Salaries

The Union Budget 2025-26 has allocated Rs 1,024.30 crore for expenses incurred by the Council of Ministers, the Cabinet Secretariat and the Prime Minister's Office, and for hospitality and entertainment of state guests. The allocated amount is a bit more than the Rs 1,021.83 crore earmarked in 2024-25. In the Budget presented by Finance Minister Nirmala Sitharaman in Lok Sabha on Saturday, a total of Rs 619.04 crore has been allotted for the expenses of council of ministers in the coming fiscal. It was Rs 540.95 crore in 2024-25. This allocation is for expenditure on salaries, sumptuary and other allowances and travel by Cabinet ministers, ministers of state, and former prime ministers. It also includes a provision for special extra session flight operations for VVIPs. The National Security Council Secretariat has been allocated Rs 182.75 crore, against Rs 270.08 crore allotted in 2024-25. The provision is for meeting the administrative expenses and space programme of the Nationa

As many as 90,000 salaried individuals, both from PSUs and the private sector, have withdrawn wrongful tax deductions claims totalling Rs 1,070 crore as of December 31, 2024, government sources said on Thursday. During various search & seizure and survey operations conducted by Income Tax Department, it has come to notice that various individuals are claiming incorrect deductions, under sections 80C, 80D, 80E, 80G, 80GGB, 80GGC, in their ITRs, leading to reduction of tax payable to the government. During investigation, it was revealed that such individuals are employees of organisations operating in diverse fields including PSUs, big corporations, MNCs, LLPs, Private Ltd Companies, etc, sources said. Also, most of them who claimed wrongful deductions were working in the same company. Analysis of the information with the department showed that there is a vast mismatch between total deductions under section 80GGB/80GGC claimed by taxpayers in their ITRs as against the total receipts

This missive comes after, Saxena interacted with a delegation of ASHA and Aangwadi Workers, who met the LG on Monday at Raj Niwas and brought to his notice that their stipends had not been revised

An SIP allows investors (particularly the salaried class) to match their cash flows with their investments

Workers in the claim would be entitled to back pay for up to six years before they brought the action

The Congress on Sunday claimed that a combination of slow wage growth and "back-breaking" inflation has caused an unprecedented decline in real wages and said that like the "proverbial ostrich", the government continues to remain blind to the most fundamental challenge faced by the Indian economy. Congress general secretary in-charge communications Jairam Ramesh said a new report by a noted brokerage firm has once again shed light on the truth that the Union Government has consistently denied - real household incomes in India are facing a persistent decline. "A combination of slow wage growth and back-breaking inflation has caused an unprecedented decline in real wages (wages adjusted for price rise) and therefore incomes," he said in a statement. Ramesh pointed out that several surveys and data sets - including the Annual Survey of Unregistered Enterprises (ASUSE), the Reserve Bank of India's KLEMS data, and the Household Consumer Expenditure Survey (HCES) - have demonstrated ...

Rationalisation of tax slabs and rate adjustments under consideration

Edtech firm BYJU'S has processed employees' May salaries from the month's business collections, sources close to the company said on Monday. Last year, the founders of the edtech firm had to pledge their house to raise debt for paying employees' salaries. "The salaries for the month of May have been processed for BYJU'S employees and will be credited today. This milestone is particularly significant for BYJU'S as the salaries have been paid from the company's collections for the month," a source said. The company in the past month also raised various debts to bear the salary expenses as it has not been able to use the USD 200 million fund raised through rights in February. "Over recent months, BYJU'S has implemented a series of strategic initiatives aimed at optimising operations and strengthening its financial health. The ability to cover salary expenses from the monthly collections underscores the positive impact of these measures," the source said. A group of four investors --

Female founders had a median salary of Rs 1 cr, while their male counterparts earned a median of Rs 1.8 cr: Study

Edtech firm Think and Learn, owner of Byju's brand, credited partial salaries of employees for the month of March, according to sources. Byju Raveendran, the Founder and CEO of Think and Learn, has raised debt in his personal capacity to pay the salaries of employees for March. Byju's salary expenses for partial payouts is estimated to be in the range of Rs 25-30 crore. The salary was credited on Saturday, April 20, in the account of employees. According to the source, the amount paid is between 50-100 per cent of salary. "Byju raised more personal debt to pay salaries this month. While the rights issue money is still blocked by the foreign investors, " a source said. "Teachers and people at the lower end of the pyramid have been paid 100 per cent," the source said. The company had raised USD 200 million through a rights issue to meet its operational requirements, including expenses related to employees' salaries. A group of four investors -- Prosus, General Atlantic, Sofina, a

Byju's said that despite its efforts, the company is yet to secure approval to access the funds from the rights issue

A two-tier tax system will be introduced from April, with income of up to HK$5 million ($640,000) taxed at a maximum of 15%, and anything higher than that being taxed at 16%

As a percentage of government expenditure, the budget allocated to defence is 13 per cent, continuing a multi-year trend of falling allocations

The interim budget 2024-25 on Thursday allocated Rs 1,248.91 for the expenses incurred by the council of ministers, cabinet secretariat, prime minister's office, and on hospitality and entertainment of State guests. The allocated amount is substantially lower than Rs 1803.01 crore earmarked in 2023-24. A total of Rs 832.81 crore has been given for the expenses of council of ministers (Rs 1289.28 crore in 2023-24). The provision is for expenditure on salaries, sumptuary and other allowances and travel by cabinet ministers, ministers of state and ex-prime ministers. This also includes provision for special extra session flight operations for VVIPs. The National Security Council Secretariat has been allocated Rs 200 crore (Rs 299.30 crore in 2023-24). The provision is for meeting the administrative expenses and space programme of the National Security Council Secretariat. As much as Rs 76.20 crore has been given to the office of principal scientific advisor (Rs 75 crore in 2023-24).

It's also the third straight quarter of decline, the longest run since data on yearly changes were first available in 2016

Workers in rural areas, women hit harder

While more than 25% of salaried borrowers have an excellent credit score of 770 and above, only 14% of self-employed consumers have such strong credit score profiles

The startup had previously deferred the June and July salaries of over 50 per cent of its workforce of 1,000 to the first week of September

The Kerala High Court on Monday criticised the state government over delay in disbursing salaries to the state-run corporation KSRTC staff, especially during the ongoing festive season of Onam, and directed it to make provisions for Rs 30 crore before August 24, when it will conduct further hearing on the matter. Justice Devan Ramachandran, in his order, said delay in payments can only lead to "unnecessary strife and controversy" within the ranks of the KSRTC. "It is rather intriguing that the Government is unable to inform this court of any alternative for the KSRTC apart from the monthly assistance being given to them by them; but still delays payment until the end of the month," the order said. Justice Ramachandran said while the entire state was in celebratory mode for Onam, the court "certainly cannot countenance" that the employees of KSRTC, especially its drivers and conductors, are without salary for July, 2023. The court said it failed to understand why the government ...

A fresh study by consultancy ECA International has discovered that expat salaries are the highest in this Middle Eastern nation