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Showing posts with label Annual Income. Show all posts
Showing posts with label Annual Income. Show all posts

Tuesday, 28 February 2017

19:47

Life Insurance Corporation Of India Posted robust growth of 12.43% in the Total Premium Income

Life Insurance Corporation Of India Posted robust growth of 12.43% in the Total Premium Income

Mumbai: February 27,2017

Life Insurance Corporation of India’s total gross income of nine months ending December 2016 grew by 15.76% to 337465 cr. against Rs.291511 cr. last year. The new business performance of the corporation saw an impressive increase of 40.11% in first premium while the corporation posted robust growth of 12.43% in the total premium income at Rs145031cr compared to Rs1, 29,001 cr. during the previous year.

The total assets also showed a phenomenal growth to Rs2441946 cr. as opposed to Rs2164652 cr. the previous year which is an increase of 12.81%.  The Corporation has added more than 44000 agents to the rolls.

Addressing the gathering, Mr. V.K. Sharma, Chairman, LIC of India stated that, on the occasion of Dimond Jubilee, LIC launched a special plan, ‘Bima Diamond’ Corporation. Corporation sold over 5,86, 000 policies under the plan collecting over 322cr. premium. He further said that, corporation has recorded healthy results based on its strong fundamentals and core values. Trusted customers across the country have supported and enabled LICto report a robust financial performance.

About LIC
Life India Corporation has eight zonal offices, 113 divisional offices and 2048 branch offices all over the nation The headquarter is in Mumbai,  Maharashtra; while 1403 satellite offices and 1238 mini offices serve the nation.

The corporation which was started with an initial capital of rs.5 cr. subsequently raised to Rs.100 cr. has built a formidable institution with assets worth over 24 Lac cr. Today, LIC has servicing about 29 crore policies.

PIB/ SA (BG)

Source:PIBMUMBAI

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Tuesday, 28 June 2016

17:12

Auto traffic can enable Indian Railways earn revenue of Rs 2,500 cr per annum

Auto traffic can enable Indian Railways earn revenue of Rs 2,500 cr per annum

Railways have remained an underused mode of transportation for finished automobiles. Less than 5 percent of outbound automobile logistics is through railways.

NEW DELHI: Society of Indian Automobile Manufacturers (SIAM) highlighted the significance of railways in automobile industry, in its second day of Automotive Logistics Conclave held here on Wednesday.

Railways have remained an underused mode of transportation for finished automobiles. Less than 5 percent of outbound automobile logistics is through railways. Underdeveloped infrastructure at terminals for storage and handling, along with non-competitive pricing are key areas of concern in railway cargo transport.

The production and consumption patterns of automobile sector are growing in such a way that there is substantial demand for transporting the automobiles from one area to another.

Studies have indicated that 20 percent of auto traffic can be carried by rail. This will enable the railways sector to earn revenue of Rs 2500 crore per annum through rail freight against the existing Rs 100 crore per year.

Speaking on the occasion, UC Joshi, Executive Director (Freight Marketing), Railway Board, Ministry of Railways, said, "The Automobile Freight Transport Operator (AFTO) policy facilitates the investment on procurement of auto wagons and usage of Indian railways network for meeting the transport needs of the industry. This will be a well balanced situation for Indian Railways as well as the automobile industry/ logistics provider. In terms of logistics and other requirements, Indian Railways plans to introduce smaller capacity rakes to cater to lower volumes for smaller regions. We plan to put across a system which will enable us to monitor transit time and real time tracking of the consignment."

Over the last decade Indian Railways has initiated measures to improve the operational and commercial performance of its rail freight operations. These have included - increasing the permissible axle loading for major commodities; improving wagon utilization by raising train speeds together with incentives to customers to consign full rakes of wagons, cutting out the need for marshalling enroute; rationalizing train examination procedures to reduce service delays etc.

Commenting on the topic, H D Gujarati, Director, Dedicated Freight Corridor Corporation of India (DFCCIL), said, "DFC will be a game changer in the transport and logistics sector. We are focussing on having a significant increase in the average speed of freight trains, volumetric capacity per wagon and double stack containers on the western corridor. We are in a process to introduce modern technology with will allow better maintenance, train operations with low operating cost. Dedicated freight Corridor will be operational by 2020."

The last session of the conclave was concluded with the way forward where panellists discussed the various measure taken up for operational efficiency gains through technology and manpower upgradation. Infrastructure creation and capacity building will be crucial in the development of the sector and further development of the economy.



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Tuesday, 28 July 2015

18:21

Annual income criteria for creamy layer for OBCs has to be revised

Raise creamy layer from Rs. 6 lakhs to Rs. 10.5 lakhs-OBC

Annual income criteria for OBC

GOVERNMENT OF INDIA
MINISTRY OF SOCIAL JUSTICE AND EMPOWERMENT
RAJYA SABHA
UNSTARRED QUESTION NO-431
ANSWERED ON-23.07.2015

Annual income criteria for OBC

431 . Shri Devender Goud T.

(a) whether it is a fact that the annual income criteria for creamy layer for OBCs has to be revised once in every three years;

(b) if so, whether income criteria has been revised only three times since 1993;

(c) the reasons for not complying with the statutory obligation with regard to income criteria for OBCs;

(d) whether National Commission for OBC has recommended recently to increase the creamy layer from Rs. 6 lakhs to Rs. 10.5 lakhs; and

(e) if so, action taken on the above recommendation so far?

ANSWER
MINISTER OF STATE FOR SOCIAL JUSTICE AND EMPOWERMENT
(SHRI KISHAN PAL GURJAR)

(a) to (c): An Expert Committee set up in 1993 recommended for income criteria of Rs. 1 lakh per annum. The Expert Committee observed that since the Rupee value is bound to undergo change, the income criteria in terms of Rupees will accordingly stand modified with the change in value. The modification exercise may, normally speaking, be undertaken in every three years but if the situation demands, an interregnum may be less.

Keeping in view the recommendations of the Expert Committee, Government of India decided to constitute a Review Committee to consider the issue of modification of income criteria and circulated a Cabinet Note in March, 1999. The Cabinet approved constituting the Review Committee in its meeting on 27.11.2001. With the approval of the Hon’ble Prime Minister, the work relating to review the income criteria to exclude cream layer was entrusted to the National Commission for Backward Classes. The National Commission for Backward Classes (NCBC) submitted its report in January, 2004. The income criteria were revised on 9.3.2004. Hence, there was no delay in effecting the first revision of income criteria. NCBC was requested to review in December, 2007 and they submitted their report in July, 2008. After inter-ministerial consultation and the approval of Cabinet, the second revision was effected in October, 2008. Again, in July 2011, NCBC was requested to review the same and they submitted a report in September, 2011. The Cabinet approved on 16.05.2013 the revision of income criteria from 4.5 lakhs to 6.00 lakhs and, accordingly the 3rd revision was effected w.e.f. 16.05.2013.

(d) & (e): The recommendation of the National Commission for Backward Classes in this regard was received and the same has been sent to Department of Personnel & Training.

Source : Govemployees.


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