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Weekly Digest 08 Nov 09

Contents:

Legal & Tax
  • EPFO proposes salary cap rise to Rs 10,000
Economy
  • PM pushes for reforms, says will exit stimulus
  • India would've grown at 7% had monsoon not played truant

EPFO proposes salary cap rise to Rs 10,000

The Employee Provident Fund Organisation (EPFO) has sent a proposal to the labour ministry to increase the salary limit for paying employee provident fund (EPF) to Rs 10,000 from the current Rs 6,500.

It has also proposed covering companies with a minimum of 10 employees under the Employee Provident Fund and Miscellaneous Provisions Act (EPF & MP Act), 1952, against the present norm of a minimum of 20 employees. CLICK HERE TO READ FURTHER

PM pushes for reforms, says will exit stimulus

Prime Minister Manmohan Singh, who as finance minister in the 90s initiated liberalisation, today said his government would steadily pursue reforms to feed economic growth, while withdrawing the fiscal stimulus by next year.

Growth is expected to be around 6.5 per cent (this fiscal). There are clearly signs of an upturn in the economy. With a normal monsoon next year, we hope to achieve a growth rate of over 7 per cent," he said addressing the inaugural of the India Economic Summit organised by WEF and CII here. CLICK FOR FURTHER READING.

India would've grown at 7% had monsoon not played truant

We have had a bunch of economic data, strong august Index of Industrial Production (IIP) numbers, moderate September infrastructure numbers and tepid corporate earnings. The Planning Commission is the body that processes this information for further policy action. In an interview with CNBC-TV18, Dr Saumitara Chaudhuri, Economist and Member of Planning Commission, sifts through India's macro-economic data and presents his outlook for growth. CLICK HERE for a verbatim transcript of Saumitra Chuadhuri’s exclusive interview on CNBC-TV18. Also watch the accompanying video.

This week, I could spend time in my reading news articles. So, less contents


Cheers,
Gopal

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