Economy

Public Financial Management System (PFMS)

What is PFMS? PFMS is an electronic fund tracking mechanism It compiles, collates and makes available in real-time, information regarding all government schemes. Besides, it will significantly provide government real-time information on resource availability and utilisation across schemes. In addition it allow government expenditure to adopt a Just-in- Time (JIT) approach, with payments made only …

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Gratuity

What is Gratuity? Gratuity is the monetary benefit provided by the employer to his/her employee for the services rendered by him during the period of employment. A minimum of five years of service with an organisation is mandatory for availing the benefit of gratuity. The Payment of Gratuity Act 1972 makes it mandatory for the employers to …

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White Label ATMs

Automated Teller Machines (ATMs) set up, owned and operated by non-bank entities are called White Label ATMs. These White Label ATMs provide banking services to the customers of banks on the basis of the cards (debit/credit/prepaid) issued by banks. The non-bank entities which set up, own and operate ATMs are called White Label ATM Operators. …

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National Productivity week

National Productivity week : National Productivity Council (NPC) is celebrating National Productivity week. This year, the theme is “Circular Economy for Productivity & Sustainability”. This theme will help NPC to meet its zero waste goal. The above theme is decided by looking into the different national objectives of sustainable growth and commitments with respect to different …

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National Gas Grid

The Union Government has envisaged the development of the National Gas Grid. The government is implementing various projects of about 14,239 Km gas pipelines which would add to the existing 16,788 Km natural gas pipeline. Objectives of the National Gas Grid The objectives of the National Gas Grid are: To remove regional imbalance within the country with …

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