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The just-announced <keyword id="22906567" type="General" weightage="100" keywordseo="Unified-Pension-Scheme" source="keywords">Unified Pension Scheme</keyword> for central <keyword id="19933272" type="General" weightage="20" keywordseo="government-employees" source="keywords">government employees</keyword> will be available only for those who are currently subscribers of the New Pension Scheme (NPS), including retirees. The new scheme guarantees employees 50% of their average basic pay over the last 12 months before retirement, as a pension for a minimum qualifying service of 25 years against a market returns linked payout under the NPS. According to the scheme approved by the Union Cabinet, the pension will be proportionate for a lesser service period of up to a minimum of 10 years. Also, assured pension of Rs 10,000 per month on superannuation after a minimum of 10 years of service will be provided. The scheme has been brought out to address the concerns of government employees over NPS, which came into effect from January 1, 2004. Under the <keyword id="3246232" type="General" weightage="20" keywordseo="Old-Pension-Scheme" source="Orion">old pension scheme</keyword> (OPS), effective before January 2004, employees got 50 % of their last drawn basic pay as pension. Unlike the old pension scheme, UPS is contributory in nature, wherein employees will be required to contribute 10% of their basic salary and dearness allowance while the employer's contribution (the central government) will be 18.5%. Under the NPS, the employer contribution is 14%, and the employee contribution is 10%. However, the eventual payout depends on the market returns on that corpus, mostly invested in government debt. Employees, under the OPS, were not required to make any contribution. They, however, contributed to the General Provident Fund (GPF). The accumulated amount, along with interest, was paid to the employee at the time of retirement. As the NPS was less attractive than the OPS, several non-BJP-ruled states decided to go back to the old pension scheme, which offered a DA-linked benefit. This prompted the Centre to constitute a committee in April 2023, under former Finance Secretary and now Cabinet Secretary-designate TV Somanathan to suggest improvement in the NPS architecture. Fulfilling the long pending demands of government employees ahead of assembly elections in Haryana and Jammu and Kashmir, the Union Cabinet on August 24 approved the UPS, which will provide assured pension to 23 lakh eligible central government employees. Those opting for the UPS will not be able to switch back. The UPS will put an additional burden of Rs 6,250 crore on the exchequer per year. The expenditure will vary every year according to variations in the number of employees. In addition, there will be an arrear of Rs 800 crore that has to be paid under the National Pension System (NPS) to employees retiring before March 31, 2025. If these retirees opt for UPS, they will receive arrears. "UPS is being implemented by the Central Government, benefitting 23 lakh central government employees," Information &amp; Broadcasting Minister Ashwini Vaishnaw said on X on Sunday. If states also adopt the UPS architecture, a total of over 90 lakh government employees, who are presently on NPS, would be benefitted, he added. On Sunday, Maharashtra, where assembly elections are due later in the year, became the first state to announce the adoption of the UPS for its employees. RSS-affiliate Bharatiya Mazdoor Sangh (BMS) said though the government has attempted to overcome the shortcomings of the NPS, there are still some issues compared to OPS. BMS will decide its future course of action only after a detailed study of the UPS after it is notified. All India Trade Union Congress (AITUC) said it is nothing but an extension of the existing NPS. The trade union expressed apprehensions that UPS will have a lot of aberrations once implemented. AITUC reiterated that it will continue to fight for the restoration of the non-contributory OPS. ICRA Chief Economist Aditi Nayar said assured pensions will add to the government's committed expenditure in the future while reducing the uncertainty for employees. "This will have to be built into the fiscal consolidation roadmap going ahead," Nayar added. The UPS reflects a thoughtful approach to long-term social security, addressing concerns about the adequacy and sustainability of pension benefits in a rapidly changing economic landscape, said Shardul Amarchand Mangaldas &amp; Co Partner Dorothy Thomas. "This move signals the government's commitment to providing robust support for its workforce, enhancing financial stability for millions of government employees across the country," Thomas said.

Over 23 lakh govt employees under NPS get option to choose unified pension scheme

The government on Tuesday hiked the minimum support price for wheat by Rs 110 to Rs 2,125 per quintal and mustard by Rs 400 to Rs 5,450 per quintal for the current crop year with an aim to boost production and income of the farmers. The decision to increase the MSPs (minimum support prices) was taken at a meeting of the Cabinet Committee on Economic Affairs (<keyword id="56977" type="General" weightage="80" keywordseo="ccea" source="Orion">CCEA</keyword>) chaired by Prime Minister <keyword id="6354477" type="General" weightage="80" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword>. <keyword id="133827" type="General" weightage="80" keywordseo="msp" source="Orion">MSP</keyword> is the rate at which the government buys grain from farmers. Currently, the government fixes MSPs for 23 crops grown in both <keyword id="50318" type="General" weightage="80" keywordseo="kharif" source="Orion">Kharif</keyword> and rabi seasons. Sowing of rabi (winter) crops begins in October, immediately after the harvest of kharif (summer) crops. Wheat and mustard are major rabi crops. According to an official release, the CCEA has approved an increase in MSPs for six rabi crops for the 2022-23 crop year (July-June) and the 2023-24 marketing season. <keyword id="625304" type="General" weightage="80" keywordseo="wheat-msp" source="Orion">Wheat MSP</keyword> has been increased by Rs 110 to Rs 2,125 per quintal for this crop year from Rs 2,015 per quintal in the 2021-22 crop year. The cost of production of wheat is estimated at Rs 1,065 per quintal, the release said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-rises-22-paise-to-82-08/usd-tracking-positive-domestic-equities/articleshow/94935889.cms">Rupee rises 22 paise to 82.08/USD tracking positive domestic equities</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/two-in-three-ceos-in-india-expect-a-recession-in-12-months-says-survey/articleshow/94934951.cms">Two in three CEOs in India expect a recession in 12 months says survey</a>

Government hikes the minimum support price of wheat and mustard

<ul class="summary-list"><li>GOP Sen. Josh Hawley has positioned himself as a populist ally of workers.</li><li>That's included rallying with striking auto workers with the UAW last year.</li></ul>In recent years, <a target="_blank" href="https://www.businessinsider.com/josh-hawley-new-book-religious-revivals-made-america-2024-5">Sen. Josh Hawley</a> has sought to <a target="_blank" href="https://www.businessinsider.com/vance-hawley-republicans-uaw-strikes-shawn-fain-labor-2023-9">position himself as populist Republican</a> and a staunch ally of organized labor.That's included rallying with striking auto workers in his home state of Missouri last September, courting support from labor unions, and even voting against a recent GOP-led effort to overturn a new rule from the National Labor Relations Board.Despite those moves, the United Auto Workers are endorsing Democrat Lucas Kunce over Hawley as the Missouri Republican seeks reelection this year."Josh Hawley calling himself pro-worker is a total joke. There is only one candidate in this US Senate race who has earned the trust of Missouri autoworkers, and that's Lucas Kunce," said Fred Jamison, President of the UAW Region 4 Midwest States Cap Council, in a statement first shared with Business Insider.A spokesperson for Hawley did not immediately respond to Business Insider's request for comment.Kunce, a <a target="_blank" href="https://www.businessinsider.com/missouri-populist-lucas-kunce-senate-jail-congressmembers-stock-insider-trading-2021-12">self-styled populist Democrat</a> who also ran for Senate in 2022, is likely to prevail in the August 6 primary. Observers generally consider the race to lean Republican, though organizers are hoping to put a constitutional amendment to protect abortion rights on the ballot this November — a move that could drive Democratic turnout."I'm honored to have the support of UAW in this race," Kunce said in a statement to Business Insider. "The only way we'll put Missouri and America first in the next generation of industry is by investing in and empowering workers like them. In the US Senate, I'll fight like hell for them. Let's pass the PRO Act and Make Shit In America Again!"Hawley has made some pro-worker moves in recent years, including voting to give seven extra days of paid sick leave to rail workers during a looming strike in December 2022 and supporting a $15 minimum wage for workers at companies that generate more than $1 billion in annual revenue.The Teamsters, one of the country's largest labor unions, contributed $5,000 to Hawley's reelection campaign in April. They also gave $45,000 to the Republican National Committee — along with the same amount to the Democratic National Committee — and have seemingly considered endorsing former President Donald Trump.But Hawley previously supported right-to-work laws, and he remains opposed to the Protecting the Right to Organize Act, a top priority of organized labor. The Democratic-backed bill is designed to strengthen workers' ability to form unions."I'm not a huge fan of the PRO Act," Hawley <a target="_blank" href="https://www.businessinsider.com/vance-hawley-republicans-uaw-strikes-shawn-fain-labor-2023-9">told Business Insider</a> in September. "My worry would be that it might, you know, hurt workers more than it helps."He went on to say that "we can have a debate about" the bill, but that the "real question" is whether certain jobs will remain in the US at all."If you want to talk about how to divide up a shrinking pie, I suppose we can do that," said Hawley. "But why don't we think about how we get more pie for labor in this country?"Hawley has also criticized public sector unions, which account for slightly less than half of all union members in the US and include teachers and police officers."I just think that public sector unions for a long time have held government hostage, held vital government services for people hostage, and that's different," Hawley <a target="_blank" href="https://www.kansascity.com/news/politics-government/article280706255.html">told the Kansas City Star</a> in October. "But when you're talking about private sector unions that are trying to get folks bargaining power, these multinational corporations, particularly in the last 30 years, they're really less and less tied to this country and less and less tied to American workers."

'Total joke': Josh Hawley's bid to win labor support just backfired

<keyword id="6358777" type="LOCATION" weightage="20" keywordseo="New-Delhi">New Delhi</keyword>, <keyword id="1588424" type="POSITION" weightage="20" keywordseo="Farmer-leaders">Farmer leaders</keyword> are expected to meet on Tuesday to discuss a plan of action as thousands gathered at protest sites on Delhi's borders with Haryana and Uttar Pradesh to press for the repeal of the <keyword id="10352079" type="UNKNOWN" weightage="20" keywordseo="new-agri-laws">new agri laws</keyword> brace the cold wave sweeping through the national capital. Efforts are underway by the unions to draw <keyword id="6367209" type="UNKNOWN" weightage="20" keywordseo="support">support</keyword> from farmers in other states like Bihar for their demand to enact a law assuring <keyword id="76332" type="COMPANY" weightage="20" keywordseo="Minimum-Support-Price">Minimum Support Price</keyword> as the protest at the border points have been going on for almost four weeks now. On Monday, the farmers held a relay hunger strike at various protest sites in batches of 11. In the letter to 40 union leaders, the Joint Secretary in <keyword id="9313637" type="COMPANY" weightage="20" keywordseo="the-union-agriculture-ministry">the Union Agriculture Ministry</keyword>, Vivek Aggarwal, on Sunday asked them to specify their concerns over its earlier proposal of amendments in the laws and choose a convenient date for the next round of talks so that the ongoing agitation could end at the earliest. The sixth round of talks on December 9 was cancelled following a deadlock with the farmer unions refusing to budge from their demand for repealing the three laws. Owing to ongoing agitation, the Delhi Traffic Police said the Singhu, Auchandi, Piau Maniyari, and Mangesh borders are closed. It advised commuters to take alternative routes through the Lampur, Safiabad Saboli and Singhu school toll tax borders. Police said that as traffic has been diverted from Mukarba and the GTK road, people are suggested to avoid Outer Ring Road, the GTK road and National Highway (NH) 44. Those travelling to Haryana can go through the Jharoda (only single carriageway), Daurala, Kapashera, Badusarai, Rajokri NH-8, Bijwasan-Bajghera, Palam Vihar and Dundahera borders. According to the traffic police, Tikri and Dhansa borders are also closed for traffic but the Jhatikara border was open only for two-wheelers and pedestrians. At the Chilla border, the Delhi to Noida carriageway is open for traffic. The Noida to Delhi carriageway is, however, closed. The Ghazipur border was also closed for traffic movement. Enacted in September, the three farm laws have been projected by the central government as major reforms in the agriculture sector that will remove the middlemen and allow farmers to sell anywhere in the country. However, the protesting farmers have expressed apprehension that the new laws would pave the way for eliminating the safety cushion of Minimum Support Price and do away with the mandi system, leaving them at the mercy of big corporates. The government has repeatedly asserted that the MSP and mandi systems will stay and has accused the opposition of misleading the farmers. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-spicejet-interglobe-aviation-tata-motors-pfizer-asian-paints-niit-lupin-and-others/articleshow/79849749.cms">Top stocks to watch – SpiceJet, InterGlobe Aviation, Tata Motors, Pfizer, Asian Paints, NIIT, Lupin, and others</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-mrs-bectors-food-specialities-ipo-allotment-status-online/articleshow/79808672.cms?upcache=2">Mrs Bectors Food Specialities IPO allotment today: Here’s how to check share allotment status</a> <a href="https://www.businessinsider.in/business/startups/news/google-microsoft-invest-in-dailyhunt-for-its-short-video-platform-josh-making-it-the-latest-unicorn-in-india/articleshow/79850804.cms">Google, Microsoft invest in DailyHunt for its short video platform Josh – making it the latest unicorn in India</a>

Farmer union leaders to meet today to decide on further discussions with government

A day after protesting farmers rejected the government's offer for a written assurance on MSP and amend few provisions in the new farm laws, Agriculture Minister <keyword id="6382481" type="PERSON" weightage="20" keywordseo="narendra-singh-tomar">Narendra Singh Tomar</keyword> on Thursday urged union leaders to consider the proposals and said he is ready for further discussions with them. "The government is ready to consider with an open mind any provision in the new laws where farmers have any issues and we want to clarify all their apprehensions," Tomar said at a press conference here. "We kept waiting for suggestions from farmers' leaders to address their concerns, but they are stuck on the repeal of laws," he said, while virtually ruling out conceding to the key demand with which thousands of farmers are protesting on various borders of the national capital for nearly two weeks. <div type="Article" hostid="261" msid="79644167" title="Farmers call for nationwide protest on December 14 — plan to block Delhi-Jaipur and Delhi-Agra highways starting December 12" mstype="2" mssubtype="0"></div> Tomar said the government has always been ready for dialogue with farmers and it remains so. "We are concerned about the farmers protesting in cold weather and during the prevailing COVID-19 pandemic. Farmers' unions should consider the government's proposal at the earliest and then we can mutually decide on the next meeting, if required," the minister said. The government fad on Wednesday proposed to give a "written assurance" that the existing <keyword id="76332" type="COMPANY" weightage="20" keywordseo="Minimum-Support-Price">Minimum Support Price</keyword> (MSP) regime for procurement will continue. However, the farmers' unions rejected the proposal and said they would intensify their agitation until the government accepts their demand for a complete repeal of the three laws. The government has also proposed to make necessary amendments on at least seven issues, including one to allay fears about the weakening of the mandi system. Tomar, who along with his cabinet colleague Piyush Goyal had met senior party leader and Union Home Minister Amit Shah on Wednesday night, said the government is ready to provide all necessary clarifications on their concerns about the new farm laws enacted in September, which he said were passed after detailed discussions in Parliament. Goyal, who was also present at the media briefing, said the new laws do not affect the APMC and that would remain protected. Farmers are only being given an additional option to sell their produce at private mandis. The farmer leaders had said on Wednesday there was nothing new in the government proposal and they will continue their protest. Shah, in a Tuesday night meeting with 13 union leaders, had said the government would send a draft proposal on key issues raised by the farmers regarding the three farm laws, even though the meeting had failed to break the ice with farm union leaders who are insisting for repealing these laws. The sixth round of talks between the government and farm union leaders, which was scheduled for Wednesday morning, was also cancelled. In the proposal, sent by Agriculture Ministry Joint Secretary Vivek Aggarwal, the government said is ready to consider with an open heart the objections which farmers have on the new farm laws. "The government has tried to address the concerns of farmers with an open heart and with respect for the farming community of the country. The government appeals the Kisan unions to end their agitation," it said. On farmers' fears that mandis would weaken after the new laws, the government said an amendment can be made wherein state governments can register the traders operating outside mandis. States can also impose tax and cess as they used in APMC (Agricultural Produce Market Committee) mandis on them. On concerns that farmers may be duped as anyone having just a pan card is allowed to trade outside APMC mandis, the government said to rule out such apprehensions, the state governments can be given the power to register such traders and make rules keeping in mind the local situation of farmers. On the issue of farmers not getting the right to appeal in civil courts for dispute resolution, the government said it is open to making an amendment to provide for an appeal in civil courts. Currently, the dispute resolution is at the SDM level. On fears that big corporates will take over farmlands, the government said it has already been made clear in the laws, but still, for clarity's sake, it can be written that no buyer can take loans against farmland nor any such condition will be made to farmers. On attaching farmland under contract farming, the government said the existing provision is clear but still it can be clarified further if required. On fear about the scrapping of the MSP regime and shifting of trade to private players, the government said it is ready to give a written assurance that the existing MSP will continue. On demands to scrap the proposed Electricity Amendment bill 2020, the government said there won't be any change in the existing system of electricity bill payment for farmers. On farmers' demand to scrap the Air Quality Management of NCR Ordinance 2020, under which there is the provision of penalty for stubble burning, the government said it is ready to find an appropriate solution. On farmers' demand to provide registration of farming contracts, the government said till state governments make an arrangement for registration, an appropriate facility will be provided at the SDM office wherein a copy of the contract can be submitted 30 days after its signing. On Constitutional validity of farm laws, the ministers said it has the power under Entry 33 of the Concurrent List to pass laws on contract farming and intra- and inter-state trade, and prohibit states from imposing fees/cess outside APMC areas. It had followed legal provisions while enacting the laws and earlier for bringing ordinances, the ministers said. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/instagram-facebook-messenger-outage-in-india-europe-japan-and-other-parts-of-the-world/articleshow/79661777.cms">Instagram and Facebook Messenger down for users across the globe</a> <a href="https://www.businessinsider.in/stock-market/news/infosys-hcl-tech-and-tcs-stocks-may-see-another-surge-estimates-edelweiss-heres-why/articleshow/79659516.cms">One research firm says shares of Infosys, HCL Tech, and TCS may see another surge — here's why</a> <a href="https://www.businessinsider.in/tech/news/india-desi-gps-finally-joins-china-russia-and-the-us-after-a-two-year-long-wait/articleshow/79656300.cms">India’s desi-GPS is now in the same league as the US, Russia and China — can scan 1,500 kilometres beyond its own borders</a>

Government urges farmers to engage in dialogue before escalating protests

<keyword id="6358777" type="LOCATION" weightage="20" keywordseo="New-Delhi">New Delhi</keyword>, The Union Ministry of Agriculture and <keyword id="45092" type="COMPANY" weightage="20" keywordseo="farmers">Farmers</keyword> Welfare on Monday said that the meeting between a group of ministers and farmer unions scheduled for January 19 has been postponed to January 20. The meeting is scheduled to take place at 2 p.m. here at Vigyan Bhawan. It would be the 10th round of talks between Centre and the representatives of the agitating farmers who are on streets along the borders of Delhi since almost two months, demanding withdrawal of the newly passed <keyword id="9970645" type="UNKNOWN" weightage="20" keywordseo="farm-laws">farm laws</keyword> passed by the <keyword id="6357307" type="UNKNOWN" weightage="20" keywordseo="Central-Government">Central government</keyword>. In a letter to the representatives of the protesting farmers, Sanjay Agarwal, Secretary, Union Ministry of Agriculture and Farmers Welfare said the scheduled meeting of a Group of Ministers with agitating farmer organisations for January 19 has been postponed to January 20 due to some unavoidable reasons. Stating in the letter that the meeting would be held on January 20, the farmers' leaders have been requested to attend the meet. With a view to improve the agriculture and allied sectors, the Central government implemented the Farmers Produce Trade and Commerce (Promotion and Facilitation) Act 2020, the Farmers (Empowerment and Protection) Agreement of Price Assurance and Farm Services Act 2020, and the Essential Commodities (Amendment) Act 2020. Though the <keyword id="6354977" type="COMPANY" weightage="20" keywordseo="Supreme-Court">Supreme Court</keyword> has stayed the implementation of these laws and set up an expert committee to resolve the issue, the Central government has kept open the channel of dialogue with the farmers' unions. Agriculture Minister Narendra Singh Tomar, who is leading the negotiations on behalf of the government, has repeatedly reiterated that whatever provisions would be appropriate in the interests of the farmers of the country, the Narendra Modi-led government would consider including them in the new farm laws. The protesting farmers are adamant on repealing the three Union farm laws and demanding a legal guarantee for procurement of crops at the <keyword id="76332" type="COMPANY" weightage="20" keywordseo="Minimum-Support-Price">Minimum Support Price</keyword>. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/how-rakesh-jhunjhunwala-backed-nazara-technologies-is-preparing-for-its-big-ipo-debut/articleshow/80321946.cms">The startup behind Chhota Bheem, Motu Patlu and Shikari Shambhu is back with an IPO plan ⁠⁠— after a series of acquisitions and fundraisings</a> <a href="https://www.businessinsider.in/stock-market/news/heres-what-analysts-have-to-say-about-the-4634-crore-indian-railway-finance-corporation-irfc-ipo/articleshow/80323479.cms?upcache=2">The ₹4,600 crore IPO from IRFC is ‘attractive,’ and the best thing about the borrowing arm for Indian Railways is the assured margin</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-apply-for-indian-railway-finance-corporation-irfc-ipo/articleshow/80327303.cms">How to apply for IRFC IPO? Check the details and online application process here</a> <a href="https://www.businessinsider.in/business/startups/news/cure-fit-strengthens-its-us-offering-by-acquiring-digital-trainer-and-workout-app-onyx/articleshow/80326857.cms">Cure.fit strengthens its US offering by acquiring digital trainer and workout app Onyx</a>

Farmers' protest: Tenth round of talks between government and farmer leaders postponed to January 20

New Delhi, A stalemate continued on Monday between the government and a representative group of thousands of protesting <keyword id="45092" type="COMPANY" weightage="20" keywordseo="farmers">farmers</keyword>, as the unions stuck to their demand for the repeal of three farm laws right from the beginning of the meeting even as the <keyword id="6364618" type="UNKNOWN" weightage="20" keywordseo="ministers">ministers</keyword> listed various benefits of the Acts. The two sides took a lunch break after just about one hour of talks, sources said, during which the three central ministers went into a huddle to discuss the way forward while the union leaders had the langar food arranged by them, as they have been doing for the last few times. However, unlike the last round of talks on December 30, the ministers did not join the union leaders for the langar food and were seen having their own discussion in a separate room during the break. The break continued for more than an hour with no signs of any breakthrough as the government also remained firm on not repealing the laws and is believed to have suggested a panel to take the matter forward. The first hour of talks focussed only on the three laws and the other key demand of farmers for a legal guarantee to the <keyword id="76332" type="COMPANY" weightage="20" keywordseo="Minimum-Support-Price">Minimum Support Price</keyword> (MSP) procurement system did not come up for discussions. <keyword id="65264" type="COMPANY" weightage="20" keywordseo="Bharatiya-Kisan-Union">Bharatiya Kisan Union</keyword> leader Rakesh Tikait, who is participating in the meeting, told over the phone during the break that the first hour of discussion remained focussed on the three laws. "Our demand is the repeal of the laws. We will not agree to any alternatives such as the setting of the committee," he said. Asked if there could be a concrete outcome from the meeting, Tikait said, "I don't think so. They have to take back the laws for us to end the protest and go back to our homes." Thousands of farmers, mainly from <keyword id="6354953" type="LOCATION" weightage="20" keywordseo="punjab">Punjab</keyword>, Haryana and western Uttar Pradesh, are protesting at various Delhi borders for over a month against the three laws. They have stayed put despite heavy rains and waterlogging at protest sites over the last couple of days, besides severe cold weather conditions prevailing in and around the national capital. The talks are still on and there has not yet been any discussion on the second agenda pertaining to giving legal backing to MSP, Tikait said. Another union representative, Kavitha Kurungati of Mahila Kisan Adhikar Manch, said, "The standoff continues as the government is talking about benefits of the laws and we are asking for the repeal of those laws." No discussion has yet happened on the MSP, she said. "We are waiting for the ministers to get back into the meeting (after the break). They seem to be in a huddle," she later said. Enacted in September 2020, the government has presented these laws as major farm reforms and aimed at increasing farmers' income. During the meeting, the government listed various benefits from the three laws, enacted a few months ago, but farmers kept insisting that the legislation must be withdrawn to address their apprehensions that the new Acts would weaken the MSP and mandi systems and leave them at the mercy of big corporates. The government has maintained that these apprehensions are misplaced and has ruled out repealing the laws. <keyword id="86736" type="COMPANY" weightage="20" keywordseo="Union-agriculture">Union Agriculture</keyword> Minister Narendra Singh Tomar, Railways, <keyword id="84" type="COMPANY" weightage="20" keywordseo="Commerce">Commerce</keyword> and Food Minister Piyush Goyal and Minister of State for Commerce Som Parkash, who is an MP from Punjab, are holding the talks with the representatives of 41 farmer unions at the Vigyan Bhawan. The meeting began with paying respects to the farmers who lost their lives during the ongoing protest, sources said. On December 30, the sixth round of talks was held between the government and the farmer unions, where some common ground was reached on two demands -- decriminalisation of stubble-burning and continuation of power subsidies. However, no breakthrough could be reached on the two main demands of the protesting farmers -- a repeal of the three recent farm laws and a legal guarantee to the MSP procurement system. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/big-money-chasing-bitcoin-takes-the-cryptocurrency-to-a-new-record-high-of-34000/articleshow/80090730.cms">Big money chasing Bitcoin takes the cryptocurrency to a new record high of $34,000</a> <a href="https://www.businessinsider.in/india/news/pongal-plus-election-dole-cash-rice-sugar-cashews-and-clothes-for-210-million-people-in-tamil-nadu/articleshow/80091546.cms">Pongal plus election dole: Cash, rice, sugar, cashews and clothes for 210 million people in Tamil Nadu</a> <a href="https://www.businessinsider.in/business/auto/news/tata-motors-stock-surge-the-early-trading-hours-today-after-the-company-reported-a-21-increase-in-total-vehicle-sales/articleshow/80092876.cms">Tata Motors’ rallies over 3% as it outshines Mahindra and Maruti in December sales</a> <a href="https://www.businessinsider.in/tech/news/over-100-million-debit-and-credit-card-users-data-has-been-leaked-online-from-payments-processor-juspay-amazon-and-swiggy/articleshow/80096472.cms">The company that processes payments for Amazon and Swiggy has reported a data leak of over 100 million debit and credit cardholders</a>

Govt-farmers meeting underway: Stalemate continues as government refuses to repeal farm laws

New <keyword id="66" type="LOCATION" weightage="20" keywordseo="Delhi">Delhi</keyword>, Seeking to break the deadlock over protests against <keyword id="10002582" type="UNKNOWN" weightage="20" keywordseo="new-farm-laws">new farm laws</keyword>, the government on Saturday told representatives of agitating farmers that they are ready to address all their concerns with an open mind, sources said. At the beginning of the fifth round of talks here at Vigyan Bhawan, Union Agriculture Minister Narendra Singh Tomar told a group of 40 representatives of various farmer unions that the government is committed to cordial talks and welcomed all positive feedback on the new farm laws, sources said. Later, Minister of State for Commerce Som Parkash, an MP from Punjab, addressed the leaders in Punjabi and said the government understands the sentiments of Punjab. "We are ready to address all your concerns with an open mind," a source quoted Parkash as telling the union leaders. The talks between the government and the protesting unions began around 2.30 pm and was also attended by Railway, Commerce and Food Minister Piyush Goyal. In his opening remarks, Tomar, who is leading the talks for the Centre, said the government is committed to "peaceful talks with farmers' leaders and does not intend to hurt farmers' sentiments". The agriculture minister welcomed feedback on the three farm laws, while agriculture secretary Sanjay Agarwal summarised the proceedings of the previous four rounds of talks with farmer unions during the meeting, sources said. The two sides are believed to have discussed contentious issues like provision of dispute resolution and registration of traders in proposed private mandis under the new laws. Ahead of the meeting, Tomar and Goyal, along with senior union ministers Rajnath Singh and Amit Shah, had met Prime Minister Narendra Modi to deliberate over proposals likely to be made to the agitating groups. Modi's decision to hold deliberations with Union ministers, who have so far been the face of the Centre's efforts to end the farmers' agitation, signifies the importance the prime minister has attached to defuse the crisis, sources said. On Thursday, talks between the Union ministers and a representative group of thousands of agitating farmers had failed to yield any resolution, as the union leaders stuck to their demand for the repeal of new farm laws despite the government offering to "discuss and consider with an open mind" some key points of concern raised by farmers in the three new laws. Farmers on Friday announced a 'Bharat Bandh' on December 8 and threatened to intensify their agitation and block more roads leading to the national capital if the government does not accept their demands. Enacted in September, the three farm laws have been presented by the government as major reforms in the agriculture sector that will remove the middlemen and allow farmers to sell anywhere in the country. However, the protesting farmers have expressed apprehension that the new laws would pave the way for eliminating the safety cushion of <keyword id="76332" type="COMPANY" weightage="20" keywordseo="Minimum-Support-Price">Minimum Support Price</keyword> and scrap the mandis, leaving them at the mercy of big corporates. The Centre has maintained the MSP and mandi systems would continue and would be rather further improved and strengthened. Undeterred by the winter chill, thousands of farmers have stayed put at various border points of Delhi for the past nine days as part of their protest against the Centre's farm laws. Before the start of the meeting, an All India Kisan Sabha functionary said only repealing of the new farm laws will end the stalemate. "At this juncture, we have transport unions, retail businesses and other associated groups who have shown solidarity with us. Our movement is not just about farmers," AIKS finance secretary Krishna Prasad said. Outside the meeting venue, employees of the Indian Tourist Transporters Association (ITTA), which has supplied vehicles for the transit movement of the protesting farmers, were seen holding a banner which read 'We support farmers' and shouting slogans backing the peasants' agitation. "I belong to a farmer's family. I can relate to their fears. We had farmland at Mahipalpur and now you see T-3 terminal out there. We are supporting the protesting farmers in their cause," IITA president Satish Sehrawat told . He said the association is providing transportation facility to the farmers since their first meeting. Bharatiya Kisan Union (Rajewal) state general secretary Onkar Singh Agaul said: "Our demand remains the same that the government should withdraw all three farm laws. We want MSP should be guaranteed through law". He also sought scrapping of electricity amendment law and an ordinance on stubble burning. BJP leader from Punjab Surjit Kumar Jayani, while entering Vigyan Bhawan along with his party colleague Harjeet Singh Grewal, hoped the issue will be resolved soon. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/ultratech-cements-5477-crore-expansion-plan-is-a-sign-that-birla-is-betting-on-a-faster-economic-recovery/articleshow/79549626.cms">UltraTech Cement's ₹5,477 crore expansion plan is a sign that Birla is betting on a faster economic recovery</a> <a href="https://www.businessinsider.in/tech/news/sbis-mobile-banking-app-is-down-for-the-third-time-in-last-30-days/articleshow/79548953.cms">SBI’s mobile banking app is down for the third time in 30 days — digital services take a hit for the 25th time this year</a> <a href="https://www.businessinsider.in/policy/economy/news/rbi-governor-shaktikanta-das-believes-that-inflation-is-likely-to-remain-elevated-in-the-winter-months/articleshow/79559454.cms">RBI governor believes inflation is likely to remain elevated this winter</a>

Farmers' protest: Ready to address all concerns, government tells farmer unions at crucial meeting

<ul class="summary-list"><li><keyword id="11893181" type="UNKNOWN" weightage="60" keywordseo="amazon" source="Orion">Amazon</keyword> CEO <keyword id="11936944" type="UNKNOWN" weightage="60" keywordseo="andy-jassy" source="Orion">Andy Jassy</keyword> said a federal minimum wage below $7.50 "feels very wrong."</li><li>Jassy said he's not sure how much higher Amazon's wages will go after reaching a $18 per hour starting average.</li></ul>Amazon CEO Andy Jassy said he believes it's time to raise the federal minimum wage."It's high time that change too," Jassy said during an interview with CNBC Squawk Box on Thursday. "I don't know the exact number, but below $7.50, to me, feels very wrong. I think it should be closer to that $15 minimum wage that we started a few years ago."Amazon has lead retailers in <a href="https://www.businessinsider.com/new-minumum-wage-amazon-salaries-worker-pay-labor-market-shortage-2021-5#:~:text=Amazon%20introduced%20a%20%2415%20minimum,stories%20on%20Insider's%20business%20page.">establishing a new minimum wage</a>. The ecommerce giant <a href="https://www.aboutamazon.com/impact/economy/15-minimum-wage">raised</a> its starting wages for all US employees to at least $15 an hour in 2018. Last fall, the company <a href="https://markets.businessinsider.com/news/stocks/amazon-to-hire-125-000-warehouse-workers-pay-hiked-to-18-1030802927">hiked</a> its average starting salary to $18 an hour. The company has been <a href="https://www.businessinsider.com/amazon-15-minimum-wage-lobbying-offers-new-advantage-against-walmart-2021-2">lobbying Congress</a> to raise the federal minimum wage from $7.25 to at least $15 per hour for four years.Wages have been on the <a href="https://www.businessinsider.com/americans-got-paid-even-more-january-wage-growth-climbs-2022-2#:~:text=That's%20according%20to%20the%20latest,up%206.9%25%20from%20January%202021.">rise</a> in the US over the past year as workers quit their jobs in <a href="https://www.businessinsider.com/workers-quit-near-record-months-employers-wont-fire-labor-shortages-2022-2">record numbers</a> and participated in a <a href="https://www.businessinsider.com/millennial-job-shuffled-higher-pay-remote-work-great-resignation-employment-2022-3">"Great Reshuffle."</a> The pandemic has left many major retailers facing a <a href="https://www.businessinsider.com/potential-reasons-explain-labor-shortage-open-jobs-not-enough-workers-2021-12">labor crunch</a>. In 2021, Amazon grew its workforce to <a href="https://www.usatoday.com/story/money/business/2022/02/07/amazon-increases-base-pay-caps/6697403001/">1.6 million</a> employees, but Jassy said Amazon has not been immune to the labor shortage."Even though we hired a lot of people, we couldn't hire all the people we needed in all the places that we need," Jassy said. Amazon hourly employees have a yearly turnover rate of about 150%, with some workers leaving the company within a few days or weeks of joining, according to data from a <a href="https://www.nytimes.com/interactive/2021/06/15/us/amazon-workers.html">New York Times' investigation.</a> In the past, executives have <a href="https://www.businessinsider.com/amazon-warehouse-turnover-worker-shortage-2021-6">expressed concern</a> that the company will burn through employees so quickly that they could run out of people to hire.The Amazon CEO told CNBC he's not sure how much higher Amazon wages can go."When you run a <keyword id="11893588" type="UNKNOWN" weightage="60" keywordseo="retail" source="Orion">retail</keyword> business like we do, it's true for all retailers, they are relatively low operating margin businesses," Jassy said. "So there's really only so far you can go and have an economic business that makes sense, but we've continued to see wages go up and there's been a very significant acceleration in the last two years. And, you know, it's hard to tell how much more they'll go up. I don't think we'll go backwards though."Despite Amazon's stance on raising the federal minimum wage, the company has sparred with Sen. Bernie Sanders and even US President Joe Biden.Last year, Amazon's consumer chief, Dave Clark, <a href="https://www.businessinsider.com/amazon-bernie-sanders-alabama-visit-response-dave-clark-2021-3">said</a> Amazon is "like the Bernie Sanders of employers," but that "we actually deliver a progressive workplace for our constituents."More recently, Biden <a href="https://www.businessinsider.com/president-joe-biden-amazon-here-we-come-union-speech-2022-4">took a swipe</a> at Amazon. The president waded into Amazon unionization efforts earlier this month and warned: "Amazon, here we come. Watch." Biden's warning came less than a week after Amazon workers at a warehouse in Staten Island, New York became <a href="https://www.businessinsider.com/amazon-warehouse-new-york-staten-island-alu-union-nlrb-vote-2022-4">the first to successfully unionize,</a> though the retailer is <a href="https://www.businessinsider.com/amazon-union-new-york-staten-island-marijuana-cannabis-jfk8-2022-4">challenging</a> the legitimacy of the vote.Jassy responded to Biden's warning during his interview with CNBC and said he believes Amazon workers are "better off" without a union."Everyone is entitled to their own opinion. We have a lot of things that we have supported the administration on and agree with them on," Jassy said. "We won't agree on everything though," he added.

Amazon CEO says 'it's high time' the government increases the federal minimum wage

New Delhi, The protest by farmers camping at the borders of the national capital continued for the 42nd day on Wednesday. The leaders of the farmers unions demanding the <keyword id="589066" type="PERSON" weightage="20" keywordseo="repeal">repeal</keyword> of the three new <keyword id="9970645" type="UNKNOWN" weightage="20" keywordseo="farm-laws">farm laws</keyword> and the procurement of crops at the <keyword id="76332" type="COMPANY" weightage="20" keywordseo="Minimum-Support-Price">Minimum Support Price</keyword> (MSP) are now readying for a 'Tractor March' announced by the Samyukta Kisan Morcha on the Eastern and Western Peripheral Expressways on Thursday. Harinder Singh Lakhowal, <keyword id="6354953" type="PERSON" weightage="20" keywordseo="punjab">Punjab</keyword> farmer leader and General Secretary of the Bharatiya Kisan Union (BKU), told IANS that preparations were on to intensify the agitation and make the programme on Thursday a success. He informed that farmers from Punjab are coming with their tractors for the march. Farmers from <keyword id="41646" type="LOCATION" weightage="20" keywordseo="Haryana">Haryana</keyword>, Uttar Pradesh and Rajasthan are also joining the rally. <keyword id="6497740" type="UNKNOWN" weightage="20" keywordseo="farmers-leaders">Farmers leaders</keyword> said the 'Tractor March' would be a trailer of the 'Republic Day Parade' scheduled on <keyword id="47381" type="PERSON" weightage="20" keywordseo="January">January</keyword> 26. After the seventh round of talks with the Central government on Monday remained inconclusive, the farmers decided to take out a 'Tractor March' on January 7. Earlier the Samyukta Kisan Morcha had scheduled the rally for January 6 but due to the bad weather forecast the march was postponed to January 7. The Samyukta Kisan Morcha (SKM) has also announced a public awareness campaign as well as several other programmes from January 6 to January 20. The SKM said the death anniversary of Sir Chhotu Ram will be observed on January 9. Sir Chhotu Ram is remembered as a farmer leader. After this, the farmers will celebrate Lohri on January 13 and Makar Sankranti on January 14 as 'Sankalp Diwas'. Withdrawal of The Farmers' Produce Trade and Commerce (Promotion and Facilitation) Act 2020, The Farmers (Empowerment and Protection) Agreement of Price Assurance and Farm Services Act 2020 and The Essential Commodities (Amendment) Act 2020 enacted by the Central government and the legal guarantee for procurement of crops at the Minimum Support Price is being demanded by the farmers, who have been camping at the borders of Delhi since November 26, 2020. After the seventh round of talks between the farmers-Central government failed to arrive at a consensus on Monday, the next round of talks has been fixed for January 8. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/here-are-the-top-10-virus-and-diseases-that-could-cause-the-next-pandemic-if-they-arent-stopped-in-their-tracks/slidelist/80116787.cms">Diseases deadlier than COVID-19 are already in the making — here are the top ten candidates that could cause the next pandemic</a> <a href="https://www.businessinsider.in/stock-market/news/analysts-explain-why-burger-king-and-mrs-bectors-shares-fell-with-a-thud-and-what-to-do-now/articleshow/80120941.cms">Analysts explain why Burger King and Mrs Bector’s shares fell with a thud — and what to do now</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-bajaj-finance-hdfc-bank-beml-indigo-godrej-consumer-hero-moto-and-others/articleshow/80126217.cms">Top stocks to watch — Bajaj Finance, HDFC Bank, BEML, IndiGo, Godrej Consumer, Hero Moto, and others</a>

Farmers' Protest: Farmers leaders to prepare for 'Tractor March' on January 7

<keyword id="6358070" type="LOCATION" weightage="20" keywordseo="mumbai">Mumbai</keyword>, A group of farmers from <keyword id="13126" type="COMPANY" weightage="20" keywordseo="Maharashtra">Maharashtra</keyword> on Saturday joined protesters at one of the borders of Delhi, an All <keyword id="6304958" type="ORGANIZATION" weightage="20" keywordseo="india-kisan-sabha">India Kisan Sabha</keyword> (AIKS) leader said and added that tillers have expressed willingness to discuss issues with the government but wanted certain clauses from the three <keyword id="10011027" type="UNKNOWN" weightage="20" keywordseo="agri-laws">agri laws</keyword> removed. On Monday, thousands of farmers from Maharashtra had left for Delhi from Nashik in vehicles to join the ongoing agitation seeking the repeal of the legislations. "We received a rousing welcome at a <keyword id="6358777" type="LOCATION" weightage="20" keywordseo="New-Delhi">New Delhi</keyword> border. Farmers sitting on protests here welcomed us and thanked us for joining them," All India Kisan Sabha secretary, Maharashtra, Ajit Navle, said in a statement. He said that farmers have expressed willingness to discuss their issues with the government, "but we want some clauses in the recenty-passed laws, which do not protect the interests of farmers, removed". The farmers from Maharashtra, who started off in private vehicles from Nashik on Monday, were led by leaders of the Kisan Sabha. According to the Kisan Sabha, cultivators from 21 districts in Maharashtra had joined the "vehicle march" to Delhi. Enacted in September, the three farm laws have been projected by the Central government as major reforms in the agriculture sector that will remove the middlemen and allow farmers to sell anywhere in the country. However, the protesting farmers have expressed apprehension that the new laws would pave the way for eliminating the safety cushion of <keyword id="76332" type="COMPANY" weightage="20" keywordseo="Minimum-Support-Price">Minimum Support Price</keyword> and do away with the mandi system, leaving them at the mercy of big corporates. The government has repeatedly asserted that the MSP and Mandi systems will stay and has accused the opposition of misleading the farmers. Multiple rounds of talks held between the government and the protesting farmers, mostly from Punjab and Haryana, have failed to break the ongoing impasse. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-mrs-bectors-ril-bharti-airtel-vodafone-idea-ilfs-interglobe-aviation-future-group-deepak-nitrite-jubilant-foodworks-and-others/articleshow/79933826.cms">Top stocks to watch – Mrs Bectors, RIL, Bharti Airtel, Vodafone Idea, IL&amp;FS, InterGlobe Aviation, Future Group, Deepak Nitrite, Jubilant FoodWorks, and others</a> <a href="https://www.businessinsider.in/stock-market/news/there-are-one-of-only-17-indian-companies-out-of-500-that-aced-the-du-pont-test/articleshow/79911627.cms">There are one of only 17 Indian companies out of 500 that aced the Du Pont test</a> <a href="https://www.businessinsider.in/business/corporates/news/wipro-buyback-offer-details-and-700-million-metro-ag-deal-drives-share-price/articleshow/79911875.cms">Wipro offers 10% more to buy back shares and signs a $700 million deal with Metro AG – everything that’s driving the IT services stock higher today</a>

Farmers' Protest: Farmers from Maharashtra joined protestors at Delhi border

Chandigarh, Angry over three agriculture-related Bills, hundreds of farmers blocked major highways in parts of Punjab and Haryana on Wednesday to demand that the proposed laws should not be pursued in Parliament. The protesters also warned that if any Member of Parliament from Punjab supported the farm Bills in Parliament, he or she would not be allowed to enter villages. "The MPs who support the farm bills in Parliament will not be allowed to enter the villages," said <keyword id="65264" type="COMPANY" weightage="20" keywordseo="Bharatiya-Kisan-Union">Bharatiya Kisan Union</keyword> (Lakhowal) General Secretary Harinder Singh Lakhowal. He said members of his outfit along with those from other farmers' organisations blocked roads, mainly national highways, at several places in Punjab. There were reports of farmers blocking highways in Haryana also. In Punjab, a sit-in was started by protesters outside <keyword id="4504845" type="PERSON" weightage="20" keywordseo="Chief-Minister-Amarinder-Singh">Chief Minister Amarinder Singh</keyword>'s residence in Patiala town and also outside former Chief Minister and Akali Dal leader Parkash Singh Badal's residence at his native Badal village in <keyword id="1421717" type="LOCATION" weightage="20" keywordseo="Muktsar-district">Muktsar district</keyword>. Farmers from both the states also staged a protest at the Jantar Mantar in New Delhi against the Bills. Later, the police detained them. Heavy police presence was seen at various places in Haryana and Punjab to maintain law and order in view of the protest by farmers. Punjab Chief Minister Amarinder Singh appealed to the farmers not to stop traffic or violate Section 144 of the CrPC in the state over the agriculture Bills, but made it clear that no cases would be registered against them as "they are fighting for their lives". FIRs already registered against farmers protesting in violation of Section 144 would be withdrawn, said the Chief Minister on Wednesday. He was talking to media persons outside the Governor's House after submitting a memorandum against the anti-farmer Bills on behalf of the Punjab Congress. The ordinances would pave the way for ending <keyword id="9332769" type="COMPANY" weightage="20" keywordseo="the-minimum-support-price">the Minimum Support Price</keyword> (MSP) regime, which will spell doom for Punjab, and in fact the whole nation, he added. Amarinder Singh urged the farmers to take their protests to Delhi, on the doorsteps of the central government, and assured them of Congress support in their fight. SEE ALSO: <a href="https://www.businessinsider.in/india/news/punjab-cm-asks-farmers-to-not-block-roads-says-firs-filed-against-them-will-be-withdrawn/articleshow/78144098.cms" data-type="tilCustomLink">Punjab CM asks farmers to not block roads, says FIRs filed against them will be withdrawn</a> <a href="https://www.businessinsider.in/india/news/opposition-leaders-slam-centre-over-onion-export-ban/articleshow/78144040.cms" data-type="tilCustomLink">Opposition leaders slam Centre over onion export ban</a>

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