The central government had announced the formation of the 8th Pay Commission (8th Pay Commission Update News) in January 2025. Seven months have passed since then, but the structure of the commission is still incomplete. Neither its members and chairman have been appointed nor the terms of reference (TOR) have been finalized.

This delay has troubled lakhs of government employees and pensioners and they are asking when the pay commission will be implemented and when will they get the benefit of salary hike (Government Employees Salary Hike).

When will the notification be issued

Due to this delay, the restlessness of government employees and pensioners is increasing continuously. Employee organizations and unions have written a letter to the Center demanding the formation of the commission and clarity on the TOR. The Finance Ministry has already said that it has sought suggestions from ministries, states and employee organizations. A notification will be issued after the TOR is prepared on the basis of these suggestions.

Timeline of 7th Pay Commission

If we closely look at the process of formation of 7th Pay Commission and implementation of its recommendations, it took almost 3 years.

• The 7th Pay Commission was announced on 25 September 2013.
• Its TOR was released on 28 February 2014,
• Members appointed on 4 March 2014
• The Commission submitted its report on 19 November 2015.
• After this the government implemented the recommendations on 29 June 2016.

That is, the whole process took about 44 months. On this basis, it is being estimated that the 8th Pay Commission can also be implemented by the end of 2027 or early 2028. At present, employees may have to wait longer.

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This is the government’s objective.

The main objective of the Modi government in providing subsidy to state-owned oil companies is to compensate for the losses incurred by the companies selling LPG at a price lower than the market price. Let us tell you that this relief will be given to the state-owned oil companies Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation. Despite the fluctuations in prices in the international market, all these companies do not change the prices for the customers. This gives a lot of relief to the public.

Know why you can get the benefit of subsidy.

Even amidst the continuously increasing prices, the Modi government is preparing to provide relief to the public. If the companies get the benefit of subsidy, then the inflationary pressure will reduce a little. Let us tell you that the US administration is continuously increasing tariffs on India. It says that India should stop buying oil from Russia.

State-owned oil companies update the prices of LPG cylinders on the first day of every month. Let us tell you that on the first day of this month, the companies had reduced the prices of commercial gas. State-owned oil companies had reduced the price by Rs 33.50. Along with this, the prices of domestic gas cylinders are stable. There has been no change in these prices since April 8.

The new price of commercial gas in the national capital New Delhi has become Rs 1631.50. In the Mayanagari Mumbai, the same cylinder will now be available for Rs 1582.50. Earlier its price was around Rs 1616. Talking about Kolkata, its price has come down to Rs 1734.50.

The post LPG Subsidy Update: Modi Government May Announce Major Decision on LPG Subsidy Today first appeared on Rightsofemployees.com.

It was expected that the government could reduce the interest on small savings schemes but it did not happen. Today, on Monday 30 June 2025, it has been announced that the interest rates of small savings schemes like Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), National Savings Certificate (NSC) and Post Office Fixed Deposit will not be changed.

How much interest will be received on small savings schemes?

The government’s small savings schemes are a good and safe investment option for the common people. This interest will be available on these schemes from 1 July to 30 September.

Post Office Savings Account: 4% interest

1 year Fixed Deposit: 6.9% interest

2 year FD: 7% interest

3 year FD: 7.1% interest

5 year FD: 7.5% interest (highest)

5-year Recurring Deposit (RD): 6.7% interest

Senior Citizen Savings Scheme (SCSS): 8.2% interest

Monthly Income Scheme: 7.4% interest

National Savings Certificate (NSC): 7.7% interest

Public Provident Fund (PPF): 7.1% interest

Sukanya Samriddhi Yojana (SSY): 8.2% interest (best scheme for daughters)

Kisan Vikas Patra (KVP): 7.5% interest, money will double in 115 months.

Were there chances of interest going down?

Most people expected that the government could reduce the interest on small savings schemes. This was because the Reserve Bank of India (RBI) cut the repo rate by a total of 1% since February 2025. The effect of this was that almost all the banks in the country reduced the interest rates on their fixed deposits and savings accounts. In such a situation, everyone was speculating that the government would also reduce the interest rate on small savings schemes, especially schemes like Sukanya Yojana. However, this has not happened. The government has not made any change in the interest on small savings schemes.

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What did the finance minister say

While presenting the general budget on February 1, Union Finance and Corporate Affairs Minister Nirmala Sitharaman announced this. She said that we will launch special customized credit cards with a limit of Rs 5 lakh for micro enterprises registered on the Udyam portal. She further said that 10 lakh cards will be issued in the first year.

How can you register

For this, first visit the Udyam portal- msme.gov.in. Here you have to click on the Quick Links section. After this, you have to register by clicking on Udyam Registration. Here you will get detailed information about the documents required for registration and eligibility. You can register accordingly. There is a credit card facility for registered micro enterprises.

These were also announced in the budget

The credit guarantee cover for micro and small enterprises has been increased from ₹5 crore to ₹10 crore. This will enable additional credit of ₹1.5 lakh crore in five years. At the same time, the guarantee cover for startups will be doubled from ₹10 crore to ₹20 crore with a reduced fee of 1% for loans in 27 priority sectors. Apart from this, exporting MSMEs will benefit from term loans up to ₹20 crore with increased guarantee cover.

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The post Credit Card: Govt will give THESE people a Credit card with a limit of ₹ 5 lakh, Know all Details first appeared on Rightsofemployees.com.

Finance Minister Nirmala Sitharaman made such an announcement in the budget speech that the salaried people have hit the jackpot. She has not only increased the relief of zero income tax to Rs 4 lakh, but has also changed all the income tax slabs.

The Finance Minister has made income up to Rs 12 lakh tax free without worrying about the loss of Rs 1 lakh crore in the government treasury. All these changes have been made in the new tax regime, the old regime has not been touched in any way. Till now, in the new regime, there was zero tax on income up to Rs 3 lakh, now it has been directly increased to Rs 4 lakh.

What will be the new tax slab?

• Zero tax on income up to Rs 4 lakh
• 5 per cent tax on income from Rs 4 to 8 lakh
• 10 per cent tax on income from Rs 8 to 12 lakh
• Only 15 per cent tax on income from Rs 12 to 16 lakh
• 20 per cent tax will be levied on income from Rs 16 to 20 lakh.
• 25 per cent tax will be levied on income from Rs 20 to 24 lakh.
• 30 per cent tax will be levied only on income above Rs 24 lakh.

Who will save how much money?

• Those earning up to Rs 12 lakh will directly benefit by Rs 80 thousand.
• Those earning between Rs 12 to 18 lakh will benefit by Rs 70 thousand, which is a 33 percent profit.
• Those earning up to Rs 25 lakh will benefit by Rs 1.10 lakh, which is a 25 percent profit under the old regime.

The Finance Minister has not only exempted income up to Rs 12 lakh from income tax, but has also maintained the standard deduction of Rs 75,000. In this way, the total tax exemption will be Rs 12.75 lakh. That is, those earning up to Rs 12 lakh 75 thousand will not be charged any tax. You will have to pay tax only on earning more than this and the slab has been reduced in that too .

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The Union Cabinet led by PM Narendra Modi on Wednesday gave a big gift to jute farmers. It has increased the minimum support price (MSP) of raw jute by 6 percent i.e. Rs 315 for the marketing season 2025-26. Now farmers will get Rs 5650 for one quintal of raw jute. Union Commerce and Industry Minister Piyush Goyal has given this information after the cabinet meeting.

Piyush Goyal said that the new MSP ensures a return of 66.8 percent on the all-India weighted average production cost. This will benefit the farmers a lot. The MSP of raw jute was Rs 2,400 per quintal in 2014-15. It has become Rs 5,650 per quintal for the 2025-26 marketing season. This means that during a decade, the government has increased the MSP of raw jute by 2.35 times.

Action in jute company shares
The effect of increasing the MSP of raw jute is also visible in the shares of jute companies. Shares of Ludlow Jute & Specialities Ltd have jumped by more than 4 percent. It was trading at Rs 238.90 with a jump of 4.64 percent on NSE. Cheviot Co Ltd is also associated with the jute industry. Its shares have also jumped by more than 1 percent.

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The new rules and regulations indicate a departure from the traditional ways of providing postal services for the delivery of public-centric services, as well as opening new avenues of employment through the services provided through post offices. The government gave this information in an official statement. The government said, ‘The new rules have been prepared with the goal of ‘Postal Service Public Service’. Its purpose is to simplify the language of the rule and advance the vision of ‘minimum governance, effective government’ and ‘self-reliant India’.

The Department of Posts has initiated legislative reforms and drafted a new law ‘Post Office Act, 2023’ in December last year. This Act came into effect in June this year.

What is special in the new rules

The Post Office Rules, 2024 have been designed to enable the services provided by post offices. This includes opening new avenues for the department and generating employment through the services that can be provided through the post office. It will focus on providing access to the supply of people-centric services even in remote areas in collaboration with public and private entities.

The rules also have future aspects of digital addresses and digital modes of payment of postage or other charges. It recognises government work in respect of issuance of postage stamps including stamps in digital form and enabling provision for grievance redressal.

According to the statement, “To take this initiative forward, a new set of subordinate laws i.e. Post Office Rules, 2024 and Post Office Regulations, 2024 have also been prepared under the Post Office Act, 2023. The Government of India has notified the subordinate laws through the official gazette and these have come into effect from December 16, 2024.

The statement said that these rules do not contain punitive provisions. The Post Office Regulations, 2024 cover the details and operational aspects of the products and services offered by the post office across the country and also include enabling provisions for insurance and financial services offered through the post office network.

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The post Post Office’s New Rules: Government notified new rules under post office act. Details Here first appeared on Rightsofemployees.com.

Currently, the salary limit required for employees to join the Provident Fund (EPF) scheme is Rs 15000 per month. Which can now be increased to Rs 30000 per month.

As of now, the salary limit under EPFO ​​is Rs 15,000 per month and under ESIC, this limit is Rs 21,000 per month. According to government sources, there is a plan to increase the limits of both these schemes to Rs 30,000 per month. With this step, more than 1 crore employees will come under the ambit of social security.

Final decision in February

Apart from this, there is a plan to make the salary limit under ESIC equal to that of EPF. Increasing the salary limit was discussed in the meeting of the Central Board of Trustees (CBT) of EPFO ​​on Saturday. A source said that the final decision will be taken in the February meeting, but most of the members and the Ministry of Labor are in favor of doubling this salary limit.

Salary limit means that after this contribution to EPF and ESIC becomes mandatory. The employees’ contribution is deducted from the salary and deposited in EPFO ​​and ESIC and the employer also has to make the same contribution.

What will be the benefit to the employees?

Under EPF, both the employee and the employer contribute 12%. After the limit of Rs 30,000 is reached, this contribution will increase to Rs 3600 per month. The advantage of this will be that the lump sum amount and pension of the employees will increase at the time of retirement.

Trade Union Coordination Centre (TUCC) says that in metros like Delhi, monthly salary of housekeeping, driver, security guard etc. is around Rs 20,000, hence it is necessary to increase the salary limit so that they can also get the benefit of social security.

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Modi government may double the monthly salary limit to Rs 30,000 per month. The government may soon increase the salary limit to compulsorily include workers under the Employees’ Provident Fund (EPF) and Employees’ State Insurance Corporation (ESIC) schemes. There is also a plan to bring the salary limit under the Employees’ State Insurance Corporation at par with EPF. Recently, both these issues were discussed in detail in the meeting of the Central Board of Trustees (CBT), the apex decision making body of the Employees’ Provident Fund Organization, on Saturday.

At present, the salary limit for joining under EPFO ​​is Rs 15,000 per month and Rs 21,000 under ESIC. Official sources told Business Standard that the limit is likely to be increased to Rs 30,000 per month for both the schemes.

The final decision may be taken in the February meeting

The issue of increasing the wage ceiling was discussed in the meeting of the EPFO’s Central Board of Trustees (CBT) held on Saturday. A source involved in the meeting said, “A final decision is expected in the CBT meeting in February, but most members and the Labour Ministry are in favour of doubling the current ceiling.”

Wage ceiling under EPF and ESI refers to the wage ceiling upto which EPF and ESI contribution is mandatory under the law. The amount of ’employee’s contribution’ for EPF and ESI is to be deducted by the employer from the wages of the employees and deposited in EPFO ​​and ESIC. Employers have to deposit an amount equal to the contribution.

What will be the benefit of this change

As per the current rules, employees earning more than Rs 15,000 have the option to opt out of EPF coverage. If this limit is increased to Rs 15,000, the number of contributors will increase.

Currently, there are 7 crore active members under EPFO. The current salary limit for EPFO ​​is fixed at Rs 15,000 per month, which was revised from Rs 6,500 in 2014. Under EPFO, both the employee and the employer contribute 12-12% to the EPF account for employees earning a monthly salary of Rs 15,000 or less.

The entire employee’s contribution goes into the PF account, but the employer’s contribution is divided into two parts. 8.33% is allocated to the Employees’ Pension Scheme (EPS) and the remaining 3.67% goes to the Provident Fund account.

Then how much will be deposited in PF

Currently, the EPF contribution of an employee with a basic salary of Rs 15,000 comes to Rs 1,800 per month, but suppose, if this salary limit is revised to Rs 30,000 then this contribution will increase to Rs 3,600 per month on a mandatory basis.

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Companies have not made any change in the prices of 14.2 kg domestic cylinder, but the 19 kg commercial cylinder has become costlier by Rs 50. Before festivals like Navratri, Dussehra, Diwali, expensive cylinders are going to trouble people. According to the IOCL website, new rates have come into effect from today, 1 October 2024.

LPG cylinder became costlier by Rs 39 – New gas prices from October 1, 2024

Today is the first day of the month of October. The prices of LPG cylinders are fixed on the first of every month. Oil marketing companies have increased the price of 19 kg commercial cylinder by Rs 50 from today. In Delhi, the price of the cylinder has become Rs 1740, which was earlier Rs 1691. In Kolkata, the cylinder will be available for Rs 1850.50, which was earlier available for Rs 1802. In Mumbai, the cylinder will be available for Rs 1692.50, which was earlier available for Rs 1644. In Chennai, the cylinder will be available for Rs 1903, which was earlier available for Rs 1855.

Domestic 14 kg cylinder price – LPG cylinder rates on 1 October

There has been no change in the prices of 14.2 kg domestic gas cylinders. The prices of 14 kg LPG remain the same as the rates of August 1. It is available in Delhi for ₹ 803, in Kolkata for ₹ 829, in Mumbai for ₹ 802.50 and in Chennai for ₹ 818.50. For general customers, its price in Delhi remains Rs 803, while for Ujjwala beneficiaries, its price is Rs 603. The government had reduced the rate of 14 kg cylinder by about Rs 100 in August 2023.

On October 1, 2024, the price of commercial gas cylinder has increased by Rs 50.On October 1, 2024, the price of commercial gas cylinder has increased by Rs 50.

This was the rate of commercial cylinder on 1 September and 1 August

In September, the price was Rs 1691 in Delhi, Rs 1802 in Kolkata, Rs 1644 in Mumbai and Rs 1855 in Chennai. On August 1, the price of 19 kg commercial cylinder was Rs 1652.50 in Delhi. The cylinder was available for Rs 1764.50 in Kolkata, Rs 1605 in Mumbai and Rs 1817 in Chennai.

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Sukanya Samriddhi Yojna: Do you also have an account in the old Sukanya Samriddhi Yojna? You should know that the Modi government can close your Sukanya Samriddhi Yojna (SSY) account. It would be better if you do this work before 1st October, or else the government will close the SSY account. The government has recently changed the rules related to Sukanya Samriddhi Yojna.

The Department of Economic Affairs has recently issued new guidelines to regularize irregularly opened savings accounts under NSS. Here we are telling you which are the irregular accounts according to the government. To regularize these accounts, this work will have to be completed before 1st October.

Modi government changed the rules of Sukanya Samridhi Yojana

The government has issued new rules for Sukanya Samriddhi Yojana (SSY). These rules will come into effect from October 1, 2024. The government is asking people to correct the mistakes related to the account in time. So that any kind of trouble can be avoided in the future.

Have your grandparents opened Sukanya Samriddhi Yojana?

According to the guidelines, if grandparents have opened an account under Sukanya Samriddhi Yojana, then it needs to be corrected. According to the new rules, if the accounts opened under Sukanya Samriddhi Yojana are not opened by the legal guardian or natural parents, then they will now have to be transferred to the name of the guardian to follow the basic guidelines of the scheme. This is now mandatory. Earlier, grandparents often opened SSY accounts for their granddaughters as financial security. However, according to the guidelines of the scheme, only the legal guardian or natural parents can open and close these accounts.

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These documents will be required to close or transfer the old account

Basic Account Passbook: Which contains all the account details.

Birth Certificate of Girl Child: Proof of age and relationship.

Proof of relationship with the girl: Birth certificate or other legal documents that establish the relationship.

Proof of identity of the new guardian : Government-issued identification card of the parent or guardian.

Application Form : This will be available at the post office or bank where the account is opened.

After the documents, first of all they have to go to the post office or bank where the account was opened. They have to tell the officials about the need to transfer the account to the parents as per the new guidelines. After this, they have to fill the transfer form given by the bank or post office. Both the existing account holder (grandparents) and the new guardian (parents) have to sign this form.

Verification and updates

After submitting the form and supporting documents, the bank or post office staff will review the request and process the verification. If necessary, they may also ask for additional information. After the verification is complete, the account records will be updated with the information of the new guardian. Sukanya Samriddhi Yojana account holders must do this work before Tuesday 1 October 2024. Otherwise, the government can close your account.

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Regarding this, Shiv Gopal Mishra said, not only railway employees but 23 central employees will get the benefit of UPS (UPS Benefits for Employees). Eight lakh railway employees are also included in this.

Difference between OPS and NPS

The basic difference between the old pension scheme and the new pension scheme is that OPS was non-contributory and NPS is contributory. In this, 10 percent of the employee’s contribution will also be deducted, this was deducted earlier as well, but it used to be returned with interest.

He further said that the government has changed the policy and the way the policy has been changed, many people are satisfied that at least they will not be forced to ask for money at the time of retirement and will not have to beg in front of anyone. They will be able to manage their living through pension.

Now employees will get assured pension

Shiv Gopal Mishra said that the pension being given earlier was not in the interest of government employees. In this, people were being given Rs 800, 1200 and 1500 in the name of pension. But now the employees will be given a guaranteed pension. They will also be given dearness relief. The provisions brought in OPS are going to give relief to the employees.

He said that there was a discussion with Prime Minister Narendra Modi on this issue. He reiterated the resolve to develop India. We have also asked for full cooperation of the employees in achieving this goal.

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Let us tell you that about 23 lakh employees of the Central Government will benefit from this scheme. State governments will also be given the option to choose the Integrated Pension Scheme. If the state governments opt for UPS, the number of beneficiaries will be around 90 lakh.

According to the government, the arrears will cost Rs 800 crore. The annual cost escalation in the first year will be around Rs 6,250 crore. This scheme will be effective from April 1, 2025.

You will get a chance to choose either UPS or NPS

Central government employees will be given the option to choose between NPS and UPS. Central government employees who choose NPS will also be given the option to switch to UPS.

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This has been identified as the Unified Pension Scheme (UPS). Now there are many questions in the minds of central employees, let us answer those questions sequentially.

What is Unified Pension Scheme (UPS)?

Under this scheme, government employees will now be entitled to get 50 percent of the average basic salary received in the last 12 months before retirement as pension. The minimum service period for getting 50 percent of the salary as pension should be 25 years. However, pension will be given proportionately for a minimum service period of up to 10 years.

Who is the scheme for?

The National Pension System (NPS) is applicable to all central government employees who joined service after April 1, 2004. All the employees who joined service after 2004 and have retired or will retire by April 1, 2025 will also get the opportunity to choose this option. This pension scheme provides benefits based on contributions instead of the defined benefit applicable to employees before NPS.

How is it different from NPS?

The employees’ contribution for UPS has been kept at the same rate as the current system of NPS at 10 percent, while the government has decided to increase its contribution from 14 percent to 18.5 percent. Along with this, Dearness Relief (DR) will be given at the same rate at which dearness allowance is given. In this way, half of the total salary pension will be given in UPS in proportion to the pension received under the old pension scheme.

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This pension scheme also has provisions for family pension, guaranteed minimum pension and lump sum payment after retirement. However, all these features are not available in NPS.

When will it be implemented?

The new scheme is effective from April 1, 2025. As soon as it is implemented, NPS account holders can opt for the Unified Pension Scheme i.e. UPS. By implementing UPS, the government will have to spend about Rs 800 crore in the current financial year as arrears, while about Rs 6250 crore will be spent for UPS.

What about family pension?

Similarly, if a pensioner dies, his family will get 60 percent of the pension received by the deceased at the time of death. DR of 60 percent will also be given on this. If someone leaves the job after working for a minimum of 10 years, then he will get a minimum pension of ten thousand rupees. Those who have worked for more years will get more pension in the same proportion.

What about gratuity?

Under UPS, apart from the gratuity amount, another lump sum amount will be given on retirement. This amount will be given on retirement by adding 10th part of the monthly salary (salary DA) for every six months of service.

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The post NPS or UPS: Which pension scheme is better for central employees, Understand here first appeared on Rightsofemployees.com.

Employee unions have also talked to the government about this. However, no confirmation has been made about this yet. Based on some media reports, it is expected that the Eighth Pay Commission may be ready by January 1, 2026.

The new pay commission is expected to be implemented from January 2026

Let us tell you that a new pay commission is constituted by the central government after every 10 years. The salary structure of government employees is changed on the basis of the advice of the commission. The current Seventh Pay Commission was implemented on January 1, 2016. Accordingly, the next pay commission is expected to be implemented exactly 10 years later, i.e. from January 1, 2026. If the government implements it from January 2026, then it will be necessary to form a commission for this.

What was the change in the Seventh Pay Commission?

The Government Employee Union had demanded to use a special method to increase the fitment factor to 3.68 for salary increase. But the government has decided to make it 2.57. Fitment factor is a method of calculation, salary and pension are calculated. After this decision, the lowest salary of Rs 7000 in the Sixth Pay Commission was increased to Rs 18000. Similarly, the lowest pension was increased from Rs 3500 to Rs 9000. The highest salary became Rs 2,50,000 and the highest pension became Rs 1,25,000.

What is expected in the Eighth Pay Commission?

According to the news published in Financial Express, the fitment factor can be kept at 1.92 to increase the salary of employees in the Eighth Pay Commission. If this happens, the minimum salary will increase to Rs 34,560. Similarly, those who have retired will also get more pension than before. It can increase to Rs 17,280.

What is the fitment factor?

The fitment factor is a calculation that is used to calculate the salary and pension of government employees. In simple words, it is a number by which the basic salary of the employee increases when multiplied. Similarly, his total salary is also decided. When a new pay commission is formed, then there is a change in this factor. Due to this change, the basic salary of the employees increases and their other allowances also increase.

The post 8th Pay Commission: Good news! When will the Modi government implement the 8th Pay Commission? first appeared on Rightsofemployees.com.

Nirmala Sitharaman will present the budget on 23 July 2024 at 11 am. Government employees have special expectations from the budget. Government employees will now have to see whether the government will make an announcement in Budget 2024 regarding increasing the fitment factor, bringing the 8th Pay Commission and DA arrears of 18 months or not?

Fitment Factor

While presenting the budget, Finance Minister Nirmala Sitharaman can announce a salary hike for central employees. Government employees have been demanding salary revision for a long time. Discussions have been held several times with the government employees’ association in this matter. If the government decides to increase the fitment factor in the budget, the minimum basic salary of employees will increase from Rs 18,000 to Rs 26,000.

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Will it make an announcement regarding the 8th Pay Commission?

The government has received a proposal from employee organizations to bring the 8th Pay Commission. It is believed that the government can accept it. If this happens, the government can announce it in the budget. If the government does this, the salary of government employees working on small posts will also increase.

18 months DA arrears?

The central government used to increase the DA of central employees twice a year in January and July, but during the time of Covid, the government did not increase any dearness allowance from January 2020 to June 2021. After this, the government directly increased the dearness allowance by 11 percent on July 1, 2021. Nothing was said about the DA which was not increased three times before that.

However, then the dearness allowance was 17 percent, which was increased by 11 percent to 28 percent. Since then, central employees are expecting to get this 18 months’ DA arrears from the government. However, the government has said many times that it has no intention of giving the pending arrears of 18 months.

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The central government has seen a lot of focus on Indian Railways. In such a situation, it is expected that the central government can increase the allocation of railways. Now it has to be seen whether the government fulfills the long pending demand of senior citizens in the budget or not? Senior citizens used to get 50 percent discount on railway tickets before Kovid, but it was stopped during Kovid. Will the Modi government, which has come to power for the third time, announce 50 percent discount on train tickets to senior citizens again?

Senior citizens used to get 50% discount on train tickets till the end of 2019

IRCTC used to offer concessional fares on train tickets of Duronto, Shatabdi, Jan Shatabdi, Rajdhani, Mail and Express trains to senior citizens above 60 years of age and female senior citizens above 58 years of age until the end of 2019. While male senior citizens were eligible for a 40 percent concession, female senior citizens could avail a 50 percent discount on train tickets. IRCTC then offered concessional fares for senior citizens in all categories of special express trains.

Also Read: Bank Holiday: Will banks be closed today on Saturday? Check RBI’s list of holidays

Will senior citizens get discount on train tickets again?

Till the end of 2019, senior citizens were getting 40 to 50 percent discount on the price of train tickets. If the first AC ticket of Rajdhani is Rs 4,000, then senior citizens used to get it for Rs 2,000 or Rs 2,300. Then in the end of 2019 and the beginning of 2020, Covid spread across the country and the whole world, after which this service stopped being available on IRCTC’s ticket booking window. Now senior citizens are demanding that they will get this special discount again in the budget. It is believed that Finance Minister Nirmala Sitharaman can make an announcement about this in the budget.

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After the Modi government came to power for the third consecutive time, the expectations of individual taxpayers have increased significantly from the full budget to be presented on July 23, 2024. This time the budget is expected to focus on the middle class. In this budget, it is expected that many big announcements can be made by the government to provide relief to the National Pension Scheme (NPS) members. In this budget, the tax exemption limit on NPS contribution can be increased to 12 percent, currently it is 10 percent.

Benefit of deduction under the old regime

Investment in NPS (National Pension Scheme) gets the benefit of deduction of income tax under the old regime. It is a saving scheme run by the government to provide security in old age. It is regulated by the Pension Fund Regulatory and Development Authority (PFRDA). The money deposited in it and the interest received on it is tax free. But a little tax is levied while withdrawing the money. Now PFRDA has recommended increasing the tax exemption. The regulator says that in terms of tax, there should be equal opportunities for companies and employers contributing to NPS just like EPFO, right now there is inequality in it.

Also Read: Bank Holiday: Banks will remain closed in this state of the country today, check the list of RBI holidays

Facility to deposit up to 10% of salary

Under NPS (National Pension Scheme), salaried class people can deposit up to 10% of their salary. Businessmen can deposit up to 20% of their total earnings. This is a benefit available under section 80CCD(1) of the Income Tax Act. In the old tax regime, this can be clubbed with the limit of Rs 1.5 lakh available under section 80C. If you are in the old tax regime, you can additionally avail deduction of up to Rs 50,000 on the amount voluntarily deposited in NPS. This is available under section 80CCD(1B) of the Income Tax Act.

Two benefits of increasing the limit of NPS

In Budget 2024, the additional deduction of up to Rs 50,000 that salaried taxpayers get for voluntary contribution to NPS is available only under the old tax regime. It is expected that the government will implement this deduction in the new tax system as well. There will be two benefits of this. First, taxpayers will be able to get the benefit of additional deduction even in the new tax regime. Second, along with the new tax regime, there will be more investment in retirement schemes as well.

If the contribution increases, the in-hand salary will be less!

Currently, deduction regarding employer’s contribution (maximum 10%) is given under both the old and new tax regimes. The government can consider increasing this limit to 12%. If this happens, it will be like a discount of up to 12% in PF contribution. This can benefit all salaried class taxpayers. However, due to increase in employer’s contribution, the amount of salary received by the employee may be less. Efforts are now being made to make the new tax regime the preferred tax regime. In this, you get a lower tax rate, but for this you have to give up the exemptions on some things.

Apart from this, the government can consider increasing the limit of standard deduction of Rs 50,000 available under the new tax regime to Rs 75,000. This will benefit the salaried class, irrespective of which tax regime they have selected. In view of inflation and rising prices, it can be implemented by the government in Budget 2024. To make the new tax regime more attractive, the government can consider some changes.

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In an order, the Department of Personnel and Training (DOPT) asked the concerned ministries to direct the Public Sector Undertakings (PSUs), banks, autonomous institutions and statutory bodies under their administrative control to review the employees. The order said that the performance of government employees should be used to find out whether their work is correct or not. If they are not working in the interest of the country, then they should be retired before time.

This order has been issued to the secretaries of all central government departments. It has been said that the administrative ministries and departments should follow this and submit its report to DoPT as soon as possible. The instruction said, it has been found that the rules are not being followed in the departments of some ministries. This is causing delay in identifying government employees for review under the relevant provisions of Fundamental Rules (FR)-56 (J) / (I) and Rule 48 of Central Civil Services or CCS (Pension) Rules (now, amended as Rule 42 of CCS (Pension) Rules, 2021).

Also Read: EPS Withdrawal Rules: Rules for withdrawing money from EPS changed, check rule immediately

These rules determine the policy for review of government employees and their compulsory retirement. This speeds up the government work. DoPT said in its order dated June 27, ministries/departments have been asked to immediately identify the employees for review under the relevant provisions of the basic/pension rules. These employees should be reviewed and the report should be shared immediately. Accordingly, all ministries and departments have been asked to submit the report by the 15th of every month from July.

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Modi government can give good news to crores of taxpayers in its third term. The government can increase the limit of 80C from Rs 1.50 to Rs 3 lakh. Many taxpayers choose section 80C as their preferred tax saving option. Under Section 80C of the Income Tax Act 1961, if individuals opt for the old tax regime, they can avail a maximum deduction of Rs 1.5 lakh for the financial year 2024-25. Those who opt for the new tax regime are not eligible to avail this deduction.

The limit was increased in the year 2014

In 2014, the then Finance Minister Arun Jaitley increased the 80C benefit limit to Rs 1.5 lakh per annum. This change was one of the major forms of relief given by the government in its first budget. However, there has been no change in the 80C limit since then. This marks a decade since the last increase in 2014. Every year many taxpayers hope that the Finance Minister will increase the Section 80C limit in the Union Budget 2024. Many believe that the 80C limit has not increased in line with income and costs. Due to this difference, many taxpayers use the entire 80C limit to save tax.

Also Read: Top 10 countries with the most ultra wealthy individuals

What is the benefit of Section 80C?

The maximum tax deduction allowed to taxpayers under Section 80C is Rs 1.5 lakh. However, taxpayers can invest in one or more savings schemes to save tax. Deductions under Section 80C are available only to individuals and Hindu Undivided Families (HUFs). Taxpayers can claim deductions for investments in savings schemes or for payments of investments and expenses falling under the 80C category.

Why should the Section 80C limit be increased?

A person’s taxable income is calculated by deducting the 80C deduction from his total income. Any change in the Section 80C deduction limit directly affects a person’s taxable income. Taxpayers will get the direct benefit of this. The cost of many people has increased. Salaries have increased, but the benefits of Section 80C have not kept pace. Due to this, many people take full advantage of 80C. That is why increasing the limit in Section 80C is always the first priority for taxpayers before the budget every year.

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Worrying news is coming out for those who reach office late. The central government has clearly said that those who come to office more than 15 minutes late will not be forgiven. They should be ready to face action. Employees across the country have been instructed to be present in the office by 9.15 am and register their attendance. Apart from this, all employees including senior officers have also been asked to use the biometric system. Let us tell you that its use was stopped after the corona infection.

The Central Government’s Department of Personnel and Training (DoPT) has decided to waive lateness of up to 15 minutes. Employees have been warned that if they do not come to office by 9.15 am, their half-day casual leave will be deducted.

Also Read: Union Budget 2024: Modi Govt is considering income tax cuts to boost consumption

The order issued for government employees said, “If due to any reason the employees are unable to attend the office on a particular day, they will have to inform about it. They will have to apply for casual leave.”

Central government offices are open from 9 am to 5.30 pm, but it is common for junior level employees to come late and leave early. Senior officials say that there is no fixed office time. We also take work home. They usually leave after 7 pm. Apart from this, they argue that after Covid, people often work from home on holidays or weekends on electronic files.

After coming to power in 2014, the Modi government had demanded the implementation of office timings. Employees had opposed this. Some had argued that they travel long distances. Aadhaar based biometric system was installed to ensure that officers and employees come to office on time. Many senior officers had installed biometric devices on their desks to avoid standing in queues to mark their attendance.

Now the government seems to be in action again. Orders have been issued to reinstate the biometric system.

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According to information received from sources, the new government can now start discussions about the 8th pay commission. However, there is no timeline for this. But, it can be discussed soon. It is expected that by next year the Modi government can make a big announcement for the central employees.

8th Pay Commission: Preparation for the next pay commission

There can be a big increase in the minimum salary of central employees. Next year, the central government can give this gift to its employees. Till now, the discussion was that the 8th Pay Commission will not come. But, now it is expected that preparations for the next Pay Commission will begin.

Also Read: The share prices of these government companies increased again

However, the government has not yet agreed that it will bring the next Pay Commission. Government sources say that the discussion on this will begin in a new way in the new government. Discussion on this is also possible in the monsoon session. Discussion on the next Pay Commission is possible after the continuous demand of the employees.

8th Pay Commission: There will be a huge jump in salary

If sources are to be believed, the biggest increase in the salary of employees can be seen in the 8th Pay Commission. Sources also say that it is difficult to say what will come in the new pay commission and what will not. The question is also whether any planning commission will be formed regarding this or the Finance Ministry will also fulfill this responsibility. It is expected that a committee can be formed in the next two months. Only after this, something can be decided regarding the formula for increment in the salary of employees.

When can the 8th Pay Commission come?

If sources are to be believed, the 8th Pay Commission should be formed in the year 2025. At the same time, it can be implemented within a year of that. According to experts, if this happens, there is a possibility of a huge jump in the salary of central government employees. Many changes are possible in the 8th Pay Commission as compared to the 7th Pay Commission. There may also be some changes regarding the fitment factor. Let us tell you, till now the government used to form a pay commission once in 10 years.

8th Pay Commission: How much will the salary increase?

If everything goes well in the 8th Pay Commission as compared to the 7th Pay Commission, the biggest jump in the salary of the employees is expected. The fitment factor of the employees will increase to 3.68 times. Also, whatever the formula, the basic salary of the employees can increase by 44.44%.

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After the support received from Nitish Kumar and Chandra Babu Naidu, one thing has become clear that Narendra Modi is going to be the next Prime Minister of the country. The effect of this update is also being seen in the stock markets. Today, the Nifty PSU Bank Index has seen a rise of 4.4 percent. Earlier yesterday, i.e. on June 5, the Nifty PSU Bank Index had also registered a jump of 2.5 percent. Let us tell you, earlier on Tuesday, on the day of election results, the Nifty PSU Bank Index had fallen by 15 percent.

Shares rose more than 5%

Today all PSU banks are trading in the green. Shares of Indian Overseas Bank, CBI, Union Bank of India and Bank of Maharashtra have seen a rise of more than 5 percent. At the same time, the share prices of Indian Bank, SBI, Bank of Baroda, Punjab and Sind Bank, UCO Bank have increased by 4 to 5 percent. Shares of Canara Bank, Bank of India, Punjab National Bank have seen a rise of 3 percent.

Also Read: Fixed Deposit: These 3 banks are offering special FD scheme, you will get 8% interest

Great return of 72 percent in 1 year

During the last one year, the Nifty PSU Bank Index has seen a rise of 72 percent. At the same time, this index has been successful in giving a return of 28 percent so far in 2024. In May, this index saw a decline of 2.9 percent. Whereas before that the Nifty PSU index was successful in giving positive returns for 6 consecutive months. Let us tell you, there has been a rise of 8.5 percent in April, 1 percent in March, 10.5 percent in February and 9.8 percent in January.

The reason behind the recovery in the PSU Bank Index is believed to be the return of the NDA government. The PSU Bank Index gave excellent returns during the second term of the Modi government.

(This is not an investment advice. The stock market is subject to risks. Please seek expert advice before making any investment.)

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EPFO: PM Modi has given good news to crores of people. Are you also waiting for interest to come in your provident fund account? EPFO has said that it has transferred the interest in the EPF account. EPFO said that they have transferred the interest money to 28 crore accounts. In February 2024, the Employees’ Provident Fund Organization (EPFO) has announced the interest rate for the Provident Fund for the financial year 2023-24. EPFO has increased the interest rate for 2023-24 from last year’s 8.15% to 8.25%. Here we are telling you to whose account EPFO has transferred the EPF interest money.

Interest money transferred to EPF account

The interest for the financial year 2022-23 has been transferred to the accounts of 28.17 crore members of EPFO by March 2024. PM Modi government has given a gift to crores of people.

Dear member, the interest for Financial Year 2022-23 has been provided to 28.17 crore members accounts of EPFO as on date. Member may please check their EPF passbook. https://t.co/wiDrR4mCxw

— EPFO (@socialepfo) March 14, 2024

When will interest be credited to EPF account for FY24?

Many EPF members are curious to know when they will get the EPF interest for the financial year 2023-24. EPF has stated this in response to a member’s question on social media platform X. EPFO has written that the process is in the pipeline and soon it will be visible in your account. Whenever interest is credited, it will be credited and full payment will be made. There will be no loss of interest.

How to check balance

How to check your EPF balance online

• Through EPFO member passbook portal
• Visit the official EPFO Member Passbook portal.
• Enter your UAN and password to sign in.
• Select the PF account you want to view.
• Click on View PF Passbook for all transactions. Here you will get the balance.

Umang App:

Umang App is a unified mobile application of new-age governance launched by the Government of India. There are many apps related to the needs of common people which you can use.

Step 1: First install UMANG app.

Step 2: Open the app and go to EPFO.

Step 3: Enter your UAN and password to sign in.

Step 4: Then you will be able to see your EPF balance and other information.

There are also some offline methods to check your EPF balance.

SMS: If your Universal Account Number (UAN) is linked to a registered mobile phone number, you can send an SMS to 7738299899. Here you can also choose your language. Within a few seconds of sending the message, you will get your current EPF balance information through SMS.

Missed Call: If your Universal Account Number (UAN) is linked to a registered mobile number, you can give a missed call to 011-22901406. After which the call will be disconnected automatically and you will get your EPF information through SMS.

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There is great news for LIC employees. Modi government has approved 17% increase in the basic salary of LIC employees. This will directly benefit about 1 lakh employees and about 30,000 pensioners.

According to the report, this increase, effective from August, will cost the company Rs 4,000 crore annually. On March 15, LIC shares closed down 3.4 per cent at Rs 926 on the BSE.

DA has been increased by 4%

Let us tell you that this increase has come after the recent increase in Dearness Allowance (DA) by 50 percent by the government. Dearness allowance of central government employees has increased by 4%. Let us tell you that according to the recommendations of the 7th Pay Commission,

with this increase, there is sure to be an increase in the take-home salary package of the central government employees. According to the recommendations of the Seventh Pay Commission, cities have been divided into three categories for HRA increase. These categories are- X,Y & Z.

If an X category employee lives in cities/towns, his HRA will increase to 30 percent. Similarly, the HRA rate for Y category will be 20 percent and for Z category it will be 10 percent. Currently, employees living in cities/towns X, Y & Z get 27, 18 and 9 percent HRA respectively.

December quarter results

Last month, LIC reported a 49 per cent rise in net profit to Rs 9,444 crore for the third quarter ending December 2023 (Q3FY24). The country’s largest insurance company had reported a net profit of Rs 6,334 crore in the same period a year ago. Its net premium income increased to Rs 1,17,017 crore in the third quarter of the current financial year, from Rs 1,11,788 crore in the same period a year ago.

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Giving a big gift to PF account holders, Employees Provident Fund Organization (EPFO) on Saturday announced increase in interest rates, it has now been increased to 8.25 percent. After the increase in interest on PF in the election year, now an increase in Dearness Allowance (DA Hike) is being expected soon.

If reports are to be believed, the government may take a major decision on this in March 2024. If this happens, then the DA given to central employees will be 50 percent.

Interest on PF increased, expectation of DA increased

The Central Board of Trustees (CBT) of EPFO has announced the new interest rate for the Employees Provident Fund (EPF) account for the financial year 2023-24. EPFO has given a gift to about 7 crore employees of the country and has increased it to 8.25 percent.

According to PTI, PF account holders will now get 0.10 percent more interest than before. On March 28 last year, EPFO had announced an interest rate of 8.15 percent for Employees Provident Fund (EPF) accounts for 2022-23. With the increase in PF interest rate, the expectation of DA hike has also increased among the central employees.

4% DA hike expected in March

The government increases the dearness allowance of employees twice a year and the DA Hike for the January-June half year is expected to be announced in March 2024. If reports are to be believed, this time the government can give a gift of 4 percent DA Hike to the central employees before the elections and it can be announced next month.

Let us tell you here that this expectation is being expressed on the basis of various reports, whereas no official comment has been made by the government in this regard yet. But if there is an increase of 4 percent in DA, then there will be a bumper increase in the salary of the employees. At present the DA of central employees is 46 percent, which can be increased to 50 percent.

Along with DA, increase in HRA is also possible

On one hand, a 4 percent increase in dearness allowance of central employees is being expected and if this happens, then the employees will get its benefit from January 1, 2024. Along with this, when the dearness allowance reaches 50 percent, there may also be an increase in the house rent allowance given to the employees.

In the month of July 2021, when DA crossed 25 percent, an increase of 3 percent was seen in HRA and it was increased to 27 percent. In such a situation, HRA hike is once again expected when DA is 50 percent and if reports are to be believed, it can be increased to 30 percent.

Revision is done twice a year

The government revises the dearness allowance given to central employees twice a year. The benefits of which are given to them from 1st January and 1st July. Talking about its calculation, Dearness Allowance or DA is an important part of the salary of the employees and the increase in it has a direct impact on the salary received by the employees. It is determined on the basis of inflation rate.

The higher the inflation, the higher the increase in DA of employees is expected. All India CPI-IW for December 2023 declined by 0.3 points to 138.8. On this basis, it is being estimated that the government may increase DA by 4 percent.

If DA is increased, salary will increase by this much

If we look at the salary hike calculation of central employees after DA Hike, if a central employee gets a basic pay of Rs 18,000, then the dearness allowance of the employee is currently Rs 8,280 at the rate of 46 per cent, whereas after an increase of 4 per cent in it, If calculated according to 50 percent, it will increase to Rs 9,000. That means, there will be a direct increase of Rs 720 in his salary.

If we calculate it on the basis of maximum basic pay, then an employee getting Rs 56,900 gets DA of Rs 26,174 at the rate of 46 per cent, if it is 50 per cent then the figure will become Rs 28,450. That means the salary will increase by Rs 2,276.

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After the death of a government employee, the first person to receive family pension was the spouse. After that it was the children’s turn to get family pension. The Ministry of Personnel, Public Grievances and Pensions said that as per the existing provisions of Rule 50 (8) and Sub-Rule (9) of the CCS (Pension) Rules, 2021, if the spouse of a deceased Government servant or pensioner is in the family.

If so, then family pension is given to the husband or wife first. Only after the spouse of the deceased government employee or pensioner is ineligible for family pension or after his death, the children and other members of the family are entitled for family pension.

The Department of Pension and Pensioners’ Welfare received a large number of references from Ministries/Departments seeking advice whether due to marital discord or in the event of a divorce petition being filed in the Court or under the Protection of Women from Domestic Violence Act, dowry.

In the event of a case being registered under the Prohibition Act or the Indian Penal Code, can a Government servant woman pensioner be allowed to nominate her child or children for family pension in place of her husband or husband? After this question was raised, after inter-ministerial consultation, it was decided that if the divorce proceedings of a government female employee or a female pensioner are pending in the court, or the government female employee or a female pensioner has suffered domestic violence against her husband.

A case has been registered under the Women’s Protection Act or Dowry Prohibition Act or the Indian Penal Code. So such a government female employee or pensioner can request to give preference to her husband for giving family pension to her eligible child or children after her death.

In such cases, the government has made rules to give preference to children in giving family pension. In case the divorce case of a Government employee-pensioner is pending in the court or the Government employee-pensioner has filed a case against her husband for domestic violence or under Dowry Act or IPC, then such women can make a request to the Head of Office That in the event of his death during the pendency of the proceedings, his children should be given preference in grant of family pension before his spouse.

If the female employee or pensioner who made this request dies, then in granting family pension, it will be seen that the deceased Government Female Employee – Pensioner has a widower in the family and the Government Female Employee – Pensioner has no children in the family on the date of death. Where the widower is not eligible for pension, family pension will be given.

If the child is minor or disabled then the pension will be given to the guardian. Family pension will be given to the child only after attaining adulthood. If the child is not eligible to receive family pension, he will continue to receive the pension till the death of the widower or re-marriage. The government says that the implementation of this rule will help in the empowerment of women government employees and pensioners.

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Review every three months: The government reviews the interest rates of small savings schemes every three months. Last time on September 30, interest rates were increased only on two schemes, while there was no change in other categories of schemes. In such a situation, it is expected that this time a decision on increase in remaining schemes can be taken.

There was no change in their interest rates: At present the government is running a total of 12 types of small savings schemes including Post Office Savings, PPF, Sukanya, Senior Citizen, National Certificate. Last time, the interest rates of most of these savings schemes were kept stable. Only the interest rate for the five-year recurring deposit scheme was increased from 6.5 to 6.7 per cent.

No change in PPF since last three years

Before April 1, 2020, the interest rate on PPF in the country was 7.9%. During the Corona period, the government had revised and reduced the interest rates of many savings schemes in the April-September 2020 quarter. Since then the interest rate of PPF has remained at 7.1 percent. Meanwhile, there were many amendments in interest rates but there was no change in PPF.

It is expected that this time the government may increase the interest rate of PPF after about four years. According to officials, the main reason for not much increase in PPF interest rate is that the return after tax in this scheme is high. In the case of the highest tax bracket, it reaches approximately 10.32 per cent. In view of this, the interest rate is not changed.

Finance Ministry decides

The Finance Ministry announces rates on small post office savings every quarter. Except for small savings schemes, banks decide the rates on FD in their own way based on the repo rate of the Reserve Bank. The purpose of small savings schemes is to encourage common people to save. Also, a source of regular earning is to be provided through Monthly Income Scheme and Senior Citizen Deposit Scheme.

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New system for those who have completed 18 years:

According to the new instructions of the Unique Identification Authority of India, this process will be applicable only for the youth who have completed 18 years of age. Once the Aadhaar card is made, they will also be able to do all types of updates as per the normal process. At the same time, people whose Aadhar cards are already made will not have to go through this new system.

State Government’s permission is mandatory:

According to the instructions, the government will nominate Additional District Magistrate at the district level and SDM at the sub-division level for physical verification of the application. Cards will be issued only after completing the verification process by these designated officers. District head post offices and other Aadhaar centers will be specifically selected for physical verification.

It may take up to 180 days to generate Aadhaar:

In the new system, it may take up to 180 days for a new Aadhaar to be issued. Under this, after Aadhaar enrollment (application), UIDAI will check the data quality and then send the application to the Service Plus portal. SDM will verify the applications received on the portal. There will be physical verification of all the documents submitted by the applicant. After this, permission to issue Aadhaar will be given from SDM level. If the documents are found doubtful or incorrect then the application will be rejected.

It is mandatory to be present on the spot:

As per the instructions, it will be mandatory for the applicant to be present on the spot during physical verification. For this, applicants living in other states and union territories will be advised to return to their home state for verification.

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Holiday calendar of central employees released

In the year 2024, the holidays given in the order will be available in all the central government offices in Delhi and New Delhi. Apart from this, every employee will be allowed to take any 2 holidays in the given list as optional holiday. There has been no change in the dates of holidays of Eid-ul-Fitr, Eid-ul-Zuha, Muharram and Eid-e-Milad for Delhi and New Delhi offices. This will depend on the visibility of the moon.

Compulsory holidays

Holiday to be observed in Central government offices during the year 2024

OFFICE MEMORANDUM – CLICK HERE

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Budget 2024 : The Government of India provides insurance cover to the common people. This insurance cover is given to the common people through the Pradhan Mantri Jan Arogya Yojana i.e. Ayushman Bharat (PMJAY) scheme. Government may increase PMJAY insurance cover in Budget 2024. Currently, the government provides insurance cover of Rs 5 lakh to the common people under this scheme. The government can increase the insurance cover of PMJAY from Rs 5 lakh to Rs 10 to 15 lakh.

Government will increase insurance cover

The government can increase the insurance cover available under PMJAY from Rs 5 lakh to Rs 10 to 15 lakh. Also, under this scheme, a target can be set to include 60 crore people in health cover. Modi government had announced Ayushman Bharat in Budget 2018. Under this scheme, two targets were set, first to provide insurance cover of Rs 5 lakh annually to 10 crore families and second to build one lakh health and wellness centres.

These benefits are available under PMJAY

Under the scheme, free treatment facility is available in any government and private sector hospital of the country. Checkup can be done 7 days in advance and after discharge. Under the scheme, treatment of corona, cancer, kidney, heart disease, dengue, chikungunya, malaria, dialysis, knee etc. can be done.

Budget will be presented on 1 February 2024

Finance Minister Nirmala Sitharaman will present the Interim Budget on February 1, 2024. He has made it clear that there will be no big announcements in this budget. He has said that big announcements will have to wait till next year’s full budget. The full budget will come in July. Lok Sabha elections are going to be held in April-May 2024. After this, the new government formed at the Center will present the full budget.

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There will be a need for the Central Government to increase the dearness allowance for the months of January to June 2024 also. But the decision on increase in dearness allowance in the year 2024 can be taken by the Modi government not in the month of March but only at the beginning of the new year. The reason is the Lok Sabha elections to be held between April and May next year.

When will dearness allowance increase?

In 2022, Modi government had decided to increase dearness allowance on 30 March 2022 and in 2023 on 24 March 2023. The dates for the 2024 Lok Sabha elections are expected to be announced in the first week of March. The code of conduct will come into force in the country with the announcement of election dates.

After that the central government will not be able to increase dearness allowance. In such a situation, it is believed that the Modi government may take a decision to increase dearness allowance and dearness relief between January and February to woo the central employees.

How much will dearness allowance increase?

The All India Consumer Price Index for Industrial Workers has seen a rise of 0.9 percent in the month of October. The All India Consumer Price Index of Industrial Workers plays the biggest role in determining dearness allowance and dearness relief. In such a situation, looking at these figures, it is expected that for the January to June period of the year 2024, the dearness allowance and dearness relief can be increased by up to 4 percent and the dearness allowance can be increased from the current 46 percent to 50 percent.

Will DA be merged with basic pay?

It is being said continuously in many reports that after the dearness allowance reaches 50 percent, it will be merged into the basic pay and the dearness allowance will become zero and there will be a fresh increase in the dearness allowance. But let us tell you that nothing like this is going to happen.

Because the Seventh Pay Commission has not recommended its merger with basic pay since there is such 50 percent dearness allowance. The Sixth Pay Commission also did not make any such recommendation. The question arises whether the government will constitute the 8th Pay Commission after 50 percent dearness allowance, although the government has been denying it.

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In view of the increasing cases of financial fraud through digital transactions, Modi government is going to bring a big scheme. The government is going to introduce a security measure on digital payments to reverse transactions within four hours. Under this, for the first time a limit of 4 hours is likely to be imposed for digital transactions of more than Rs 2,000, including IMPS, RTGS and UPI.

“For the first time, we are considering adding a four-hour time limit for digital transactions above Rs 2,000,” a senior government official has said. “The Reserve Bank of India, various public And will be discussed during a meeting on Tuesday with government and industry stakeholders, including private sector banks and technology companies like Google and Razorpay.

The official also said, “After making a payment to someone for the first time, you will have four hours to reverse or modify the payment. This will be on the lines of NEFT (National Electronic Fund Transfer), where the transaction takes place within a few hours. It happens.”

“Initially we did not want to have any amount limit, but through informal discussions with the industry, we realized that this could impact small purchases like groceries etc. So we are limiting the amount to less than Rs 2,000,” he said. We are planning to give exemption for transactions of Rs.

Let us tell you that when a user creates a new UPI account, he can send up to Rs 5,000 in the first 24 hours. Same is the case with NEFT, where a maximum of Rs 50,000 can be transferred to the beneficiary in the first 24 hours after it is activated.

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There was confusion regarding interest reduction

The rules regarding penalty for closing PPF account before 15 years were clear, but there was confusion regarding extension of the account period. As per the old rules (PPF 2019), if one closes the account during the extended period then the penalty will have to be paid from the time the account period extended.

That is, if an investor has extended the PPF account more than once for 5 years after 15 years, then the penalty will be charged from the time the PPF account was extended for the first time.

Relief given like this: In the new rules, it has been made clear that if the investor has extended the account period three times for five years each, then one percent penalty will not be imposed from the time the account is extended for the first time. Rather, the calculation will be done only for those five years in which the application for premature closure of the account has been given.

What are the existing provisions: The maturity period of PPF account itself is 15 years. This can be extended for another five years. The account cannot be closed for the next five years after the financial year in which the account is opened. Only after this, under special circumstances, the account can be closed before the maturity period but for this a penalty is imposed in the form of reduction in interest.

How much deduction: According to the rules, if the account is closed before the maturity period, there is a deduction of one percent in the interest, which is applicable from the date of opening of the account. If a person was getting 7.1 percent interest on the current contribution, but if he closes the account prematurely, he will get only 6.1 percent interest.

Exemption to close account in these circumstances

For treatment of serious illness of the account holder or family members
When you need money for your or your child’s higher education in the country or abroad
If the account holder is leaving the country then he can close the account.
On the death of the account holder, his Nomina account can be closed
It is necessary to submit these documents

To close the PPF account before the maturity period, a written application has to be submitted to the concerned bank or post office. Form-5 will also have to be filled. In this, a clear reason for closing the account must be given. Also, necessary documents will have to be attached with the application.

If you close the account for the treatment of illness, then you will have to submit the documents given by the medical authority. Copy of PPF passbook will have to be attached. The application is accepted after verification of documents.

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The government has relaxed rules for some small savings schemes, including the Public Provident Fund (PPF) and Senior Citizens Savings Scheme. Under the new rule, there will be three months time to open an account under Senior Citizen Savings Scheme, whereas at present this period is one month.

What’s in the notification: According to the notification issued by the government, a person can open an account under the Senior Citizens Savings Scheme within three months from the date of retirement. Interest will be paid at the rate fixed for the scheme on the maturity date or extension maturity date. Some changes have been made regarding premature closure of accounts in the case of Public Provident Fund i.e. PPF. The notification said that this scheme may be called the Public Provident Fund (Amendment) Scheme, 2023.

Changes in these schemes also: Apart from this, some changes have been made in the rules of premature withdrawal under the National Savings Fixed Deposit Scheme. If the amount deposited in an account with a tenure of five years is prematurely withdrawn after four years from the date of account opening, interest will be payable at the rate applicable to Post Office Savings Account.

As per the existing rules, in such a situation, interest is given at the acceptable rate for a three-year fixed deposit account. Let us tell you that small savings schemes are managed by the Department of Economic Affairs under the Finance Ministry.

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Piyush Goyal flags off 100 mobile vans

Union Minister for Consumer Affairs, Food and Public Distribution Piyush Goyal flagged off 100 mobile vans for the sale of Bharat Atta. Subsidized wheat flour will be sold in different cities of the country through these mobile vans.

Bharat Atta will be available at these places also

Bharat Atta can easily reach the citizens of the country. For this, Bharat Atta will be distributed through mobile outlets of Kendriya Bhandar, cooperative and retail outlets of NAFED and NCCF.

Gave 2.5 lakh metric wheat

In order to provide subsidized flour, about 2.5 lakh metric tonnes of wheat has been given to various government agencies of the country like Kendriya Bhandar, NCCF and NAFED at the rate of Rs 21.50 per kg.

▪️ Centre launches sale of ‘Bharat’ Atta at an MRP of ₹ 27.50/Kg

▪️ Union Minister @PiyushGoyal flags off 100 mobile vans for sale of wheat flour (Atta) under ‘Bharat’ brand

▪️ ‘Bharat’ Atta also available at Kendriya Bhandar, National Agricultural Cooperative Marketing… pic.twitter.com/MkFrZraNG7

— PIB India (@PIB_India) November 6, 2023

Pulses will be available at Rs 60 per kg

The government will sell not only flour but also pulses on subsidy. Piyush Goyal said during the program that the Central Government has been continuously making efforts to reduce the prices of essential commodities. The government has taken several steps to reduce the price of onion and tomato. The central government will also provide Bharat Dal at the rate of Rs 60 per kg.

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It is reported that before the Lok Sabha elections, the Modi government at the Center is preparing to amend the National Pension Scheme, for this the pension model of Andhra Pradesh is being considered. Under this, employees can be given benefits like the old scheme. There is a possibility that Modi government may announce a new scheme before 2024. Let us tell you that NPS is applicable across the country for all government employees except the armed forces employees who joined the Central Government after January 2004.

Andhra Pradesh model is being considered

In fact, after the restoration of OPS in Punjab, Chhattisgarh, Rajasthan, Jharkhand and Himachal Pradesh, the demand for the old pension scheme has gained momentum across the country. Employees’ organizations have opened a front against the Central and State Governments for implementing OPS, in such a situation, discussions have started to change the National Pension Scheme by not implementing OPS before the Lok Sabha elections.

According to media reports, Modi government is preparing to make changes in NPS, for this the Finance Ministry is considering adopting Andhra Pradesh model. For this, the government is currently preparing to make changes on the recommendations of a high level committee investigating the matter.

What benefit will you get?

According to media reports, the Central Committee is working on the modalities of the pension scheme, every aspect of which is being closely considered, which is mainly based on the Andhra Pradesh model. The Andhra model guarantees pension based on 40-50% of the employee’s last basic pay. The proposed scheme would be market-linked, with the government meeting any shortfall in the pension fund. Employees will continue to contribute as before, while the government’s contribution will increase. Currently, employees contribute 10% of their basic salary to the NPS, while the government contributes 14% to the NPS account. However, it is not clear whether the new scheme will be linked to DA like the Andhra scheme or not.

Know what is the difference between OPS and NPS

• In OPS, after the retirement of a government employee, half of the last basic salary and dearness allowance is given as pension from the government treasury throughout his life. In OPS, DA is also increased twice every year. On the death of a pensioner government employee, the pension given to his family is also included in OPS.
• Unlike OPS, in the new pension scheme, whatever money you get on retirement as per the stock market, you have to pay tax on it. In OPS, Dearness Allowance (DA) is applied to the employees after 6 months. In OPS, employees get a gratuity of up to Rs 20 lakh after retirement. In OPS, an employee does not have to pay any income tax on the interest on GPF on retirement.
• Under the NPS new pension scheme, a government employee has to pay 10 percent of his basic salary in his pension and the state government contributes only 14 percent. Under the new pension scheme, 40 percent of the NPS fund is invested to get pension on retirement. Has to be done. There is no guarantee of fixed pension after retirement.
• NPS is based on the stock market. This does not include the provision of dearness allowance. In NPS, there is a provision to give 50 percent of the total salary as pension to the family members in case of death of an employee during service. There is no permanent provision of gratuity at the time of retirement in NPS. Pension Retired employees also get the benefit of getting their pension revised once the commission is implemented. In the New Pension Scheme (NPS), the Dearness Allowance (DA) given after 6 months is not applicable.

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Before Diwali, the Modi government at the Center has given the gift of dearness allowance, Diwali bonus and 3 months arrears to the central employee pensioners. In November, the salary of employees and pension of pensioners has increased, they have also been given the benefit of 3 months arrears and bonus.

Now the next dearness allowance will be revised in 2024, although the amount of increase next time will depend on the half yearly data of AICPI index. From the data of AICPI index till September, it is being speculated that in the new year DA will be 50% or more. Can be crossed.

How much can DA increase again by 4 to 5% in 2024?

Actually, the Central Government revises the DA/DR rates of central employees-pensioners twice a year in January and July, which depends on the half yearly data of AICPI index. New rates have been announced for 2023 and now the next DA will be revised in the year 2024, which will depend on the AICPI index data for July to December 2023.

After the AICPI index numbers of July and August, now the figures of September 2023 have been released, the All India CPI-IW has declined by 1.7 points to reach 137.5 in September, despite this the DA score has come down to 48.54 percent, because till now There has been a jump of 2.50 percent in the numbers.

The figures for October, November and December are yet to be released. If this figure crosses 49% in October, then it is expected to cross 50% by December, in such a situation DA can increase again by 4%, however the data of October, November and December will decide how much DA will be in January 2024. It will increase and the final decision will be taken by the Central Government only.

Will the new pay commission be implemented?

• If the DA rates are increased again by 4% for January 2024 next year, then DA will reach 50%, in such a situation the salary of the employees will be revised because with the formation of the 7th Pay Commission, the Central Government has revised the rules of DA. It was decided that DA will become zero when it reaches 50%, 50% DA will be given by adding it to the existing basic salary and the calculation of DA will start from zero. Many types of allowances will also increase by up to 25%.
• The 7th Pay Commission was constituted in 2013, while its recommendations were implemented in 2016, hence speculations are being made that if DA reaches 50% and becomes zero then the government will have to constitute a new pay commission (8th pay commission). Or will a new rule have to be brought regarding increasing the salary. Since till now a new pay commission has been constituted every 10 years, the government may have to consider a new pay commission in 2024, although it has not been officially confirmed yet, but considering the current circumstances, it can be estimated. Used to be.

This is how dearness allowance is calculated

DA for Central Government employees is calculated on the basis – {Average All India Consumer Price Index of last 12 months (Base Year-2001=100-115.76/115.76}X100. For Central Public Sector employees, the formula is as follows – { Average of 3 months All India Consumer Price Index (Base Year-2001=100-126.33/126.33}X100. In other words, dearness allowance is calculated based on the current rate of DA and basic salary multiplied by The amount is withdrawn.

A look at the data of AICPI index September 2023

• The Consumer Price Index for Industrial Workers is compiled every month by the Labor Bureau, an attached office of the Ministry of Labor and Employment, based on retail prices collected from 317 markets in 88 important industrial centers of the country. This index is compiled for 88 centers and all India level and is released on the last working day of the following month. The index for the month of September, 2023 is being released in this press release.
• The All India CPI-IW for September 2023 declined by 1.7 points to 137.5 (one hundred thirty-seven point five). On a month-on-month percentage change basis, it has declined by 1.22 per cent compared to the previous month, while an increase of 0.84 per cent was recorded during the same month a year ago. Year-on-year inflation for September 2023 is expected to be 4.72 per cent. percent, whereas last month it was 6.91 percent and in the same month a year ago it was 6.49 percent. Similarly, the food inflation rate stood at 6.52 per cent as compared to 10.06 per cent last month while it was 7.76 per cent during the same month a year ago.

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The Pension Fund Regulatory and Development Authority (PFRDA) has made important changes in some rules related to the National Pension Scheme (NPS). Now up to 60 percent of the deposited amount can be withdrawn monthly/quarterly/half yearly or annually. Earlier it could be withdrawn annually or in lump sum. The reason behind this change is that NPS should better meet the monthly needs of people after retirement.

Who will benefit from this and how

Personal finance advisor CA Manish Garg explains it this way with an example. He told, “Suppose a person aged 60 did not have the option of pension. On retirement, his total fund became Rs 1.5 crore. In view of this, someone gave him money in the Senior Citizen Savings Scheme (up to Rs 30 lakh). Advised him to invest, from where he would get around 8% interest.

That is, he would get Rs 240,000 per year. He would get 7.4% to 7.5% interest on the balance amount of Rs 1.20 crore deposited in Post Office MIS/Bank FD etc. That is, he would have got interest of around Rs 9 lakh from here. Overall, he would have got Rs 1140000 as interest annually and it is taxable.

That means he would have to pay tax of around Rs 65500 on this in the new tax regime and the net income from interest would be around Rs 1074500. That is, he would have got only around Rs 89,541 for his monthly expenses. Moreover, even after 15 years, his principal amount i.e. Rs 1,50,00,000 would have remained the same.”

How the new rule of NPS will provide benefits: CA Manish Garg says that now suppose the same person accumulates a fund of Rs 1.50 crore through NPS by the age of 60 years. If he withdraws 60 percent of this i.e. Rs 90 lakh systematically as per the new rules till the age of 75 years, then he will get around Rs 1183000 (with 10 percent interest) for his monthly needs.

This is a completely tax free amount. This means that you will receive around Rs 1 lakh per month for 15 years. On the other hand, if 40 percent annuity continues to increase by 10 percent annually, it will become Rs 25063489 in 15 years.

Double benefit from NPS:

Garg said this is Modi government’s Diwali gift. Through NPS, after 60 years till the age of 75 years, there will be a benefit of approximately Rs 10,000 every month. Because there is no tax here. On the other hand, our deposited capital will also become around Rs 2.50 crore instead of Rs 1.5 crore.

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The Modi government has announced the constitution of a four-member committee under the chairmanship of the Finance Secretary to improve the National Pension System. In such a situation, it is being speculated that the Modi government can also give green signal to the formation of the Eighth Pay Commission. The 8th Pay Commission is to be constituted in 2023 itself. The Pay Commission was constituted only in 2013 when the recommendations of the Seventh Pay Commission were implemented in 2016. The recommendations of the new Pay Commission are implemented after every 10 years.

Last year in August 2022, when the question was asked to the Finance Minister whether the Modi government would also give a green signal to the formation of the Eighth Pay Commission. The Pay Commission is to be constituted in 2023 itself. Then, while answering this question, Minister of State for Finance Pankaj Chaudhary had said that there is no proposal before the government to set up the 8th Pay Commission. The Minister of State for Finance had given this answer in writing to the question asked during the Question Hour.

Although it is not that easy either. Because the National Pension System, about which the Modi government was not getting confused, during the passage of the Finance Bill in the Lok Sabha, Finance Minister Nirmala Sitharaman announced that it has been decided to further improve the National Pension System for government employees and for that, she has decided to form a committee under the chairmanship of the Finance Secretary. This decision of the Finance Minister was surprising.

The Lok Sabha elections to be held in 2024 are just a year away and the vote of the government employees is very important for the ruling party, in such a situation, a committee has also been formed to improve the National Pension System. In such a situation, it is believed that the Modi government can also give a green signal to the formation of the Eighth Pay Commission. Before the Lok Sabha elections, the government cannot buy the displeasure of the government employees by not constituting the Pay Commission. Opposition parties can make it a big election issue like NPS.

There was already a tussle between the Center and the states ruled by the opposition parties regarding the National Pension Scheme. The old pension scheme was reinstated in Congress ruled states like Himachal Pradesh, Rajasthan, Chhattisgarh. After which the government has constituted a committee to review the NPS. That’s why it is being speculated that the government can also constitute the Eighth Pay Commission.

Let us tell you that since 1947 many Pay Commissions have been formed. The government constitutes a new pay commission every 10 years. On the basis of whose recommendations the salary of central employees and pension of pensioners are increased. The Seventh Pay Commission was constituted by the UPA government on 24 February 2014. In 2006 and 2016, the Sixth and Seventh Pay Commission had recommended a big hike in the salaries of central employees and the governments, accepting it, had also increased the salaries of government employees.

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In the budget 2023-24, the Modi government at the center has made many changes to make the new tax regime attractive. Since then, the interest of many people has increased in this tax regime. On Friday, Finance Minister Nirmala Sitharaman has once again praised the new tax regime. The Finance Minister said that the new tax regime has given maximum relief and benefits to the middle class people. He said that people of this class are getting tax exemption on an annual income of Rs 7.27 lakh.

Those earning a little more than Rs 7 lakh will also get tax exemption

The Finance Minister has said that the Modi government at the Center is trying to take every section of the country along. In such a situation, keeping in mind the middle class of the country, the government has given income tax exemption to people earning up to Rs 7 lakh. This exemption is available under the new tax regime.

After this decision of the government, many people of the country did not believe in it. There was a question in the mind of some people that if a person’s income is more than Rs 7 lakh, will he have to pay tax? In such a situation, we talked continuously to consider this matter. After this, it was decided that no tax would have to be paid if the income is just a little more than Rs 7 lakh. For example, a person earning Rs 7.27 lakh annually will not have to pay any tax.

Standard deduction available on income of Rs 50,000

Nirmala Sitharaman also said that earlier people were not getting the benefit of standard deduction in the new tax regime, about which many complaints were coming. In such a situation, keeping in mind the needs of the people, we have also made a provision for standard deduction up to Rs.50,000.

The budget for MSMEs has been increased manifold

Praising the steps taken by the government for Micro, Small and Medium Enterprises, the Finance Minister said that its budget has increased 7 times in the last 9 years. In the financial year 2013-14, this budget was Rs 3,185 crore, which has now been increased to Rs 22,138 crore in 2023-24. This shows how committed the government is to promote the small industries of the country. Along with this, he said that under the public procurement policy, the government is making 33 percent of the total purchases from MSMEs.

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There is great news for the people who pay Income Tax. If you also pay income tax, then now you have got a big relief from the Central Government. This time an important decision has been taken by the Modi Government, after which no tax will be levied on the income of crores of taxpayers of the country. Finance Minister Nirmala Sitharaman had made a special announcement about this in Budget 2023. Let us tell you that now which people have got freedom from paying tax.

Was announced in the budget

In February, the Modi government had presented the budget, in which the Finance Minister had announced that people filing taxes under the new tax regime are now getting relief from paying taxes. The government had decided to increase the income tax exemption to Rs 7 lakh in the new tax regime. That is, now people with income up to 7 lakhs will not have to file tax.

Earlier the limit was 5 lakhs, let us tell you that the government had told that from now on, if anyone files tax under the new tax regime, he will not have to pay tax on income up to Rs 7 lakhs. Earlier this limit was Rs 5 lakh, which was increased to Rs 7 lakh in February. People with higher salary have benefited from the increase in tax exemption.

Apart from this, you will also get the benefit of standard

deduction in the new tax regime. Salaried and pensioners now file tax under the new tax regime, then they will get an additional benefit of Rs 50,000. In such a situation, after earning seven lakh rupees annually in the new tax regime, a rebate of 50 thousand rupees will also be available under the standard deduction.

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The discussion is not just here, the good news is that the file is being prepared. It is expected that next year the Modi government will make a big announcement for the central employees.

Preparation is going on for 8th Pay Commission

There can be a big increase in the minimum salary of central employees. Next year, the central government can give this gift to its employees. Till now the discussion was that the 8th Pay Commission will not come. But, now it is expected that after the 7th pay commission latest news, preparations are being made for the next pay commission. However, no confirmation has been made by the government so far. But, government sources tell that the government is making its intention. After the continuous demand of the employees, the gift of the next pay commission can be given.

There will be a huge jump in salary

If sources are to be believed, general elections are to be held in the year 2024. That’s why a new pay commission can be constituted for the employees. There will be the biggest increase in the salary of the employees only at the time of 8th Pay Commission. It can be said for sure that the matter is moving forward. Sources also tell that it is too early to say what will come in the new pay commission and what will not. Because, its full responsibility will be of the chairman of the pay commission. The chairman of the new pay commission may also be announced before the general elections in the year 2024. A committee will be formed under his supervision and after that a decision will be taken on which formula to increase the salary.

When can the 8th Pay Commission come?

If sources are to be believed, the 8th Pay Commission should be constituted in the year 2024. At the same time, it can be implemented within one and a half years. According to experts, if this happens, there is a huge jump in the salary of central government employees. Many changes are possible in the 8th Pay Commission as compared to the 7th Pay Commission. There may be some changes regarding the fitment factor as well. Tell me, till now the government constitutes the Pay Commission once in 10 years.

How much salary will increase in 8th Pay Commission?

Lottery of employees is going to be held in 8th Pay Commission as compared to 7th Pay Commission. If everything goes well then the biggest jump in the salary of the employees is expected. The fitment factor of the employees will increase to 3.68 times. Also, whatever be the formula, there can be an increase of 44.44% in the basic salary of the employees. So this was the good news for the employees which can make the employees happy.

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Pension is given to the eligible person under the Atal Pension Yojana of the Central Government (Modi Government). This is a social security program, through which people get the benefit of pension in old age (Pension Scheme). Giving information on Thursday, the Finance Ministry said that this scheme has recently completed its 8 years. So far, a total of 5.25 crore subscribers have been added under this scheme.

This scheme was launched by Prime Minister Narendra Modi in the year 2015. The aim behind the introduction of APY was that every senior citizen of the country could get the benefit of fixed pension. This scheme is specially designed for the people working in the unorganized sector.

So many people joined in the financial year 2022-23

According to the information given by the Finance Ministry, in the financial year 2022-23, there has been an increase of 20 percent in the number of new subscribers as compared to the previous year. Along with this, investors have got 8.92 percent return from this scheme so far. The total Assets Under Management under this scheme has reached Rs 28,434 crore.

The poor got the benefit of pension

Giving information about the Atal Pension Yojana, the Finance Ministry said that the success of this scheme lies in the fact that it will help in providing pension benefits to the poor and weaker sections of the country. It is noteworthy that in the Atal Pension Yojana, people between the age of 18 to 40 years can invest in the scheme. For this you should have a savings bank account and you should not be a taxpayer.

Subscribers of Atal Pension Yojana get the benefit of monthly pension ranging from Rs 1,000 to Rs 5,000 after attaining the age of 60 years. This amount is decided on the basis of your investment. This is a government-backed pension scheme, for which you need to have a savings account, Aadhaar number and a mobile number. You can open this account in any bank or post office.

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Meanwhile, discussions about banning diesel vehicles are coming to the fore. However, the Petroleum Ministry has made it clear that the government has not yet accepted the recommendation to ban diesel four-wheelers in cities with a population of more than one million.

The committee constituted on energy transition has suggested the adoption of electric and gas-powered vehicles along with banning diesel-powered vehicles in big cities by the year 2027. Apart from this, the committee headed by former petroleum secretary Tarun Kapoor has also recommended phasing out of conventional engine-powered motorcycles, scooters and three-wheelers by 2035.

In a tweet on Wednesday, the Ministry of Diesel

, Petroleum and Natural Gas clarified the position on the recommendation of this committee and said, “The ministry has received the report of the committee constituted on energy transition. However, the Government of India is yet to accept this report of the committee.” In this report submitted to the government in February last, it has been said that no new diesel bus should be run in urban areas for about 10 years.

Suggestions for adoption of low carbon fuel

The Petroleum Ministry said, “India is committed to achieving the goal of net zero emissions by the year 2070.” The committee constituted on energy transition has given comprehensive suggestions for adopting low carbon fuel. The vision of the committee is future-oriented.

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The kind of discussions that are going on in the country regarding the National Pension System, meanwhile, speculations are being made that the government may soon implement the Eighth Pay Commission across the country. Modi Government can soon give green signal to the 8th Pay Commission. Eighth Pay Commission is to be constituted in this year i.e. 2023 itself.

The recommendations of the new pay commission are applicable after 10 years.

Let us tell you that the 7th Pay Commission was formed in the year 2013 and it was implemented in the year 2016, after which there was a huge increase in the salary of the central employees. Now once again the government employees are going to have fun. Let us tell you that the recommendations of the new pay commission are implemented after every 10 years.

Good news can be received before the Lok Sabha elections, according to the information received from the sources, the Central Government may soon announce the 8th Pay Commission. Lok Sabha elections are to be held across the country next year, so before that the government is planning to give a big gift to the employees.

Now the minimum basic salary is Rs 18,000.

At present, the minimum salary of central employees ranges from Rs 18,000 to Rs 56,900 per month. After the implementation of the new pay commission, the minimum salary of the employees will increase. Along with this, the fitment factor in the Pay Commission report may also increase.

The union will talk to the government

It is being told by the Central Employees Union that the union will soon talk to the government regarding the demand for the 8th Pay Commission. At the same time, a memorandum will also be submitted to the government for this. If the government refuses to accept the demands, the union may consider an agitation, in which central employees as well as ex-pensioners may participate.

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At present, the old pension system (OPS news) has been implemented in many states of the country. At the same time, now big news is coming from the Central Government on Old Pension that in all the states where the old pension system has been implemented, the State Governments are asking for the NPS money back, but the Modi government has Has flatly refused to give the money.

The central government flatly denied

Let us tell you that at this time the Ashok Gehlot government of Rajasthan is engaged in making the old pension scheme a big issue. It has become a main election issue this time. The Rajasthan government has restored the old pension in April 2023. At the same time, the central government has flatly refused to consider NPS.

10% is deposited by the state government

Explain that under the National Pension Scheme, 10 percent of the salary and dearness allowance given to the employees is deposited by the state government. OPS has 5,24,72 OPS accounts in Rajasthan. In this, Rs 14,171 crore was deposited by the government and Rs 14,167 crore was deposited by the employees. If the amount of interest is added to it, then this money is Rs 40,157 crore. In the notification issued by the state government on May 19, 2022, it was said that the employees will have to return the NPS contribution along with interest to the state government.

Preparation for change in new pension scheme

Let us tell you that the central government has clearly refused to give money to the state government, then the state government is planning to change the notification. At the same time, the central government is planning to make changes in NPS itself to give benefits to the government employees.

Get more profit in OPS

Let us tell you that there is a huge difference between the new and old pension scheme, due to which the employees and pensioners are demanding to restore the old pension scheme. At the time of retirement in OPS, employees get half the amount of salary as pension.

At the same time, in the new pension scheme, 10 percent of the employee’s basic salary + DA is deducted. The special thing about the old pension scheme is that no money is deducted from the salary of the employees. Apart from this, there is no provision for DA to be received after 6 months in the new pension.

Apart from this, payment in old pension is made through the treasury of the government. At the same time, there is no guarantee of fixed pension in the new pension.

Many employees have already retired

While giving information, the Central Government has told that out of 5.24 lakh employees appointed after January 2004, 3554 have retired a year ago. Such employees have not been able to get the benefit of pension.

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Income Tax

In fact, in Budget 2023, an important announcement was made by Finance Minister Nirmala Sitharaman on behalf of the Modi government. Nirmala Sitharaman had announced changes in the income tax slab. During this, important changes were made by the government in the new tax regime. In this, people were also given relief in tax. Along with this, a change was also made in the tax slab.

Tax Slab

In fact, earlier in the new tax regime, no tax had to be paid on annual income up to Rs 2.5 lakh and after that five per cent tax had to be paid on income between Rs 2.5 lakh to Rs 5 lakh. At the same time, in the budget 2023, it was announced that no tax will have to be paid on annual income of Rs 3 lakh on filing tax under the new tax regime. This rule has also come into force from April 2023.

Apart from this, people whose annual income is between Rs 3 lakh to Rs 6 lakh will have to pay 5% tax on filing tax under the new tax regime . Crores of people have praised this decision of the Modi government.

On the other hand, if someone files tax from the old tax regime, then no tax will be levied on an annual income of Rs 2.5 lakh. However, if a person files tax from the old tax regime, then people will have to pay 5% income tax on income between Rs 2.5 lakh to Rs 5 lakh annually.

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At the same time, an important step has been taken by the Modi government. Through this step, the Modi government has done the work of providing relief to crores of people of the country.

Many works are being done by the government to give relief to the people. Along with this, many schemes are also being run for the benefit of the people. Through these, the government is working to provide relief to different classes of people. At the same time, an important step has been taken by the Modi government. Through this step, the Modi government has done the work of providing relief to crores of people of the country. With this, people are going to get tax exemption.

Government announcement

In fact, in the month of February this year, Finance Minister Nirmala Sitharaman had made an important announcement while presenting Budget 2023. Through this announcement, Finance Minister Nirmala Sitharaman increased the income tax exemption in the new tax regime to Rs 7 lakh. Along with this, Sitharaman said that people whose annual income is up to Rs 7 lakh will no longer have to pay tax.

In such a situation , the Modi government told that if someone files tax under the new tax regime, then the taxpayers will not have to pay any tax on the annual income of seven lakh rupees. Earlier this limit was Rs 5 lakh per annum. By increasing the tax exemption, the work of giving relief to crores of people of the country has been done by the Modi government.

Along with standard deduction, now in the new tax regime, people can also take advantage of standard deduction. Salaried and pensioners now file tax under the new tax regime, then they will get an additional benefit of Rs 50,000. In such a situation, after earning seven lakh rupees annually in the new tax regime, a rebate of 50 thousand rupees will also be available under the standard deduction.

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In such a situation, it is being speculated that the Modi government can also give green signal to the formation of the Eighth Pay Commission. The 8th Pay Commission is to be constituted in 2023 itself. The Pay Commission was constituted only in 2013 when the recommendations of the Seventh Pay Commission were implemented in 2016. The recommendations of the new Pay Commission are implemented after every 10 years.

Last year in August 2022, when the question was asked to the Finance Minister whether the Modi government would also give a green signal to the formation of the Eighth Pay Commission. The Pay Commission is to be constituted in 2023 itself. Then, while answering this question, Minister of State for Finance Pankaj Chaudhary had said that there is no proposal before the government to set up the 8th Pay Commission.

The Minister of State for Finance had given this answer in writing to the question asked during the Question Hour. Although it is not that easy either. Because the National Pension System, about which the Modi government was not getting confused, during the passage of the Finance Bill in the Lok Sabha, Finance Minister Nirmala Sitharaman announced that it has been decided to further improve the National Pension System for government employees.

And for that they have decided to form a committee under the chairmanship of the Finance Secretary. This decision of the Finance Minister was surprising.

The Lok Sabha elections to be held in 2024 are just a year away and the vote of the government employees is very important for the ruling party, in such a situation, a committee has also been formed to improve the National Pension System.

In such a situation, it is believed that the Modi government can also give a green signal to the formation of the Eighth Pay Commission. Before the Lok Sabha elections, the government cannot buy the displeasure of the government employees by not constituting the Pay Commission. Opposition parties can make it a big election issue like NPS.

There was already a tussle between the Center and the states ruled by the opposition parties regarding the National Pension Scheme. The old pension scheme was reinstated in Congress ruled states like Himachal Pradesh, Rajasthan, Chhattisgarh. After which the government has constituted a committee to review the NPS. That’s why it is being speculated that the government can also constitute the Eighth Pay Commission.

Let us tell you that since 1947 many Pay Commissions have been formed. The government constitutes a new pay commission every 10 years. On the basis of whose recommendations the salary of central employees and pension of pensioners are increased. The Seventh Pay Commission was constituted by the UPA government on 24 February 2014. In 2006 and 2016, the Sixth and Seventh Pay Commission had recommended a big hike in the salaries of central employees and the governments, accepting it, also increased the salaries of government employees.

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According to sources, this year a 3 per cent increase in dearness allowance is expected for central government employees and it is likely to be announced on March 15. After this, the DA of central employees will increase from 38 to 41 percent. Although no information has been given by the government yet.

Your salary will increase

If the DA hike is announced under the 7th Pay Commission on March 15, then central government employees can get their increased pay from March 31, 2023. And this can also be added to the final amount. If the DA hike is set at 3 per cent, then as per the DA calculation, the salary of central government employees will increase by around Rs 10,800. This amount is taken into account after considering the basic pay of Rs.18,000 and the basic pay of Rs.56,900.

The government has not yet issued any notice

The news regarding DA hike of government employees under 7th Pay Commission is expected to be announced in the annual meeting of Modi cabinet today. Till now the government has not issued any formal notice regarding the salary hike of the employees. Now only the announcement regarding DA hike is expected.

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PM Modi will announce this in the meeting to be held on Wednesday. This time the dearness allowance will increase to 42%. On the basis of AICPI-IW figures, allowance is given to the employees by calculating inflation. It is revised every 6 months. Let us tell you, the increased dearness allowance will be applicable from January 2023. Till now 38% dearness allowance is being received.

4% DA hike approved

Dearness Allowance will be given formal approval on Wednesday in the Modi cabinet. Earlier it was to be announced till Holi, but it did not happen. Prime Minister Narendra Modi can now approve it himself in the cabinet. After this, the Finance Ministry will notify it. As soon as the notification is issued, the increase in the salary of the central employees will start. According to sources, the increased dearness allowance will be paid in the March salary.

Will get arrears of two months

It is believed that the increased dearness allowance is to be paid in the salary of March. Dearness Allowance (DA) has increased by 4% to 42%. This will be applicable from January 2023. In such a situation, the employees will get DA Arrear of 2 months. The total increase in Pay Band 3 is to be Rs 720 per month. Means they will also get arrears of 720X2=1440 rupees for January and February.

How is dearness allowance calculated?

The Labor Bureau calculates dearness allowance and dearness relief for employees and pensioners every month. For this, calculation is done on the basis of Consumer Price Index (CPI-IW). The Labor Bureau is part of the Ministry of Labour. Last year in July 2022 DA Hike of 4% was done. Now once again 4% has been increased. From the CPI-IW data released on January 31, 2023, it was decided that there would be an increase of 4.23% in dearness allowance. But, it is done in round figure, so it is 4%.

Increase in dearness relief for pensioners

The government has also given Holi gifts to lakhs of pensioners of the country. Along with DA Hike, Dearness Relief (DR Hike) has also increased by 4%. Means pensioners will also be paid dearness relief at the rate of 42%. Overall, before the festival, the Modi Government has increased the money of the employees and pensioners under the 7th Pay Commission.

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After this, now the central employees (Government Employees) are going to bat. However, not all employees are going to get the benefit of the Old Pension Scheme. Because according to the new update released by the government, only a few selected employees are being given the opportunity to opt for the Old Pension Scheme (OPS).

In such a situation, there is a question in the mind of the central employees whether they are eligible for the benefits under the old pension or not. If you are an employee of the Central Government and want to know whether you are among the beneficiaries of the old pension scheme or not, then definitely read this news.

Which employees are going to get the benefit of Old Pension Scheme (OPS)

According to the new update regarding old pension, the employees joining the services of the Central Government under the advertised or notified posts before December 22, 2003, the date of notification of the National Pension System (NPS) Eligible to join the old pension scheme under the Central Civil Services (Pension) Rules, 1972 (now 2021).

Understand this in simple words, if an employee has joined the government job through the recruitment that came out before December 22, 2003, then he will get the benefit of old pension. There itself. The employees who have got jobs through recruitment released after December 22, 2003 will not get the benefit of old pension. They will be given pension cover under the National Pension Scheme.

Know the last date for choosing the old pension scheme

Government employees who are eligible to opt for the old pension scheme can exercise this option till August 31, 2023. Along with this, the government has also told that if the eligible employees do not opt ​​for the Old Pension Scheme (OPS) by August 31, 2023, then they will be given pension under the New Pension Scheme (NPS).

On the other hand, if an employee chooses to go from the new pension scheme to the old pension scheme (NPS To OPS), then it will be considered as the last option. This means that he will not be able to switch to the new pension scheme again.

What is Old Pension Scheme

Let us tell you that under the old pension scheme i.e. Old Pension Scheme (OPS), before the year 2004, the government used to give a fixed pension to the employees after retirement. This pension was based on the salary of the employee at the time of retirement. In this scheme, after the death of the retired employee, his family members were also given the benefit of pension. However, on April 1, 2004, the Central Government had decided to discontinue the Old Pension Scheme. After which, in the year 2004, the National Pension System was started in place of the old pension scheme.

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Central employees were demanding implementation of old pension. They believe that the new pension scheme offers less facilities and benefits than the old pension scheme. Along with this, according to the central employees, they were also facing some problems in the New Pension Scheme (NPS).

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Some state governments have also implemented the old pension for the employees despite the warning of the Center. Not only this, seeing the elections in some states, the opposition parties have announced to implement the old pension on coming to power. However, the Central Government is repeatedly refusing to implement it by citing rules. Prime Minister Modi himself had given a statement on this in the Parliament last days.

Trying to find a middle way

Now amidst the growing demand for old pension, the Central and some state governments are trying to find a way between the Old Pension Scheme (OPS) and the National Pension Scheme (NPS). Sources claim that the central government is trying to find a middle ground between OPS and NPS. According to sources, the first option being considered by the government is to offer guaranteed pension to government employees at about 50% of the last pay drawn under NPS.

There will not be much burden on the exchequer, if this rule applies, then changes can be made in the existing NPS without putting much burden on the exchequer. While the old pension scheme is given on the basis of pre-decided benefits. NPS is given to the employee on the basis of contribution received from the employee.

What is NPS

The currently ongoing New Pension Scheme (NPS) is a retirement plan. In this, the beneficiaries will be able to withdraw 60% of the invested amount after retirement. This money is tax free in any way. Remaining 40% amount needs to be invested in annuity to get monthly pension. That is, after retirement, 60% is to be invested in lump sum amount and 40% is to be invested to get monthly pension. This scheme was introduced by the government in the year 2004.

Officials expect that there may be a change in NPS in such a way that after retirement, any employee will get 41.7% of the amount as a lump sum and the remaining 58.3% on the basis of annualization. An analysis has also shown that if the 58.3% corpus made up of Central/State Government contribution (14%) is annuitised, the pension in NPS can be around 50% of the last drawn salary.

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If media reports are to be believed, the government may increase the DA ie Dearness Allowance-DA of the employees before Holi. The government can increase the dearness allowance from 38 percent to 42 percent. The government will implement these new rates from January 1, 2023.

Government will increase dearness relief

Along with dearness allowance, the central government will also increase Dearness Relief (DR). Dearness relief is given to the pensioners to deal with inflation and dearness allowance is given by the government to protect the employees from rising inflation. This will benefit lakhs of employees and pensioners of the country.

Salary and pension will increase so much

Right now the DA of the employees is 38 per cent. If there is an increase of 4 percent in it, then it will increase to 42 percent. Suppose if your basic salary is Rs 18,000 per month under Level 1 pay scale, then your DA will increase to Rs 7,560. That is, there will be a total increase of Rs 720 per month in DA. According to 38 per cent DA, the employees are currently getting Rs 6,840 DA. In the same way, the pension received by the pensioners will also increase. His DR is calculated on the basis of basic pension.

The government does revision in DA and DR twice a year.

The government usually revises the rates of DA and DR every six months. It is given due to inflation i.e. to deal with inflation. If you look at the records of the previous years, the government has increased the dearness allowance in January and July. The DA paid to the employees along with the salary comes fully in the taxable income. The Income Tax Act states that the tax liability for DA and salary is required to be disclosed in the return filed.

DA was increased before Diwali last year

The last revision in DA was done on 28 September 2022, which was considered to be applicable from 1 July 2022. The Center had raised DA by four percentage points to 38 per cent based on the percentage increase in the 12-monthly average of the All India Consumer Price Index. Now it is expected to grow by 4 percent again. If this happens, it will become 42 percent.

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What is Vaya Vandana Yojana?

Pradhan Mantri Vaya Vandana Yojana is a social security scheme. Under which the beneficiary will get monthly pension. It has been brought by the Government of India, while this scheme is being operated by Life Insurance Corporation of India (LIC).

If both husband and wife have crossed the age of 60 years, then they can invest a maximum of Rs 15 lakh. Earlier the investment limit was Rs 7.5 lakh, which was doubled later. Compared to other schemes, senior citizens get more interest in this scheme. People of 60 years or above can choose this pension plan.

This is how you will get monthly pension of Rs 18500

If both husband and wife want to take advantage of this scheme, then both will have to invest an amount of 15 lakh rupees in the Pradhan Mantri Vaya Vandana Yojana, that is, a total of 30 lakh rupees. 7.40 percent annual interest will also be available on this scheme.

Accordingly, the annual interest on the investment will be Rs 222000. If it is divided in 12 months, then an amount of Rs 18500 is formed, which you will get as monthly pension. There is also a plan in this scheme that only one person can invest in this scheme. If you invest Rs 15 lakh, then the annual interest will be Rs 111000 and his monthly pension will be Rs 9250.

Full amount back in 10 years

This plan is for 10 years. Monthly pension will continue to be received on your deposited money. If you remain in the scheme for 10 years then after 10 years your invested money will be returned to you. You can surrender this scheme at any time.

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In this, the government has also made an important announcement for senior citizens, whose benefit is also going to be given to them. The government has made an important announcement for the savings scheme of senior citizens, the benefit of which is going to be available to many people.

Senior Citizen Saving Scheme

In her budget speech, Finance Minister Nirmala Sitharaman has given an important gift to senior citizens in the savings scheme. The Finance Minister has increased the maximum deposit level of Senior Citizens’ Savings Scheme from 15 lakhs. The Finance Minister said that it has been proposed to increase the deposit in the Senior Citizens Savings Scheme from Rs 15 lakh to Rs 30.

With the announcement made in the budget, people will now be able to deposit Rs 30 instead of Rs 15 lakh in the Senior Citizens Saving Scheme . In such a situation, people will get the benefit of depositing Rs 30 lakh through this scheme. The benefit of increasing the deposit amount will be given to those people who wanted to invest more than Rs 15 lakh in these schemes.

Apart from this, it has been announced by the government that the maximum deposit limit for the Monthly Income Account Scheme has been increased from Rs 4.5 lakh to Rs 9 lakh for single accounts and from Rs 9 lakh to Rs 15 lakh for joint accounts. has also been proposed. People are going to get a lot of relief from this too.

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Let us tell you that the budget before the Lok Sabha elections is the last full budget of the second term of the Modi government. This budget before the 2024 Lok Sabha elections is being considered very important. This budget of India is going to be presented at a time when the world’s major economies have slowed down and are heading towards a possible recession.

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Only 23 days after the presentation of the budget, Russia attacked Ukraine and the war that started between the two countries is still going on. But this war put the whole world in trouble. There was a huge jump in the prices of all other commodities including crude oil. The prices of food and drink skyrocketed, especially wheat and edible oil. And its effect was also seen in India.

In April 2022, the retail inflation rate reached 7.79 percent. And after that remained above 7 percent for several months.  From petrol diesel to cooking gas and PNG-CNG became expensive. After the rise in the inflation rate, the Reserve Bank of India started making loans expensive, then the EMI of the people became expensive. Firstly, the common man was troubled by inflation, on top of that the banks made the EMI expensive 5-6 times. Due to which the budget of every household has deteriorated.

In such a situation, the eyes of the taxpayers are on the fifth budget of the second term of the Modi government. The question arises whether the Modi government will give relief to the taxpayers by reducing the tax rate.

There is no benefit of tax rebate on income above 5 lakhs.

During the meeting with the stakeholders regarding the budget, the stakeholders have demanded the Finance Minister to reduce the tax burden on common taxpayers and rationalize it. At present, no tax has to be paid on income up to Rs 2.50 lakh. But 5% tax has to be paid on income from Rs 2.50 to Rs 5 lakh.

Those whose income is less than Rs 5 lakh, the government gives tax rebate of up to Rs 12,500 under rule 87A. That is, those with taxable income less than Rs 5 lakh do not have to pay any tax. But if the taxable income of a taxpayer is more than Rs 5 lakh and less than Rs 10 lakh, then he has to pay 20% tax directly. Such people do not even get the benefit of Rs 12,500 tax rebate under 87A. And 20 percent tax has to be paid on income above 5 lakhs and 30 percent tax on income above 10 lakhs.

Relief to corporate, burden on taxpayers!

For example, if a taxpayer’s taxable income is Rs 7 lakh, then he has to pay tax of Rs 52,500, and if someone’s taxable income is Rs 12 lakh, he has to pay tax of Rs 1,72,500. Actually taxpayers have to pay 20% tax directly after 5%. There is no middle tax slab of 10 per cent. That’s why there is a demand to rationalize the tax slabs. The government has reduced the corporate rates in 2019 but has not given any relief to the common taxpayers. While taxpayers have had to face inflation since the Corona period in the last few years.

Chances of reduction in tax slab rate!

In such a situation, taxpayers want the government to change the tax slab rate. It is not at all fair to collect 20% income tax directly after 5%. Tax experts are demanding to increase the income tax exemption limit from Rs 2.50 lakh to Rs 5 lakh and to impose 10% tax on income between Rs 5 to 10 lakh. Anyway, this is the last full budget of the Modi government before the Lok Sabha elections, in such a way taxpayers hope that the Modi government will not disappoint them.

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What is Vaya Vandana Yojana?

Pradhan Mantri Vaya Vandana Yojana is a social security scheme. Under which the beneficiary will get monthly pension. It has been brought by the Government of India, while this scheme is being operated by Life Insurance Corporation of India (LIC).

If both husband and wife have crossed the age of 60 years, then they can invest a maximum of Rs 15 lakh. Earlier the investment limit was Rs 7.5 lakh, which was doubled later. Compared to other schemes, senior citizens get more interest in this scheme. People of 60 years or above can choose this pension plan.

This is how you will get monthly pension of Rs 18500

If both husband and wife want to take advantage of this scheme, then both will have to invest an amount of 15 lakh rupees in the Pradhan Mantri Vaya Vandana Yojana, that is, a total of 30 lakh rupees. 7.40 percent annual interest will also be available on this scheme.

Accordingly, the annual interest on the investment will be Rs 222000. If it is divided in 12 months, then an amount of Rs 18500 is formed, which you will get as monthly pension. There is also a plan in this scheme that only one person can invest in this scheme. If you invest Rs 15 lakh, then the annual interest will be Rs 111000 and his monthly pension will be Rs 9250.

Full amount back in 10 years

This plan is for 10 years. Monthly pension will continue to be received on your deposited money. If you remain in the scheme for 10 years then after 10 years your invested money will be returned to you. You can surrender this scheme at any time.

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Modi government has started many schemes for the general public of the country. Today we will tell you about such a scheme, in which the government will give you Rs 20,000 every month. The name of this scheme is National Pension Scheme.

Old age will be secure

National Pension Scheme is a government scheme, through which your old age remains secure. The special thing is that there is zero risk in it and money is also guaranteed. This scheme was started in the year 2004 for the government employees. At the same time, in the year 2009, this scheme was opened for all categories.

40% annuity has to be invested. Under this scheme, you have to invest for a long period of time in your working life. In this scheme, you have to invest 40% of the amount in annuity. It is from the amount of annuity that you get pension later on.

What are the benefits of the scheme-

>> In this scheme you can start with Rs.1000.
>> People from 18 to 70 years can take advantage of this scheme.
>> 60% amount will be track free on final withdrawal.
>> Contribution limit in NPS account is 14 percent.
>> The amount invested in the purchase of annuity is also completely exempt from tax.

Will get more than Rs 20,000 every month

If you invest Rs 1000 a month in this scheme at the age of 20, then till retirement you will have a total fund of Rs 5.4 lakh. There will be 9 to 12 percent return on this, due to which this investment will increase to 1.05 crores. If 40 percent of the corpus is converted into one year, then this prize will be Rs 42.28 lakh. Accordingly, assuming an annual rate of 10 percent, you will get a pension of Rs 21,140 every month. Along with this, you will get a lump sum amount of about Rs 63.41 lakh.

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The government has made a big change in the ITR rules. From now on, certain people will not have to file income tax returns. Finance Minister Nirmala Sitharaman had announced this in the budget.

The Finance Ministry has announced that from now onwards such senior citizens above 75 years of age will not have to file income tax returns. Let us tell you that those senior citizens who have only pension or interest from the bank, then they will not have to file ITR. The Finance Ministry has given information about this by tweeting.

Under which act will you get the benefit?

The government has told that a new section Section 194P has been added to the Income Tax Act, 1961, under which senior citizens will get this benefit.

As announced in Budget FY 2022-23, senior citizens above 75 years of age, having only pension and interest income, are now exempted from filing Income Tax Return. #PromisesDelivered pic.twitter.com/iuyIzyQPnJ

— NSitharamanOffice (@nsitharamanoffc) January 5, 2023

CBDT has given the information While giving the information, the Central Board of Direct Taxes has told that a notification has been issued regarding this. Apart from this, amendments have also been made in Rule 31, Rule 31A, Form 16 and 24Q and this sector has been operationalized.

The last date to start manufacturing has been extended by 1 year for full tax benefits as promised . Now its last date has been made 31 March 2024. The Income Tax Act provides many concessions and exemptions along with making provisions for tax on the income of the citizens. Tax payers also get a lot of relief from these concessions and exemptions. Keeping this in mind, an important decision was taken by the Modi government in the budget of 2018.

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This scheme was started by the central government on 26 May 2020. Couples can invest till 31 March 2023 to take advantage of this scheme. If both husband and wife want, then after the age of 60, they can take advantage of it. Know about the complete plan.

What is Vaya Vandana Yojana?

Pradhan Mantri Vaya Vandana Yojana is a social security scheme. Under which the beneficiary will get monthly pension. It has been brought by the Government of India, while this scheme is being operated by Life Insurance Corporation of India (LIC).

If both husband and wife have crossed the age of 60 years, then they can invest a maximum of Rs 15 lakh. Earlier the investment limit was Rs 7.5 lakh, which was doubled later. Compared to other schemes, senior citizens get more interest in this scheme. People of 60 years or above can choose this pension plan.

This is how you will get monthly pension of Rs 18500

If both husband and wife want to take advantage of this scheme, then both will have to invest an amount of 15 lakh rupees in the Pradhan Mantri Vaya Vandana Yojana, that is, a total of 30 lakh rupees. 7.40 percent annual interest will also be available on this scheme.

Accordingly, the annual interest on the investment will be Rs 222000. If it is divided in 12 months, then an amount of Rs 18500 is formed, which you will get as monthly pension. There is also a plan in this scheme that only one person can invest in this scheme. If you invest Rs 15 lakh, then the annual interest will be Rs 111000 and his monthly pension will be Rs 9250.

Full amount back in 10 years

This plan is for 10 years. Monthly pension will continue to be received on your deposited money. If you remain in the scheme for 10 years then after 10 years your invested money will be returned to you. You can surrender this scheme at any time.

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Reuters has given this report citing two government sources. However, the Finance Ministry did not respond to an email sent by Reuters in this matter. It has been told in the report that this time the limit of income tax exemption can be increased from 2.5 lakh to 5 lakh.

At the same time, many people are also saying that the income tax rates and slabs which were applicable in the assessment year 2022-23, can remain applicable in the new assessment year (AY 2023-24) as well. Let us tell you that Finance Minister Nirmala Sitharaman will present the budget on 1 February 2023.

Income up to 2.5 lakh is tax free.

If the income tax limit is increased by changing the income tax slab, then the maximum benefit will be to the employed people and small businessmen. Currently, no tax is payable on income up to Rs 2.5 lakh. Income up to Rs 3 lakh for persons in the age group of 60-80 years and Rs 5 lakh for senior citizens above 80 years of age is tax free.

Tax exemption limit may be 5 lakhs

According to media reports, this time the limit of 2.5 lakhs can be increased to 5 lakhs. If this happens, then you will not have to pay any income tax if your annual income is up to 5 lakhs. Apart from this, it is necessary to file ITR for those earning more than 2.50 lakhs. After this this limit will be 5 lakhs.

There has been no change in the income tax slab for the last 9 years. The last time in the year 2014, the government increased the income tax exemption limit. This change was the first general budget of the first term of the Narendra Modi government. Now in the year 2023, Finance Minister Nirmala Sitharaman will present the last full budget of the second term of the Modi government. The Finance Minister can present the Union Budget on February 1, 2023.

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If you too are planning to start a startup by getting influenced by some selected unicorns, then this news is of your use. Such a portal is being started by the government, which will prove to be very useful for those who want to start a startup or get information about it.

Piyush Goyal will start

It was said on behalf of the Ministry of Commerce that the ‘Marg’ portal, which guides startups in different geographical conditions, work areas, will start from January 16. The MARG Portal (Consultation, Advice, Cooperation, Strengthening and Growth) platform will be inaugurated by Commerce and Industry Minister Piyush Goyal. On behalf of the ministry, it was said that it will provide guidance between startups and enterprises of different sectors, stages and functions.

He said that in the Marg portal, startups will be able to contact the mentors and also get information about their problems. Through the discussion here, many things can be solved easily. Piyush Goyal will also award such startups and entrepreneurs in the program on Monday (January 16), which have not only earned financial income but have also made an impact on the society and demonstrated their extraordinary potential.

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Budget 2023: Since the year 2014, when the Modi government took over the reins of the country, many important decisions have been taken by the government. Along with this, there have been many such decisions in these decisions, through which old practices have also been broken by the government. One such decision was taken by the Modi government in its first term. This decision was regarding the budget and an old practice was broken by the Modi government. After this, he was also appreciated in the country.

Union budget

Actually, earlier the general budget presented by the central government was different and the railway budget was different. But an important decision in the Modi government was taken in the year 2017 regarding the budget. During that time, it was decided by the Modi government that now the general budget and railway budget will not be presented separately and both will be presented together.

Railway budget

The decision to present the general budget and the railway budget together is counted among the major decisions of the Modi government and the practice that has been going on for 92 years was also broken by the Modi government, due to which the Modi government took Seeing the big decisions, the country was also shaken. Let us inform that in 1924, a separate railway budget was started through the British. Whereas the merger of Railway and General Budget does not affect the functional autonomy of Railways but helps in increasing the capital expenditure.

Budget

The 92-year-old tradition of presenting the country’s general budget and railway budget separately was ended by the then Finance Minister Arun Jaitley in the Modi government. In the year 2017, Jaitley presented the country’s first combined budget by combining the general budget and the railway budget. The change was based on several recommendations from various stakeholders and allowed the government to take a more holistic approach towards the transport sector.

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What is Vaya Vandana Yojana?

Pradhan Mantri Vaya Vandana Yojana is a social security scheme. Under which the beneficiary will get monthly pension. It has been brought by the Government of India, while this scheme is being operated by Life Insurance Corporation of India (LIC).

If both husband and wife have crossed the age of 60 years, then they can invest a maximum of Rs 15 lakh. Earlier the investment limit was Rs 7.5 lakh, which was doubled later. Compared to other schemes, senior citizens get more interest in this scheme. People of 60 years or above can choose this pension plan.

This is how you will get monthly pension of Rs 18500

If both husband and wife want to take advantage of this scheme, then both will have to invest an amount of 15 lakh rupees in the Pradhan Mantri Vaya Vandana Yojana, that is, a total of 30 lakh rupees. 7.40 percent annual interest will also be available on this scheme.

Accordingly, the annual interest on the investment will be Rs 222000. If it is divided in 12 months, then an amount of Rs 18500 is formed, which you will get as monthly pension. There is also a plan in this scheme that only one person can invest in this scheme. If you invest Rs 15 lakh, then the annual interest will be Rs 111000 and his monthly pension will be Rs 9250.

Full amount back in 10 years

This plan is for 10 years. Monthly pension will continue to be received on your deposited money. If you remain in the scheme for 10 years then after 10 years your invested money will be returned to you. You can surrender this scheme at any time.

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But before this, the Finance Minister is being informed about their demands on behalf of different sectors. Along with this, the Union Finance Minister is being demanded to give relief in the upcoming budget.

Modi government’s last budget

Sources also claim that the government is thinking of giving relief to both farmers and employed people in this budget. Actually, this will be the last budget of the Modi government before the 2024 Lok Sabha elections. In the Union Budget, the limit of savings under section 80C is expected to be increased from Rs 1.5 lakh to Rs 2.5 lakh. In the Pre-Budget Memorandum 2023 from ICAI, the common man has been asked to save more.

Demand for relief for a long time There is a demand from the common man to give relief under 80C for a long time. ICAI has also demanded to increase the investment limit in Public Provident Fund (PPF). At present this limit is 1.5 lakh, which is being demanded to be increased to 3 lakh. ICAI’s argument behind the demand for increasing the PPF limit is that it is a safe investment option for businessmen and job professionals.

Due to the accumulation of PF of the employed, there is not much scope for investment under it. In such a situation, he has limited options for tax saving. For the last several years, there is a demand to increase the limit of Rs 1.5 lakh under 80C. Apart from this, ICAI has also requested the Finance Ministry to increase the limit of expenditure under 80DDB.

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What is Vaya Vandana Yojana?

Pradhan Mantri Vaya Vandana Yojana is a social security scheme. Under which the beneficiary will get monthly pension. It has been brought by the Government of India, while this scheme is being operated by Life Insurance Corporation of India (LIC).

If both husband and wife have crossed the age of 60 years, then they can invest a maximum of Rs 15 lakh. Earlier the investment limit was Rs 7.5 lakh, which was doubled later. Compared to other schemes, senior citizens get more interest in this scheme. People of 60 years or above can choose this pension plan.

This is how you will get monthly pension of Rs 18500

If both husband and wife want to take advantage of this scheme, then both will have to invest an amount of 15 lakh rupees in the Pradhan Mantri Vaya Vandana Yojana, that is, a total of 30 lakh rupees. 7.40 percent annual interest will also be available on this scheme.

Accordingly, the annual interest on the investment will be Rs 222000. If it is divided in 12 months, then an amount of Rs 18500 is formed, which you will get as monthly pension. There is also a plan in this scheme that only one person can invest in this scheme. If you invest Rs 15 lakh, then the annual interest will be Rs 111000 and his monthly pension will be Rs 9250.

Full amount back in 10 years

This plan is for 10 years. Monthly pension will continue to be received on your deposited money. If you remain in the scheme for 10 years then after 10 years your invested money will be returned to you. You can surrender this scheme at any time.

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Dearness allowance arrears for 18 months. It has been clearly stated by the government that it is not practical to issue arrears of Dearness Allowance for 18 months. If you remember, during the Corona epidemic, the work was done to stop the Dearness Allowance (DA) received by the central employees and Dearness Relief (DR) of the pensioners.

Minister of State for Finance Pankaj Chowdhary gave a written reply to a question in the Rajya Sabha recently in this regard, in which it was clearly stated that the release of outstanding installments of dearness allowance and dearness relief to central government employees and pensioners, which were stopped during the Corona period, is not possible from anywhere. Doesn’t seem practical. Due to the adverse effects of Covid in the year 2020 and the welfare measures taken by the Centre, its fiscal impact was seen after the financial year 2020-21.

Central government received application in this regard

Minister of State for Finance Pankaj Chowdhary informed the House that the government has received several applications from various employees’ and pensioners’ associations regarding release of DA and DR for 18 months. Let us discuss here that in view of the economic situation caused by the epidemic, the government had done the work of stopping the 3 installments of DA and DR payable from January 1, 2020 to January 1, 2021.

Later, the Modi government gave gifts to the employees.

It is worth mentioning that a month before Diwali, the Modi government at the center had spread a smile on the faces of the central employees. The dearness allowance (DA) of central employees was increased by 4 percent by the central government. Central employees used to get 34 per cent DA, which has now been increased to 38 per cent.

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At the same time, the budget 2023 is also going to be presented by the central government soon. The government can make many announcements in this budget. Meanwhile, a scheme of the government is quite popular, in which tax exemption is also available. Investors can invest in this scheme of the government annually and get better returns. At the same time, tax exemption is also available in this scheme.

Long term planning We are talking about Public Provident Fund (PPF). Public Provident Fund (PPF) scheme is a very popular long term savings scheme in India due to its combination of tax savings, returns and safety. The PPF scheme was launched in 1968 through the National Savings Institute of the Ministry of Finance. The objective of this scheme is to help people to make small savings and give good returns on savings.

Tax exempt

PPF plans offer attractive interest rates and no tax is to be paid on the returns generated from the interest rates. Which saves a lot. On the other hand, when a person withdraws money from the PPF account, then the amount saved as well as the interest generated is exempt from tax.

Can’t close before time

Invest in this scheme for 15 years and after that tenure can be extended for 5-5 years. At the same time, a minimum of Rs 500 and a maximum of Rs 1.5 lakh can be invested annually in this scheme. Whereas the maturity amount depends on the investment tenure. However, you cannot close the Public Provident Fund account prematurely.

Tax Benefits

Public Provident Fund is one such investment which comes under the Exempt-Exempt-Exempt (EEE) category. This means that the amount you deposit in the Public Provident Fund will be deductible under section 80C of the Income Tax Act. When you withdraw the money, the amount deposited and interest will be exempt from tax. It should be noted that you cannot close the Public Provident Fund account before maturity.

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What is Vaya Vandana Yojana?

Pradhan Mantri Vaya Vandana Yojana is a social security scheme. Under which the beneficiary will get monthly pension. It has been brought by the Government of India, while this scheme is being operated by Life Insurance Corporation of India (LIC).

If both husband and wife have crossed the age of 60 years, then they can invest a maximum of Rs 15 lakh. Earlier the investment limit was Rs 7.5 lakh, which was doubled later. Compared to other schemes, senior citizens get more interest in this scheme. People of 60 years or above can choose this pension plan.

This is how you will get monthly pension of Rs 18500

If both husband and wife want to take advantage of this scheme, then both will have to invest an amount of 15 lakh rupees in the Pradhan Mantri Vaya Vandana Yojana, that is, a total of 30 lakh rupees. 7.40 percent annual interest will also be available on this scheme.

Accordingly, the annual interest on the investment will be Rs 222000. If it is divided in 12 months, then an amount of Rs 18500 is formed, which you will get as monthly pension. There is also a plan in this scheme that only one person can invest in this scheme. If you invest Rs 15 lakh, then the annual interest will be Rs 111000 and his monthly pension will be Rs 9250.

Full amount back in 10 years

This plan is for 10 years. Monthly pension will continue to be received on your deposited money. If you remain in the scheme for 10 years then after 10 years your invested money will be returned to you. You can surrender this scheme at any time.

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The opposition was seen besieging the Modi government in the Parliament on the front of the economy. However, Finance Minister Nirmala Sitharaman also responded to this siege in her own style. Whose video is also going viral now.

Economy on growth

In fact, on the issue of economy, Union Finance Minister Nirmala Sitharaman replied during the question hour in the Lok Sabha. During this, Nirmala Sitharaman said that India’s economy was in ICU during the rule of Congress. India’s economy is developing under Modi government. At the same time, Nirmala targeted the opposition and said that the opposition is jealous of us on the issue of economy.

they don’t have much effect

Finance Minister Nirmala Sitharaman said that even due to the epidemic like Corona Virus, India’s economy was not affected. Apart from this, the whole world was affected by the war between Russia and Ukraine, but India’s economy was not much affected by it and India’s economy is on the path of growth.

Shared video

कांग्रेस के राज मे भारत की अर्थव्यवस्था ICU मे थी, Fragile Five मे थी…
आज COVID-19 महामारी, रूस-यूक्रेन युद्ध के बावजूद भारत की अर्थव्यवस्था विश्व की Fastest Growing Economy है।

– श्रीमती @nsitharaman लोकसभा के प्रश्नकाल के दौरान। pic.twitter.com/wm4yJ5A7aZ

— NSitharamanOffice (@nsitharamanoffc) December 12, 2022

At the same time, the video of what Nirmala Sitharaman said during the Question Hour in the Lok Sabha has also been shared on her Twitter account. While sharing the video, Sitharaman wrote, ‘India’s economy was in ICU during Congress rule, it was in Fragile Five…

Today, despite the COVID-19 pandemic, the Russia-Ukraine war, India’s economy is the world’s Fastest Growing Economy.’

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As soon as the Modi government came to power in the year 2014, the investment limit in PPF was increased, due to which more tax exemption was available. At the same time, a big cut has been made in its interest rates in a decade.

Since the year 2013, the interest rates on PPF are continuously decreasing. In the year 2014, the government increased the investment limit in PPF from Rs 1 lakh to Rs 1.5 lakh annually. However, since then the interest rate has come down from 8.8 per cent to 7.1 per cent. That is, within just a decade, the interest rates on this scheme have come down by 1.7 percent. If you look at the official figures, the interest on PPF was 8.8 per cent in the year 2013, which has now come down to 7.1 per cent.

Interest decreasing year by year

Talking about interest on PPF, from April 1, 2013 to March 31, 2014, the total interest was 8.7 per cent and the investment limit was Rs 1 lakh. After this, from April 1, 2014 to March 31, 2016, the investment limit was increased to Rs 1.5 lakh, while the interest rate remained the same at 8.7 percent. Between April 2016 and September 2016, the PPF interest rate was revised and it came down to 8.1 per cent.

Interest kept decreasing further

After this, between October 2016 and March 2017, the interest rate of PPF decreased again and it came down to 8 percent. This process did not stop and till June 2017 its rate fell to 7.9 percent. By September, the PPF interest rate had come down to 7.8 per cent. Then between January and September 2018, it declined further by 0.20 per cent. The interest came down to 7.6 per cent.

Big reduction in the Corona

period Its interest rate increased between October 2018 and June 2019 and reached 8 percent, but it declined again from July 2019 to March 2020 and the effective interest rate came down to 7.9 percent. Then came the time of the Corona period and the government reduced its interest rate to 7.1 percent in April 2020, which is still maintained. In this, the maximum limit of the investor remains 1.5 lakh only.

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If the government gives this good news to the central employees, then the new year will be no less than a gift for them. If the Modi government fulfills the three demands related to the salary of the central employees, then their salary can increase substantially.

Only a few days are left for the new year to begin and government employees are pinning many hopes on the Modi government for the new year. If the government gives this good news to the central employees, then the new year will be no less than a gift for them.

If the Modi government fulfills the three demands related to the salaries of the central employees, then there can be a bumper increase in their salaries. The government increases Dearness Allowance (DA) twice a year on January 1 and July 1. The government had increased the dearness allowance by 4 per cent to 38 per cent in September before Diwali. This hike was considered applicable from 1 July. Earlier, the government had increased DA in March. Then the government had increased the DA by 3 percent to 34 percent under the 7th Pay Commission.

There will be an increase in DA in the year 2023 (DA hike in 2023)

If media reports are to be believed then the government may increase DA and DR by 3 to 5 percent in March 2023. However, this DA hike will be considered applicable from January. If the government increases the Dearness Allowance and Dearness Relief (DR), then it will increase to 43 percent.

18-month DA arrears

DA arrears pending for 18 months from January 2020 to June 2021 during the time of Kovid. During this time the government did not increase the DA. Although, the government increases DA twice a year in January and July, but in this period DA was not increased due to Kovid. Employees are constantly demanding from the government to increase this DA.

Fitment factor to be revised

Central government employees have been demanding for a long time to increase the minimum basic pay from Rs 18,000 to Rs 26,000. He is demanding the government to increase the fitment factor from 2.57 per cent to 3.68 lakh per cent. If the government announces to increase the fitment factor, then the salary of the employees will increase. At present 18,000 is the minimum basic salary, which the employees want to increase.

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What is Vaya Vandana Yojana?

Pradhan Mantri Vaya Vandana Yojana is a social security scheme. Under which the beneficiary will get monthly pension. It has been brought by the Government of India, while this scheme is being operated by Life Insurance Corporation of India (LIC).

If both husband and wife have crossed the age of 60 years, then they can invest a maximum of Rs 15 lakh. Earlier the investment limit was Rs 7.5 lakh, which was doubled later. Compared to other schemes, senior citizens get more interest in this scheme. People of 60 years or above can choose this pension plan.

This is how you will get monthly pension of Rs 18500

If both husband and wife want to take advantage of this scheme, then both will have to invest an amount of 15 lakh rupees in the Pradhan Mantri Vaya Vandana Yojana, that is, a total of 30 lakh rupees. 7.40 percent annual interest will also be available on this scheme.

Accordingly, the annual interest on the investment will be Rs 222000. If it is divided in 12 months, then an amount of Rs 18500 is formed, which you will get as monthly pension. There is also a plan in this scheme that only one person can invest in this scheme. If you invest Rs 15 lakh, then the annual interest will be Rs 111000 and his monthly pension will be Rs 9250.

Full amount back in 10 years

This plan is for 10 years. Monthly pension will continue to be received on your deposited money. If you remain in the scheme for 10 years then after 10 years your invested money will be returned to you. You can surrender this scheme at any time.

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The government had recently increased DA

The government had increased DA and DR by 4 per cent in the month of September before Diwali. This benefited 48 lakh central government employees and 68 lakh pensioners of the country during the festive season. After this increase, it was considered applicable from 1 July 2022. With the increase of 4 per cent, the basic pay or pension of the employees has gone up to 38 per cent. Earlier the DA was revised in March.

Government will increase DA again next year

The government will increase DA again next year in March 2023. This time DA and DR can increase by 3 to 5 percent. If this happens, once again a big increase in the salary of the employees can be seen.

the salary was so high

The DA hike has increased the inflationary component of the salary of central government employees. For example, if someone’s salary is Rs 50,000 per month and gets Rs 15,000 as basic pay. Till now you get Rs 5,100, which is 34% of the basic pay. Now after the 4% increase, you will get Rs 5,700 per month, which is Rs 600 more than before. The central government revises allowances every year on January 1 and July 1.

Formula was changed in the year 2006

Earlier, in the beginning of the year 2022, the government had increased the DA by 3 percent to 34 percent. In the year 2006, the central government revised the calculation formula of DA and DR for central government employees and pensioners.

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In such a situation, if you are also planning to get the company registered, then this news is very important for you. This new system will replace over 50 form filings from web-based to PDF to transform the compliance and statutory filing architecture for businesses.

In such a situation, now people will not have to fill a 50-page form for the registration of the company. Now they will be able to fill the form easily through the software. The government will start this new system from the next month i.e. December 2022. This new form will cover every reporting requirement of a company including reporting of registered office and details of directors of the company, commencement of business certificate and many more.

Will issue public notice

According to media reports, the company may issue public notice for all new applicants during the change of system of registration. With this, during the transfer of this registration system, the process of registration of the new company will be stopped for some time. At the same time, businesses will be given additional time relief to fulfill their compliance obligations so that they do not face any kind of trouble and can complete their work.

This new system will speed up the registration process, this step of the government will speed up the work of the registration process of the new company. In the earlier system, all the work was done manually, due to which the registration of the company took a long time and there were chances of many filing errors. The government is taking the help of IT to speed up this new system.

Government to take help of IT

Revised version of company filing with web-based forms by government likely to employ new IT tools to improve user experience and streamline regulatory oversight of businesses Enables detection of governance irregularities as well as financial stress in the corporate sector.

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Most senior citizens want to invest their post-retirement money in a place where they can get regular income. Along with this, their investment should also be safe. Pradhan Mantri Vaya Vandana Yojana, a well-known scheme of the Modi government, has been made keeping in mind the needs of senior citizens. Both husband and wife can invest in this scheme together. Both husband and wife will get a pension of Rs 18,500. Let’s know about this plan..

Pradhan Mantri Vay Vandana Yojana – Husband and wife will get Rs 18,500

The Modi government launched this scheme on 4 May 2017 keeping in mind the needs of senior citizens. This scheme was started to provide social security to senior citizens. LIC is running this scheme for the government. Earlier the limit to invest in it was Rs 7.50 lakh but now it has been increased to Rs 15 lakh.

Get this much interest

In Pradhan Mantri Vaya Vandana Yojana, 7.4 percent interest is available annually. Now people above 60 years of age can invest Rs 15 lakh in it. Both husband and wife can invest in this scheme. If both husband and wife invest Rs 15 lakh each in this scheme at the age of 60, then both of them will get a pension of Rs 18,300. If one of the husband and wife invests Rs 15 lakh, they will get Rs 9,250.

This is the complete calculation

All citizens above the age of 60 years can invest up to Rs 15 lakh. This investment will have to be made before March 31, 2023. In this, depending on the investment, a pension of Rs 1000 to Rs 9250 is available every month. If you invest a minimum of Rs 1.50 lakh, you will get an investment of Rs 1,000 every month. Rs 9,250 per month pension will be available on an investment of Rs 15 lakh. If husband and wife invest, then they will have to invest Rs 30 lakh and then both of you will get Rs 18,500 every month.

You can apply for pension scheme from here

You can get pension at 1 year, 6 months, 3 months and every month. It depends on which plan you have taken. This scheme can be taken both offline and online. You can buy online by visiting LIC’s website. You can also apply offline by visiting the branch of LIC. This plan is for 10 years. If the policyholder dies in the meantime, the basic amount will go to the nominee

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The Modi government had started a pension scheme a few years ago for the employees of the country’s informal sector . Pradhan Mantri Shram Yogi Maan-Dhan was started in 2019 by the Ministry of Labor and Employment. Under this scheme, Married Couple has to invest Rs 200 per month, due to which they will get an annual pension of Rs 72,000 after retirement.

What is Pradhan Mantri Shram Yogi Maan-Dhan Yojana?

Unorganized workers are mostly street vendors, mid-day meal workers, head loaders, brick kiln workers, cobblers, rag pickers, domestic workers, washer men, rickshaw pullers, landless labourers, agricultural workers, construction workers, beedi makers, handloom workers, Engaged as leather workers, audio-visual workers and other similar occupations and having a monthly income of Rs.15,000 per month or less and in the entry age group of 18-40 years are eligible for the scheme .

These workers are not covered under New Pension Scheme (NPS), Employees’ State Insurance Corporation (ESIC) scheme or Employees’ Provident Fund Organization (EPFO) and they do not come under the tax net.

This is how pension can be taken under PM-SYM scheme?

Here is a simple calculation to understand how a married couple can earn an annual pension of Rs 72,000. For example, if an individual is 30 years old, the monthly contribution to the scheme would be around Rs 100 per month – thus a couple’s contribution per month would be Rs 200. In this way, the annual contribution of that couple will be Rs 2,400. After the age of 60 years, the couple will get Rs 72,000 annually as pension (Rs 72,000 annual pension for couple).

Key Features of Pradhan Mantri Shram Yogi Maan-Dhan Yojana

Minimum Assured Pension: Under PM-SYM, every subscriber will get a minimum assured pension of Rs 3,000 per month after attaining the age of 60 years.

Family Pension: If the subscriber dies while receiving the pension, the spouse of the beneficiary shall be entitled to receive 50% of the pension received by the beneficiary as family pension. Family pension is applicable only for the spouse.

How to enroll for PM-SYM scheme?

Subscriber must have mobile phone, savings bank account and Aadhaar number. Eligible subscribers can enroll for PM-SYM by visiting nearest CSC and using Aadhaar number and savings bank account/Jan-Dhan account number on self-certification basis.

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If you also want to take advantage of this scheme, then you can apply for this scheme by 31 March 2023. Both husband and wife can take pension under this scheme after the age of 60. Know about this scheme.

What is Vaya Vandana Yojana?

Pradhan Mantri Vaya Vandana Yojana is a social security scheme. Under which there is a provision to give annual, quarterly or monthly pension to the applicant. Let us tell you that the Government of India has brought this scheme and this scheme is operated by the Life Insurance Corporation of India (LIC). Those people who are 60 years or more are eligible in this scheme. Under this scheme, they can invest a maximum of Rs 15 lakh. Let us tell you that earlier only Rs 7.5 could be invested in this scheme, but later this amount was increased to double. In this plan, compared to other plans, senior citizens get more interest.

How to get 51 thousand rupees a year

If both husband and wife want to take advantage of this scheme, then both will have to invest an amount of about Rs. An annual interest of 7.40 percent is also given on this scheme. Accordingly, the annual pension of the investor will be Rs 51 thousand 45. If you want to take this pension monthly, then every month you will get an amount of Rs 4100 as pension.

Will get full money after 10 years

Your investment in this scheme is for 10 years. You will be given annual or monthly pension for 10 years. If you remain in this scheme for 10 years, then after 10 years your investment will be returned to you. You can surrender in this plan anytime.

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These new guidelines for e-commerce companies will be applicable from 25 November. The purpose of these new rules is to clamp down on fake and paid reviews. After their implementation, e-commerce companies will no longer be able to get fake and paid reviews done.

Customers will be helped to buy the right product

Under the rules issued by the government on Monday, now paid reviews will have to be marked separately. This will help the customers. On the basis of consumer reviews, customers will be able to buy the right product. It has been agreed to implement the guidelines in e-commerce companies. Let us tell you that the guidelines are not mandatory right now. However, soon the guidelines will be made mandatory. Under the guidelines, if the companies do not agree, then strict action will be taken against the companies. This action will be taken under the Consumer Protection Act.

According to the rules, this matter will come under Unfair Trade Practice. Under this, there will be a provision to impose penalty on the companies. Companies can be fined up to Rs 10 lakh.

Let us tell you that due to such fake reviews, there have been cases related to influencing the customers, where they took the loss by buying the wrong product relying on the review. With the new guideline, it will be expected that people will be able to avoid such fake reviews in future.

Companies like Amazon, Flipkart have to be careful

The purpose of these guidelines is to protect the interests of the consumer and to bring out the correct information about a product. So that he can take the best decision regarding the purchase of goods. The scope of these guidelines will include positive reviews by companies for their products as well as negative reviews of other company’s products. With this step of the government, action will be taken against companies like Zomato, Swiggy, Naeca, Amazon and Flipkart.

Explain that e-commerce companies also give reviews of customers who have bought and are using that product along with any product. Their aim is to give correct information about the product to the customer. However, to increase sales, many times companies ask selected customers to write positive reviews for their products by giving them gifts etc.

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If media reports are to be believed, the government may soon increase the fitment factor. There has been a demand from the central employees to increase the fitting factor from 2.57 times to 3.68 times. The fitment factor is the revision of the basic salary . All categories of employees in the central government service get the benefit of fitment factor.

Now this is the basic salary

The current minimum basic salary for central employees as per the fitment factor is Rs 18,000 when the fitment factor is 2.57 times. Central employees, however, want it to be increased to 3.68 times. If this happens, the minimum wage for central employees will be Rs 26,000. If the fitment factor is increased to three times, the salary of the employees will see a big increase. The basic salary of a central employee is Rs 18,000. Total salary is 18,000 X 2.57 i.e. Rs 46260 after removing allowances. The salary being 26000 X 3.68 will be Rs 95680.

Salary will increase with allowances

The fitment factor has a significant impact on how much central employees are paid. According to the recommendations of the Seventh Pay Commission, the basic pay of the central employees is decided on the basis of their fitment factor and allowances. This is what can double or even triple the salaries of central employees. At present the fitment factor is 2.57 as per the recommendations of the 7th Pay Commission.

Government has increased DA

The Modi government has increased the Dearness Allowance ( DA ) for central employees from 34 percent to 38 percent with effect from July 1, 2022. This has definitely given some relief to the employees from inflation. However, now the employees are waiting for the increase in the fitment factor.

The post 7th Pay Commission: Modi government can increase the fitment factor after DA, there will be a bumper increase in the salary of the employees first appeared on Rightsofemployees.com.

What is Vaya Vandana Yojana?

Pradhan Mantri Vaya Vandana Yojana is a social security scheme. Under which the beneficiary will get monthly pension. It has been brought by the Government of India, while this scheme is being operated by Life Insurance Corporation of India (LIC).

If both husband and wife have crossed the age of 60 years, then they can invest a maximum of Rs 15 lakh. Earlier the investment limit was Rs 7.5 lakh, which was doubled later. Compared to other schemes, senior citizens get more interest in this scheme. People of 60 years or above can choose this pension plan.

This is how you will get monthly pension of Rs 18500

If both husband and wife want to take advantage of this scheme, then both will have to invest an amount of 15 lakh rupees in the Pradhan Mantri Vaya Vandana Yojana, that is, a total of 30 lakh rupees. 7.40 percent annual interest will also be available on this scheme.

Accordingly, the annual interest on the investment will be Rs 222000. If it is divided in 12 months, then an amount of Rs 18500 is formed, which you will get as monthly pension. There is also a plan in this scheme that only one person can invest in this scheme. If you invest Rs 15 lakh, then the annual interest will be Rs 111000 and his monthly pension will be Rs 9250.

Full amount back in 10 years

This plan is for 10 years. Monthly pension will continue to be received on your deposited money. If you remain in the scheme for 10 years then after 10 years your invested money will be returned to you. You can surrender this scheme at any time.

The post New LIC Pension Plan: Modi government will give Rs 18,500 a month to married people! just have to do this work first appeared on Rightsofemployees.com.

Couples can invest till 31 March 2023 to take advantage of this scheme. If both husband and wife want, then after the age of 60, they can take advantage of it. Know about the complete plan.

What is Vaya Vandana Yojana?

Pradhan Mantri Vaya Vandana Yojana is a social security scheme. Under which the beneficiary will get monthly pension. It has been brought by the Government of India, while this scheme is being operated by Life Insurance Corporation of India (LIC).

If both husband and wife have crossed the age of 60 years, then they can invest a maximum of Rs 15 lakh. Earlier the investment limit was Rs 7.5 lakh, which was doubled later. Compared to other schemes, senior citizens get more interest in this scheme. People of 60 years or above can choose this pension plan.

This is how you will get monthly pension of Rs 18500

If both husband and wife want to take advantage of this scheme, then both will have to invest an amount of 15 lakh rupees in the Pradhan Mantri Vaya Vandana Yojana, that is, a total of 30 lakh rupees. 7.40 percent annual interest will also be available on this scheme.

Accordingly, the annual interest on the investment will be Rs 222000. If it is divided in 12 months, then an amount of Rs 18500 is formed, which you will get as monthly pension. There is also a plan in this scheme that only one person can invest in this scheme. If you invest Rs 15 lakh, then the annual interest will be Rs 111000 and his monthly pension will be Rs 9250.

Full amount back in 10 years

This plan is for 10 years. Monthly pension will continue to be received on your deposited money. If you remain in the scheme for 10 years then after 10 years your invested money will be returned to you. You can surrender this scheme at any time.

The post Best LIC Pension Plan: Good News! Modi government will give Rs 18,500 a month to married people! just have to do this work first appeared on Rightsofemployees.com.

If media reports are to be believed, the government may soon increase the fitment factor. There has been a demand from the central employees to increase the fitting factor from 2.57 times to 3.68 times. The fitment factor is the revision of the basic salary . All categories of employees in the central government service get the benefit of fitment factor.

Now this is the basic salary

The current minimum basic salary for central employees as per the fitment factor is Rs 18,000 when the fitment factor is 2.57 times. Central employees, however, want it to be increased to 3.68 times. If this happens, the minimum wage for central employees will be Rs 26,000. If the fitment factor is increased to three times, the salary of the employees will see a big increase. The basic salary of a central employee is Rs 18,000. Total salary is 18,000 X 2.57 i.e. Rs 46260 after removing allowances. The salary being 26000 X 3.68 will be Rs 95680.

Salary will increase with allowances

The fitment factor has a significant impact on how much central employees are paid. According to the recommendations of the Seventh Pay Commission, the basic pay of the central employees is decided on the basis of their fitment factor and allowances. This is what can double or even triple the salaries of central employees. At present the fitment factor is 2.57 as per the recommendations of the 7th Pay Commission.

Government has increased DA

The Modi government has increased the Dearness Allowance ( DA ) for central employees from 34 percent to 38 percent with effect from July 1, 2022. This has definitely given some relief to the employees from inflation. However, now the employees are waiting for the increase in the fitment factor.

The post 7th Pay Commission: Modi government can increase the fitment factor after DA, there will be a bumper increase in the salary of the employees first appeared on Rightsofemployees.com.

Couples can invest till 31 March 2023 to take advantage of this scheme. If both husband and wife want, then after the age of 60, they can take advantage of it. Know about the complete plan.

What is Vaya Vandana Yojana?

Pradhan Mantri Vaya Vandana Yojana is a social security scheme. Under which the beneficiary will get monthly pension. It has been brought by the Government of India, while this scheme is being operated by Life Insurance Corporation of India (LIC).

If both husband and wife have crossed the age of 60 years, then they can invest a maximum of Rs 15 lakh. Earlier the investment limit was Rs 7.5 lakh, which was doubled later. Compared to other schemes, senior citizens get more interest in this scheme. People of 60 years or above can choose this pension plan.

This is how you will get monthly pension of Rs 18500

If both husband and wife want to take advantage of this scheme, then both will have to invest an amount of 15 lakh rupees in the Pradhan Mantri Vaya Vandana Yojana, that is, a total of 30 lakh rupees. 7.40 percent annual interest will also be available on this scheme.

Accordingly, the annual interest on the investment will be Rs 222000. If it is divided in 12 months, then an amount of Rs 18500 is formed, which you will get as monthly pension. There is also a plan in this scheme that only one person can invest in this scheme. If you invest Rs 15 lakh, then the annual interest will be Rs 111000 and his monthly pension will be Rs 9250.

Full amount back in 10 years

This plan is for 10 years. Monthly pension will continue to be received on your deposited money. If you remain in the scheme for 10 years then after 10 years your invested money will be returned to you. You can surrender this scheme at any time.

The post New LIC Pension Plan: Modi government will give Rs 18,500 a month to married people! just have to do this work first appeared on Rightsofemployees.com.

If you or any member of your family is a central government employee, then this news is useful. Before the coming of the new year, good news is coming for the government employees. The Old Pension Scheme (OPS) can be restored for the Central Government Employees in the coming time. Sources claim that the Modi government at the Center can consider this before the year 2024.

No concrete answer from the ministry, the government had sought the opinion of the Law Ministry regarding the old pension scheme on the demand of the employees. It was asked from which department the Old Pension Scheme (OPS) can be implemented? However, no concrete answer has been given by the ministry on this. Earlier in the last session of Parliament, Minister of State for Finance Bhagwat Karad had denied that the government was considering implementing the Old Pension Scheme.

Sources say that even though the government is denying it, the way the opposition party is focusing on this issue in the elections, a decision on old pension can be taken in the coming days . For those whose recruitment advertisements were issued on or before December 31, 2003 by the government, old pension can be considered for them.

3 big benefits of old pension scheme

1- Pension in OPS was made on the basis of last drawn salary.
2- With the increase in inflation rate in OPS, DA (Dearness Allowance) also increased.
3- When the government implements the new Pay Commission, it also increases the pension.

The Center had implemented the New Pension Scheme in the year 2004. Separate accounts were opened for the New Pension Scheme funds and a fund manager was also appointed to invest in the fund. The new employees can get a good amount at the time of retirement as compared to the old scheme if the pension fund investment returns are good. On this, the question of the employees is that the return of investment of pension fund will be better, how is it possible.

The post Pension Scheme: Good news on old pension scheme, it will be applicable for central employees from this day! first appeared on Rightsofemployees.com.

Sukanya Samriddhi Yojana: The Modi government of the Center is running Sukanya Samriddhi Yojana (SSY) for the bright future of the daughters. Investing in Sukanya Samriddhi Yojana is a better option.

Under which, by opening a Sukanya account in the name of the daughter and depositing money in it every year, one gets the benefit of lump sum amount in future. Large funds can be collected by investing in this scheme for the higher education of daughters, marriage etc. This is a scheme giving higher returns than FD of the bank.

If you also want to invest for your daughter’s marriage or higher education, then investing in Sukanya Samriddhi Yojana can prove to be better for you. There is no risk involved in investing in SSY. By investing in this scheme, you can save the future of your daughters. This scheme gives a return of 7.6%. Now under the Sukanya Samridhi Yojana, three daughters will be able to get the benefit of this scheme.

Account can be opened in the name of three daughters

Under Sukanya Samriddhi Yojana, accounts of only two daughters are opened under the same family. But if twin daughters are born in a family, then under this scheme account can be opened for three daughters instead of two. After 18 years in whose name the account is held. He can withdraw money during his studies and in need.

The parents investing in this scheme were earlier exempted from income tax on the account of two daughters only. Now the exemption has been implemented for the third daughter by changing it.

When can I withdraw money?

This scheme will mature when the daughter turns 21. The money deposited in it cannot be withdrawn till the girl child turns 18. Even after 18 years, only 50% of the total amount can be withdrawn from this scheme. Full money will be given when the daughter turns 21. Money can be received in a lump sum or in installments. You will get money only once in a year. You can take money in installments for a maximum period of five years.

Can SSY account be closed?

If the account holder dies in Sukanya Samriddhi Yojana, then the account can be closed by showing the death certificate. After this, the amount deposited in the Sukanya Samriddhi Yojana account can be given back to the guardian of the girl child along with interest.

In other cases, the SSY account can be closed after five years from the date of opening. This can also be done in many circumstances. For example, it can be closed in case of life threatening diseases. Even after this, if the account is being closed for any other reason, then it can be allowed, but the interest on it will be according to the savings account.

The post Sukanya Samriddhi Yojana: Big changes in Sukanya Samriddhi Yojana, know when you can withdraw full money first appeared on Rightsofemployees.com.

What is Vaya Vandana Yojana?

Pradhan Mantri Vaya Vandana Yojana is a social security scheme. Under which the beneficiary will get monthly pension. It has been brought by the Government of India, while this scheme is being operated by Life Insurance Corporation of India (LIC).

If both husband and wife have crossed the age of 60 years, then they can invest a maximum of Rs 15 lakh. Earlier the investment limit was Rs 7.5 lakh, which was doubled later. Compared to other schemes, senior citizens get more interest in this scheme. People of 60 years or above can choose this pension plan.

This is how you will get monthly pension of Rs 18500

If both husband and wife want to take advantage of this scheme, then both will have to invest an amount of 15 lakh rupees in the Pradhan Mantri Vaya Vandana Yojana, that is, a total of 30 lakh rupees. 7.40 percent annual interest will also be available on this scheme.

Accordingly, the annual interest on the investment will be Rs 222000. If it is divided in 12 months, then an amount of Rs 18500 is formed, which you will get as monthly pension. There is also a plan in this scheme that only one person can invest in this scheme. If you invest Rs 15 lakh, then the annual interest will be Rs 111000 and his monthly pension will be Rs 9250.

Full amount back in 10 years

This plan is for 10 years. Monthly pension will continue to be received on your deposited money. If you remain in the scheme for 10 years then after 10 years your invested money will be returned to you. You can surrender this scheme at any time.

The post New LIC Pension Plan: Modi government will give Rs 18,500 a month to married people! just have to do this work first appeared on Rightsofemployees.com.

PM Kisan FPO Yojana 2022 : If you are also a beneficiary of the farmer scheme, then there is good news for you. In fact, the Modi government at the Center is constantly trying to increase the income of farmers and pay off their loans. Now the government is providing 15 lakh rupees to the farmers to start a new agricultural business. Let us know how you can take advantage of this scheme.

farmers will get 15 lakhs

For the financial help of the farmers, the government has started the ‘PM Kisan FPO Scheme’ scheme. Under this scheme, Rs 15 lakh will be given to the Farmers Producer Organization. The government will give financial assistance to farmers across the country to start a new agricultural business. To take advantage of this scheme, 11 farmers will have to form an organization or company together. This will also make it much easier for farmers to buy agricultural equipment or fertilizers, seeds or medicines.

apply like this

First of all go to the official website of National Agriculture Market.
Now the home page will open in front of you.
Now click on the option of FPO on the home page.
Now you click on the option of ‘Registration’.
Now the registration form will open in front of you.
Now fill the information asked in the form.
After this, you scan and upload the passbook or cancel check and ID proof.
Now you click on the submit option.

Login like this

If you want to login, first of all go to the official website of National Agriculture Market.
Now the home page will open in front of you.
After this you click on the option of FPO.
Now you click on the option of login.
After this the login form will open in front of you.
Now enter username, password and captcha code in it.
With this you will log in.

The post PM Kisan Yojana: Modi government is giving full 15 lakh rupees to farmers, apply immediately; here’s the way first appeared on Rightsofemployees.com.

To take advantage of this scheme, one can invest till March 2023. Let us tell you that married couples can take advantage of this scheme after 60 years of age. So let’s know about this scheme in detail.

Know what is Vaya Vandana Yojana: Modi Government PMVVY Scheme

Let us tell you that the Prime Minister’s Vaya Vandana Yojana is a social security scheme through which monthly pension is given to the applicant. It has been implemented by the Government of India. With this, LIC is operating this scheme. If married people are above 60 years of age, then they can invest up to Rs 15 lakh in this scheme.

Know what is Vaya Vandana Yojana: Modi Government PMVVY Scheme

Let us tell you that the Prime Minister’s Vaya Vandana Yojana is a social security scheme through which monthly pension is given to the applicant. It has been implemented by the Government of India. With this, LIC is operating this scheme. If married people are above 60 years of age, then they can invest up to Rs 15 lakh in this scheme.

In this way, every month 10 thousand rupees will be available on investment. There is also a plan in this scheme that one member of the family can invest in this scheme. If you get 5 thousand rupees every month, then you will deposit 8,10,811 rupees.

Amount will be returned in 10 years:

Let us tell you that this scheme of the government is for 10 years and you will get pension every month on your deposited money. If you invest in this scheme for 10 years then all your invested money will be returned. You can surrender this scheme at any time.

The post Good News! Now married people will get Rs 10000 pension, know which is this scheme first appeared on Rightsofemployees.com.

This scheme was started by the central government on 26 May 2020. Couples can invest till 31 March 2023 to take advantage of this scheme. If both husband and wife want, then after the age of 60, they can take advantage of it. Know about the complete plan.

What is Vaya Vandana Yojana?

Pradhan Mantri Vaya Vandana Yojana is a social security scheme. Under which the beneficiary will get monthly pension. It has been brought by the Government of India, while this scheme is being operated by Life Insurance Corporation of India (LIC).

If both husband and wife have crossed the age of 60 years, then they can invest a maximum of Rs 15 lakh. Earlier the investment limit was Rs 7.5 lakh, which was doubled later. Compared to other schemes, senior citizens get more interest in this scheme. People of 60 years or above can choose this pension plan.

This is how you will get monthly pension of Rs 18500

If both husband and wife want to take advantage of this scheme, then both will have to invest an amount of 15 lakh rupees in the Pradhan Mantri Vaya Vandana Yojana, that is, a total of 30 lakh rupees. 7.40 percent annual interest will also be available on this scheme.

Accordingly, the annual interest on the investment will be Rs 222000. If it is divided in 12 months, then an amount of Rs 18500 is formed, which you will get as monthly pension. There is also a plan in this scheme that only one person can invest in this scheme. If you invest Rs 15 lakh, then the annual interest will be Rs 111000 and his monthly pension will be Rs 9250.

Full amount back in 10 years

This plan is for 10 years. Monthly pension will continue to be received on your deposited money. If you remain in the scheme for 10 years then after 10 years your invested money will be returned to you. You can surrender this scheme at any time.LIC Pension Scheme: Pradhan Mantri Vaya Vandana Yojana is being run by the Modi government. Under which monthly pension is guaranteed. This scheme was started by the central government on 26 May 2020. Couples can invest till 31 March 2023 to take advantage of this scheme. If both husband and wife want, then after the age of 60, they can take advantage of it. Know about the complete plan.

What is Vaya Vandana Yojana?

Pradhan Mantri Vaya Vandana Yojana is a social security scheme. Under which the beneficiary will get monthly pension. It has been brought by the Government of India, while this scheme is being operated by Life Insurance Corporation of India (LIC).

If both husband and wife have crossed the age of 60 years, then they can invest a maximum of Rs 15 lakh. Earlier the investment limit was Rs 7.5 lakh, which was doubled later. Compared to other schemes, senior citizens get more interest in this scheme. People of 60 years or above can choose this pension plan.

This is how you will get monthly pension of Rs 18500

If both husband and wife want to take advantage of this scheme, then both will have to invest an amount of 15 lakh rupees in the Pradhan Mantri Vaya Vandana Yojana, that is, a total of 30 lakh rupees. 7.40 percent annual interest will also be available on this scheme.

Accordingly, the annual interest on the investment will be Rs 222000. If it is divided in 12 months, then an amount of Rs 18500 is formed, which you will get as monthly pension. There is also a plan in this scheme that only one person can invest in this scheme. If you invest Rs 15 lakh, then the annual interest will be Rs 111000 and his monthly pension will be Rs 9250.

Full amount back in 10 years

This plan is for 10 years. Monthly pension will continue to be received on your deposited money. If you remain in the scheme for 10 years then after 10 years your invested money will be returned to you. You can surrender this scheme at any time.

The post LIC Issued New Pension Plan: Government will give Rs 18,500 a month to married people! just have to do this work immediately first appeared on Rightsofemployees.com.

The decision of Diwali bonus was taken in the meeting of the Union Cabinet. This was announced by Union Minister Anurag Thakur. He told that 11 lakh 27 thousand employees will be given 78 days performance link bonus of 1 lakh 8 thousand 32 crores which is Diwali bonus. Along with this some other important announcements have also been made.

big role of railway employees

This bonus is a productive linked bonus in which railway employees will be given 78 days salary for the financial year 2021-22. Railway employees play a big role in passenger and goods service, which strengthens the entire economy. Railway employees are engaged in their work day and night so that the supply is not disrupted in any corner of the country. These employees have a huge role in the supply of essential commodities. The whole country has seen the hard work of the employees during the Corona period. During that time, the employees played a big role in making the supply of food, coal, fertilizer uninterrupted.

📡𝐋𝐈𝐕𝐄 𝐍𝐎𝐖📡

राष्ट्रीय मीडिया केंद्र, नई दिल्ली में केंद्रीय मंत्री @ianuragthakur द्वारा कैबिनेट ब्रीफिंग

देखिए लाइव 📺
▶️फेसबुकः https://t.co/tstAZjCzbI
▶️यूट्यूबः https://t.co/QubgzNP8S7 https://t.co/FVHnn6YAg9

— पीआईबी हिंदी (@PIBHindi) October 12, 2022

The employee will get so much Rs. With the bonus of 78 days, the responsibility of crores of rupees will come on the exchequer. According to an estimate, Rs 1,832.09 crore will be given to railway employees as Diwali bonus. The salary calculation limit prescribed for payment of PLB is Rs 7,000 per month. Every railway employee will get the maximum amount 17,951 for 78 days.

Important decisions of the cabinet

Anurag Thakur said that a grant of 22 thousand crores has been given to Indian gas companies for the new effect of gas inflation in the international market on the people. It has been decided to build a container terminal on PPP model and to manufacture multi-purpose cargo at Deendayal Port of Gujarat. It has also been decided to make the registration of Multi Purpose Cooperative Society easy and transparent.

PM Divine Scheme has also been approved. Under this, Rs 6600 crore has been approved. This is a completely centrally sponsored scheme. A grant of 22 thousand crores has been given to Indian gas companies so that people do not have the effect of gas inflation in the international market. It has been decided to build a container terminal on PPP model and to make multi-purpose cargo at Deendayal Port of Gujarat.

The post Modi government’s gift to railway employees, 11.27 lakh people will get Diwali bonus first appeared on Rightsofemployees.com.

But the central government is preparing to give another gift to the central employees. The government is also considering increasing the House Rent Allowance after Dearness Allowance.

Let us tell you that according to the city in which the government employees are working, they are given house rent allowance. It is divided into three categories. Class X employees get house rent allowance at the rate of 27% of their basic pay. Y category employees get house rent allowance at the rate of 18 to 20 percent of their basic salary.

Whereas the employees of Z category are given house rent allowance at the rate of 9 to 10 percent. The house rent allowance is decided according to the area and city. It is believed that the house rent allowance of central employees can be increased by 3 to 4 percent from the current level.

Earlier on September 28, 2022, keeping in mind the festive season and back-breaking inflation, the Modi government has increased the dearness allowance of central employees from 34 per cent to 38 per cent. Which has been implemented from July 1, 2022 to February 2023.

On which Rs 6591 crore will be spent in a year and Rs 4394.24 crore will be spent from July to February in 2022-23. The government has also increased dearness relief to its pensioners.

The post 7th Pay Commission: Government can give gifts to government employees again, after DA Hike, another allowance may increase! first appeared on Rightsofemployees.com.

If this happens, the DA will be 38 per cent. Central employees can get increased dearness allowance in salary from October 1. With 38 per cent DA, the salary will increase to Rs 27,312. Also, DA arrears can also be received from July.

DA can increase so much

The post 7th pay commission: 27000 rupees will increase in the salary of government employees, DA will be increased on this date first appeared on Rightsofemployees.com.

Gehlot tweeted and said, “In line with the central government employees, the rate of dearness allowance of state employees and dearness relief payable to pensioners has been approved by 4 percent. Now 38 percent dearness allowance and dearness relief rate will be payable to state employees and pensioners from July 1, 2022.

Rajasthan CM Ashok Gehlot has approved an increase of 4% in Dearness Allowance of the state employees on the lines of the Central Govt employees. Now, a 38% dearness allowance will be payable to state employees & pensioners from July 1, 2022: Rajasthan CMO pic.twitter.com/fprYONDq1A

— ANI MP/CG/Rajasthan (@ANI_MP_CG_RJ) September 29, 2022

The expenditure of the state government will increase by Rs 1,096 crore.

Chief Minister Gehlot tweeted that the central government makes the announcement first but it is implemented after a long time while our government also distributes the increased amount with the announcement without delay. This decision of the state government will cost the Rajasthan government an additional cost of Rs 1,096 crore.

The new rate will be deemed to be applicable from July 1, 2022. This decision of the state government will benefit about 1.5 lakh employees and 3.5 lakh pensioners.

It is worth mentioning that yesterday (29 September) the central government had approved to increase the dearness allowance by 4 percent. This is the highest in the last dozen quarters. Earlier, the average DA has been increased only by 3 percent, but this time in view of the impact of inflation, the government has opened its treasury. Now 50 lakh central employees and 62 lakh pensioners will get DA of 38 percent. The increased amount of DA will be valid from July this year and the arrears of the previous months will also be given to the employees.

The post Dearness allowance Increased: This state government again increased dearness allowance, 38 % DA, know details Instantly first appeared on Rightsofemployees.com.

Apart from this, the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) has also been extended for three months in the cabinet meeting chaired by PM Modi. Now under this scheme, ration card holders will get the benefit of free ration from the government till December. Apart from this, railways has also got a big gift.

4% hike in DA announced

It is noteworthy that the current dearness allowance is 34 percent, which has now been increased by 4 percent to 38 percent. This decision of the government will directly benefit the existing 50 lakh central employees and 62 lakh pensioners. The employees were waiting for this hike since July. The increase in DA by the government will be applicable from July 1, 2022.

Earlier in March 2022, the government had announced to increase DA (Mehngai Bhatta) from January. At that time the DA of central employees was increased from 31 percent to 34 percent. Now it has increased to 38 percent. According to this, the employees will get DA Arrear of two months in the salary of September.

Free ration will be available till December

After the announcement of extending the Garib Kalyan Anna Yojana (PMGKAY) for three months, ration card holders will get the benefit of free ration from the government till December. This will directly benefit 80 crore people. The hint was already given to increase this scheme by the government. The Secretary of the Central Food Department had also indicated this. Let us tell you that the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) is the world’s largest food scheme.

Scheme started in 2020

It is noteworthy that the scheme was started by the central government in April 2020 during the Kovid period. Later in March 2022 it was extended for six months till September. Now the government has once again extended it for three months till December 2022. However, there was talk of extending it by six months in the media report.

Railway got tremendous gift

The cabinet has approved the proposal of Indian Railways for redevelopment of three major railway stations namely New Delhi, Ahmedabad and CSMT, Mumbai. Giving this information, Union Ministers Anurag Thakur and Ashwini Vaishnav said that an investment of about Rs 10,000 crore is involved in this project.

These railway stations will be redeveloped

Union Minister Ashwini Vaishnav said, “The Central Government has approved Rs 10,000 crore for the redevelopment of New Delhi, Chhatrapati Shivaji and Ahmedabad railway stations. At present, the work of reconstruction of a total of 199 railway stations is also going on.

Giving information, Union Minister Ashwini Vaishnav said, ‘New Delhi Railway Station will integrate train services with buses, auto and metro rail services. The redesign of Ahmedabad railway station is inspired by the Sun Temple of Modera and no changes will be made to the heritage building of CSMT, only the buildings around it will be redeveloped.

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What is Vaya Vandana Yojana?

Pradhan Mantri Vaya Vandana Yojana is a social security scheme. Under which the beneficiary will get monthly pension. It has been brought by the Government of India, while this scheme is being operated by Life Insurance Corporation of India (LIC).

If both husband and wife have crossed the age of 60 years, then they can invest a maximum of Rs 15 lakh. Earlier the investment limit was Rs 7.5 lakh, which was doubled later. Compared to other schemes, senior citizens get more interest in this scheme. People of 60 years or above can choose this pension plan.

This is how you will get monthly pension of Rs 18500

If both husband and wife want to take advantage of this scheme, then both will have to invest an amount of 15 lakh rupees in the Pradhan Mantri Vaya Vandana Yojana, that is, a total of 30 lakh rupees. 7.40 percent annual interest will also be available on this scheme.

Accordingly, the annual interest on the investment will be Rs 222000. If it is divided in 12 months, then an amount of Rs 18500 is formed, which you will get as monthly pension. There is also a plan in this scheme that only one person can invest in this scheme. If you invest Rs 15 lakh, then the annual interest will be Rs 111000 and his monthly pension will be Rs 9250.

Full amount back in 10 years

This plan is for 10 years. Monthly pension will continue to be received on your deposited money. If you remain in the scheme for 10 years then after 10 years your invested money will be returned to you. You can surrender this scheme at any time.

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Pradhan Mantri Garib Kalyan Anna Yojana was started in March 2020 Pradhan
Mantri Garib Kalyan Anna Yojana was launched in March 2020. Under this, about 80 crore beneficiaries included in the National Food Security Act (NFSA) are being given 5 kg of food grains per person per month free of cost. They are given free ration in addition to the subsidized food grains distributed through ration shops. This had helped the poor families a lot during the lockdown implemented due to the Covid-19 epidemic.

The duration of the scheme has been extended several times and now it is valid till 30 September. When asked about going ahead with the PMGKAY scheme, Pandey said, “The government has to decide.” On the sidelines of the Annual General Meeting of Roller Flour Millers Federation of India, the Food Secretary said, “These are big government decisions… The government will decide on this.”

In March, the government extended the PMGKAY scheme for another six months i.e. till September 2022, benefiting 80 crore beneficiaries . The government has spent about Rs 2.60 lakh crore on this scheme till March and another Rs 80,000 crore will be spent by September 2022. This will take the total expenditure under PMGKAY to about Rs 3.40 lakh crore. About 80 crore beneficiaries are covered in this scheme.

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However, it has not been officially announced yet. The announcement of increasing DA by the government can be done on 28 September i.e. during Navratri. This increased DA will be applicable from 1st July 2022. That is, employees are going to get more money in salary during festivals.

DA will be 38% After increasing the DA of the Central Government by 4 percent, the dearness allowance of government employees will be increased to 38 percent. At present, government employees are getting 34 per cent DA. After the increase of the government, DA area money for July and August will also be available in the salary for the month of September. This decision of the government will benefit the central employees and pensioners of the country.

Salary will increase up to Rs 27,000

The basic salary of the employees is Rs 56,900, they will get DA of Rs 21,622 if there is 38 percent dearness allowance. At present, Rs 19,346 is being received at the rate of 34 per cent at the rate of 34 per cent DA. The increase in DA by 4 percent will increase the salary by Rs 2,276. That is, about Rs 27,312 will increase annually.

Government employees will benefit

By increasing the dearness allowance of the government, 50 lakh employees and 65 lakh pensioners of the country will benefit as their salary will increase. At the beginning of the year, the government had increased the DA by 3 per cent, after which the dearness allowance had gone up to 34 per cent. Now due to increase in DA by 4 per cent, dearness allowance will increase to 38 per cent.

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