INTERACT WITH NITI AAYOG ON THE UNION BUDGET, 2016: #AskNITI
The premier think-tank of the Government of India, NITI Aayog (National Institution for Tranforming India) provides crucial directional and policy support to the Centre as well as State governments. On the release of the Union Budget 2016, NITI is pleased to announce that we will interact directly with the citizens of the country.
On March 3rd at 3 pm, the CEO of NITI Aayog, top bureaucrat, Mr. Amitabh Kant will talk about what the Budget spells for key policies formulated by the Government of India. Reflecting on the government’s focus sectors and schemes, the CEO will explain the direct bearing budget will have on employment generation, investments and economic growth in the country.
Steering an institution that infuses new policy ideas to enable the Government to act in the best interests of public, Mr. Kant will also detail NITI Aayog’s role in translating schemes and policies, as enunciated in the Budget, into action on ground.
Besides providing an exclusive, expert perspective on the Union Budget, Amitabh Kant will also take questions directly from the viewers. Questions may be asked in advance, and through the duration of the talks on both days, via NITI Aayog’s Twitter and Facebook page. The talks can also be accessed on the NITI Aayog website, www.niti.gov.in.
IDBI is yongest public sector bank.The move to privatize 50yr old DFI and young bank is distrustful for customers and staff.The so called transformation is marketed by govt as escape plan from high NPA. Instead of facing the challenges & make strong PSBs. Govt is keen to sell stake in PSBs to 52% & below 49% in IDBI. It can be a short term fiscal target to achieve for govt. in terms of revenue & cost of recapitalisation. But in long term it is the failure to make a stronger economy.
Sir, IDBI Bank has one of the best workforce in public sector banks. All employees give their best bcoz they felt secured for working in a govt owned bank. Kindly request you not to reduce Govt share below 51%. We, all employees, want to work in IDBI as govt servant.
DBI bank is the youngest public sector bank has excellent repo amongst the customers and has highest per employee business, Thousands of person resigned from other institute & joined IDBI because its a Govt bank, unfortunately govt is privatized the bank & spoiling the future of thousand of Employee. We IDBIans strongly oppose the Privatization of Bank.
2 (a) Compulsory contributions to me made by employee to the EPF
2 (b) Voluntary contributions made by the employee to the EPF.
The parts 2(a) and 2(b) are maintained as a single account. (ER).
This employee contributions to EPF is from income that has already been assessed for income tax in the year of contribution. The proposals of taxing accumulated contributions therefore lead to double taxation of the sane income, which is grossly unjust and regressive.
EPF is the safest and operationally the most efficient alternative of long term savings for the salaried taxpayer. There are four components of the EPF
1. (a) Contributions made by the employer to the EPF
1. (b) Contributions made by the employer to the EPS
These contributions are exempt from tax at the time of contribution. The accounts for these are maintained separately for the entire tenure of employment up to retirement, (EE and EPS).
There is widespread angst among the individual salaried taxpayers after the proposal to tax accumulations of the EPF have been announced While the number of electorate may be small, an overwhelming majority of them are supporters of fhe BJP and are feeling cheated, to say the least.
There is widespread angst among the individual salaried taxpayers after the proposal to tax accumulations of the EPF have been announced While the number of electorate may be small, an overwhelming majority of them are supporters of fhe BJP and are feeling cheated, to say the least.
Govt should never…. never… never say we are taxing your corpus at withdrawl. I am surprised how can Jayant Sinha make such a blunder in communication. If you break a 5 year old FD, the clause is that you will get 1% less interest. So, for a 8% FD, 7% interest means, effectively ⅛ = ~12% “tax on interest component at premature withdrawl”. But people do break their FDs without complaining!!!!
EPF TAx: Give flexibility in withdrawls from NPS. I am disappointed with current NPS because of its low flexibility. PPF is still better in terms of withdrawl as it allows you to withdraw 50% of balance which was 3 years back. Give 4-5 options like annuity, maximum 10% or 20% of corpus withdrawl each year (partial withdrawl), clubbing with insurance to increase its appeal etc. You give flexibility and people will stay invested.
EPFTAX: Advise private sector companies and employees to invest any additional contribution above 15,000/- in a permanent NPS account, which has various categories to invest (low market risk to high market risk), let smart people choose how much risk they want their money to take (as presently is the case). This also gives a private sector employee or unorganized sector employee a permanent place to park his long term money, which is helpful when he switches jobs, goes for studies or job-breaks.