Economy News ( English version)

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  • Aggregators to be charged interest at 12% per annum if they fail to contribute toward social security of their gig workers May 9, 2026
    Aggregators now face a 12% annual interest penalty for delayed social security contributions for gig workers. All aggregators must upload gig worker details to a central portal within 45 days. New appointments and exits require real-time or daily registration. These rules ensure gig workers receive social security benefits.
  • Finance ministry links government procurement with labour law compliance May 9, 2026
    An office memorandum dated May 8, 2026, issued by the procurement policy division of the department of expenditure to all central ministries, departments, autonomous bodies and CPSES aims to operationalises worker protections envisaged under the four Labour Codes while introducing stricter penalties, including debarment and blacklisting, for firms violating […]
  • PMJJBY, PMSBY settle claims worth Rs 25,160 cr since their launch in 2015 May 9, 2026
    Jansuraksha schemes have settled claims worth over Rs 25,160 crore. Pradhan Mantri Jeevan Jyoti Bima Yojana settled more than Rs 21,500 crore. Pradhan Mantri Suraksha Bima Yojana settled nearly Rs 3,660 crore. These schemes provide affordable financial protection. Over 27 crore, 58 crore, and 9 crore enrollments are recorded under PMJJBY, PMSBY, and APY resp […]
  • RBI officers seek governor's intervention to correct promotion policy May 9, 2026
    RBI officers are protesting recent changes to the promotion policy. The Reserve Bank of India Officers' Association has written to the Governor seeking intervention. The new policy links promotions to vacancy availability, replacing the earlier time-bound system. This has caused widespread dissatisfaction and demoralization among officers. The associati […]
  • Labour reforms: Govt fully operationalises four new codes by publishing rules May 9, 2026
    India's central government has fully implemented four new labour codes. These codes, effective November 21, 2025, consolidate 29 laws. They aim to provide minimum wage and universal social security for all workers. The new framework enhances worker protection and eases business operations. Key provisions include mandatory appointment letters and a Natio […]

 

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