Global Market Update date 13.11.24

Global Market Update – Better than expected US Q3 GDP and Personal Consumption data lifted US market up to 1% …Dollar Index surging to 2-year high …Share of Accenture is up 7%...INFY ADR up by 3%

· US stocks kicked off Thursday’s session higher, suggesting that the selloff after the Federal Reserve signaled fewer rate cuts next year was overdone. The yen slid as the Bank of Japan left borrowing costs unchanged. The S&P 500 rose 1% following its biggest loss for a scheduled Fed decision day since 2001. The Nasdaq 100 jumped 0.9%. The 10-year US Treasury yield rose to 4.54%, a level last seen in May. US Q3 GDP reported better than expectation at 3.1% vs 2.8% previous quarter, better than Bloomberg estimated of 2.8%. Personal Consumption surged to 3.7% vs 3.5% previous quarter, better than Bloomberg estimated of 3.6%.

Highlights of UPS (Unified Pension Scheme)

Highlights of UPS (Unified Pension Scheme):

 

 

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, today approved the Unified Pension Scheme (UPS).

The salient features of the UPS are:

1. Assured pension: 50% of the average basic pay drawn over the last 12 months prior to superannuation for a minimum qualifying service of 25 years. This pay is to be proportionate for lesser service period upto a minimum of 10 years of service.
2. Assured family pension: @60% of pension of the employee immediately before her/his demise.
3. Assured minimum pension: @10,000 per month on superannuation after minimum 10 years of service.
4. Inflation indexation: on assured pension, on assured family pension and assured minimum pension

Dearness Relief based on All India Consumer Price Index for Industrial Workers (AICPI-IW) as in case of service employees

5. lump sum payment at superannuation in addition to gratuity

          1/10th of monthly emoluments (pay + DA) as on the date of superannuation for every completed six months of              service

NOTE-  this payment will not reduce the quantum of assured pension

एकीकृत पेंशन योजना की मुख्य विशेषताएं इस प्रकार हैं:

1. सुनिश्चित पेंशन: 25 वर्ष की न्यूनतम अर्हक सेवा के लिए सेवानिवृत्ति से पहले अंतिम 12 महीनों में प्राप्त औसत मूल वेतन का 50 प्रतिशत। यह वेतन न्यूनतम 10 वर्ष की सेवा अवधि तक कम सेवा अवधि के लिए आनुपातिक होगा।

2. सुनिश्चित पारिवारिक पेंशन: कर्मचारी की मृत्यु से ठीक पहले उसकी पेंशन का 60 प्रतिशत।

3. सुनिश्चित न्यूनतम पेंशन: न्यूनतम 10 वर्ष की सेवा के बाद सेवानिवृत्ति पर 10,000 रुपये प्रति माह।

4. महंगाई सूचकांक: सुनिश्चित पेंशन पर, सुनिश्चित पारिवारिक पेंशन पर और सुनिश्चित न्यूनतम पेंशन पर

5. औद्योगिक श्रमिकों के लिए अखिल भारतीय उपभोक्ता मूल्य सूचकांक (एआईसीपीई-आईडब्ल्यू) के आधार पर महंगाई राहत, सेवा कर्मचारियों के मामले में सेवानिवृत्ति के समय एकमुश्त भुगतान, ग्रेच्युटी के अतिरिक्त, सेवानिवृत्ति की तिथि पर मासिक परिलब्धियों (वेतन + डीए) का 1/10वां हिस्सा, सेवा के प्रत्येक पूर्ण छह महीने के लिए, इस भुगतान से सुनिश्चित पेंशन की मात्रा कम नहीं होगी।

******

 

 Cabinet approves Unified Pension Scheme ‣ Railway Employee Portal for Railway & Employee information ‣ RAIL NEWS CENTER ‣ 2 Railway Employee

Revised rates of Interest wef 01.01.2024 for Small Savings Schemes – SB Order No. 23/2023

SB Order No. 23 / 2023

F. No 113-03/2017-SB(Pt.1)
Government of India
Ministry of Communications
Department of Posts
(Financial Services Division)

Dak Bhawan, New Delhi — 110001
Dated: 29.12.2023

To

All Head of Circles/Regions

Subject: Revision of interest rates for Small Savings Schemes w.e.f. 01.01.2024

Madam / Sir,

The undersigned is directed to say that, vide memorandum No. 1/4/2019-NS dated 29.12.2023 (copy enclosed), Government of India, Ministry of Finance, Department of Economic Affairs (Budget Division) has informed that the rate of interest on various Small Savings Schemes (National Savings Schemes) for the fourth quarter of financial year 2023-24 (starting from 1st January, 2024 and ending on 31st March, 2024) have been revised as under.                                                                                                                                                                                       

Different types of taxes

 Different types of taxes

India has two types of taxes, namely Direct Tax and Indirect Tax. The core difference between both the taxes lies in their implementation.

Apart from these types of taxation, there are other taxes or cess levied by the government for specific purposes, which are – Krishi Kalyan Cess, Swachh Bharat Cess and Infrastructure Cess Tax.

Direct Tax

Direct Taxes comprise taxes that you pay directly to the government. These taxes are levied directly on an individual and therefore can’t be transferred to another entity or person. The Central Board of Direct Taxes (CBDT) under the Department of Revenue is responsible for the governance of this tax.

Budget 2021-22 LIVE Updates – बजट 2021 -2022 लाइव देखे

Budget 2021-22 LIVE Updates 

Kindly Refresh This Page For Live Updates – Click Here