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The 2024 Interim-Union Budget of India [1] provides comprehensive information regarding the projected revenue and government spending for the fiscal year 2024–25, commencing on 1 April 2024 and concluding on 31st March 2025. [2] [3] [4]
The President Of India has a net salary of ₹400,000 (US$6,000) per month, followed by the Vice President with ₹350,000 (US$4,800), and the Prime Minister at ₹280,000 (US$3,400). Governors receive ₹300,000 (US$4,200). The Chief Justice of India earns ₹280,000 (US$3,400) while Supreme Court judges receive ₹250,000 (US$3,000). Members ...
As for as PBOR are concerned, upper retirement age was 50 years for Army and 55 years for other two services. For officers and PBOR, AFPRC used the formula of 1/60 to work out pensions rank wise. Maximum pension was capped at 30 years of service. A person retiring with 30 years or more of service got a pension 30/60 (50%) of the rank emoluments.
By March 2024, 56,20,000 units had been delivered to beneficiaries. [71] Atal Pension Yojana (Atal Pension Scheme) CS MoF: 2015: Pension: Original form in 2010 as the Swavalamban Yojana. [72] A pension program that allows people to make voluntary contributions within a certain range with a matching government contribution to receive pension in ...
Prisons, and their administration, is a state subject covered by item 4 under the State List in the Seventh Schedule of the Constitution of India.The management and administration of prisons falls exclusively in the domain of the State governments, and is governed by the Prisons Act, 1894 and the Prison manuals of the respective state governments.
Since pension is both a reward for continuous service till the formal age of retirement as well as a form social security in old age, India favored a restructured pension ensuring a balance between retirement benefit of the government employees and the financial burden on the economy by moving from DB scheme to DC scheme.
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In the unified pension system, a civil servant contributes 10% of their salary while the government contributes 18% each month on their behalf. After retirement, the civil servant receives 50% of their basic pay of the average of the last 12 months preceding retirement. The pension is indexed to inflation and increases every years. [14]