An armymen's trust has moved the Supreme Court seeking directions to the central government to remove the disparity in the pensionary benefit and to extend the old pension scheme benefits to the personnel of the armed forces under both the ministry of home affairs and the ministry of defence.
The government plans to come up with a contributory pension scheme for its employees who joined service after October 2002, and set up a National Tax Tribunal to speed up settlement of disputes.
Officials said the IBA had three major agendas to discuss, the most important being to persuade the unions to accept the new pension scheme, otherwise known as the contributory pension scheme, for new bank employees. Currently, the bank unions are vehemently opposing it since unions of no other sector has accepted it to date.
According to official statistics, half of India's GDP comes from as many as 420 million workers in the unorganised sector including street vendors, rickshaw pullers, construction workers, rag pickers, agricultural workers, among others. This massive workforce remains outside the purview of the formal banking and insurance industries.
Twenty years after the burning of a train in Godhra killed 59 'karsevaks' and triggered one of India's worst post-Partition riots, the poll-scape reflects the yawning gulf between the two communities.
Total burden on the exchequer will increase by Rs 12,000 crore to Rs 87,217.50 crore for the year 2019-20.
The interim Budget has attempted to tick all the boxes that could help the Modi government return to power, reports Archis Mohan.
'The social security system in India provides minimal support to the elderly poor,' says Geetanjali Krishna.
Close to 300 of these veterans assembled at the protest site, very close to where a similar agitation is being held by the ex-servicemen of the armed forces for the prompt implementation of the OROP for them.
The pension fund managers distribute products under the National Pension System.
FIXES BY THE GOVERNMENT: Energy price fixed, tax issues linger.
The Modi government's array of economic policy has been impressive.
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