Modernisation of the Armed Forces is a continuous process based on threat perception, operational challenges and technological changes to keep the Armed Forces in a state of readiness to meet the entire spectrum of security challenges. Government attaches the highest priority to ensure that the Armed Forces are sufficiently equipped to meet any operational requirement.

This is achieved through induction of new equipment and technological upgradation of capabilities. The equipment requirements of the Armed Forces are planned and progressed through a detailed process which includes 15 Year Long Term Integrated Perspective Plan (LTIPP), a five year Service-wise Capability Acquisition Plan, a two year roll-on Annual Acquisition Plan and deliberations by the Defence Acquisition Council chaired by the Raksha Mantri.

During the last three years and in the current year (upto October, 2018), 188 contracts have been signed for capital procurement of defence equipment for Armed Forces such as Radars, Aircraft, Rockets, Artillery Guns, Helicopters, Missiles, Ballistic Helmets, Bullet Proof Jackets, Weapons, Simulators, Electronic Fuzes and Ammunition. Budget Allocation and Expenditure under Capital Budget Head are given below:-
(Rs. in crore)

Allocated budget is optimally utilized to avoid gap between the need and the availability of funds.

This information was given by Raksha Rajya Mantri Dr. Subhash Bhamre in a written reply to Shri Kapil Moreshwar Patil in Lok Sabha today.

Source: PIBSimilar Posts:

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• High-Level Committee to review the Defence Procurement Procedure 2016 and Defence Procurement Manual 2009
• Raksha Mantri Issues Orders on Matter of Equivalence with Respect to Armed Forces and AFHQ CS Officers

 Interest rate for General Provident Fund has been increased to 8% from October 2018

[GPF Interest Rate Chart from 1960 – View Detailed Report]

Resolution – accumulations at the credit of subscribers to the GPF and other similar funds w.e.f. 1st October, 2018 to 31st December 2018.

(PUBLISHED IN PART I SECTION I OF GAZETTE OF INDIA)

F.No.5(1)-B(PD)/2018
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

New Delhi, the 04 October, 2018

RESOLUTION

It is announced for general information that during the year 2018-2019, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 8% (Eight percent) w.e.f. 1st October 2018 to 31st December 2018. This rate will be in force w.e.f.1st October 2018. The funds concerned are:

1. The General Provident Fund (Central Services).
2. The Contributory Provident Fund (India).
3. The All India Services Provident Fund.
4. The State Railway Provident Fund.
5. The General Provident Fund (Defence Services).
6.The Indian Ordnance Department Provident Fund.
7. The Indian Ordnance Factories Workmen’s Provident Fund.
8. The Indian Naval Dockyard Workmen’s Provident Fund.
9. The Defence Services Officers Provident Fund.
10. The Armed Forces Personnel Provident Fund.

2. Ordered that the Resolution be published in Gazette of India.

sd/-
(Anjana Vashishha)
Deputy Secretary (Budget)

Click to view order Engligh / Hindi

Source: https://dea.gov.in

Similar Posts:

• Interest Rate for General Provident Fund – Finmin Orders
• Interest Rate of General Provident Fund w.e.f. 1.1.2017 – Finmin Orders
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• GPF Interest 8% from 1.1.2019 to 31.3.2019

General Provident Fund and other similar funds shall carry interest at the rate of 7.6% (Seven point six percent) w.e.f 1st July, 2018 to 30th September, 2018

(PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA)

F.NO.5(1)-B(PD)/2018
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

New Delhi, the 17th July, 2018

RESOLUTION

It is announced for general information that during the year 2018-2019, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.6% (Seven point six percent) w.e.f 1st July, 2018 to 30th September, 2018 . This rate will be in force w.e.f. 1st July, 2018. The funds concerned are :

1. The General Provident Fund (Central Services).
2. The Contributory Provident Fund (India).
3. The All India Services Provident Fund.
4. The State Railway Provident Fund.
5. The General Provident Fund (Defence Services).
6. The Indian Ordnance Department Provident Fund.
7. The Indian Ordnance Factories Workmen’s Provident Fund.
8. The Indian Naval Dockyard Workmen’s Provident Fund.
9. The Defence Services Officers Provident Fund.
10. The Armed Forces Personnel Provident Fund.

2. Ordered that the Resolution be published in Gazette of India.

sd/-
(Anjana Vashishtha)
Deputy Secretary (Budget)

View order

Authority: https://dea.gov.in

Similar Posts:

• General Provident Fund Interest rate for July to Sept 2017
• GPF Interest Rate – Resolution issued by Ministry of Finance
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• General Provident Fund Interest Rate for 1st April to 30th June 2017 – Finmin Orders

“Modification in Partial Withdrawal rules under NPS & Increasing cap on equity investment in active choice to 75% from current 50% for Private Sector Subscribers”

Ministry of Finance
Important Announcements and Approvals in Board Meeting of PFRDA

Pension Fund Regulatory and Development Authority (PFRDA) is established by the Government of India for regulation and development of Pension Sector in order to protect the old age income security of subscribers. PFRDA takes various initiatives from time to time in order to simplify and improve the operational issues in National Pension System (NPS) like new functionality development under NPS architecture, simplification of account opening, withdrawal, grievance management etc.

In this regard, during the recently held Board Meeting some important decisions were taken to improve the operational and regulation issues in National Pension System (NPS). Some of the decisions taken in the Board Meeting are as follows:

• Budget announcement- Rating criteria for investments– Proposal on changing the investment grade rating from ‘AA’ to ‘A’ for corporate bonds was approved. The change is subject to a cap on investments in ‘A’ rated bonds to be not more than 10% of the overall Corporate Bond portfolio of the Pension Funds. This initiative will enlarge the scope of investment for the Fund Managers while ensuring credit quality.
• Introduction of a Common Stewardship Code: The proposal on adoption of Common Stewardship Code, as a measure of good Corporate Governance, was approved. Further, it was also approved that the Principles enumerated in such code shall be circulated to all Pension Funds for compliance and implementation. Adoption of these Principles by Pension Funds will improve their engagement with investee companies and benefit subscribers.
• Modification in Partial Withdrawal rules under NPS: Partial withdrawals will now be allowed to NPS subscribers who wish to improve their employability or acquire new skills by pursuing higher education/ acquiring professional and technical qualifications. Further, individual NPS subscribers who wish to set up a new business/ acquire new business will also be allowed to make partial withdrawals from his contributions. Other terms applicable to partial withdrawals will remain unchanged.
• Increasing cap on equity investment in active choice to 75% from current 50% for Private Sector Subscribers: Presently there is a cap of 50% on equity investment under active choice in NPS. The proposal on increasing cap on equity investment in active choice to 75% from currently 50% has been approved by the Board. However, it comes with a clause of tapering of the equity allocation after the age of 50 years.
  Currently, NPS and APY have a cumulative subscriber base of over 2.13 crore with total Asset Under Management (AUM) of more than Rs. 2.38 lakh crore.

Source: PIB

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• New Pension Scheme : Clarification of Deferred withdrawal of lump sum – PFRDA

Resolution – accumulations at the credit of subscribers to the GPF and other similar funds w.e.f. 1st April, 2018 to 30th June 2018

(PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA)
F.NO. 5(1)-B(PD)/2018
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

New Delhi, the 11th April, 2018

RESOLUTION

It is announced for general information that during the year 2018-2019, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.6% (Seven point six per cent) w.e.f. 1st April, 2018 to 30th June, 2018.

This rate will be in force w.e.f.1st April, 2018. The funds concerned are:—

1. The General Provident Fund (Central Services).
2. The Contributory Provident Fund (India).
3. The All India Services Provident Fund.
4. The State Railway Provident Fund.
5. The General Provident Fund (Defence Services).
6. The Indian Ordnance Department Provident Fund.
7. The Indian Ordnance Factories Workmen’s Provident Fund.
8. The Indian Naval Dockyard Workmen’s Provident Fund.
9. The Defence Services Officers Provident Fund.
10. The Armed Forces Personnel Provident Fund.

2. Ordered that the Resolution be published in Gazette of India.

(Anjana Vashishtha)
Deputy Secretary (Budget)

To view the official Resolution issued for announcing GPF Interest Rate from April to June 2018 , click the following link

View order

Authority: https://dea.gov.in/

Similar Posts:

• Interest Rate for General Provident Fund – Finmin Orders
• General Provident Fund Interest Rate for 1st April to 30th June 2017 – Finmin Orders
• Interest Rate of General Provident Fund w.e.f. 1.1.2017 – Finmin Orders
• GPF Interest Rate 8% from October 2018
• GPF Interest Rate from Jan 2018 to Mar 2018 – DEA Orders