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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

New Delhi, The government on Wednesday announced hiking the <keyword id="20069652" type="General" weightage="20" keywordseo="sugarcane" source="keywords">sugarcane</keyword> <keyword id="20544473" type="General" weightage="20" keywordseo="frp" source="keywords">FRP</keyword> by Rs 25 to Rs 340 per quintal for the 2024-25 season starting October. Fair and Remunerative Price (FRP) is the minimum price that mills have to pay to sugarcane growers. The decision to increase the FRP of sugarcane was taken at the meeting of the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword>. The Rs 25 per quintal hike is the highest by the Modi government and the move comes ahead of the general elections. Sugarcane is grown mainly in Maharashtra, <keyword id="19894922" type="General" weightage="20" keywordseo="uttar-pradesh" source="keywords">Uttar Pradesh</keyword>, and Karnataka. "Keeping in view interest of sugarcane farmers (GannaKisan), the Cabinet Committee on Economic Affairs has approved Fair and Remunerative Price (FRP) of sugarcane for sugar season 2024-25 (October - September) at Rs 340 per quintal for a basic recovery rate of 10.25 per cent," I&amp;B Minister <keyword id="19895497" type="General" weightage="20" keywordseo="anurag-thakur" source="keywords">Anurag Thakur</keyword> said at a media briefing. The FRP has been determined on the basis of recommendations of the Commission for Agricultural Costs and Prices (CACP) and after consultation with state governments and other stakeholders.

Cabinet approves hike in sugarcane FRP by ₹25 to ₹340 per quintal for 2024-25 season

In a significant move aimed at recognising mothers' vital roles in upbringing, the Maharashtra cabinet has mandated the inclusion of mothers' names in government documents. Effective May 1, 2024, the format for government documents will require the document-holder’s first name to be followed by the mother’s first name and then the father’s first name and surname. Individuals born on or after May 1, 2014, are required to adhere to this format for all government documents, including birth certificates, property documents, Aadhar cards and PAN cards, as well as school and revenue documents, examination certificates and salary slips, as stated in the government’s press note. The state's public health department has been tasked with consulting the Centre regarding the inclusion of the mother’s name in birth and death registrations. For married women, the prevailing practice of listing the woman’s name followed by her husband’s first name and surname will remain unchanged. Orphans will be exempt from including the mother’s name. In alignment with this decision, Maharashtra Chief Minister <keyword id="19913631" type="General" weightage="20" keywordseo="eknath-shinde" source="keywords">Eknath Shinde</keyword> had a new nameplate installed outside his office chamber at the state secretariat in south Mumbai. The updated nameplate now includes his mother's name before that of his father, reading 'Eknath Gangubai Sambhaji Shinde'. Shinde posted a picture of the same on his X, with part of the caption reading: “The state government has taken a historic decision to give credit to Mauli, who plays a lion's share in raising us right from giving birth to us.” <div type="twitter" handle="mieknathshinde" handlename="mieknathshinde" favoritecount="0" retweetcount="0" id="1767428216350753121"></div> Historically, government documents have predominantly featured the father's name. However, acknowledging that mothers are equally instrumental in a child's upbringing, the <keyword id="20822121" type="General" weightage="20" keywordseo="women-and-child-development-department" source="keywords">Women and Child Development Department</keyword> emphasised the necessity of granting mothers the recognition they deserve. Meanwhile, critics have questioned whether this move is a pre-election strategy to appeal to women voters before the Lok Sabha polls' code of conduct is enforced. Overall, experts feel that the move could provide an opportunity for revisiting the archaic practices of a patriarchal presence throughout an individual’s life.

Why should fathers have all the mentions? Maharashtra govt mandates inclusion of mothers’ names in documents as recognition of their vital role

The <keyword id="6355512" type="General" weightage="20" keywordseo="Union-Cabinet" source="Orion">Union Cabinet</keyword> on Wednesday approved the much-anticipated <keyword id="8870884" type="General" weightage="20" keywordseo="production-linked-incentive" source="Orion">production linked incentive</keyword> (PLI) scheme for the textiles sector. Under the scheme incentives worth ₹10,683 crore will be provided over five years. According to the government, the move will especially positively impact states like Gujarat, <keyword id="6357713" type="General" weightage="20" keywordseo="Uttar-Pradesh" source="Orion">Uttar Pradesh</keyword>, <keyword id="13126" type="General" weightage="20" keywordseo="Maharashtra" source="Orion">Maharashtra</keyword>, Tamil Nadu, Punjab, Andhra Pradesh, Telangana, Odisha among others. The government expects investments of more than ₹19,000 crore into the sector during the five-year period. It is also expected to bring about additional production turnover of over ₹3 lakh crore during the period and create employment opportunities of over 7.5 lakh people directly and several lakhs more for supporting activities, as per the government. The government will give higher priority for investment in the aspirational districts and tier-3 cities. Industry participants have lauded the decision of the government. Apparel Export Promotion Council (AEPC) Chairman A. Sakthivel said that it will be a game changer for the Indian textile industry and will transform India's growth story. Sakthivel said that the scheme will result in fresh investment of gigantic proportions, expand manufacturing capacities and enhance exports multifold. "It will make India a key player in the global textile value chain with focus on high value MMF products. Besides, it will promote industrial development in backward regions of the country," he added. The focus of the <keyword id="8941225" type="General" weightage="20" keywordseo="PLI-SCHEME" source="Orion">PLI scheme</keyword> would be for the development of man-made fibre and technical fibre segments that are in high demand in advanced economies where India already has a big presence with its technical products. Commerce and Industry Minister Piyush Goyal said that fabric and garments made from these fibres would be a focus of the scheme so that world class facilities are built in the country. He also said that the government was also working on free trade agreements (FTAs) with advanced economies such as the UK, the US, EU that will help the country both ways to get requisition imports as well boost exports. FTA would also help the textile sector, the minister said, in getting a level playing field that faced unequal duties in some of these markets. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-and-airtel-stocks-fall-amid-reports-that-government-hasnt-discussed-proposal-for-a-telecom-relief-package/articleshow/86033281.cms">Vodafone Idea falls amid reports that government hasn’t discussed proposal for a telecom relief package</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/here-is-how-naukri-parent-info-edges-stock-went-up-23-in-the-last-one-month/articleshow/86032576.cms">Here is how Naukri parent Info Edge’s stock went up 23% in the last one month</a>

Union Cabinet approves PLI scheme worth ₹10,683 crore for textiles

<ul><li>Maharashtra Cabinet approved a proposal to cut MLA salaries by 30% for a year. </li><li>This decision came after the Yogi Adityanath government in Uttar Pradesh passed a resolution suspending the MLAs fund for one year. </li><li>Maharashtra is the epicenter of the disease with 1135 Coronavirus positive cases — with 72 deaths, as on April 9. </li></ul>Maharashtra Cabinet approved a proposal for 30% salary cut for all Members of the legislative assembly (MLAs) for a year today. This pay cut will be applicable from the month of April and there are as many as 288 MLAs in the state. This decision came after the Yogi Adityanath government in Uttar Pradesh passed a resolution suspending the MLAs fund for one year. This will help them add ₹1,500 crore for Covid-19 fund. Earlier this month, Maharashtra along with Telangana, Odisha, Rajasthan and Andhra Pradesh announced pay cuts for government employees to back up the state economies amid the Coronavirus outbreak. Maharashtra's deputy chief minister Ajit Pawar then said that the state government employees — including the Chief Minister, MLAs and members of state legislative council — will have to forfeit 60% of their salaries in March in view of the global pandemic. "The salaries of Class I and II will be cut by 50% while that of Class III employees will be cut by 25%. There will be no cut in the salaries of remaining classes in the state bureaucracy," Pawar said. Pawar said that the economy has been affected due to Coronavirus and cutting down on resources due to lockdown is only making it worse. “I hope the public representatives will cooperate with the state finance department as a strong financial support is required for the state in this ongoing fight against coronavirus,” he added. Maharashtra is the epicenter of the disease with 1135 Coronavirus positive cases — with 72 deaths, as on April 9. India has 6373 cases in all, and is trying hard to stop the epidemic from spreading from Stage 2 to Stage 3, which is when community spread will be rampant. As of now, the government is hoping to arrest the disease within these hotspots and ensure unabated spreading does not occur. It is also considering extending the 21-day lockdown which is expected to end on April 14. SEE ALSO: <a href="https://www.businessinsider.in/india/news/after-telangana-maharashtra-announces-60-pay-cut-for-government-employees/articleshow/74912477.cms" data-type="tilCustomLink">Rajasthan, Odisha and Andhra Pradesh join the list of states which cut government employee pay</a>

Maharashtra to cut salaries of all its MLAs by 30% for the entire year

Long stints in electoral politics and past experience in handling key government departments are the hallmarks of Congress-NCP-Shiv Sena legislators who took oath as ministers along with Maharashtra Chief Minister Uddhav Thackeray at the Shivaji Park here on Thursday evening. Thackeray is heading a coalition government, the Maha Vikas Aghadi (MVA), whose main constituents are the Sena, the Congress and the NCP. <keyword id="6360285" type="PERSON" weightage="20" keywordseo="chhagan-bhujbal">Chhagan Bhujbal</keyword>, Jayant Patil (both from the NCP), Balasaheb Thorat and Nitin Raut (both from the Congress), Eknath Shinde and Subhash Desai (both from the Sena) took oath as ministers along with Thackeray. Chhagan Bhujbal: Bhujbal (72) is a veteran figure in Maharashtra politics, who has the rare distinction of being associated with all the three major non-BJP parties in the state. A senior Nationalist Congress Party (NCP) leader, Bhujbal had been a member of both the Shiv Sena and the Congress at different times. Taking over as a minister is a sort of revival of his political fortunes after spending two years in jail since March 2016 in a money laundering case when the BJP-led government was in power. Bhujbal, who represents the OBC community, cut his political teeth in the Shiv Sena. He served as the Mayor of Mumbai, a Sena bastion, two times - 1985-86 and 1990-91. He quit the Sena in 1991, causing quite a stir in state politics, and joined the Congress. Bhujbal resigned from the Congress in 1999 and sided with Sharad Pawar who formed the NCP the same year. He became deputy chief minister in December 2008 and held key portfolios such as home affairs and public works in the Congress-NCP government. Jayant Patil: Jayant Patil (57) is perceived as a leader with a clean image. He took charge of the NCP's Maharashtra unit replacing Sunil Tatkare in April 2018, ahead of the crucial Lok Sabha and state Assembly polls. The NCP retained its tally in the 2019 April Lok Sabha election and fared better in the October Assembly polls, but the credit largely went to his boss, Pawar. Being part of a motley alliance of once-rival and ideologically divergent parties, Patil, known for composed demeanour, will be one of the key leaders who will be seen doing the trapeze act to ensure the three-party government sustains. Patil, son of well-known Maharashtra leader the late Rajaram Patil, held key portfolios like finance, home and rural development from 1999 to 2014 when the Congress-NCP combine ruled the state. Eknath Shinde: Shinde (55) is the most prominent face of the Sena in the adjoining Thane city from where has been elected consecutively four terms to the assembly. Considered a troubleshooter in the Sena, Shinde was the PWD minister in the previous BJP-led government (2014-19. Subhash Desai: One of the confidants of Uddhav Thackeray, Desai (77) is currently an MLC. The senior-most member of the cabinet had been a member of the assembly three times. Now serving his third term in the upper house of the legislature, Desai was the industries minister in the 2014-19 BJP-Sena government. Balasaheb Thorat: Congress leader Balasaheb Thorat (66) took charge of the party's state unit at a difficult time. When Thorat became the Maharashtra Congress chief in July this year, the party was already staring down the barrel after its Lok Sabha poll debacle in the state, once its citadel. It could win only one seat in the general election and was relegated to inferior position than its ally, the NCP. The Congress (44) though fared better in the Assembly elections, winning two more seats than its 2014 tally. The result may not be satisfactory for the party, which led the state several times in the past, a trusted lieutenant of the party's central leadership, Thorat ensured proper co-ordination in the state unit hit by factionalism. Thorat, known for maintaining a low profile, was first elected as an MLA from Sangamner in 1985 as an independent. In 1990, he contested Assembly poll on a Congress ticket and this is his eighth term as a legislator. He became a minister of state in 1999 and was promoted as a cabinet minister in 2004. The Congress legislature party leader has held revenue, agriculture, water conservation and protocol portfolios in the past. Nitin Raut: A key leader of the Congress from its erstwhile bastion of Vidarbha in eastern Maharashtra, Raut (62) is a four-term MLA. He is national chairman of the Congress's Scheduled Caste department and one of the working presidents of the party in Maharashtra. Hailing from Nagpur, Raut, too, comes with past experience in government. He has held animal husbandry, employment guarantee and water conservation departments so far.

A quick look at Uddhav Thackeray's cabinet as he heads a coalition government in Maharashtra

<ul><li>Indian Finance Minister, <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword>, has announced a ban on e-cigarettes in India. </li><li>She said e-cigarettes are being used as a 'style statement' rather than a tool to quit smoking.</li><li>The ban is subject to approval from the Indian parliament.</li></ul> Indian Finance Minister and cabinet member, Nirmala Sitharam, announced a total ban on every aspect of e-cigarettes in the country. "Production, manufacturing, import, export, transport, sale, distribution, storage and advertisements related to e-cigarettes are all banned in India. It is banned in all these nine forms," stated Sitharam during the cabinet briefing. She said that the decision is being taken in lieu of the seven deaths, which occurred in the US over the past week, directly linked to the use of e-cigarettes. <div type="twitter" handle="PIB_India" handlename="PIB India" image="http://pbs.twimg.com/profile_images/974552536408444928/TVZG_9jP_normal.jpg" favoritecount="104" retweetcount="38" status="#UnionCabinet approves the promulgation of the prohibition of E-Cigarettes Ordinance, 2019. The decision to prohib… https://t.co/DF4OUMqGGa" createdat="1568800703000" id="1174261375339827201"></div>

 "The cabinet, rightly, thought it's time to immediately take a decision so that the health of our youth and citizens is not risked," said Sitharam. E-cigarettes are a 'style statement' A large number of e-cigarette models are available in the market today. However, none of them are produced in India. The government believes that are currently over 400 brands of e-cigarettes in the country available in over 150 flavours. The varieties on offer tend to make people try them due to the 'cool' factor, rather than the devices being used for their original purpose, which is to help people quit smoking. "In India, ground reports say that e-cigs are being used as a 'style statement'," said Sitharaman. "Reports say many people are not using it to quit smoking but actually smoking cigarettes as well as e-cigarettes, if they're already smokers. Some are getting into the habit because it seems cool," she explained. Passive smoking E-cigarettes were banned as they are not only harmful to the user and those around them. The fact that're odourless makes even more dangerous, according to Sitharaman. "The smoke exhaled by a user of e-cigarettes, contains a high level of residual nicotine, which for people around standing as passive smokers — it will affect them too," she said. While the cabinet approved the ban, it is subject to approval from the government. The ordinance advises the government to analyse the impact of e-cigarettes on people and their health. The cabinet will take the matter forward during the next session of parliament.

Cabinet bans e-cigarettes which are 'harmful' and a 'style statement'

New Delhi, Feb 5 () The government on Wednesday approved setting up a new major port at Vadhavan near Dahanu in Maharashtra at a cost of Rs 65,544.54 crore.The decision was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi."Cabinet gives in-principle approval for setting up a new Major Port at Vadhavan in Maharashtra. Total cost of the project is likely to be Rs 65,544.54 crore," an official statement said.Vadhavan port will be developed on landlord model, it said, adding a special purpose vehicle (SPV) will also be formed with Jawaharlal Nehru Port Trust (JNPT) as the lead partner with equity participation equal to or more than 50 per cent to implement the project.The SPV, the statement said, will develop the port infrastructure, including reclamation, construction of breakwater, besides establishing connectivity to the hinterland, and all the business activities will be undertaken under public private partnership (PPP) by private developers.The position of JN Port, the biggest container port in India, is 28th in the world with a traffic of 5.1 million TEUs (Twenty-Foot Equivalent Units).Even after the completion of 4th terminal at JN Port with a capacity increase up to 10 million TEUs by 2023, it will stand as the 17th largest container port in the world."With the development of Vadhavan port, India will break into the countries with top 10 container ports in the world," it said.The ever increasing size of container ships makes it imperative that a deep draft container port in West Coast of India is developed.Increasing containerization of cargo in the wake of value-added manufacturing sector makes it important to prepare our port infrastructure for handling import and export to facilitate manufacturing activity.Container traffic in the JNPT hinterland is expected to grow from 4.5 MTEUs currently to 10.1 MTEUs by 2022-25 when JNPT's potential will be fully exhausted.The demand for container traffic will further accelerate after the plans for improving logistic infrastructure fructify and the 'Make in India' push drives greater exports and manufacture sourcing to India. ABI BAL

Cabinet approves setting up a major port in Maharashtra at a cost of Rs 65,000 cr

Pointing to the hectic political activities of the last fortnight, Maharashtra Chief Minister <keyword id="193503" type="General" weightage="20" keywordseo="eknath-shinde" source="Orion">Eknath Shinde</keyword> on Monday said he will need some time before he and deputy chief minister <keyword id="6355042" type="General" weightage="20" keywordseo="devendra-fadnavis" source="Orion">Devendra Fadnavis</keyword> of <keyword id="14666" type="General" weightage="20" keywordseo="bjp" source="Orion">BJP</keyword> discuss the allocation of cabinet portfolios. Earlier in the day, the Eknath Shinde-led government won the trust vote in the Assembly. With 164 MLAs voting for the motion of confidence and 99 against it, the Shinde government appears firm in the saddle with the support of the BJP and others. "Let us breathe properly. It was quite hectic for us. I and Devendra Fadnavis will sit and discuss cabinet portfolios and their allocation. We will also get the allocation vetted from national leaders of the BJP," Shinde told reporters after winning the trust vote. We have gone through a lot in the last few days. Give us some time to meet our families. We will decide it (distribution of ministries), he added. When asked whether <keyword id="6358821" type="General" weightage="20" keywordseo="shiv-sena" source="Orion">Shiv Sena</keyword> MPs are supporting the Shinde camp, he said, "Whether they will vote for the NDA candidate in the Presidential polls or not, it cannot be said now. I will talk about it in the next two days". SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/how-indian-auto-companies-like-bajaj-auto-tata-motors-hero-tvs-kia-performed-in-june-2022/slidelist/92657725.cms">Bajaj in top gear, Hero flat while Maruti declines – here’s how Indian auto cos performed in June 2022</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/revenge-shopping-and-revenge-travelling-trends-are-simmering-down-in-india/articleshow/92657372.cms">Revenge shopping and revenge travelling trends are simmering down in India</a>

You Searched For "Maharashtra cabinet" and got 9 results

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

PTI

Cabinet approves hike in sugarcane FRP by ₹25 to ₹340 per quintal for 2024-25 season

PTI

Why should fathers have all the mentions? Maharashtra govt mandates inclusion of mothers’ names in documents as recognition of their vital role

Kunal Kambli

Union Cabinet approves PLI scheme worth ₹10,683 crore for textiles

IANS

Maharashtra to cut salaries of all its MLAs by 30% for the entire year

Navdeep Yadav

A quick look at Uddhav Thackeray's cabinet as he heads a coalition government in Maharashtra

PTI

Cabinet bans e-cigarettes which are 'harmful' and a 'style statement'

Prabhjote Gill

Cabinet approves setting up a major port in Maharashtra at a cost of Rs 65,000 cr

PTI

Eknath Shinde wants a 'breather' and spend time with families

PTI

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