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Sunday, 15 November 2015
Everything you need to know about Three gold monetization Schemes
India is the world's largest buyer of gold with estimated holdings of 20,000 tonnes, worth over Rs 55 lakh crore.
The three schemes launched by PM Narendra Modi on Thursday, and described as "sone pe suhaga", are meant to recycle a part of the huge pile of unused gold and reduce import of coins and bars.
A part of the gold collected through the monetisation scheme will be lent or sold to MMTC and RBI for minting of coins and auction.
Fine Points
Premature withdrawal: Allowed after minimum lock-in period with penalty
Investment limit: Min 30 gram of jewellery, bars, coins. No maximum limit
Where to begin
1. Go to BIS-certified Collection and Purity Testing Centres
2. Comply with KYC (know-your-customer) norms and regulations
3. Bank will issue deposit certificate equivalent to 995 fineness of gold
Features
Tenure: Eight years
Premature exit: Allowed from fifth year
Interest rate: 2.75% a year, payable semiannually on the initial value of investment for the bonds issued in 2015-16
Investment limit: Minimum of 2 units (equal to 2 gram) and max of 500 gram in a financial year.
Where to buy: Banks and designated post offices
How Sovereign Gold Bond Works
Premature exit: Allowed from fifth year
Interest rate: 2.75% a year, payable semiannually on the initial value of investment for the bonds issued in 2015-16
Investment limit: Minimum of 2 units (equal to 2 gram) and max of 500 gram in a financial year.
Where to buy: Banks and designated post offices
How Sovereign Gold Bond Works
1. Price linked to previous week's (Monday-Friday) simple average of closing price of gold of 999 purity published by the India Bullion and Jewellers Association Ltd. Redemption price to be based on same formula
2. Comply with KYC norms — Voter ID, Aadhaar Card, PAN, TAN , Passport
3. Payment through electronic transfer, cash payment, by cheque or demand draft
4. Investors to get stock/holding certificate. Bonds can also be kept in demat form
5. They can be used as collateral for loans
Distributor's Commission
India Gold Coins
Purity: 24 karat, 999 fineness
Where to buy: Initially available at designated and recognised
MMTC outlets. Will be sold through banks and post offices later
Draft Gold Monetization Scheme Download
Friday, 30 October 2015
SHRAMEV JAYATE KARYAKRAM
a Shram Suvidha portal, Labour Inspection scheme and Portability through Universal Account Number (UAN) for Employees Provident Fund (EPF)
A dedicated Shram Suvidha Portal: That would allot Labour Identification Number (LIN) to nearly 6 lakhs units and allow them to file online compliance for 16 out of 44 labour laws
·An all-new Random Inspection Scheme: Utilizing technology to eliminate human discretion in selection of units for Inspection, and uploading of Inspection Reports within 72 hours of inspection mandatory
· Universal Account Number: Enables 4.17 crore employees to have their Provident Fund account portable, hassle-free and universally accessible
·Apprentice Protsahan Yojana: Will support manufacturing units mainly and other establishments by reimbursing 50% of the stipend paid to apprentices during first two years of their training
· Revamped Rashtriya Swasthya Bima Yojana: Introducing a Smart Card for the workers in the unorganized sector seeded with details of two more social security schemes
Bills Passed in 2015
Recent Acts and Amendments
Thursday, 29 October 2015
SANSAD ADARSH GRAM YOJANA SAGY -SAANJHI
Sansad Adarsh Gram Yojana was initiated to bring the member of parliament of all the political parties under the same umbrella while taking the responsibility of developing physical and institutional infrastructure in villages and turn them into model villages.Under this scheme, each member of parliament needs to choose one village each from the constituency that they represent, fix parameters and make it a model village by 2016. Thereafter, they can take on two or three more villages and do the same by the time the next general elections come along in 2019, and thereafter, set themselves ten-year-long village or rural improvement projects.Villages will be offered smart schools, universal access to basic health facilities and Pucca housing to homeless villagers.
Sansad Adarsh Gram Yojana (SAGY) is a village development project launched by Government of India in October 2014, under which each Member of Parliament will take the responsibility of developing physical and institutional infrastructure in three villages by 2019. The goal is to develop three Adarsh Grams or model villages by March 2019, of which one would be achieved by 2016. Thereafter, five such Adarsh Grams (one per year) will be selected and developed by 2024. (Sansad refers to Parliament, Adarsh refers to model, Gram refers to village and Yojna means Scheme)
The Project was launched on the occasion of birth anniversary of Lok Nayak Jai Prakash Narayan and is inspired by the principles and values of Mahatma Gandhi. It aims to provide rural India with quality access to basic amenities and opportunities.
The Scheme has a holistic approach towards development. It envisages integrated development of the selected village across multiple areas such as agriculture, health, education, sanitation, environment, livelihoods etc. Far beyond mere infrastructure development, SAGY aims at instilling and nurturing values of national pride, patriotism, community spirit, self-confidence people’s participation, dignity of women, etc. in the people.
The scheme is implemented through Members of Parliament (MPs) with District Collector being the nodal officer. The MP would be free to identify a suitable gram panchayat for being developed as Adarsh Gram, other than his/her own village or that of his/her spouse. Gram Panchayat, which has a population of 3000-5000 in plain areas and 1000-3000 in hilly, tribal and difficult areas, would be the basic unit for development.
A village development plan would be prepared for every identified gram panchayat with special focus on enabling every poor household to come out of poverty. The constituency fund, MPLADS, would be available to fill critical financing gaps. The outcomes include 100% immunization, 100% institutional delivery, reduced infant mortality rate, maternal mortality rate, reduction in malnutrition among children etc.
If each MP adopts three villages, the scheme will be able to develop 2,379 gram panchayats over the next five years. (The Lok Sabha has 543 MPs and the Rajya Sabha 250, of which 12 are nominated. There are 2,65,000 gram panchayats in India. )
Deen Dayal Upadhyay Centres for Knowledge Acquisition and Upgradation of Skilled Human Abilities and Livelihood ( DDU-KAUSHAL)
The main objectives of these centers are to:
a) create skilled manpower for industry requirements at various levels. The scheme
provides for vertical mobility from short term certificate courses to full-fledged post
graduate degree programme, and further research in specialized areas. The courses
would be planned/ designed to have provision of multiple entry and exit at various
levels culminating up-to a research degree level. These shall also include courses
which are offered under the Community College Scheme and B.Voc. degree
programme of UGC.
b) Formulate courses at postgraduate level keeping in mind the need of i) Industry in
specialized areas; ii) Instructional design, curriculum design and contents in the
areas of Skills Development; iii) Pedagogy, assessment for skills development
education and training; iv) trained faculty in the areas of skill development; and v)
Entrepreneurship; etc.
c) work for coordination between the higher education system and industry to become
a Centre of Excellence for skill development in specialized areas.
d) network with other such centers and universities and colleges imparting vocational
education under the scheme of Community Colleges and B.Voc degree programme
in their region and coordinate with them for targeted development of skill oriented
education.
e) undertake R&D in the areas related to skill education & development,
entrepreneurship, employability, labour market trends etc. at the post-graduate and
research level.
f) act as finishing school by providing supplementary modular training programmes so
that a learner, irrespective of his/her training background, is made job ready with
necessary work skills (soft, communication, ICT skills etc) and fill the gaps in the
domain skills measured against QPs/NOSs.
Page 3 of 8
g) provide for Recognition of Prior Learning (RPL) framework for job roles at NSQF
Level 4 onwards by conducting assessment and certification with respective Sector
Skill Councils (SSCs) / Directorate General of Employmentand Training (DGET).
h) Maintain ‘Labour Market Information’ for respective regions in coordination with
other government agencies and industry associations.
i) develop and aggregate curriculum, content and learning materials for skills
development in different sectors.
Pradhan Mantri Gram Sadak Yojana
The Pradhan Mantri Gram Sadak Yojana or PMGSY is a nationwide plan in India to provide good all-weather road connectivity to unconnected villages
The goal was to provide roads to all villages
with a population of 1000 persons and above by 2003
with a population of 500 persons and above by 2007
in hill states, tribal and desert area villages with a population of 500 persons and above by 2003
in hill states, tribal and desert area villages with a population of 250 persons and above by 2007
In order to implement this, an Online Management & Monitoring System or OMMS GIS system was developed to identify targets and monitor progress.[7] It is developed by e-governance department of C-DAC pune and is one of the biggest databases in India. The system manages and monitors all the phases of road development right from its proposal mode to road completion. The OMMS also has separate module to track the expenses made on each road. Based on the data entered by state and district officers, OMMS generates detailed reports which are viewable in citizens section (omms.nic.in). OMMS incorporates advanced features like E-payment, Password protected PDF files, Interactive Reports etc.
It is under the authority of the Ministry of Rural Development and was begun on 25 December 2000. It is fully funded by the central government
The goal was to provide roads to all villages
with a population of 1000 persons and above by 2003
with a population of 500 persons and above by 2007
in hill states, tribal and desert area villages with a population of 500 persons and above by 2003
in hill states, tribal and desert area villages with a population of 250 persons and above by 2007
In order to implement this, an Online Management & Monitoring System or OMMS GIS system was developed to identify targets and monitor progress.[7] It is developed by e-governance department of C-DAC pune and is one of the biggest databases in India. The system manages and monitors all the phases of road development right from its proposal mode to road completion. The OMMS also has separate module to track the expenses made on each road. Based on the data entered by state and district officers, OMMS generates detailed reports which are viewable in citizens section (omms.nic.in). OMMS incorporates advanced features like E-payment, Password protected PDF files, Interactive Reports etc.
It is under the authority of the Ministry of Rural Development and was begun on 25 December 2000. It is fully funded by the central government
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