"The Provident Fund Office has allowed companies to cap their per-month PF contribution to employees at Rs. 6,500. At present, companies contribute an amount equal to at least 12 per cent of an employee’s basic salary towards his/her PF. Now if a company chooses it need not provide more than Rs. 6,500, the overall benefits of some salaried employees could be hit by the new circular..."
"The government is proposing to raise foreign direct investment (FDI) in the defence sector to 100 per cent through the approval route. Sources said the commerce and industry ministry had circulated a Cabinet note for inter-ministerial consultation...This is the first major initiative of the ministry after Nirmala Sitharaman took its charge this week...The United Progressive Alliance government had pegged FDI in the sector at 26 per cent..."
"In a 2011 paper, Labour and Employment under Globalisation, The Case of Gujarat, Indira Hirway and Neha Shah observe that there is a small modern sector (such as the refineries and petrochemicals plants put up by Reliance and Essar) enjoying “highly capital-intensive technology and high incomes and a large traditional sector with low skills, low productivity and low incomes” though this has the highest employment potential, it has been neglected by Mr Modi because of a policy of pushing for fast GDP growth.
