Welfare Economy

Women-centric welfare schemes account for 0.5% of India's GDP in FY25

The credit for the largest allocation in the budget for the cash transfer to women goes to Maharashtra, which has earmarked $5.4 billion, accounting for 1.1 per cent of the state's GDP

e-Shram database now a 'One Stop Solution' for unorganised workforce

According to various estimates, there are roughly 500 million unorganised workers in the country

Govt working on welfare and social security benefits for gig workers

A new version of the E-shram portal (E-shram 2.0) will also be launched in the coming week, which will ensure the onboarding of platform workers onto the portal, said Mandaviya

Alberto Fujimori, Peru's ex prez dies at 86 after tumultuous tenure

Alberto Fujimori, whose decade-long presidency began with triumphs righting Peru's economy and defeating a brutal insurgency only to end in a disgrace of autocratic excess that later sent him to prison, has died. He was 86. His death Wednesday in the capital, Lima, was announced by his daughter Keiko Fujimori in a post on X. He had been pardoned in December from his convictions for corruption and responsibility for the murder of 25 people. His daughter said in July that he was planning to run for Peru's presidency for the fourth time in 2026. The former university president and mathematics professor emerged from obscurity to win Peru's 1990 elections over writer Mario Vargas Llosa. He took over a country ravaged by runaway inflation and guerrilla violence, mending the economy with bold actions including mass privatizations of state industries. He also defeated fanatical Shining Path rebels, winning him broad-based support. Fujimori, who governed Peru from 1990 to 2000, was sentence

China raises retirement age, now among youngest in world's major economies

China starting next year will raise its retirement age for workers, which is now among the youngest in the world's major economies. The extension was considered long overdue in a country facing a shrinking population and an aging work force. The policy change will be carried out over 15 years, with the retirement age for men raised to 63 years, and 55 and 58 years for women depending on their jobs. The current retirement age is 60 for men, and 50 for women in blue-collar jobs and 55 for women in white-collar jobs. The policy will be implemented starting in January next year, according to the announcement from China's legislature reported by state broadcaster CCTV. We have more people coming into the retirement age, and so the pension fund is (facing) high pressure, that's why I think it's now time to act seriously, said Xiujian Peng, a senior research fellow at Victoria University in Australia who studies China's population and its ties to the economy. The change will take effect

Govt finally awoken to need for national law for gig workers' welfare: Cong

The Congress on Monday took a swipe at the government after it stated that it is committed to extending social security benefits to gig workers, saying it has "finally awoken" to the need for a comprehensive national law for such workers' welfare and that it is welcome to borrow from its policy on this urgent issue. The opposition party's remarks came a day after Labour Minister Mansukh Mandaviya said the government is actively exploring various avenues to ensure gig and platform workers are covered under social security. Congress general secretary in-charge communications Jairam Ramesh said the government has "finally awoken" to the need for a comprehensive national law for welfare of gig workers. The Congress and Rahul Gandhi took this issue up aggressively during the Bharat Jodo Yatra, and the Congress governments in Karnataka and Rajasthan have already legislated to provide gig workers with rights and protection, Ramesh said on X. It was also a key pillar of the party's Paanch

Higher welfare spends will lead Maha to lower capital expenditure: Report

Higher welfare spends announced by the Eknath Shinde-led Maharashtra government ahead of the elections will take the fiscal deficit beyond the target, and may lead to a compression in capital expenditure, a report said on Monday. The fiscal deficit for FY25 is expected to come at 3 per cent as against the budget target of 2.5 per cent, India Ratings and Research said in a report, adding that the state will resort to higher borrowings to bridge the gap. The government presented the final budget for FY25 of Rs 6.12 lakh crore on June 28, and also tabled supplementary demands of Rs 94,889 crore on July 10 primarily toward social welfare schemes, it said. The supplementary demands include Rs 25,000 crore for Mukhyamantri Majhi Ladki Bahin Yojana, Rs 6,056 crore for skill development, Rs 4,317 crore towards social justice, Rs 4,185 crore on public health, it said. The revenue deficit will come at 1.3 per cent as against the budget target of 0.5 per cent, it said. "The fiscal deficit is

Budget 2024: Tax burden on share buybacks shifted to shareholders

Finance Minister proposes to tax income received on buybacks of shares in the hands of recipient

Economic vision and not stimulus in Modi 3.0 Budget: Goldman Sachs

The government, Goldman Sachs believes, is likely to stick to the announced fiscal deficit target of 5.1 per cent of gross domestic product (GDP) for FY25

PM Kisan instalment worth Rs 20,000 cr released: How to check balance, KYC status

Prime Minister Narendra Modi on Tuesday released the 17th instalment of the PM Kisan scheme, which aims to support eligible farmer families by paying them Rs 6,000 in three equal instalments

Chhattisgarh to roll out women-centric Mahtari Vandan Yojana on March 10

The BJP government in Chhattisgarh will launch its flagship Mahatari Vandan Yojana', under which a monthly financial assistance of Rs 1,000 will be provided to married women, an official said on Saturday. Prime Minister Narendra Modi will join the programme virtually and interact with the beneficiaries on the occasion, he said. About Rs 700 crore will be released as the first instalment under the scheme, which will benefit nearly 70 lakh women in the state, the official said. He said each registered woman will get Rs 12,000 a year, or Rs 1,000 a month. As part of another scheme, which will be launched on March 12, paddy farmers will be given financial assistance, he said. Under the scheme, Krishak Unnati Yojana', those farmers whose paddy has been procured at the minimum support price (MSP), fixed by the Centre, will get some additional amounts. Union Ministers Arjun Munda and Giriraj Singh will be present during the launch of this programme, he said. The Vishnu Deo Sai governmen

Govt launches Social Defence Fellowship to support marginalised communities

In a joint initiative aimed at empowering marginalised communities across India, the National Institute of Social Defence (NISD), under the ministry of social justice and empowerment, has partnered with The Nudge Institute, a Bangalore-based non-profit organisation, to launch the 'Social Defence Fellowship'. This public-private partnership seeks to leverage the expertise of senior private sector professionals alongside the vision of senior civil servants, according to an official statement. Five social defence fellows have been carefully selected from a competitive pool of over 840 applicants nationwide, the social justice and empowerment ministry said. These fellows, boasting an average of over 25 years of experience, bring a wealth of knowledge from spearheading transformative initiatives across various sectors. They have undergone a rigorous selection process and will work full-time within the government system for a duration of 18 months, it said. The ministry, serving as the .

Himachal CM Sukhu announces Rs 1,500 per month for women in 18-60 age group

Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu on Monday announced that the state government will give Rs 1,500 per month to women in the age group of 18 to 60 years from the next financial year. This was one of the 10 'guarantees' promised by the Congress ahead of the assembly polls. Addressing the media here, he said that Rs 800 crore would be spent on the initiative -- Indira Gandhi Pyari Behna Sukh Samman Nidhi Yojna -- annually and over five lakh women would be covered under it. He said that with this, five out of 10 poll promises have been fulfilled and reiterated that the old pension scheme was restored benefitting 1.36 lakh employees of the state.

PM Modi seeks support of women to make 10 million 'lakhpati didis'

Prime Minister Narendra Modi on Tuesday sought the support of the country's women folk and said he wants to make one crore women in India "lakhpati didis". The prime minister lauded the beneficiaries of the Centre's major schemes in Jammu and Kashmir for setting an example for the rest of the country. He interacted with the beneficiaries during his visit to Jammu to ascertain how the schemes have transformed the lives of the people in the Union Territory. During a public rally, the PM encouraged a self-help group (SHG) head Kirti of Basohli area of Kathua district to leverage the loan scheme under livelihood scheme and contribute to the success of rural women. Kirti, whose SHG had purchased three cows and repaid the loan, has now a big cowshed due to the efforts of several women. She said, "The lives of women are changing and they are becoming the engines of change in rural India. The credit of the changes goes to such schemes gifted to us by the prime minister". Lauding Kirti for

India built best digital economy, finance infra: Nobel winner Spence

Noting that India is a major economy with the highest potential growth rate right now, Nobel laureate economist A Michael Spence said the country has successfully developed by far the best digital economy and finance architecture in the world. Spence, who was awarded the Nobel prize in Economic Sciences in 2001, shared his views during an interaction with students and faculty at the Bennett University in Greater Noida on Monday. "The major economy with the highest potential growth rate right now is India. India has successfully developed by far the best digital economy and finance architecture in the world. It is open, competitive and delivers services of an inclusive kind to a vast array of territory," the Nobel laureate said, according to a statement issued by the varsity. Spence also pointed out that the world is experiencing a "kind of regime change in the global economy". Tracing the evolution of the global economy after World War II, Spence said that the 70-year-old global ..

NDA removed supply hitch, created infra: White Paper on Indian economy

Cites transparent allocation of public resources as a catalyst for public welfare

Govt has remained dedicated to poor in last 10 years, says PM Modi

Prime Minister Narendra Modi said on Monday that the country can develop only if various welfare schemes reach all, asserting that it is his guarantee that everyone - even those in the remotest of areas - will benefit from them. Releasing the first instalment of Rs 540 crore to one lakh tribal beneficiaries of a rural housing scheme under the Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan (PM-JANMAN) via video conferencing, he said the 10 years of his government have been dedicated to the poor. Invoking Shabari, a tribal woman depicted in the epic Ramayana who served berries to Lord Ram during his stay in forests, the prime minister said it is natural for him to remember her when he has undertaken a special religious ritual till the consecration ceremony at the Ram temple in Ayodhya on January 22. "The story of Shri Ram is not possible without Mata Shabari," he said, asserting that she played a big role in the transformation of 'prince' Ram into 'maryada purushottam' Ram. "Be it

Canadian politician Ed Broadbent, a social democracy stalwart, dies at 87

Ed Broadbent, a social democracy stalwart who helped build up Canada's leftist New Democratic Party, has died. He was 87. The Broadbent Institute, the Ottawa-based think tank he founded in 2011 to promote social and economic justice, announced his death Thursday. It not give a cause of death. The institute called Broadbent a fierce champion for ordinary Canadians. Many in Canada remember him as a tireless fixture of federal debate in the 1970s and 1980s, going toe-to-toe with four different prime ministers, including Pierre Trudeau and Brian Mulroney. Ed devoted decades of his life to fighting for justice and equality in Canada and around the world, the Broadbent Institute said. He was a rare intellectual who could connect the challenges faced by ordinary citizens with the movements and institutions striving for economic democracy. Prime Minister Justin Trudeau said in a statement that Canada is better off thanks to Broadbent's selfless service. An advocate for equality and champ

SSY: Invest for its high and tax-free return with zero credit risk

Only parents of a girl child who do not mind the long lock-in should go for it

Nine out of 10 MSMEs expect to make profits this year, says report

Many companies plan to increase hiring and most expect they will need loans