Govt hikes gratuity limit to Rs 30 lakh; announces Mega Pension Scheme
New Delhi, Feb 1 : The Government Friday decided to hike the gratuity limit from Rs 10 lakh to Rs 30 lakh and also announced a Mega Pension Yojana under which Rs 3,000 per month will given to unorganised sector employees.
Presenting the interim budget for 2019-20, Finance Minister Piyush Goyal said the Mega Pension Yojana -- 'Pradhan Mantri Shram Yogi Mandhan (PMSYM)' -- will benefit 10 crore workers in the unorganised sector.
"It may become the world's biggest pension scheme for unorganised sector in five years," Goyal said.
He said 50 per cent of the country's Gross Domestic Produce (GDP) comes from "sweat and toil of 42 crore workers in the unorganised sector."
The Finance Minister also announced increase of gratuity limit from Rs 10 lakh to Rs 30 lakh from the next fiscal.
Under the PMSYM, Goyal said a monthly pension of Rs 3,000 per month will be assured for workers in the unorganised sector after 60 years of age. The pensioners will have to contribute Rs 100 per month.
High growth and formalisation of economy has resulted in increased Employees' Provident Fund Organisation (EPFO) membership by 2 crore in last two years, he added.
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NIA raids multiple locations in J&K in Red Fort blast case
New Delhi/Srinagar (PTI): The National Investigation Agency on Monday conducted searches at various locations in Jammu and Kashmir in connection with its probe into the Red Fort car bomb blast case, officials said.
“The searches are being conducted at nine places in various locations of J-K,” an NIA spokesperson said.
The locations included the Handwara area of Kupwara district, Rafiabad in Baramullah district, and places in Kulgam and Srinagar districts, among others, the officials said.
At least 13 people were killed, and several others were injured in the blast near the Red Fort that shook the national capital on November 10 last year.
The blast was triggered by suicide bomber Umar Un Nabi, a medical doctor and assistant professor at Al Falah University in Faridabad, Haryana, who blew up an explosive-laden car he was driving outside the iconic monument.
The NIA has so far arrested 11 accused in the case.
