked Insurance Regulatory and Development Authority to come up with a standardised product.\n\n
The Centre has decided to appoint a private fund manager to manage the proposed social security scheme fund for the informal sector, to be launched on January 23.
The proposal is currently with the finance department and is expected to be placed before the Cabinet in the coming days.
The former India captain and coach called upon well-off cricketers to gift the money to others in need.
As many as 8.5 lakh bank employees are set to benefit from the wage hike, which will be effective from November 2017.
The first of the six pension funds to be set up in the country is to be launched on October 2, well in time to operationalise the new pension scheme for government employees joining after October.
Bollywood superstar Amitabh Bachchan and his family have turned down Uttar Pradesh government's largesse that saw the celebrities being among the first beneficiaries of a new pension scheme for people awarded the Yash Bharti Samman.
Several critics including some rating agencies have doubted prospects of meeting this ambitious fiscal deficit target.
Railway employees will take a final call on whether to go on a general strike to press for their 36-point charter of demands including jobs for wards of employees on VRS.
Singh was widely regarded as an expert in the rural and agricultural landscape of the country and is credited with the conceptualisation and implementation of the NREGA (National Rural Guarantee Employment) Act.
Goyal also announced hiking of tax free gratuity to Rs 30 lakh from existing Rs 20 lakh for employees having service of more than five years.
The CMOAI had earlier called for a three-day strike that began on Thursday.
Days ahead of the Budget, Reserve Bank Governor Raghuram Rajan on Wednesday pitched for increasing the tax exemption limit on financial investments by individuals from Rs 1.5 lakh a year.
If a risk taker and young, NPS would suit her/him. Otherwise, s/he should go for EPF.
Finance Minister Nirmala Sitharaman on Friday hiked tax on petrol and diesel, raised import duty on gold, levied additional surcharge on super rich and brought a tax on high value cash withdrawals as she sought to spur growth with reduction in corporate tax and sops to housing sector, startups and electric vehicles.
The idea of retirement planning with a pension plan assures regular income to the policyholder in the form of pension or annuity.
At present, deposits, accrual of interest and withdrawals are tax free under the scheme.
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.
Don't let income tax come in the way of your long-term financial planning, says Ashish Vohra, Senior Director and Chief Distribution Officer, Max Life Insurance
HSBC maintained "overweight" rating on Indian equities, saying "fundamentals are strong".
Now that the National Pension Scheme offers more choices than the Employees Provident Fund, is more transparent and also allows to choose the level of allocation to equities as investors like, should one switch to the NPS?
There appears to be a growing perception among the political class that faster growth will not create jobs fast enough and, therefore, welfare spending needs to be drastically increased, says T T Ram Mohan.
When taken at the right time it can prove to be your best friend during old age
Finance Minister Arun Jaitley presented the Union Budget.
The Pension Fund Regulatory and Development Authority Bill, 2011, provides for market based returns and wide coverage based on several investment options in the pension sector with an aim to building confidence in the subscribers.
The govt has incentivised the worst of investment products.
FM proposed rationalisation of various tax exemptions.
Simple takeaways from the Union Budget 2015-16 and how it impacts your life
'The Opposition has no option but to make it an 'All versus One' fight to even think about winning.'
The government should now focus on governance and monitoring the supply side to manage inflation, says M V Subramanian.
Indian economy about to take-off
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