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Prime Minister Narendra Modi to launch 3 social security schemes linked to insurance and pension sector

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By NewsGram Staff Writer

The Prime Minister Narendra Modi will launch three ambitious social security schemes pertaining to the insurance and pension sector on 9th May 2015 at Kolkata.

The two insurance schemes to be launched, namely Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) would provide insurance cover, whereas the pension scheme, Atal Pension Yojana (APY), would address old age income security needs.

PMSBY will offer a renewable one year accidental death cum disability cover of Rs 2  lakh (Rs 1 lakh for partial permanent disability) to all savings bank account holders in the age group of 18 to 70 years for a premium of Rs. 12/- per annum per subscriber. The scheme would be administered through Public Sector General Insurance Companies (PSGICs) or other General Insurance companies.

PMJJBY on the other hand will offer a renewable one year life cover of Rupees 2 lakh to all savings bank account holders in the age group of 18 to 50 years, covering death due to any reason, for a premium of Rs.330/- per annum per subscriber. The scheme would be offered  through LIC or other Life Insurance companies willing to offer the product on similar terms.

APY, the third scheme to be launched, will focus on the unorganised sector and provide subscribers a fixed minimum pension of Rs. 1000, 2000, 3000, 4000 or Rs. 5000 per month starting at the age of 60 years, depending on the contribution option exercised on entering at an age between 18 and 40 years. Thus, the period of contribution by any subscriber under APY would be 20 years or more. The fixed minimum pension would be guaranteed by the government.

While the scheme is open to back account bank account holders in the prescribed age group, the Central Government would also co-contribute 50% of the total contribution or Rs. 1000 per annum, whichever is lower, for a period of 5 years for those joining the scheme before 31st December, 2015 and are not members of any statutory social security scheme and are not income tax payers.

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GES 2017 : Ivanka Trump in Hyderabad charms the women centric Global Entrepreneurship Summit co-hosted by India and United States

Being invited by Prime Minister Modi, Ivanka Trump is in Hyderabad for GES 2017. The event is focused on women entrepreneurs from all across the globe, this is the first time GES is being held in South Asian country

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Ivanka Trump visited India for GES 2017
Ivanka Trump in Hyderabad (VOA)
  • Praising Prime Minister Narendra Modi at GES 2017, Ivanka Trump said,”from your childhood selling tea to becoming PM, you’ve proven that transformational change is possible.”

  • Prime Minister Modi emphasising on bilateral relations said,”the GES 2017 event not only connects the Silicon Valley with Hyderabad but also showcases the close ties between the US and India.”

Ivanka Trump, daughter and adviser to US President Donald Trump arrived Hyderabad to attend Global Entrepreneurship Summit, GES 2017 co-hosted by India and the United States. The three-day summit, from November 28-30, is being held at the Hyderabad International Convention Centre (HICC) and Hyderabad International Trade Expositions (Hitex).

Ivanka Trump in Hyderabad
Ivanka Trump, daughter of U.S. President Donald Trump, speaks during the Global Entrepreneurship Summit (VOA)

Ms Ivanka Trump is leading a delegation of senior White House officials and American entrepreneurs. The theme of this year’s summit is ‘Women First, Prosperity for All’ and will include 1,200 young entrepreneurs from different parts of the world, mostly women.

“I encourage everyone here to come together, learn from each other and find new ways to lift barriers in our society so that women are free to innovate, empowered to succeed and able to leave our children a brighter future,” Ivanka Trump told delegates in the event’s opening speech Tuesday.

Ivanka’s appearance with Modi at the opening of GES 2017 was preceded by a bilateral meeting which the Prime Minister Modi described as “wonderful”, before they went out to meet entrepreneurs who showcased their work for presentation. Being women centric event, two of the India’s most powerful women External affairs minister Sushma Swaraj and Defense minister Nirmala Sitharaman were also present.

GES 2017 : Ivanka Trump in India
Ivanka Trump with Prime Minister Modi (Narendra Modi Twitter)

The summit began with cultural events showcasing India’s rich culture. This year’s summit theme clearly demonstrated the commitment of the India and United states to the principle that when women are economically empowered, their communities and countries thrive. India is one of the country where women are at highest pedestals in social and professional life.

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Ivanka also gave credit to the Modi government for lifting 130 million people out of poverty. “Women still face steep obstacles in starting, owning and growing their businesses. We must ensure women entrepreneurs have access to capital, access to networks and mentors,” Ivanka said to loud cheers from a packed enthusiastic audience.

Ivanka’s visit also affirms that the Trump administration sees India as a major strategic partner in south asia and wants to engage with India more. Growing trade and business between India and United States sends a strong signal to the world.

by SHAURYA RITWIK, Shaurya is Sub-Editor at NewsGram and writes on Geo-politcs, Culture, Indology and Business. Twitter Handle – @shauryaritwik

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Important Tips to Follow if you wish to Expand Business Overseas

Want to spread your business overseas? Here is all you need to do for Spreading your business internationally.

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Tips to expand business overseas
Tips to expand business overseas. Flickr

One of the first things people notice when they branch out into doing business internationally is how big a role social norms play in business dealings. It’s the same in North America, but the contrast is much more jarring when dealing with a new country, new etiquette, and new expectations. Whether you are applying for financing from a lender or opening a new branch of your business overseas, it’s important to understand that how you conduct yourself can have a profound impact on the success (or failure) of your business. Here are a few general guidelines to help you conduct business in a variety of regions around the world.

In Asian boardrooms, meeting participants will typically be arranged by seniority. This is also the order in which they should be greeted, and the order in which you should pass out your business cards. This is a sign of respect. Speaking of business cards, be prepared to hand out many more in Asia than you would in North America. There is a ceremony around exchanging business cards in countries such as Japan. Be sure to invest in a business card case, as it is seen as rude and inappropriate to keep them in your wallet or pocket.

In some Middle Eastern countries, note that it is quite normal for a male client or colleague to grasp another man’s hand while walking together. Although this may seem unusual to North American sensibilities, it’s considered a sign of trust in some parts of the world.

It’s also a good idea to bear in mind that questions that may be perceived in North America as being simple small talk may actually consider quite rude and intrusive in some countries, such as questions about marital status, children, age, etc. In professional situations, it’s always best to err on the side of being too impersonal rather than to risk being considered nosey.

Gift-giving in a business setting is complicated in some cultures. In some cases, for example, it is considered improper to open a gift in front of the giver, so be aware of that if you are presented with a gift.

Manners are a very big point of difference among different cultures. For example, it is perfectly acceptable and actually expected, that diners will eat a sandwich with a knife and fork. Similarly, belching and slurping one’s food is considered rude in some cultures, but quite acceptable in others. It is considered socially unacceptable in countries such as Japan to be seen blowing one’s nose in public.

When it comes to professional attire, you can never go wrong erring on the side of conservative, no matter where you are in the world. Women should take special care to dress more modestly, as it can be a serious culture misstep to dress too revealingly.

When you do business with other countries, it’s important to know the business and legal issues that may arise, but never forget that business is, as the heart of things, a people-first endeavor. The more you can be aware of and respectful of the social expectations, manners, and etiquette in the region in which you are doing business, the more professional you will be perceived. And that can go a long way toward helping you to solidify meaningful business connections around the world. If you aren’t sure how to act or what to do, always educate yourself before you arrive. Not only do you not want to look foolish, you also don’t want to be insulting. There are lots of resources online and in books to help you navigate these challenging waters.

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Northeast is Fast Emerging as the new Start-up Destination, Says Minister Jitendra Singh

Due to improvement in connectivity and transport facility in the last two years, coupled with concentrated administrative focus, more and more youngsters are now heading towards the northeastern states to venture into entrepreneurship

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Union Minister of State for Development of the North Eastern Region Jitendra Singh. Wikimedia

New Delhi, October 16, 2017 : Union Minister of State for Development of the North Eastern Region (DoNER) Jitendra Singh claimed that the area was fast emerging as the new start-up destination for youngsters from all over India, an official statement on Monday.

Due to improvement in connectivity and transport facility in the last two years, coupled with concentrated administrative focus, more and more youngsters are now heading towards the northeastern states to venture into entrepreneurship and take advantage of its unexplored potential, he said, according to a DoNER Ministry statement.

Citing an example, he said in certain areas of Northeast, including states like Arunachal Pradesh, “while almost 40 per cent of the fruit goes waste on account of lack of adequate storage and transport facilities, the same can be used to produce and manufacture fresh and pure fruit juice at a much more cost-effective price”.

ALSO READ Over 4,000 km of roads, highways to be constructed in northeast

During an interaction with youngsters, Jitendra Singh also pointed out that many new airports coming up at Pakyong (Sikkim), Itanagar and Shillong, which along with a time-bound plan to lay broad-gauge rail track, would bring in further ease of doing business.

“Another sector of entrepreneurship which is fast emerging in Northeast is the medical and healthcare sector.

“For years, there has been a trend for patients to shift outside the region, mostly to Kolkata or Vellore, but the encouragement given to the private corporate sector has now resulted in the opening of new hospitals within the region itself and young entrepreneurs are taking the lead,” he said. (IANS)