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Flash flood in Sikkim; 23 army personnel missing
The water level increased drastically overnight, affecting the Dam...
UK launches review of regulators, searching for post-Brexit advantages
"It's clear that the regulators that enforce the rules can also...
Budget 2019-20 pushes for electric vehicles
The Niti Aayog has recently moved a note to the Finance Ministry calling for the scrapping of all fossil fuel based vehicles by 2030. Most auto manufacturers are up in arms as they feel that a big shift in a short span of time would be too disruptive and tumultuous. Especially, in the current situation, auto companies do not have the capacity to take up such investments.
FM provides relief for NPS subscribers
However, Sandip Shrikhande, CEO, Kotak Mahindra Pension Fund , said “From a NPS point of view, the budget has proved to be a bit of a dampener. 14% limit is applicable only to the Central Government’s contributions to its employee’s account. Similarly, 80C exemption on Tier II contributions is available only to Central Government employees. The good thing is that the withdrawal is now completely tax-free.”
Insurers hail “Growth Oriented” Budget 2019-20
However, Karthik Srinivasan,senior vice president and group head, financial sector ratings,ICRA Ltd, said the absence of any capital infusion plan for the public sector general insurance companies, most of whom require capital to avoid breaching regulatory solvency ratio
India needs to grow at 8% per annum to become a $5 trillion economy by FY25
India on Thursday forecast its annual economic growth could accelerate to 7 per cent in the 2019/20 fiscal year from an estimated 6.8 per cent in the previous year, two government sources said, that could help it regain the status of world’s fastest-growing major economy by overtaking China.
Global insurance prms exceed a record $5 trillion in 2018, to grow by 3% in 2019/20:Swiss Re Study
The non-life sector faces a fundamental structural shift over the next decades,with a possible decline in premiums from motor, the dominant line of business today. This potential decline will come as a result of the ongoing evolution of advanced driver-assistance systems and self-driving car technologies, which are expected to lead to lower claims, and so also lower premium rates and volumes in motor.
Retirement age set to rise due to higher life expectancy: Eco Survey
“Since an increase in the retirement age is perhaps inevitable, it may be worthwhile signalling this change well in advance perhaps a decade before the anticipated shift so that the workforce can be prepared for it,” the Economic Survey for 2018-19, tabled in Parliament by Finance Minister Nirmala Sitharaman Thursday, said.
Economic Survey 2018-19: Emphasise on EVs, frame policy to reduce total ownership cost
The Survey further said that given the commitments that India has made on the climate front as a nation and the increasing awareness of the consumers on environmental aspects, it is likely that larger and larger share of the automobile sector will be in the form of electric vehicles.
Eco Survey suggests setting up of national health register
The various components of this register can include databases for (i) hospitals and public health centres, (ii) surveillance of syndromes, (iii) immunization information systems, (iv) electronic laboratory reporting, and (v) sub-registries for key diseases requiring intervention such as diabetes, hypertension, cancer, AIDS, etc.
Eco Survey favours the idea of Digital Locker to store citizens’ critical data
DigiLocker makes all their documents available, in a verified format, in one place on the cloud. Citizens only need an internet connected device, smartphone or computer to access the locker.
Banks see whopping 73% spike in frauds at Rs 71,543 crore in FY19
Banks, on an average, report fraud loss of Rs 35,000 crore every year. “This does not take into account loss to investors and other financial and operational creditors, apart from the intangible losses to the system,” said RBI’s Jayant Dash