Tag: new pension scheme

UPS a new scheme, not rollback as claimed by Congress, says Finance Minister

August 27, 2024 admin

Finance Minister Nirmala Sitharaman said the new pension scheme is better and will satisfy most government employees. | Photo Credit: ANI Accusing Congress of spreading misinformation, Finance Minister Nirmala Sitharaman on Tuesday (August 27, 2024) said the newly launched UPS is a new pension scheme and not a rollback. “It is not a rollback… it…

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Union Budget 2024-25: Deduction of expenditure by employers towards New Pension Scheme is proposed to be increased to 14%

July 23, 2024 admin

Employees gather at Ramlila Maidan in New Delhi, during the “Pension Shankhnaad Maharally”. File | Photo Credit: Shiv Kumar Pushpakar Finance Minister Nirmala Sitharaman on July 23 said a solution will be evolved with respect to the New Pension Scheme (NPS) that will address relevant issues and ensure fiscal prudence. Last year, the finance ministry…

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Budget 2024: Where does the money come from and go?

July 23, 2024 admin

The government allocates 21% of its budget to the State’s portion of taxes and duties | Photo Credit: Pichumani K Finance Minister Nirmala Sitaraman presented the Narendra Modi government’s first full-fledged budget after the NDA secured third consecutive win. Budget 2024 LIVE Updates The Budget mentioned net tax receipts for 2024-25 at ₹25.83 lakh crore,…

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States Shifting To Old Pension Scheme Major Step Backwards: RBI Article

September 18, 2023 admin

Recently, some states have announced reversal to the OPS from NPS. (Representational) Mumbai: States reverting to the old pension scheme is a “major step backwards” and may take the fiscal stress of states to “unsustainable levels” in the medium to long term, according to an article by RBI staffers. The article by Rachit Solanki, Somnath…

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