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Challenges Faced by Workers Under MGNREGA and Possible Solutions

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 The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), enacted in 2005, was envisioned as a social security measure aimed at providing livelihood security in rural areas by guaranteeing at least 100 days of wage employment in a financial year to every household whose adult members volunteer to do unskilled manual work. Despite its noble objectives, workers under MGNREGA face several challenges that undermine its efficacy. Understanding these challenges and exploring potential solutions can enhance its impact significantly. Challenges Faced by Workers Under MGNREGA 1. Delay in Wage Payments: One of the persistent challenges that workers face is the delay in wage payments. Although the act mandates payment within 15 days of work completion, delays are common. Reports indicate that delays can extend for months, undermining the economic security that the Mahatma Gandhi National Rural Employment Guarantee Act aims to provide. The average wage provided under the scheme, ...
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Does an FD Rate Calculator Work? Find Your Maturity Value Easily

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  Fixed deposits (FDs) have long been a popular choice among Indian investors looking for stable and reliable returns. As financial tools, they provide a sense of safety and guaranteed income, making them especially appealing to conservative investors like senior citizens. However, understanding the exact returns from an FD can sometimes be confusing, given the varying interest rates and compounding periods offered by different banks. This is where an FD rate calculator comes in handy. It simplifies the process of determining the maturity value of a fixed deposit by allowing investors to easily input their details and get a clear picture of their returns. The Functionality of an FD Rate Calculator An FD rate calculator is primarily an online tool designed to calculate the maturity amount of a fixed deposit. It takes into consideration factors such as the principal amount, the duration of the deposit, the rate of interest, and the compounding frequency. By inputting these parameter...
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Location: India
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Government Support in Atal Pension Yojana: How Much Does the Govt. Contribute?

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 The Atal Pension Yojana (APY) is a crucial initiative by the Government of India that aims to provide a sustainable retirement income for the unorganized sector. Introduced in 2015, the scheme plays a significant role in offering financial security to workers who otherwise lack retirement benefits. Under APY, subscribers receive a fixed pension ranging from ₹1,000 to ₹5,000 per month after reaching the age of 60, depending on their contributions made during their active age. Understanding the extent of government support in the Atal Pension Yojana becomes important for potential subscribers aiming to secure their post-retirement life.  Government Contribution in Atal Pension Yojana When the Atal Pension Yojana was launched, the government provided a notable incentive by contributing 50% of the subscriber's contribution or ₹1,000 per annum, whichever was lower, to those who joined the scheme before December 31, 2015, and who were not income tax payers or part of any statutory...
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Location: India
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Saksham Yojana and Skill Development: How It’s Preparing Youth for the Future

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  In the rapidly-evolving landscape of the 21st century, the need for a well-equipped and skilled workforce has never been more critical. The Saksham Yojana stands as a beacon of hope, aiming to empower the youth of India by equipping them with skills tailored for future industries. This initiative is more than just an employment scheme; it is a comprehensive approach to uplift the socio-economic status of young Indians by making them competent and self-reliant. The government’s strategic interventions in skill development through initiatives like the Saksham Yojana are not only addressing unemployment but also revolutionizing the skill ecosystem in India. Understanding Saksham Yojana Launched as a visionary scheme, Saksham Yojana is driven by the mission to train youth in various skill sectors, providing them with the necessary knowledge and competence to excel in the global markets. The primary goal is to reduce the skill gap that exists between academia and industry requirement...
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Location: India
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Senior Citizen FD Rates Are Higher and How to Benefit from Them

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  In the financial landscape of India, Fixed Deposits (FDs) have long been a preferred investment avenue for individuals seeking safety and predictability. The allure of FDs lies in their simplicity and the assurance of guaranteed returns. For senior citizens, the appeal is even more significant due to the typically higher interest rates offered. In this article, we'll explore the nuances of senior citizen fd rates, delve into what is a fixed deposit, and examine how senior citizens can optimize their investments. Additionally, a comprehensive 150+ word summary is provided at the bottom. Understanding Fixed Deposits Before diving into the specifics for senior citizens, it is crucial to address what is fixed deposit. A Fixed Deposit is a financial instrument offered by banks and non-banking financial companies (NBFCs), where individuals can deposit a lump sum of money for a fixed tenure at a predetermined interest rate. During the tenure, the money cannot be withdrawn, and at maturi...
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Location: India
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Step-by-Step Guide: Using a PPF Calculator to Track Your Investment Growth

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The Public Provident Fund (PPF) is a popular long-term investment option in India, known for its tax-saving benefits and guaranteed returns. It offers a safe haven for investors planning for retirement or long-term financial goals. One of the most convenient tools to help you manage your PPF investment is the PPF Calculator. This tool provides clarity and insight into how your investment will grow over time by considering the PPF rate of interest. This article provides a detailed step-by-step guide on using a PPF Calculator to track your investment growth.  Understanding the PPF Before jumping into calculations, it is essential to understand what PPF is. The PPF is a government-backed, fixed-income scheme introduced by the National Savings Institute of the Ministry of Finance in India. It offers assured returns with minimal risk, making it a favored choice among risk-averse individuals. Key Features of PPF: - Tenure: The PPF scheme has a maturity period of 15 years, which can be ex...
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Location: India
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Compare Types of Fixed Deposits Based on Interest Rates and Features

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Fixed Deposits (FDs) have long stood as a favored investment option for numerous individuals in India, courtesy of their safe and predictable nature. They're particularly appealing to risk-averse investors who'd prefer a steady return on their investments without the volatility of traditional markets. However, not all fixed deposits are created equal. This article seeks to introduce, compare, and delve into the various types of fixed deposits based on interest rates and features, highlighting some crucial differences between them.  Types of Fixed Deposits Understanding the different types of fixed deposit  is essential for making a choice that aligns with one's financial goals. Here's an exploration of different types: 1. Cumulative Fixed Deposits A cumulative fixed deposit is one where the interest is compounded annually but paid out at the time of maturity, along with the principal amount. This type of deposit suits investors who do not need a regular income but aim t...
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Location: India
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