VK News Today https://validator.w3.org/feed/docs/rss2.html Born on These Dates? Your Past Karma Is Catching Up This Month ‘Sprayed water into their mouths with toilet jet’: How 5 nannies abused toddlers for ‘crying’ at Bengaluru’s Capgemini day care ‘It will put Vaibhav Sooryavanshi under more pressure’: Sunil Gavaskar warns Team India management ‘Alpha’ advance booking report Day 1: Alia Bhatt starrer records Rs 1.52 crore in pre-sales; spy film eyes double-digit opening ‘China trying to take over’: Trump calls giving away Panama Canal ‘stupid mistake’ Jul 02, 2026, 07:26 IST SS Rajamouli inducted into France’s Institut Lumiere’s ‘Wall of Filmmakers’; ‘Varanasi’ director says ‘India is a huge treasure trove of stories’ Shani’s Karmic Test: 3 Habits Destroying Your Peace of Mind Right Now ‘Isakapatnam’ OTT release: When and where to watch Aishwarya Rajesh’s crime-thriller series Over millennia, philosophers have struggled to clearly answer the question: ‘who is rich?’ A useful metric, easy to measure as well as compare, is income. The somewhat subjective factors that affect happiness (Good health? Freedom? Control of one’s time? Leisure?) also correlate well with it: People in high income countries also tend to have more leisure and better health, for example.The most widely followed categorisation of countries is by the World Bank and uses a per capita nominal GDP threshold of $14,000 for high-income status. This was fixed at $6,000 in 1987 prices, and has risen at around 2% annually since then, broadly tracking developed-economy inflation. At least 85 countries (around 40% of those ranked) were classified high-income in 2024.Per capita GDP is not a perfect measure. First, it ignores income distribution within a country. If income is concentrated in the hands of a few, even if the mean per capita income is high, many people would be poor. One can track median income, which is the middle-value when incomes are lined from smallest to largest. If there are too many poor and very few rich, the median would be lower than the mean. We note though that the gap between them tends to narrow significantly as economies become prosperous.Second, consumption may better indicate material well-being and differs from income, as savings, the gap between income and consumption, vary between economies, and between the rich and the poor. Some researchers even adjust for leisure and life-expectancy to arrive at ‘consumptionequivalent welfare’. However, this is hard to measure and compare accurately and frequently.Third, purchasing power parity (PPP)-based per capita GDP is a better measure of welfare, as it adjusts for cost-of-living differences. For example, a haircut or a taxi ride would be much cheaper in India than in the US, even though they deliver similar value. Per capita GDP in the US is 29 times India’s in nominal USD terms, but only seven times India’s in PPP-adjusted terms. On nominal GDP per capita, India ranked 140 globally among 196 nations, versus 162 in 2005, and is expected to rank 134 by 2030. Its PPP-adjusted rank was 124 and expected to rise to 117 by 2030. Over time, though, these series converge.Thus, a macroeconomic target based on per capita GDP, though not perfect, is the most appropriate.India’s move up the ranks over the past two decades has been among the most consistent globally, but China and Vietnam have moved faster. China was at India’s 2025 per capita GDP in 2007 and ranked 123. It has moved up to 73 and is on the verge of high-income status with a per capita income nearly five times that of India. Vietnam was at our level in 2016 and is now ranked 122, with per capita GDP around 60% higher than India’s.Can India reach high-income status? And by when? As chart 2 shows, to cross the high-income threshold by 2047, India must grow per capita GDP in USD terms by at least 9% annually, and GDP by 9.5%. If inflation averages 4%, and the rupee depreciates 2% annually against the USD, real growth needs to average 7.5% annually for the next 25 years.While this is indeed India’s current growth rate, as the economy moves towards the productivity frontier, growth will begin to taper: economies at the frontier grow less than 2.5% annually. Thus, growth must be faster over the next decade to compensate for the nearly inevitable slowdown in the 2040s.How must one accelerate growth? It helps to view growth in GDP as coming from growth in labour input, in capital formation, and in productivity.While labour input is linked to slow-changing-demographics, and cannot be changed quickly, India can and must lift its abysmally low female workforce participation in paid work. A large part of India’s demographic dividend would otherwise be wasted. While weak demand for labour is a major challenge, improved law-and order, regulations that ease part time work, and focus on job-creation in sectors that are dominated by women globally are essential interventions.The bulk of the acceleration in growth must come from faster capital formation. The starting conditions are in place, with a significant drop in the cost of capital, driven by the govt’s fiscal discipline and the remarkable flow of household savings into equities (through systematic investment plans, and insurance and pension funds) worth nearly 2% of GDP annually. The significant expansion in financial system capacity to provide credit now needs channels to facilitate flows to where credit is needed, like to MSMEs, via frameworks like OCEN (open credit enablement network).Policy must also prioritise easing real estate supply via regulatory changes and construction of urban infrastructure. Real estate and infrastructure form a major part of capital stock in developed economies — their construction creates demand for labour and materials and are an important driver of growth.India must also maintain its current rapid pace of productivity improvement. Individual prosperity cannot be achieved without productivity growth.Among other requirements (like better health and education), this needs significant investments in science and technology. Unlike what Japan, Taiwan, Korea and even China saw while they grew, India cannot hope for an ‘assisted’ rise and instead must prepare for a ‘resisted’ rise, where it must develop its own critical technology. This is also important to prevent getting stuck in the middle-income trap, which has plagued many Latin American and eastern Europeans. Building a risk-capital and innovation ecosystem well in advance is important to make the transition from middle-income to high-income.While new technologies like artificial intelligence (AI) and robotics will improve productivity globally, we believe they can help India much more, by bringing down unit costs across a range of critical sectors, breaking through vicious cycles that slow progress.Lastly, some of the societal shifts that Joel Mokyr emphasises in his book ‘A Culture of Growth,’ drove the industrial revolution in Britain, seem to be underway in India. Entrepreneurship is becoming socially respected and is now getting rewarded, the seeds of an innovation system are now falling in place, and the govt is beginning to see itself as a partner of business instead of viewing it with distrust.If we focus relentlessly on building a high-trust society (enabled by a modernising judiciary), with higher risk appetite (not just for entrepreneurs and investors but also policymakers), a high-income India by the late 2040s is not an unachievable dream.The writer is chief economist, Axis BankGet the latest India news and live updates. Download the TOI App.About the AuthorNeelkanth MishraWriter is chief economist, Axis Bank.End of ArticleFollow Us On Social MediaVideos’Highly Deplorable’: India Slams Pakistan Over Demolition Of 125-Year-Old Gurdwara In FarooqabadHealth Concerns Mount As Sonam Wangchuk’s Blood Sugar Falls, Weight Drops As Fast ContinuesDMK Seeks FIR Against CM Vijay, Alleges Plot To Induce MLAs And Alter Assembly NumbersCongress Claims BJP in West Bengal “Will Be Equally Aggressive”; MP Sparks Debate On GovernanceIran Invites BJP Chief Nitin Nabin, Congress Prez Kharge, Pawan Khera To Khamenei’s Funeral: ReportModi Cabinet Reshuffle Buzz: Will NDA Allies And Rebel MPs Find A Place In The Union Cabinet?Three Arrested, Senthil Balaji Under Scanner In Alleged TVK Government Toppling BidCongress Moves Privilege Motion Against Rajnath Singh Over Op Sindoor Claims; Seeks Transparency’Neglecting For 2.5 Years’ Kailash Vijayvargiya’s Letter To CM Mohan Yadav Triggers Political StormWATCH: Eggs, Vegetables Hurled At Mahua Moitra; TMC MP Accuses ‘BJP Goons’, Says Police Stood By123PhotostoriesLock Upp 2: Ram Kapoor, Sunita Ahuja to Akanksha Chamola—contestants’ net worth revealed; this celebrity tops the list with Rs 135 croreWilliam Faulkner’s quote, ‘You cannot swim for new horizons until you have courage to lose sight of the shore,’ perfectly explains why growth demands riskThink you will get your full deposit back? These surprisingly common move-out mistakes could lead to major deductions from your security depositPsychology says children need their parents the most during these 5 vulnerable moments of the day and how parents should respond during these momentsVande Bharat on a budget: 5 routes you can travel for under INR 1,5005 secrets to build an aura everyone feels attracted toPersonality test: Solo trip or holiday with your partner? What your travel style tells you about yourself5 shocking facts about octopuses that seem too strange to be realBengaluru daycare horror: 8 red flags every parent should know before choosing a daycare10 beautiful baby girl names inspired by the beauty of nature and their heartwarming meanings123Hot PicksLPG gas pricePatrick MahomesNEET PG RegistrationEmployees Provident Funds SchemeGTA 6India vs England t20Marcus SmartNayara petrol priceHow to Watch FIFA World Cup TodayTop TrendingNayara energy petrol priceLPG priceKetan Agarwal Murder CaseFIFA World Cup 2026Monaco BlastBengaluru TechieAnukalp MishraSergei IvanovIndigo Check-in Bag FaresAyodhya Ram Temple Donation Theft Quote of the day by Morgan Freeman: ‘If you live a life of make-believe, your life isn’t worth anything until you do something that does challenge your reality,’ an inspiring lesson by the Hollywood veteran on determination and explaining why stepping out of your comfort zone is essential Numerology horoscope today, July 01, 2026: What your name’s first letter reveals today “The day Charlie was k****d…..”: Candace Owens’ latest Charlie Kirk theory sparks fierce response from critics NEW DELHI: The Tamil Nadu govt has moved the Supreme Court against the Madras high court order imposing a blanket ban on the slaughter of cows and calves in the state.In its plea, the Tamil Nadu govt challenged the May 27 order of the high court, which directed the chief secretary and the director general of police/head of police force to ensure that no cow or calf got slaughtered across the state either on the eve of Bakrid on May 28, or on any other day.“In a writ petition seeking a direction to ‘prevent the slaughter of cows in public places’, the HC ought to have travelled beyond the issue involved, to impose an absolute and blanket ban…,” the govt’s appeal said. The HC order was based on a 1976 ruling .Madras HC order on cow slaughter ban based on 1976 rulingOn May 27, the high court, while hearing a PIL filed by K Surya Prasanth, the general secretary of Hindu Makkal Katchi, which sought direction to prevent the slaughtering of cows in public places, directed the state govt to impose the blanket ban. The plea also sought directions that slaughter be carried out at designated places only.The high court order was based on a 1976 ruling, which prohibited cow slaughter in the interest of milk production and improvement of rural economy. In its plea, the state govt termed the order contrary to the Tamil Nadu Animal Preservation Act, 1958.The Act permits the slaughter of cows aged over 10 years that are unfit for work and breeding, on the basis of a certificate issued by a competent authority. The high court, however, imposed a blanket ban.Get the latest India news and live updates. Download the TOI App.End of ArticleFollow Us On Social MediaVideos’Highly Deplorable’: India Slams Pakistan Over Demolition Of 125-Year-Old Gurdwara In FarooqabadHealth Concerns Mount As Sonam Wangchuk’s Blood Sugar Falls, Weight Drops As Fast ContinuesDMK Seeks FIR Against CM Vijay, Alleges Plot To Induce MLAs And Alter Assembly NumbersCongress Claims BJP in West Bengal “Will Be Equally Aggressive”; MP Sparks Debate On GovernanceIran Invites BJP Chief Nitin Nabin, Congress Prez Kharge, Pawan Khera To Khamenei’s Funeral: ReportModi Cabinet Reshuffle Buzz: Will NDA Allies And Rebel MPs Find A Place In The Union Cabinet?Three Arrested, Senthil Balaji Under Scanner In Alleged TVK Government Toppling BidCongress Moves Privilege Motion Against Rajnath Singh Over Op Sindoor Claims; Seeks Transparency’Neglecting For 2.5 Years’ Kailash Vijayvargiya’s Letter To CM Mohan Yadav Triggers Political StormWATCH: Eggs, Vegetables Hurled At Mahua Moitra; TMC MP Accuses ‘BJP Goons’, Says Police Stood By123PhotostoriesLock Upp 2: Ram Kapoor, Sunita Ahuja to Akanksha Chamola—contestants’ net worth revealed; this celebrity tops the list with Rs 135 croreWilliam Faulkner’s quote, ‘You cannot swim for new horizons until you have courage to lose sight of the shore,’ perfectly explains why growth demands riskThink you will get your full deposit back? These surprisingly common move-out mistakes could lead to major deductions from your security depositPsychology says children need their parents the most during these 5 vulnerable moments of the day and how parents should respond during these momentsVande Bharat on a budget: 5 routes you can travel for under INR 1,5005 secrets to build an aura everyone feels attracted toPersonality test: Solo trip or holiday with your partner? What your travel style tells you about yourself5 shocking facts about octopuses that seem too strange to be realBengaluru daycare horror: 8 red flags every parent should know before choosing a daycare10 beautiful baby girl names inspired by the beauty of nature and their heartwarming meanings123Hot PicksLPG gas pricePatrick MahomesNEET PG RegistrationEmployees Provident Funds SchemeGTA 6India vs England t20Marcus SmartNayara petrol priceHow to Watch FIFA World Cup TodayTop TrendingNayara energy petrol priceLPG priceKetan Agarwal Murder CaseFIFA World Cup 2026Monaco BlastBengaluru TechieAnukalp MishraSergei IvanovIndigo Check-in Bag FaresAyodhya Ram Temple Donation Theft Jul 02, 2026, 06:36 IST Shanaya Kapoor’s Telugu debut: Actor to join ‘Hanu-Man’ star Teja Sajja in ‘Zombie Reddy’ sequel – Reports Pisces Horoscope Today, July 02, 2026: A day of balance awaits “Misogynist, homophobic and racist”: Clavicular’s runway debut sparks fresh debate over fashion’s obsession with controversy Jul 02, 2026, 05:30 IST Jos Buttler scripts history for England, joins Quinton de Kock in elite T20I list ‘Mother Promise’ early review: Daali Dhananjaya’s film gets positive first reaction; Overseas distributor calls it a ‘Roller coaster laughter ride’ Indian Army’s field hospital saves elderly woman rescued from rubble in quake-hit Venezuela Marking a breakthrough in biological engineering, researchers claim to have created the world’s first synthetic cells that can feed, grow and replicate like a natural cell, taking a big step towards the holy grail of making a living organism out of non-living components.Developed by University of Minnesota scientists under a project called SpudCell, the work could in time lead to made-to-order living machines.“We’ve replicated in chemistry what only used to be possible in biology: the complete set of behaviours of a cell. It proves that fundamental functions of life, like growth and replication, don’t need a mysterious magical spark,” said Kate Adamala, who led the effort, in a note released by the varsity.The SpudCell isn’t quite ‘alive’. It can’t survive without deliveries of food and ribosomes, the molecular machines needed to make proteins. It also has no defences or a good waste removal system. SpudCell: Genetic change helped cells grow fasterBut experts said it’s the most compelling demonstration yet that it is possible to generate life from non-life. “This work is just the beginning. We are showing it’s possible to engineer the basic functions of the cell. To fully realise the promise of this technology — to make it robust and practical — we need combined international effort,” Adamala said.SpudCell is a pared down version of a living cell. While natural cells divide using internal scaffolding called a cytoskeleton, the synthetic cell sidesteps the need for a cytoskeleton with proteins that crowd together on the membrane surface until the mechanical stress makes the membrane split. Researchers introduced a genetic change that increased production of fusion protein, resulting in cells that grew faster and produced more offspring. After five generations, the faster-growing variant had out-competed the original, the university said.While a human genome is roughly 3 million kilobase pairs (kbp) in size, SpudCell’s genome is relatively tiny at 90 kbp. Rather than a single chromosome, the genome is split across seven separate DNA plasmids, allowing the team to “program” various functions of the cell independently.Get the latest India news and live updates. Download the TOI App.End of ArticleFollow Us On Social MediaVideos’Highly Deplorable’: India Slams Pakistan Over Demolition Of 125-Year-Old Gurdwara In FarooqabadHealth Concerns Mount As Sonam Wangchuk’s Blood Sugar Falls, Weight Drops As Fast ContinuesDMK Seeks FIR Against CM Vijay, Alleges Plot To Induce MLAs And Alter Assembly NumbersCongress Claims BJP in West Bengal “Will Be Equally Aggressive”; MP Sparks Debate On GovernanceIran Invites BJP Chief Nitin Nabin, Congress Prez Kharge, Pawan Khera To Khamenei’s Funeral: ReportModi Cabinet Reshuffle Buzz: Will NDA Allies And Rebel MPs Find A Place In The Union Cabinet?Three Arrested, Senthil Balaji Under Scanner In Alleged TVK Government Toppling BidCongress Moves Privilege Motion Against Rajnath Singh Over Op Sindoor Claims; Seeks Transparency’Neglecting For 2.5 Years’ Kailash Vijayvargiya’s Letter To CM Mohan Yadav Triggers Political StormWATCH: Eggs, Vegetables Hurled At Mahua Moitra; TMC MP Accuses ‘BJP Goons’, Says Police Stood By123PhotostoriesLock Upp 2: Ram Kapoor, Sunita Ahuja to Akanksha Chamola—contestants’ net worth revealed; this celebrity tops the list with Rs 135 croreWilliam Faulkner’s quote, ‘You cannot swim for new horizons until you have courage to lose sight of the shore,’ perfectly explains why growth demands riskThink you will get your full deposit back? These surprisingly common move-out mistakes could lead to major deductions from your security depositPsychology says children need their parents the most during these 5 vulnerable moments of the day and how parents should respond during these momentsVande Bharat on a budget: 5 routes you can travel for under INR 1,5005 secrets to build an aura everyone feels attracted toPersonality test: Solo trip or holiday with your partner? What your travel style tells you about yourself5 shocking facts about octopuses that seem too strange to be realBengaluru daycare horror: 8 red flags every parent should know before choosing a daycare10 beautiful baby girl names inspired by the beauty of nature and their heartwarming meanings123Hot PicksLPG gas pricePatrick MahomesNEET PG RegistrationEmployees Provident Funds SchemeGTA 6India vs England t20Marcus SmartNayara petrol priceHow to Watch FIFA World Cup TodayTop TrendingNayara energy petrol priceLPG priceKetan Agarwal Murder CaseFIFA World Cup 2026Monaco BlastBengaluru TechieAnukalp MishraSergei IvanovIndigo Check-in Bag FaresAyodhya Ram Temple Donation Theft ‘Muthassi’ OTT release date: Here’s when and where to stream Amith Chakalakkal’s Malayalam horror series Money Slipping Away? Check This Vastu Corner of Your House Today Vincent Trocheck trade: Rangers acquire Sean Durzi, Cole Beaudoin from Mammoth; Details NEW DELHI: India and Malaysia on Wednesday reviewed the entire spectrum of bilateral military cooperation and expressed satisfaction with the steady progress achieved. The discussions, during the 12th India-Malaysia sub committee meeting on military cooperation in New Delhi, covered ongoing defence engagements, including military-to-military exchanges, bilateral exercises, training, staff talks, capacity building, maritime cooperation, and cooperation in emerging domains.The meeting was co-chaired by joint secretary, defence ministry, Amitabh Prasad and assistant chief of staff, defence operations & training, Malaysian armed forces Maj Gen Amer Mahmud Bin Abdul Rahman.Both sides acknowledged the successful conduct of regular bilateral activities and agreed to further strengthen cooperation between their defence forces through enhanced exchanges, professional interactions, and increased participation in each other’s military courses and training institutions. The delegations also discussed opportunities for expanding collaboration in the fields of defence industry, defence technology, cyber security and humanitarian assistance & disaster relief.Both sides appreciated each other’s active participation in the Asean defence ministers’ meeting-plus (ADMM-Plus) framework and reaffirmed their commitment to working closely in promoting practical cooperation under the experts’ working group on counter-terrorism. They also exchanged views on regional and global security developments and reiterated their shared commitment to maintaining peace, stability, security and freedom of navigation in the Indo-Pacific, in accordance with international law.The meeting underscored the importance of strengthening defence cooperation as a key pillar of the India-Malaysia Enhanced Strategic Partnership. Both sides reaffirmed their commitment to further deepening bilateral defence ties based on mutual trust, shared interests, and a common vision for a secure, stable, and prosperous Indo-Pacific.Get the latest India news and live updates. Download the TOI App.End of ArticleFollow Us On Social MediaVideos’Highly Deplorable’: India Slams Pakistan Over Demolition Of 125-Year-Old Gurdwara In FarooqabadHealth Concerns Mount As Sonam Wangchuk’s Blood Sugar Falls, Weight Drops As Fast ContinuesDMK Seeks FIR Against CM Vijay, Alleges Plot To Induce MLAs And Alter Assembly NumbersCongress Claims BJP in West Bengal “Will Be Equally Aggressive”; MP Sparks Debate On GovernanceIran Invites BJP Chief Nitin Nabin, Congress Prez Kharge, Pawan Khera To Khamenei’s Funeral: ReportModi Cabinet Reshuffle Buzz: Will NDA Allies And Rebel MPs Find A Place In The Union Cabinet?Three Arrested, Senthil Balaji Under Scanner In Alleged TVK Government Toppling BidCongress Moves Privilege Motion Against Rajnath Singh Over Op Sindoor Claims; Seeks Transparency’Neglecting For 2.5 Years’ Kailash Vijayvargiya’s Letter To CM Mohan Yadav Triggers Political StormWATCH: Eggs, Vegetables Hurled At Mahua Moitra; TMC MP Accuses ‘BJP Goons’, Says Police Stood By123PhotostoriesLock Upp 2: Ram Kapoor, Sunita Ahuja to Akanksha Chamola—contestants’ net worth revealed; this celebrity tops the list with Rs 135 croreWilliam Faulkner’s quote, ‘You cannot swim for new horizons until you have courage to lose sight of the shore,’ perfectly explains why growth demands riskThink you will get your full deposit back? These surprisingly common move-out mistakes could lead to major deductions from your security depositPsychology says children need their parents the most during these 5 vulnerable moments of the day and how parents should respond during these momentsVande Bharat on a budget: 5 routes you can travel for under INR 1,5005 secrets to build an aura everyone feels attracted toPersonality test: Solo trip or holiday with your partner? What your travel style tells you about yourself5 shocking facts about octopuses that seem too strange to be realBengaluru daycare horror: 8 red flags every parent should know before choosing a daycare10 beautiful baby girl names inspired by the beauty of nature and their heartwarming meanings123Hot PicksLPG gas pricePatrick MahomesNEET PG RegistrationEmployees Provident Funds SchemeGTA 6India vs England t20Marcus SmartNayara petrol priceHow to Watch FIFA World Cup TodayTop TrendingNayara energy petrol priceLPG priceKetan Agarwal Murder CaseFIFA World Cup 2026Monaco BlastBengaluru TechieAnukalp MishraSergei IvanovIndigo Check-in Bag FaresAyodhya Ram Temple Donation Theft Board weightage mooted in entrance exam revamp Taylor Swift and Travis Kelce’s wedding ceremony NOT at Madison Square Garden; invitee Anthony Jabin says ‘It’s a little bit of a surprise’ USA VS Bosnia and Herzegovina Live Score, FIFA World Cup 2026 Round of 32: USMNT chase Round of 16 berth against history-makers Capricorn Horoscope Today, July 02, 2026: Day brings recognition and respect Will Patrick and Brittany Mahomes make it back in time for Taylor Swift and Travis Kelce’s wedding? Their latest photo dump has fans wondering NEW DELHI: The Centre has issued an eviction notice to the Delhi Gymkhana Club, saying that the club is in “unauthorised occupation of public premises” since the land lease ended on May 22. The Land and Development Office (L&DO) under the housing and urban affairs ministry, in the show-cause notice to the club, has sought an explanation why eviction order should not be passed against it.Invoking the provisions of Public Premises (Eviction of Unauthorised Occupants) Act, L&DO has asked the club and all persons concerned occupying the premises to submit their response by July 7 and appear for a personal hearing on that day at 2.30pm.The govt’s move to get back the 27.3 acre land parcel comes over a month after the Centre told Delhi HC on May 26 that it won’t take forceful possession by June 5 (as per its earlier notice) and that the eviction proceedings would only be initiated in accordance with the law and after giving due notice.The L&DO said that Clause 4 of the Perpetual Lease Deed reserves power of the lessor (govt) to resume and re-enter (resume physical possession of property) whenever it’s required for “public purpose”. It added that the premises are “critically required for strengthening and securing defence infrastructure, public security purposes, urgent institutional needs, governance infrastructure and other public-interest projects”. L&DO said that after the end of the lease and re-entry, the club ceased to have all rights and authority to continue occupying the premises.Get the latest India news and live updates. Download the TOI App.End of ArticleFollow Us On Social MediaVideos’Highly Deplorable’: India Slams Pakistan Over Demolition Of 125-Year-Old Gurdwara In FarooqabadHealth Concerns Mount As Sonam Wangchuk’s Blood Sugar Falls, Weight Drops As Fast ContinuesDMK Seeks FIR Against CM Vijay, Alleges Plot To Induce MLAs And Alter Assembly NumbersCongress Claims BJP in West Bengal “Will Be Equally Aggressive”; MP Sparks Debate On GovernanceIran Invites BJP Chief Nitin Nabin, Congress Prez Kharge, Pawan Khera To Khamenei’s Funeral: ReportModi Cabinet Reshuffle Buzz: Will NDA Allies And Rebel MPs Find A Place In The Union Cabinet?Three Arrested, Senthil Balaji Under Scanner In Alleged TVK Government Toppling BidCongress Moves Privilege Motion Against Rajnath Singh Over Op Sindoor Claims; Seeks Transparency’Neglecting For 2.5 Years’ Kailash Vijayvargiya’s Letter To CM Mohan Yadav Triggers Political StormWATCH: Eggs, Vegetables Hurled At Mahua Moitra; TMC MP Accuses ‘BJP Goons’, Says Police Stood By123PhotostoriesLock Upp 2: Ram Kapoor, Sunita Ahuja to Akanksha Chamola—contestants’ net worth revealed; this celebrity tops the list with Rs 135 croreWilliam Faulkner’s quote, ‘You cannot swim for new horizons until you have courage to lose sight of the shore,’ perfectly explains why growth demands riskThink you will get your full deposit back? These surprisingly common move-out mistakes could lead to major deductions from your security depositPsychology says children need their parents the most during these 5 vulnerable moments of the day and how parents should respond during these momentsVande Bharat on a budget: 5 routes you can travel for under INR 1,5005 secrets to build an aura everyone feels attracted toPersonality test: Solo trip or holiday with your partner? What your travel style tells you about yourself5 shocking facts about octopuses that seem too strange to be realBengaluru daycare horror: 8 red flags every parent should know before choosing a daycare10 beautiful baby girl names inspired by the beauty of nature and their heartwarming meanings123Hot PicksLPG gas pricePatrick MahomesNEET PG RegistrationEmployees Provident Funds SchemeGTA 6India vs England t20Marcus SmartNayara petrol priceHow to Watch FIFA World Cup TodayTop TrendingNayara energy petrol priceLPG priceKetan Agarwal Murder CaseFIFA World Cup 2026Monaco BlastBengaluru TechieAnukalp MishraSergei IvanovIndigo Check-in Bag FaresAyodhya Ram Temple Donation Theft WC assists top-end as smart TVs shrink ‘Lethal Weapon’ star Danny Glover diagnosed with Alzheimer’s disease; says ‘things are going to be different and changing’ Saturn Enters Revati: 4 Zodiac Signs Facing Big Financial Closures This Month Debt’s the way for Indian IT acquisition funding Aquarius Horoscope Today, July 02, 2026: Brace for a day of financial caution ‘Maa Inti Bangaaram’ box office collections day 13: Samantha Ruth Prabhu’s film sees 21.2% drop; Earns Rs 1.30 crore in India Stebin Ben reacts to viral video of his mother ignoring Nupur Sanon outside restaurant: ‘Saas-bahu are always on the same team’ Questions set, demographic panel to seek info from states NEW DELHI: In an overhaul of provident fund rules for nearly eight crore active members, Employees Provident Fund Organisation (EPFO) has said 12% contribution up to the statutory wage ceiling, which is currently at Rs 15,000 a month, is mandatory. Any contribution above that will be treated as voluntary.Even if your basic salary is Rs 1 lakh a month, Rs 1,800 will be deducted towards your PF contribution – along with a matching contribution by the employer. But you will also have the option to park the amount out of the remaining salary towards retirement savings.”An employee may opt to contribute, on a voluntary basis, an additional contribution on wages exceeding the statutory wage ceiling at statutory rate or at any rate in excess of statutory rate,” according to provisions of the Employees’ Provident Funds Scheme, 2026 notified Wednesday.Employers have the option – not an obligation – to match these additional voluntary contributions, and both the employees and employers can reduce or discontinue such additional voluntary contributions at any time.EPFO simplifies withdrawals, cuts categories from 13 to just 3An official told TOI, “The flexibility introduced in the scheme is to provide greater autonomy to the contributing members for their retirement savings. These provisions have been discussed extensively in the central board of trustee meetings (CBT) and have been made with their concurrence and align with the objectives of the new labour codes.”Given that most private sector employees and employers have a cost-to-company relationship, salaries may be restructured, allowing both sides to work out an arrangement that is beneficial to the EPFO subscriber.The provision regarding coverage, however, remains unchanged as the new scheme provides continuity of membership by specifically stating that employees who were members under the earlier scheme will continue as members.The new scheme implements the changes related to withdrawals which were approved by the Central Board of Trustees last Oct . These changes include increasing the number of withdrawals that can be made in a year and streamlining the categories for drawing out advance funds, from 13 to just three – essential needs (illness, education, marriage); housing needs; and special circumstances.EPFO has also approved advance withdrawal up to 100% of the ‘eligible balance’ in the PF, including employee and employer share, with members now required to always maintain 25% of the contributions in their accounts as the minimum balance.For contract workers, the new scheme specifies the definition of “principal employer” and puts the onus of ensuring PF contributions for contractual staff on them.”The scheme has also clarified that the principal employer is responsible for making payment of PF contribution for employees engaged by or through a ‘contractor’ only where the contractor is not registered independently. However, even where the PF payment is made by the contractor, the ultimate responsibility for contributions remains with the principal employer,” said Puneet Gupta, a partner at EY India.The new scheme also introduces several provisions on compliance requirements/filings to be done by the employer, including one-time, monthly and event-based compliances. Every employer is now required to file a consolidated return (in Form V) within 15 days of application of the scheme, giving details of all employees, including their Aadhaar, PAN, universal account number, gross wages and EPF wages.Along with the EPF Scheme 2026, govt has notified three special drives intended to regularise historical compliance gaps and resolve long-pending issues.Get the latest India news and live updates. Download the TOI App.End of ArticleFollow Us On Social MediaVideos’Highly Deplorable’: India Slams Pakistan Over Demolition Of 125-Year-Old Gurdwara In FarooqabadHealth Concerns Mount As Sonam Wangchuk’s Blood Sugar Falls, Weight Drops As Fast ContinuesDMK Seeks FIR Against CM Vijay, Alleges Plot To Induce MLAs And Alter Assembly NumbersCongress Claims BJP in West Bengal “Will Be Equally Aggressive”; MP Sparks Debate On GovernanceIran Invites BJP Chief Nitin Nabin, Congress Prez Kharge, Pawan Khera To Khamenei’s Funeral: ReportModi Cabinet Reshuffle Buzz: Will NDA Allies And Rebel MPs Find A Place In The Union Cabinet?Three Arrested, Senthil Balaji Under Scanner In Alleged TVK Government Toppling BidCongress Moves Privilege Motion Against Rajnath Singh Over Op Sindoor Claims; Seeks Transparency’Neglecting For 2.5 Years’ Kailash Vijayvargiya’s Letter To CM Mohan Yadav Triggers Political StormWATCH: Eggs, Vegetables Hurled At Mahua Moitra; TMC MP Accuses ‘BJP Goons’, Says Police Stood By123PhotostoriesLock Upp 2: Ram Kapoor, Sunita Ahuja to Akanksha Chamola—contestants’ net worth revealed; this celebrity tops the list with Rs 135 croreWilliam Faulkner’s quote, ‘You cannot swim for new horizons until you have courage to lose sight of the shore,’ perfectly explains why growth demands riskThink you will get your full deposit back? These surprisingly common move-out mistakes could lead to major deductions from your security depositPsychology says children need their parents the most during these 5 vulnerable moments of the day and how parents should respond during these momentsVande Bharat on a budget: 5 routes you can travel for under INR 1,5005 secrets to build an aura everyone feels attracted toPersonality test: Solo trip or holiday with your partner? 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Viral video sparks buzz over Ranbir Kapoor’s Lord Ram look – WATCH Scorpio Horoscope Today, July 02, 2026: Brace for a day of contrasts ATF, commercial LPG prices cut as global crude cost eases Representative image NEW DELHI: Govt has directed Meta-owned WhatsApp not to roll out its proposed usernames feature in India until further consultations are completed, while asking the company to submit a detailed explanation within three days on how the system will operate and prevent misuse.In a notice issued to WhatsApp’s chief compliance officer, MeITY said it had taken note of the company’s announcement that users would soon be able to reserve unique usernames, and eventually, start conversations without sharing their mobile-phone numbers.New feature could increase phishing, digital arrests: GovtOnce activated, the feature would allow first-time contact through usernames alone, and users would also have the option of protecting their account with a “username key”.While acknowledging the privacy benefits, the notice by the ministry of electronics and information technology said the change could “materially increase” incidents of online fraud, phishing, digital arrest scams and impersonation by making it easier for malicious actors to contact unsuspecting users.The notice also flagged the possibility of identity spoofing through usernames resembling those of individuals, public authorities, financial institutions and govt agencies, raising concerns that fraudsters could exploit the feature to deceive users.Citing Information Technology Act, 2000, and IT Rules, 2021, the notice asked Meta to explain “why regulatory action ought not to be initiated” for launching a feature that, in govt’s view, “may increase cybercrimes”. It also reminded WhatsApp that as a “significant social media intermediary”, it is bound by due diligence requirements under the IT Rules, including provisions related to impersonation, identity theft and tracing the first originator of messages where lawfully required.WhatsApp has been directed to furnish a detailed explanation, supported by relevant documents, within three days of receiving the communication. The company has also been instructed not to launch the feature in India until consultations with govt are concluded “to the satisfaction of govt”.Responding to the development, a WhatsApp spokesperson said the usernames feature has not yet gone live and will be rolled out gradually later this year. The company said, “Users will still require a phone number to use WhatsApp and that usernames are designed to add another layer of privacy rather than replace existing account verification.” It added that public figures, govt entities, celebrities and verified Meta accounts will have their usernames reserved to prevent impersonation, while lookalike variants will also be blocked.WhatsApp said it has “built multiple safeguards into the feature, including limits on how many new users an account can contact, protections against repeated attempts to guess usernames, and systems to detect impersonation and abusive behaviour”.Get the latest India news and live updates. Download the TOI App.End of ArticleFollow Us On Social MediaVideos’Highly Deplorable’: India Slams Pakistan Over Demolition Of 125-Year-Old Gurdwara In FarooqabadHealth Concerns Mount As Sonam Wangchuk’s Blood Sugar Falls, Weight Drops As Fast ContinuesDMK Seeks FIR Against CM Vijay, Alleges Plot To Induce MLAs And Alter Assembly NumbersCongress Claims BJP in West Bengal “Will Be Equally Aggressive”; MP Sparks Debate On GovernanceIran Invites BJP Chief Nitin Nabin, Congress Prez Kharge, Pawan Khera To Khamenei’s Funeral: ReportModi Cabinet Reshuffle Buzz: Will NDA Allies And Rebel MPs Find A Place In The Union Cabinet?Three Arrested, Senthil Balaji Under Scanner In Alleged TVK Government Toppling BidCongress Moves Privilege Motion Against Rajnath Singh Over Op Sindoor Claims; Seeks Transparency’Neglecting For 2.5 Years’ Kailash Vijayvargiya’s Letter To CM Mohan Yadav Triggers Political StormWATCH: Eggs, Vegetables Hurled At Mahua Moitra; TMC MP Accuses ‘BJP Goons’, Says Police Stood By123PhotostoriesLock Upp 2: Ram Kapoor, Sunita Ahuja to Akanksha Chamola—contestants’ net worth revealed; this celebrity tops the list with Rs 135 croreWilliam Faulkner’s quote, ‘You cannot swim for new horizons until you have courage to lose sight of the shore,’ perfectly explains why growth demands riskThink you will get your full deposit back? These surprisingly common move-out mistakes could lead to major deductions from your security depositPsychology says children need their parents the most during these 5 vulnerable moments of the day and how parents should respond during these momentsVande Bharat on a budget: 5 routes you can travel for under INR 1,5005 secrets to build an aura everyone feels attracted toPersonality test: Solo trip or holiday with your partner? 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