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English Release 22-July 2014
Date Month Year
  • President's Secretariat
  • President participates in ‘DUA’ on the occasion of Khatam Shareef at the President’s Estate Masjid
  • President of India completes two years in office on July 25, 2014
  • Prime Minister's Office
  • PM wishes Indian athletes ahead of CWG 2014
  • HH Sri Vishvesha Tirtha Swamiji of Pejawar Mutt calls on PM
  • PM's telephonic conversation with Korean President
  • Gujarat Governor calls on PM
  • Shri Tarun Vijay presents book to PM
  • Min of Agriculture
  • Cotton Development Programme as a Sub Scheme Under NFSM
  • Target for Foodgrain Production during 2014-15
  • Schemes to Enhancing Production and Productivity of Agricultural Production
  • Promoting Modern Method of Paddy Cultivation
  • Promoting Conversion of Crop Residues into Biochar
  • Min of Chemicals and Fertilizers
  • Availability of Drugs and Their Prices
  • Min of Civil Aviation
  • Upgradation of Airports to International Standard
  • Government Plans to Upgrade Jaipur and Jodhpur Airports
  • Eighteen Tourist Destinations Under Air Services Agreement with Sri Lanka
  • Specific Provisions Fixed for Tendering by Delhi and Mumbai Airports
  • Three Low Cost Airports for Bihar
  • AAI holds 26% Equity in DIAL and MIAL
  • Government Undertakes Development of 35 Non-metro Airports
  • Government Takes Measures to Revive Aviation Industry
  • Pre-feasibility Study for Jagdalpur Airport Conducted
  • AI’s Merger with Indian Airlines Almost Complete
  • Min of Consumer Affairs, Food & Public Distribution
  • Measures to Clear Pendency of Cases at Consumer Fora
  • Foodgrains Storage Capacity of 203.76 lakh MT to be Constructed in 19 States
  • States Requested to Ensure Implementation of Food Security Act within Next Three Months
  • Min of Corporate Affairs
  • Changes in Companies Act
  • Provision Regarding Contribution to Political Parties by the Companies
  • Utilisation of CSR Funds for Welfare of SCS/STS
  • Min of Culture
  • Media reports on delay in key appointments to Cultural Bodies are factually incorrect: Ministry of Culture
  • Preservation of Heritage Sites
  • Monuments of National Importance
  • Local Languages
  • Development of Tribal Culture and Museums
  • Contribution of Great Personalities
  • Min of Defence
  • General Body meeting of Veteran Sailors’ Forum
  • Shortage of Officers and Personnel in Army
  • Implementation of OROP
  • Purchase of Used and Old Warships
  • Inquiry Into Accidents Involving IAF Aircrafts
  • FDI in the Defence Sector
  • Rafale Jet Contract
  • Suicides and Premature Retirement in the Armed Forces
  • Special Recruitment Drive for Tribals in Armed Forces
  • Accidents of IAF Aircrafts
  • Investigation into VVIP Helicopter Deal
  • Amendment to the Works of Defence Act, 1903
  • New Defence Production Policy
  • Induction of INS Kamorta
  • Strengthening of Security Near the Andamans
  • M777 Howitzer Deal with BAE Systems
  • Steps to Prevent Border Infiltration
  • Ministry of Finance
  • Finance Minister Shri Arun Jaitley Stresses on Capital Increase and the Need for Voice Reforms in the World Bank ; World Bank President Assures Support of the World Bank Group to Partner India’s Development Strategies and Aspirations Through Delivery of a Diversified Programme of Financing, Knowledge Exchange and Capacity Building
  • Tax Structure Needs to be Simplified to Help the Taxpayers Becoming Tax Compliant Rather than Tax Evaders: Ms Nirmala Sitharaman, Minister of State for Finance
  • Auction for Sale (Re-Issue) of Government Stocks
  • Min of Food Processing Industries
  • Mega Food Parks
  • Preservation of Perishable Fruits and Vegetables
  • Vision Document – 2015
  • Storage Facilities
  • Organic Food Processing Zones
  • Incentives to Food Processing Units
  • Min of Health and Family Welfare
  • Statement by Dr. Harsh Vardhan, Union Minister of Health & Family Welfare in both the Houses of Parliament on 22nd July 2014 regarding Doctor -- Pathological laboratory/ Diagnostic centres collusion defrauding the patient/consumer as revealed through sting operation titled “Operation Jonk” aired by News Nation TV channel on July 21, 2014
  • Lack of Cancer Specialists in the country
  • Improvement in the Health-Caresector for Children
  • Measures for Checking Vector-Borne Diseases
  • Government Working Towards Eradication of Measles by 2020
  • Medical Institutions Upgraded under PMSSY
  • Rural Health Infrastructure
  • Trauma Centres on National Highways
  • Treatment of Poor at AIIMS, New Delhi
  • Upgradation of Mental Healthcare Facilities
  • Victims of Contagious Diseases
  • Action Plan for National Urban Health Mission(NUHM)

  • Prosecutions Under COTPA, 2003
  • Quality Assessment of Ayush Facilities
  • Revision of National Health Policy
  • Approval for Additional MBBS Seats
  • Rise in Smoking Among Women
  • AIIMS-Like Institutes in the States
  • Disposal of Bio-Medical Waste
  • New Diagnostic Test for TB in Children
  • Opening of Metro Blood Banks
  • Production of Vaccines
  • Contract Workers Employed in NRHM
  • Promotion of AYUSH System of Medicines
  • Min of Home Affairs
  • NIA Investigations Adhere to Procedure Laid Down in Law
  • Indo-Australian Meeting on Illegal Migration
  • Disclosure of Foreign Funds/Donations
  • Quitting of Jobs by CRPF Personnel
  • Strength of Police Personnel
  • Overcrowding in Jails
  • Report of Interlocutors on J&K
  • Min of Human Resource Development
  • Strengthening Educational Ties Between India and Norway
  • Min of Micro,Small & Medium Enterprises
  • Lack of Exposure to Khadi and Village Industries
  • Khadi Industry
  • Contribution Of MSMEs To GDP, Exports and Employment
  • Role of Cottage and Small Industries
  • MSME Refinance Fund
  • Min of Minority Affairs
  • Allocation of Fund for Development of Minorities
  • Multi-Sectoral Development Programme for Minorities
  • Multi-Sectoral Development Programme
  • Equal Opportunity Commission
  • Health Scheme for Minorities
  • Minority Status to Seng Khasi Tribes
  • Min of Personnel, Public Grievances & Pensions
  • Joint Indo-French Science Council proposed
  • Inauguration of DoPT’s Basic Leadership Skills Module and Learning Resource Centre
  • Revised Rules for Declaration of Assets by Public Servants Under Provisions of the Lokpal Act
  • Min of Petroleum & Natural Gas
  • Global crude oil price of Indian Basket decreased to US$ 104.83. per bbl on 21.07.2014
  • Min of Social Justice & Empowerment
  • Empowerment of Transgender Community
  • Rehabilitation of Manual Scavengers
  • Babu Jagjivan Ram Chhatrawas Yojana
  • Review of National Policy for Senior Citizens
  • Abuse of Elderly Persons
  • Inclusion of Castes in SC Category
  • Vayoshreshtha Samman
  • Inter-Caste Marriages
  • Budget Expenditure on SC/OBC
  • Census of Persons with Disabilities
  • Allotment of Land to Physically Handicapped
  • Ministry of Tourism
  • Tourism Development in Telangana
  • Revenue Generation in Tourism Sector
  • Assistance for Development of Tourism
  • Tourism Promotion
  • Promoting Tourism
  • Multilingual Helpline for Tourists
  • Medical Tourism
  • Development of Kodaikanal
  • Min of Women and Child Development
  • Adoption guidelines being simplified to minimize delay in adoption process says Union Minister of Women and Child Development
  • Rs. 17,978 cr Spent on Schemes of Ministry of Women & Child Development in 2013-14

Previous Date

 
Prime Minister's Office22-January, 2007 12:46 IST
Prime Minister addresses CMs Conference on Pension Reforms
Referring to a number of infirmities in the present pension system, the Prime Minister, Dr. Manmohan Singh emphasized that there is a lot to be gained by moving forward and allowing a multiplicity of pension products delivered by a variety of agencies to be offered to our people.

Addressing the Chief Ministers’ Conference on Pension Reforms, here today, Dr. Singh pointed out that we do not, however, yet have a comprehensive social safety net focusing on old age income security covering the bulk of our population. “One major objective of the PFRDA Bill is to put in place the architecture and the delivery mechanism for pension schemes of these kinds”, he said. The suggestion that is being considered is that, pending a resolution of all issues related to the PFRDA Bill, these accumulated funds may be allowed to be invested in accordance with the investment pattern prescribed for non-government Provident Funds, the Prime Minister added.

Dr. Singh stressed the need for better management of pension liabilities so that state finances can be managed in a healthy, sustainable way in future by pointing out that the rising pension bills at all levels of Government would be increasingly difficult to finance in future, given the other demands that are there on our resources, particularly for enhancing our expenditures on essential social sectors such as health, education and rural development.

Shri Pranab Mukherjee, Minister of External Affairs, Shri A.K. Antony, Minister of Defence, Shri Shivraj Patil, Minister of Home Affairs, Shri Oscar Fernandes, Minister of Labour, Chief Ministers of several States and Finance Ministers of States were present on the occasion.

Following is the text of the Prime Minister’s address on the occasion:

“I am happy to be here at this conference on pension related issues. The Finance Minister has given us all the background for convening this conference and the purpose that we hope it will serve. I look forward to hearing the views of the Chief Ministers and Finance Ministers of States on these vital issues.

The Finance Minister has dwelt at length on the fiscal implications of the existing pension system for government employees. The rising pension bills at all levels of government would be increasingly difficult to finance in future, given the other demands that are there on our resources, particularly for enhancing our expenditures on essential social sectors such as health, education and rural development. Even in the states, all of you must be faced with the rising cost of pension liabilities which compete for your limited resources. All of you have large expenditure obligations to meet for ensuring the rapid development of your states. Therefore, we need better management of our pension liabilities so that state finances can be managed in a healthy, sustainable way in future. This is a very important basis for the changes in the pension system.

The other important reason for calling this meeting is that since 2004, the New Pension System is already in place for all freshly recruited Central Government employees and for employees in many state governments. In the last 3 years, the contributions of these new employees have accumulated in the Public Account. These get a fixed annual return of 8% only. The suggestion that is being considered is that, pending a resolution of all issues related to the PFRDA Bill, these accumulated funds may be allowed to be invested in accordance with the investment pattern prescribed for non-government Provident Funds. The pattern permitted for them has been circulated and will fetch a return superior to that given by the government at present without compromising the safety factor.

I would however, like to draw your attention to another equally important dimension of pension reforms, namely, the availability of pension instruments and schemes for the common man at large. India will face huge challenges in future due to the level and speed of ageing of the population. The life expectancy at age 60, which is around 16 years at present, is expected to rise rapidly, requiring longer periods of retirement support for the elderly. This becomes particularly acute for the unorganized sector, which is by far the major employer of our labour force. This large labour force functions without any options for their old age. At present, only 11% of the workforce is covered under some form of pension schemes. Within the organized sector, the coverage is accounted for largely by government employees. Therefore, workers in the unorganized sector, constituting 90% of the workforce, need a comprehensive pension system which they can subscribe to.

Government of India has a number of schemes to address problems of deprivation when people are of working age. Our Government has launched a National Rural Employment Guarantee Programme (NREGP) which we have implemented initially in 200 districts and plan to expand to cover all districts. The NREGP aims to provide a social safety net by guaranteeing employment in rural areas. This social safety net is available as long as the worker is in the productive age group.

There are other programmes and policies that have elements of the social safety net such as the Targeted Public Distribution System, the Indira Awaas Yojana, the National Rural Health Mission and various types of crop and livestock insurance. We do not, however, yet have a comprehensive social safety net focusing on old age income security covering the bulk of our population.

One major objective of the PFRDA Bill is to put in place the architecture and the delivery mechanism for pension schemes of these kinds. It is my belief that there is a lot to be gained by moving forward and allowing a multiplicity of pension products delivered by a variety of agencies to be offered to our people.

India is on the cusp of its demographic evolution and will miss out on a wonderful opportunity to put in place the social safety nets which an ageing population will soon demand. We should therefore collectively address this important issue, so that we can grasp this opportunity before it becomes an insurmountable problem.”

******

YSR/DS/LV
(Release ID :24234)

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