Fiscal deficit: Expenditure Management Commission to table report by September end
The Expenditure Management Commission that was set up to suggest measures to rationalise Central government spending is likely to table its first report by the month-end.
Financial Reforms: Debt management agency on the backburner, unlikely this fiscal
Plans to set up a Public Debt Management Agency (PDMA) now seem to have been put on the back burner and senior government officials indicate that it is unlikely to be taken up any time soon.
NPS investment norms: New rules open doors for start-ups, venture, infra funds
In a major boost to start up firms, the guidelines allow for investments in alternate investment funds.
EPFO trustees to review low-cost housing plan
At present, subscribers with less than 12 months of services are eligible to a maximum sum of Rs 1.2 lakh.
CSO working on overhaul of macro-economic indices
CSO is working on an overhaul of key macro-economic indices, including the wholesale price index and the index of industrial production.
Minimum wage not in sync with turf realities
The labour ministry’s proposal to hike minimum wages to Rs 7,100 per month is based on a calculation that estimates prices of pulses at Rs 65 per kilogram, edible oil at Rs 80 per litre and non-vegetarian items at Rs 80 per
Q1 growth likely to be at 7.2-7.5%, miss expectations
Initial indications reveal that growth remains on the same footing as the last quarter, if not lower.
Minimum wages act: With eye on basic wage rate, Centre plans amendments
The government is seeking to significantly boost incomes of the country’s lowest paid workers by substantially raising the minimum wages payable to them.
Government’s insurance scheme: New database to keep track of claim duplications
Till now, the Pradhan Mantri Jeevan Jyoti Bima Yojana has received 1,184 claims while another 284 claims have been filed under the Pradhan Mantri Suraksha Bima Yojana.
PSBs don’t need to go to market in distress: Hasmukh Adhia
Hasmukh Adhia said that the finance ministry is working to strengthen fraud detection processes at PSBs.
Applying for a loan? How to improve your credit score
Efforts are on to expand credit history coverage to include payments of mobile, insurance and utility services bills that can be used for background checks.
Before Narendra Modi’s US visit, govt gives final shape to bilateral investment treaty
The revised bilateral investment treaty seeks to exclude taxation steps, commercial contracts between domestic and foreign firms from arbitration but is likely to have many changes to make it more investor-friendly.
RBI’s monetary policy framework to be flexible on inflation
A slightly relaxed stance on inflation targeting is likely to be kept under the monetary policy framework agreement signed between the finance ministry and the Reserve Bank of India earlier this year.
NIYATAM: NITI Aayog’s push to improve states’ efficiency
Will also work towards rationalising the number of state-level and Centrally-funded schemes.
India, US start talks on totalisation pact
India at present has 14 totalisation pacts with countries including Belgium, Germany and France and has recently also signed a social security agreement with Canada.
Despite oil cushion, low sell-off proceeds could impact deficit
DK Pant, chief economist India Ratings pointed out that the low crude oil prices have given a cushion on the oil subsidy as well as have led to higher collection of excise duty that jumped to Rs 37,545 crore in the first quar
Govt mulls plan to pledge future Provident Fund to pay home loan
The scheme would, however, be available only for low-cost housing and subscribers whose monthly salary is less than Rs 15,000. These workers constitute about 70 per cent of the EPFO’s five crore subscribers.
Strategic stake sales: Ministries asked to line up a list of PSUs
The Union Budget has set a target of Rs 69,500 crore from disinvestment in public sector unit this fiscal.
300 claims for PM Narendra Modi’s insurance plans till now
Nearly three months since they were launched, PM Narendra Modi led government’s new accident and life insurance covers have already received more than 300 claims.
Centre to fix 75% cap to tighten premature Employees’ Provident Fund withdrawals
EPFO also plans to raise the age for withdrawal of up to 90 per cent of the accumulation from the current limit of 54 years to 57 years
New senior health insurance plan with Rs 1 lakh cover in the offing
The government is finalising a new health insurance scheme for those above 60 years, modelled on the lines of the Pradhan Mantri Jan-Dhan Yojana and the Pradhan Mantri Jeevan Bima Yojana.
Centre set for a spending spree
The finance ministry is hopeful that capital spending will witness a significant rise in the current quarter as more projects get approved and Budget announcements are implemented.
Employment exchanges: Job seeking now to get a tech touch with new portal
The National Career Service portal, which is part of the labour ministry’s efforts to revamp employment exchanges, will be launched by Prime Minister Narendra Modi
BRICS bank to start working on staff recruitment, infrastructure
The $100 billion NDB is promoted by Brazil, Russia, India, China, and South Africa for investments in infrastructure in the five nation bloc.
PF claim settlement period brought down to 20 days
Over the past few years, the EPFO has been working to improve its claim settlement period trying to bring it within the mandated one month period.
Narendra Modi’s ambitious Skill India Mission targets 40.2 crore workers by 2022
Skill India mission, which is being launched on the World Youth Skills Day, will also be simultaneously launched by state governments.
FinMin schemes: Infrastructure push planned through NIIF, tax free bonds
Announced as part of the Union Budget 2015-16, the NIIF will have an allocation of Rs 20,000 crore, half of which is expected to come from blue chip public sector units.
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