The finance ministry is putting shape to a new social security scheme for unorganized sector workers, creating for the first time a safety net for millions of underpaid and overworked people, many of whom living in abject poverty.  The ministry has discussed with the Life Insurance Corporation (LIC) and the four state run non-life insurance companies the contours of this scheme that will provide life insurance, health cover and retirement pension...

-The Hindu   The government has finalised rules for the implementation of the country's new nuclear liability that aim to meet the concern of American nuclear suppliers wary of being exposed to unlimited liability in the event of a Fukushima-type accident involving any of their reactors. The rules, which were notified on November 11, were made public on Wednesday on the eve of Prime Minister Manmohan Singh's visit to Bali for a regional...

The foreign suppliers of nuclear material to Indian nuclear power plants would not be held liable for accidents caused by defective or faulty equipment supplied by them if the accident takes place after a guarantee period specified by them.   According to the Rules of the Civil Liability for Nuclear Damages Act, which was made public today, suppliers of nuclear material would be allowed to specify a ‘product liability period’ beyond which...

Government proposes to provide basic insurance coverage to an estimated 43 crore unorganized workers Furthering the United Progressive Alliance (UPA) government’s objective of inclusive growth, the National Advisory Council (NAC) headed by Congress president Sonia Gandhi will discuss ways of bringing India’s unorganized workers under the social security net in its meeting on 29 November. A new NAC working group on social security is working on draft recommendations that will seek to...

The govt has thus rejected the recommendation of the parliamentary standing committee on finance that the 26% FDI cap be a part of the Bill The cabinet on Wednesday cleared amendments to the Pension Fund Regulatory and Development Authority Bill, 2011, capping the overseas investment limit in the sector at 26%, but retaining the flexibility to raise this limit by stating that it would not form a part of the legislation. The...