MOCK INTERVIEW Session 2015 | Earth Eduvision Ensemble IAS Academy

Govt retains interest rate for GPF at 8.7% for current fiscal

The government has retained the rate of interest for General Provident Fund (GPF) and other related schemes at 8.7 percent for the current fiscal.

The 8.7 percent interest will apply on Provident Funds of central government employees, railways and defence forces, according to the notification issued by the Finance Ministry.  The rate of interest will be effective from 1st April 2015,   The interest rate for GPF is in line with the interest rate fixed for Public Provident Fund (PPF) at 8.7 percent for 2015-16.  The government had, however, raised the interest rates for other small saving schemes.  The interest rate for senior citizens savings scheme was hiked from 9.2 percent to 9.3 percent and for Sukanya Samriddhi Account, the special deposit scheme for girl child, the interest rate has been hiked from 9.1 percent to 9.2 percent, respectively.  The interest earning for Kisan Vikas Patra has been retained at 8.7 percent.

Nasim Zaidi takes charge as new CEC of India

Nasim Zaidi has taken over as the Chief Election Commissioner of India on Sunday 19th april 2015.

Nasim Zaidi said that Election Commission will come out with a long term plan for further streamlining the election process. He succeeded HS Brahma, who retired as the Chief Election Commissioner on Saturday. Zaidi will be the sole member of the three-member Election Commission, which has two vacant posts of Election Commissioners.  Zaidi will have a tenure up to July, 2017. He is a 1976 batch IAS officer from Uttar Pradesh cadre.

Advantages of National Pension Scheme | Know About NPS

Stressing that the old age traditional support system for retired people is increasingly eroding in India, Government highlighted on the need for making National Pension System universal.

Minister of State for Finance Jayant Sinha said that Indian equity markets are one of the most volatile markets in the world and if we will make our pension market smooth and steady, then volatility in equity market will be less and people will start investing more in stock markets. NPS was initially introduced for the central government employees joining on or after January 1, 2004. Retirement planning is often under-addressed by individuals, especially professionals. Most individuals contribute on relatively moderate provident funds but the long term products related to post retirement are not given due importance. Government came up with the National Pension System, on January 1, 2004 aiming to overcome these limitations by offering higher returns and tax benefits. NPS was made available to the centre govt employees. In 2009, it was made available to all the citizens. Later in December 2011, a customized version of NPS, Known as NPS Corporate Sector Model was introduced to facilitate the organised entities including public sector organisations. Government's NPS-corporate Model will provide a platform for the employers of corporate and public sector entities to extend the old age social security benefits to their employees. Also to co-contribute for employee’s pension, with flexibility in the amount of contribution from employee or employer. MoS Finance, Jayant Sinha reiterated government's Sabka Saath Sabka Vikas mission and added that the government is committed to extend the pension benefits to all. Let's first understand the advantages that NPS creates for investors: Advantages of NPS : • Both Employee and Employer can avail tax benefits under the scheme. The Employee can save tax on his contribution under 80CCD(1) as well as the contribution made by employer under 80 CCD(2) Employer can also claim tax benefits for his contribution as business expenses. • The additional tax deduction of Rs.50,000 for investments done in NPS. • It would now be offered as an alternative benefit to the employees besides EPF. • It is one of the lowest cost pension schemes in the world. • It is portable i.e. can be managed and operated from any part of the country. • It offers flexibility of choice of pension fund manager. NPS is an alternative besides EPF. Under NPS, the following types of account are available: •Tier-1 Account Employee /Employer can contribute for retirement into this non-withdrawal account. •Tier-2 Account This account is a voluntary savings facility, where the subscriber can avail fund management facility at very low cost. Subscribers are free to withdraw amount from this account as per their wish. The NPS Model allow all three variations of contribution from employer and employee: •Unequal contributions by the employers and employee •Contribution from either the employer or the employee National Pension Scheme is an opportunity for all to invest for their old age and also avail the tax benefits. It also fulfills the Government's mission of providing universal social security to all.

A Complete Support to Your Interview / personality Test 2015

 

A Complete Support to Your Interview / personality Test 2015
A series of #Intellectual Stimulating lectures designed in such a Way that students can #answer any question on it.   #CivilServices #AAG   #EarthEduvisionEnsemble  #EEE

Have a Colorful Holi

Highlights of Union Budget 2015

1. Abolition of Wealth Tax.
2. Additional 2% surcharge for the super rich with income of over Rs. 1 crore.
3. Rate of corporate tax to be reduced to 25% over next four years.
4. No change in tax slabs.
5. Total exemption of up to Rs. 4,44,200 can be achieved.
6. 100% exemption for contribution to Swachch Bharat, apart from CSR.
7. Service tax increased to14 per cent.

AGRICULTURE

1. Rs. 25,000 crore for Rural Infrastructure Development Bank.
2. Rs. 5,300 crore to support Micro Irrigation Programme.
3. Farmers credit - target of 8.5 lakh crore.

INFRASTRUCTURE

1. Rs. 70,000 crores to Infrastructure sector.
2. Tax-free bonds for projects in rail road and irrigation
3. PPP model for infrastructure development to be revitalised and govt. to bear majority of the risk.
4. Atal Innovation Mission to be established to draw on expertise of entrepreneurs, and researchers to foster scientific innovations; allocation of Rs. 150 crore.
5. Govt. proposes to set up 5 ultra mega power projects, each of 4000MW.

EDUCATION

1. AIIMS in Jammu and Kashmir, Punjab, Tamil Nadu, Himachal Pradesh, Bihar and Assam.
2. IIT in Karnataka; Indian School of Mines in Dhanbad to be upgraded to IIT.
3. PG institute of Horticulture in Amritsar.
4. Kerala to have University of Disability Studies
5. Centre of film production, animation and gaming to come up in Arunachal Pradesh.
6. IIM for Jammu and Kashmir and Andhra Pradesh.

DEFENCE

1. Allocation of Rs. 2,46,726 crore; an increase of 9.87 per cent over last year.
2. Focus on Make in India for quick manufacturing of Defence equipment.

WELFARE SCHEMES

1. 50,000 toilets constructed under Swachh Bharath Abhiyan.
2. Two other programmes to be introduced- GST & JAM Trinity. GST will be implemented by April 2016.
3. MUDRA bank will refinance micro finance orgs. to encourage first generation SC/ST entrepreneurs.
4. Housing for all by 2020.
5. Upgradation 80,000 secondary schools.
6. DBT will be further be expanded from 1 crore to 10.3 crore.
7. For the Atal Pension Yojna, govt. will contribute 50% of the premium limited to Rs. 1000 a year.
8. New scheme for physical aids and assisted living devices for people aged over 80 .
9. Govt to use Rs. 9000 crore unclaimed funds in PPF/EPF for Senior Citizens Fund.
10. Rs. 5,000 crore additional allocation for MGNREGA.
11. Govt. to create universal social security system for all Indians.

RENEWABLE ENERGY

1. Rs. 75 crore for electric cars production.
2. Renewable energy target for 2022: 100K MW in solar; 60K MW in wind; 10K MW in biomass and 5K MW in small hydro

TOURISM

1. Develpoment schemes for churches and convents in old Goa; Hampi, Elephanta caves, Forests of Rajasthan, Leh palace, Varanasi , Jallianwala Bagh, Qutb Shahi tombs at Hyderabad to be under the new toursim scheme.
2. Visa on Arrival for 150 countries.

GOLD

1. Sovereign Gold Bond, as an alternative to purchasing metal gold.
2. New scheme for depositors of gold to earn interest and jewellers to obtain loans on their metal accounts.
3. To develop an Indian gold voin, which will carry the Ashok Chakra on its face, to reduce the demand for foreign coins and recycle the gold available in the country.