Additional contribution of 1.16% for higher pension to be drawn from employers' payout
Additional contribution of 1.16% of basic wages for subscribers opting for higher pension will be managed from employers’ contributions to social security schemes run by retirement fund body Employees’ Provident Fund Organisation (EPFO.) Key Points
The Hindubasic structure only safeguard against majoritarian govt: Ramachandran
On the 50th year of the “basic structure” doctrine that restricts the power of Parliament to alter the fundamental features of the Constitution, senior advocate Raju Ramachandran told The Indian Express the doctrine is the only safeguard against a majoritarian government. Ramachandran, former Additional Solicitor General of India, was once a critic of the doctrine. […] Key Points
The Indian Express'Basic structure' doctrine a judicial coup against Parliament. Gogoi is right in debating it
Judiciary doesn’t represent will of people. To defend the collegium system, the Supreme Court invoked its invention— ‘basic structure’ of the Constitution. Key Points
ThePrintGovernment plans PLI scheme for basic chemicals used in pharma, other industries: Mansukh Mandaviya
Chemicals and Fertilisers Minister Mansukh Mandaviya announced plans to bring a PLI scheme for basic chemicals to make the country self-reliant and ensure affordability in the agro-chemicals, petro-chemicals, and pharmaceutical active pharmaceutical ingredient (API) industries. Mandaviya stressed the need for research and development in the field and asked MSMEs to use the government's open facilities. Key Points
Economic Times‘Castes that form only 4% of the total population in Karnataka enjoy 10% reservation’
EWS quota is against basic idea of reservation, according to Prof. A.B. Ramachandrappa, State convener of Manava Bandhutva Vedike Key Points
The Hindu
Netflix stops basic ad-free plan in US, UK. Know what happened
Netflix has recently put an end to its basic ad-free plan that started at $9.99 (£6.99) and promised an ad-free experience with support for HD content, albeit, one device at a time. Its gone now. Key Points
Economic TimesGovt exempts import duty on drugs, food for special medical purposes for personal use to treat rare diseases
The import duty waiver will come into effect from April 1.Also, the government has exempted Pembrolizumab (Keytruda), used in treatment of various cancers, from basic customs duty. Key Points
FinancialexpressChinese troops on Indian borders is akin to what is happening in Ukraine: Rahul Gandhi
Congress leader Rahul Gandhi said, In my view, the basic idea behind the troops in Ladakh and Arunachal Pradesh is similar to what is happening in Ukraine. I mentioned this to the Foreign Minister (S Jaishankar) but he completely disagrees with me and thinks it is a ludicrous idea. Key Points
Economic TimesAirports in India are posh and plush. So why are they stingy with basics like wheelchairs?
Airlines can take seat cushions out to run budget carriers, not critical support. Wheelchairs are critical. Key Points
ThePrintFor a long term investor with moderate risk appetite: 6 midcap stocks with right RoE and upside potential
Buying quality stocks should be one of the basic principles while investing in markets. But when one is buying mid-cap stocks this principle becomes even more important for multiple reasons and specially at a time when valuations are not cheap and small corrections can lead to strong negative reaction in stock prices. Now how does one do it? Look at the underlying business which is best understood by going through its annual report and look at a certain basic ratio in order to figure out how much return that underlying business can generate in best and worst case. Key Points
Economic Times
Airtel's ₹1,499 plan offers free Netflix and unlimited 5G data for 84 days: Check full details
Airtel introduces a prepaid plan priced at ₹1,499, offering 3GB daily data, unlimited calls, and 100 SMS/day for 84 days. It includes a free Netflix basic subscription, unlimited 5G data, and Apollo 24|7 Circle membership. Customers can claim the Netflix benefit via the Airtel Thanks app. Key Points
mintSchools in Noida, Greater Noida closed till January 16 for students up to Class 8
All schools in Gautam Buddha Nagar will remain closed for students up to class 8 till Tuesday i.e. January 16, in view of prevailing dense fog and cold weather conditions in the district, said an official order issued by the district's basic Education Officer Key Points
mintUniversal basic Income does not cause inflation
Universal basic income (UBI) is a policy that would give all citizens an unconditional, predictable income to cover their basic needs. There is widespread belief that any monetary intervention stimulates hyperinflation of the form found in 1920s Germany, 1990s Argentina and 2000s Zimbabwe. However, there is little evidence to support this view. UBI is no more or less inflationary than anything else that raises incomes - its impact would depend on whether the economy is at full employment, whether taxes are raised Key Points
Economic TimesWill DA and DR hike to 50% lead to merging into basic pay for central government employees, pensioners? What experts have to say
India Business News: The Dearness Allowance (DA) for central government employees recently rose by 4% to reach 50%. Similarly, Dearness Relief (DR) for central government pensioners also increased by 4% to 50%. These changes are effective from January 1. There's speculation about whether DA and DR will automatically merge into the basic Pay when DA hits the 50% mark, as seen in a previous instance. Key Points
Times Of IndiaBudget 2024 income tax: basic exemption limit should be increased to Rs 3.5 lakh - here’s why
Budget News: Find out why the basic exemption limit for income tax in Budget 2024 should be increased to Rs 3.5 lakh. Learn about the potential benefits for taxpayers and the need to cushion against inflationary pressures. Read more on Example News. Key Points
Times Of India
Here's how much monthly salary Mahindra Group CEO and MD Anish Shah will get from August 1 this year
The change in Dr Anish Shah's monthly basic salary scale shall remain in effect till March 31, 2025. Find out how much he will get in this story. Key Points
Business TodayEPFO gives relief to these EPF members from submitting joint declaration form
EPFO Joint declaration form submission: EPF scheme rules require mandatory submission of this form if an EPF member wants to contribute on basic pay exceeding statutory limit of Rs 15,000 per month. The EPFO has also started sending SMSes to the EPF members to submit the joint declaration form as soon as possible. Key Points
Economic TimesCentre increased import duty on gold and silver coins to 15%
The government has increased import duties on gold and silver finding and coins to 15%, including basic custom duty and ADIC. The new rates will be effective January 22. The government also increased import duties on silver dore, bars, and articles to align with gold and platinum import duties. Key Points
Economic TimesPay Rs 30k for dirty toilets: Consumer forum to Indian Railways
A Delhi District Consumer Commission has directed Indian Railways to pay Rs 30,000 as compensation to a passenger who suffered due to dirty toilets and unavailability of water. Read more about the case and the commission's decision. Key Points
Times Of IndiaWar, weather put ocean shippers on notice for rough seas in 2024
This is seemingly the new normal - these waves of chaos that seem to rise and fall. Before you get back to some level of normalcy another event happens that sort of throws things out of whack, said Jay Foreman, CEO of Florida-based basic Fun, who sends toys from factories in China to Europe and the United States. Key Points
Economic Times
At Variety's Power of Women event, Meghan Markle dazzles in an off-the-shoulder midi dress that costed aro
Meghan Markle dazzles in an off-shoulder midi dress at Variety's Power of Women event. She was wearing basic gold jewelry, black shoes, and a black clutch. She was wearing very little makeup. Key Points
Economic TimesLIC launches single premium Dhan Vridhhi (plan no. 869) with guaranteed return; check benefits, details
LIC Dhan Vriddhi is a non-linked, non-participating, individual, savings, single premium life insurance plan which offers a combination of protection and savings. Under the LIC Dhan Vriddhi plan, the customers will have two options to choose where 'sum assured on death' can either be 1.25 times (option 1) or 10 times (option 2) the tabular premium for the chosen basic sum assured subject to certain eligibility condition. Key Points
Economic TimesMidcaps with long term perspective; 4 stocks with high ROE & net profit margin
A high return on equity is a result of two factors. First, the basic nature of the business, there are some businesses which require a constant dose of capital like banks, there are some which may require a higher amount of capital but that would be a one time requirement. Second, how efficiently the management uses those resources. In times like today when interest rates have seen a sharp rise it is the second factor which becomes extremely important. Key Points
Economic TimesHigher EPF Pension: Who will bear additional contribution into pension fund?
The labour ministry has issued a statement regarding who will bear the additional 1.16 per cent contribution of basic wages for subscribers opting for higher pensions. Here is all you need to know. Key Points
India TodayFive specific sins; seven treasures of a king: Words by the numbers in Asia
In this instalment of his monthly column, author Adam Jacot de Boinod hunts down quirky figures of speech from across a continent. Look out for Capital Letters every month. Key Points
Hindustan Times