The full grant of OROP would raise annual military pensions to Rs 75,000 crore, only slightly less than the salary bill of Rs 93,216 crore.
The defence budget was on Thursday increased to Rs 6.21 lakh crore for 2024-25 in a modest hike of 4.72 per cent from last year's allocation of Rs 5.25 lakh crore amid India's continuing border row with China in eastern Ladakh as well as concerns over evolving security situation in the strategic waterways.
Bracing for another agitation by farmers, police are fortifying the Delhi-Uttar Pradesh and Delhi-Haryana borders with barricades and deploying more than 5,000 security personnel, a senior police officer said here on Friday.
The proposal has been discussed by Sebi's Committee on Rationalisation of Financial Resources, which favours setting up such a fund.
After the success of the National Highways Authority of India's (NHAI's) first infrastructure investment trust (InvIT) with foreign institutional investors, the Centre is working on a proposal to launch a fresh InvIT for national highways, where domestic retail investors can hold units of the trust
About one-fourth of the Indian population is without pension coverage and only 13 per cent of the country's paid employees are under formal pension arrangement, a survey has found.
The SR Abhiyan meeting held in Jaipur, Rajasthan to mark the completion of seven years of MGNREGA decided that both pensions and Mahatma Gandhi National Rural Employment Guarantee Act would be made electoral issues and political parties would be asked to take a stand before canvassing during the upcoming state and national elections.
The Congress wants to reinforce the tax more powerfully now after its four generations reaped benefit of the wealth passed on to them, he said.
The committee has termed the Employee Provident Fund Organisation's data on number of pensioners subscribed to the Employee's Pension Scheme, 1995 as 'inflated and imaginary'. Top officials of the labour ministry and the provident fund organisation were unable to explain how calculations for pensionary liability were arrived at without knowing the number of pensioners in the country.
Is it is necessary to play divisive politics to succeed in the next general elections? asks Dr Sudhir Bisht.
All that you wanted to know about the new pension scheme and pension fund managers.
Finance Minister Nirmala Sitharaman on Thursday presented her sixth Budget in a row, equalling the record of former Prime Minister Morarji Desai.
The Supreme Court on Monday said the ministry of defence cannot take law in its own hands by issuing communication on payment of One Rank-One Pension (OROP) arrears in four instalments.
All those years of contributions not adding up to a big reward definitely makes the scheme unappealing.
Six firms have qualified for managing EPFO funds.
A combination of EPF, PPF, NPS along with equities will be a good option.
Farmer leader Sarwan Singh Pandher on Thursday demanded registration of a murder case against those responsible for the death of a protesting farmer at the Khanauri border point of Punjab-Haryana.
The proposed PFRDA bill, aimed at setting up a regulator and manage a new pension system, will not allow pension schemes to invest their money in individual stocks.
Before opting for this scheme, consider how EPS is calculated.
CPPIB, which started investing in the country in 2009, has invested in Kotak Mahindra Bank, L&T Infrastructure Development Projects, online education firm Byju's, energy company ReNew Power, logistics firm Delhivery, among others.
Subscribers to the proposed pension funds will be given Unique Account Number to enable them to deposit their subscription in any collection centre across the country.
A pension disbursing bank can access the portal to get digital life certificate.
The PFRDA is engaged in consolidating the initiatives taken so far regarding the full New Pension System and expanding the reach of distribution network.
The long-awaited Pension Bill to set up a regulator and manage the new pension scheme for government employees is likely to come up before Parliament in the forthcoming session beginning May 10.
'The actions of Indian monetary authorities will depend on how quickly they want the inflation to come down to 4 per cent.'
Populism gains momentum during election periods, and this trend is evident in at least four states: Telangana, Rajasthan, Madhya Pradesh and Chhattisgarh.
The decision is likely to bring additional amount of about Rs 1,500 crore or Rs 15 billion (including interest) in the books of MTNL as refund from government for the pension that the PSU paid to its employees.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
Military veterans are finally set to get their dues following Defence Minister Manohar Parrikar's assertion that the 'One Rank One Pension' scheme is just weeks away from being implemented.
The finance ministry on Tuesday made it clear that there was no move to stop pension to retired central government employees beyond 75 years of age.
The police deployed tear gas and water cannons for a second day to stop the farmers from marching to Delhi.
Finance Minister Jaswant Singh said on Friday interest rates on pension funds needed to be brought in line with declining interest rates in the market.
Seeking to dispel the impression of policy inaction, the government is likely to give a push to pension sector reform by approving changes in the proposed PFRDA Bill so that it can be taken up by Parliament for the passage in the Monsoon session next month.
Global pension funds have started investing aggressively in primary market offers. Till recently, they were not looking beyond some of the largest Indian listed companies.
The finance ministry on Wednesday allowed all private sector banks to participate in government-related business, like collection of taxes. pension payments and small savings schemes. At the moment, only few large private sector are allowed to conduct government-related business.
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