Gadkari had set the same 41 k per day or 15,000 km of highways construction target for the last fiscal, but 8,231 km (22.5 km per day) could be built in 2016-17.
Labour ministry sources blame it on slow implementation and not enough publicity
With the finance ministry pressing for a reduction in the interest rate being paid by the EPFO, labour minister Bandaru Dattatreya has written to finance minister Arun Jaitley
The CBT, the highest decision-making body of the EPFO, is likely to give the go-ahead for a proposal to raise the wage ceiling for mandatory EPF cover to Rs 25,000 a month from Rs 15,000 now for organised-sector workers.
India’s steel sector posted a robust 11% growth in production in 2016-17 at 101.2 MT
National highway (NH) development work totalling a length of 8,512 km is being hampered in Uttar Pradesh mainly due to delays in finalisation of tenders by the state administration and problems in getting construction material such as stone aggregate.
The government will now bear employers’ contribution of 8.33% of basic pay to the Employees’ Pension Scheme (EPS) for new employees under the Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) even if new posts are not created by the firm.
The Nitin Gadkari-led ministry of road transport and highways’ (MoRTH) steps to boost highway construction have yielded results, with the pace of highway construction reaching an all-time high of 23 km a day in 2016-17, up from 16.61 km a day in 2015-16.
The Prime Minister’s Office has told all departments to take stock of projects and programmes and provide a road map up to March 2020.
Consultancy firm M N Dastur said the government’s plan to divest stakes in three units of SAIL and in NMDC’s upcoming 3 mtpa steel plant at Nagarnar.
Sources said that the two proposals are likely to be put up by the ministry for discussion in the Cabinet within a week.
Once the proposed omnibus Labour Code on Security and Welfare (LCSW) comes into force, several age-old schemes – including the provident fund, pension and insurance schemes run under the EPF Act, 1952, and the sickness benefit scheme under the ESIC Act, 1948 – will cease to exist in their present forms.
The finance audit and investment committee (FAIC) of the retirement fund body, which has an annual incremental deposits of around R1,30,000 crore, has already given its go ahead to the proposal.
The Narendra Modi government has drawn up a plan to bring workers of almost all categories — including those in the unorganised sector, the self-employed, part-time and casual workers and those earning below the “minimum wage” — under a…
Enthused by an encouraging response to its first three-month enrollment programme through which over 30 lakh new subscribers joined, retirement fund body Employees’ Provident Fund Organisation (EPFO) will soon extend the programme for…
Market borrowings, envisaged to be the largest source of funds for NHAI, are estimated at R2.1 lakh crore in FY18-FY20 period, up sharply from around R51,000 crore in the previous three years.
Road ministry sources said that the National Highways Authority of India (NHAI) has constructed around 2,350 km of highways during the April-February period, while the remaining was done by the ministry.
While steel secretary Aruna Sharma hinted at regulating iron-ore prices that “move like the Sensex” speaking to a TV channel, the producers of this key raw material for steel-makers have denounced the move as “bogus and foolish.”
The Prime Minister’s Office (PMO) has asked the steel ministry for a status report of the proposed joint venture between state-run SAIL and global steel major ArcelorMittal for automotive steel.
The Modi government will unleash the next set of reforms necessary for improving the ease of doing business by pressing for the passage of the twin codes on wages and industrial relations that form the crux of its agenda for reducing labour market rigidities.
Driven by a policy to extend social security benefits to workers who are currently outside its ambit, the government is considering lowering employers’ liability towards Employees’ Provident Fund (EPF) in the construction sector to 10% of the basic pay from 12% now.
The special package for the textile and garment sector unveiled by the Modi government in June last year hasn’t been a runaway success.
Most of the mega highway projects for which foundation stones have been laid by Prime Minister Narendra Modi since August 2014 have made little or no progress.
The steel ministry will soon seek the Cabinet’s approval for a proposal to make the use of India-made steel mandatory for government-funded and related projects.
All top steel-producing countries, including China and India, reported positive growth in steel production in January leading to an overall 7% spike in global steel production to 136.5 million tonne (mt).
Despite the recent crisis that the domestic steel industry is fast recovering from, its long-term potential is huge and it is more than feasible its capacity would increase dramatically from 120 million tonnes (mt) at present to 300 mt by 2030-31, steel…
Having faced flak for the delays in claim settlements, the Employees’ Provident Fund Organisation (EPFO) has decided to introduce a single-page claim form, instead of current multiple forms for withdrawing funds accumulated with the retirement fund body.