Demand under rural jobs scheme seen 27% lower in FY25
The rural development ministry has pegged the 2024-25 person-day generation target (called labour budget) at 2.21 billion under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), down 27% from the Actual level in the previous fiscal. Key Points
Economic TimesNarendra Modi, Xi Jinping agree to expedite disengagement along LAC
Indian Prime Minister Narendra Modi and Chinese President Xi Jinping have agreed to an expeditious disengagement and de-escalation along the Line of Actual Control in eastern Ladakh, according to Foreign Secretary Vinay Mohan Kwatra. Modi highlighted India's concerns over unresolved issues along the India-China border and emphasized the importance of peace and tranquility in the region. Both leaders have instructed officials to intensify efforts for disengagement and de-escalation. This comes after multiple meetings between Doval and Wang to discuss the disengagement of troops and the future of political engagement. Key Points
Economic TimesCommercial Taxes dept detects use of multiple QR codes by hoteliers to evade tax
The vigilance wing of the Commercial Taxes department in Bengaluru has uncovered hoteliers using 30 QR codes to evade taxes and suppress Actual turnovers. The search operation also discovered Rs 1.47 crore cash at the residence of one of the proprietors. The hoteliers were engaged in the supply of biriyani and non-vegetarian items, and they were receiving payments through multiple UPI accounts to hide their Actual turnovers and avoid issuing tax invoices. Income Tax officials have initiated proceedings regarding the cash found. Key Points
Economic TimesWas a man in Georgia charged with $1.4 million speeding ticket?
A driver in Savannah, Georgia, was shocked to receive a $1.4 million speeding ticket for driving at 90 mph in a 55 mph zone. However, city officials have clarified that the figure is a placeholder and not the Actual fine. Anyone caught exceeding the speed limit by more than 35 mph is required to appear in court, where a judge will determine the Actual fine based on the circumstances. Key Points
Economic TimesGovt says 1,20,279 EPFO subscribers applied to opt for higher pension under EPS scheme till March 9
As of March 9, 2023, 1,20,279 people have applied online to opt for higher pension under the Employees' Pension Scheme 1995 (EPS-95). The Supreme Court had asked the Employees' Provident Fund Organisation (EPFO) to give four months time to subscribers as well as pensioners to contribute on their Actual salaries towards EPS-95. Many EPFO subscribers have been contributing on threshold (pensionable salary) of Rs 15,000 per month which is less Key Points
Economic Times
Over 1.2 lakh opt for higher Pension under EPS-95
In November last year, the Supreme Court had asked the Employees' Provident Fund Organisation (EPFO) to give four months to subscribers as well as pensioners to contribute on their Actual salaries towards EPS-95. Many EPFO subscribers have been contributing on a threshold (pensionable salary) of Rs 15,000 per month, which is less than their Actual pay. Key Points
Economic Times