Dr T V Somanathan is the first finance secretary to be appointed Cabinet secretary since 1985. His appointment at this juncture seems to carry much meaning for the forthcoming trajectory of reforms and restructuring of India's steel frame.
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.
'No one is propagating RSS ideology as a government officer.'
'Compare the new slabs with the previous years to understand if your tax liability will increase or decrease after the Budget.'
'This year overall hiring has seen a slight improvement as compared to the dip seen during the last financial year.'
"The amount of both the family pensions will now be restricted to Rs 1,25,000 per month, which is over two and half times higher than the earlier limit," said Singh, the Minister of State for Personnel.
Personal growth and self-discovery are significant factors in the rise of grey divorces, says relationship expert Kanchan Rai.
The death toll of the blast at an explosives factory near Nagpur city rose to seven on Friday evening with another worker succumbing during treatment even as the owner and manager of the factory got bail soon after arrest.
The Indian Air Force, in particular, has grown from a very modest beginning just about 90 years ago, to being "one of the most formidable air forces in the world", the IAF chief said.
He also said that the BJP's defeat in Faizabad seat of Ayodhya, where the Ram temple has been built, shows the wisdom of voters.
The Union Budget 2021-22 has made it easier for sovereign wealth funds and pension funds to invest in Indian infrastructure projects, but some of the new rules may need more clarity, experts said. The proposed regime requiring investments through holding companies may have adverse tax implications for such funds and may create an arbitrage between the new and old projects, they said. Besides, the ownership structure of holding companies through which investments are to be made requires further clarification, they added.
The Maharashtra cabinet on Thursday cleared a proposal that offers an option of availing the Old Pension Scheme (OPS) to the state government employees who joined the service after November 2005.
"In view of the crisis arising out of Covid-19, it has been decided that additional instalment of dearness allowance payable to central government employees and dearness relief (DR) to central government pensioners due from January 1, 2020, shall not be paid. "The additional instalment of DA and DR due from July 1, 2020, and January 1, 2021, shall also not be paid," the department of expenditure said in an office memorandum.
Seven accused army personnel, including a major general and two colonels, escaped from any punishment even though a military court initially and a Central Bureau of Investigation inquiry found they were involved in the alleged crime.
Amid the Budget preparation, the revenue department is assessing the feasibility of further adjustments to maximise benefits for salaried individuals.
Rescue teams on Friday used GPS coordinates from aerial drone pictures and cell phones, including the last location of people who lived in the landslides-hit areas of Wayanad to help locate survivors, amidst accelerated search operations after the completion of the 190-foot-long Bailey bridge by the Army.
Invest in MFs for liquidity and choice of funds. Invest in NPS for the tax benefits, tax-free rebalancing, and for earmarked savings for retirement.
The number of fresh formal jobs generated in a month increased to a seven-month high in April, signalling a recovery in the formal labour market in the country, according to the latest monthly payroll data released by the Employees' Provident Fund Organisation (EPFO) on Thursday. In April, the number of new monthly subscribers under the Employees' Provident Fund (EPF) sequentially increased by 18.77 per cent to 887,438 from 747,146 in March.
A retirement fund can be helpful for all age groups, but ideally one should start investing early to beat market swings and gain from compounding.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Te Congress slammed the Centre's order, alleging that Prime Minister Narendra Modi wants to politicise employees on an ideological basis.
States like Uttar Pradesh, Uttarakhand, Gujarat, Odisha, Madhya Pradesh and Chhattisgarh had on Friday announced similar incentives.
Building your Retirement Nidhi is your Karmayoga, ensuring a Golden Yug where you can truly enjoy the fruits of your labour, says Vatsal Ramaiya as he explains how Rs 15,000 per month can help build a Rs 7 crore corpus.
Rajasthan is reeling under a huge financial burden with the state's debt having gone beyond Rs 5.59 lakh crores. Rajasthan has increased expenditure on education by 203.4 percent, by 105.4 percent on health, by 227.14 percent on housing. Its expenditure on social welfare schemes has increased by almost 2,475 per cent.
The idea of retirement planning with a pension plan assures regular income to the policyholder in the form of pension or annuity.
An increase in the farmer income support scheme PM Kisan Nidhi, the introduction of a 'robot tax' to fund reskilling of people who lose their jobs to artificial intelligence (AI), and a reduced income-tax (I-T) to bring relief to the middle classes - these are some of the items in the Budget wish list submitted by Sangh Parivar affiliates to Finance Minister (FM) Nirmala Sitharaman. Representatives of the affiliates of the Rashtriya Swayamsevak Sangh (RSS), such as the farmer organisation Bharatiya Kisan Sangh (BKS); trade union Bharatiya Mazdoor Sangh (BMS); Laghu Udyog Bharati, which works for micro and small industries; and Swadeshi Jagran Manch (SJM), which works on economic and policy issues, met the FM and other officials over the last couple of weeks as part of the pre-Budget consultations.
Signalling both change and continuity, India's new government, headed by Prime Minister Narendra Modi for a third consecutive term, got into work gear on Tuesday with cabinet ministers and ministers of state filing into their respective offices to assume charge.
'Barring a temporary blip where stocks fell on verdict day, we are back to all-time highs.'
Using the Mahabharat reference as a leitmotif, Leader of Opposition in the Lok Sabha Rahul Gandhi on Monday claimed that an atmosphere of fear prevails all around with a group of six trapping the entire country in a 'chakravyuh' he promised would be broken by the INDIA bloc.
'Filing a nil ITR serves as a formal declaration to the tax authorities that your earnings fell below the taxable threshold in the given financial year, and you had no tax liability during that period.'
With a large number of Indian youth aspiring to work in the railways, delays in filling up railway job vacancies were a point of criticism against the BJP in the run-up to the elections.
The Bill envisages an authority to promote old-age income security by establishing, developing and regulating pension funds, to protect the interest of subscribers of pension funds.
The proposal is currently with the finance department and is expected to be placed before the Cabinet in the coming days.
24 hours before campaigning ends in Thiruvanathapuram, Archana Masih/Rediff.com discovers Shashi Tharoor and his BJP rival Rajeev Chandrasekhar are busy getting their message across to voters.
The finance minister continues to be backed by the same policy team in charting out the broad strategy as in the few earlier Budgets.
All pre-election opinion polls indicate a strong majority for the Opposition Labour Party, forcing the incumbent Sunak-led Conservatives on the back foot to caution voters against handing a "supermajority" to the Keir Starmer-led Labour.
Here is the complete list of ministers in Modi 3.0 and their portfolios:
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 Ministry of Personnel, Public Grievances and Pensions has received representations from various quarters to do away with the condition of applying for family pension through 'Form 14' as it was causing inconvenience to widows, who find it difficult and 'embarrassing' to present themselves before two gazetted officers or persons of repute for attestation.
According to official statistics, half of India's GDP comes from as many as 420 million workers in the unorganised sector including street vendors, rickshaw pullers, construction workers, rag pickers, agricultural workers, among others. This massive workforce remains outside the purview of the formal banking and insurance industries.
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