Advance price agreement rules by July 1 - Indian Express

Advance price agreement rules by July 1 - Indian Express

• Transfer price refers to the amount used in accounting of a company for transfer of goods or services between different branches of a company (or from one company to another which belongs to the same group.) 
• Transfer pricing is a mechanism for distributing revenue and allocation of resources between different divisions which jointly develop, manufacture and market products and services.
•  Transfer pricing rules in most countries are based on “arm’s length principle" according to which the transfer price should be similar to the price that would be charged if the product were sold to outside customers or purchased from outside vendors (i.e. at market price). 
• An APA is an agreement between a taxpayer and tax authority concerning the TP method functional to a taxpayer's inter-company transactions.
•  Through the APA, the tax authority accept not to look for a TP adjustment for enclosed transactions as long as the taxpayer obey to the terms and conditions as agreed by the APA.

 Usually if two branches of a company are located in different countries, then they manipulate transfer pricing to show more profit in a country which has less taxes. Thus it leads to loss of tax revenue for higher taxing country like India.

bio toilets (ELOO - Environmental LOO)

• DRDO – Ministry of Defence offers an innovative technology for disposal of human waste in eco friendly manner. It uses bio digester technology. These Bio toilets can function at any atmospheric temp between -55 to 60 degree C. The bacterial consortium degrades night soil at temp as low as -55 degree C and produces colourless, odourless and inflammable bio gas containing 50 – 70% methane. humble bacteria — known as Psychrophile — holds the potential to solve India's sanitation problem in the years to come. The(DRDO) is using these bacteria for the bio-digester technology it developed for disposal of human waste in an eco-friendly manner. DRDO has already tied up with the Indian Railways for bio-toilets on trains.  The toilets developed by DRDO were originally meant for harsh climates. They can function at temperatures ranging from -55 degree Celsius to 60 degree Celsius. DRDO scientists brought the bacteria from Antarctica and started to develop them to suit Indian standards. This bacteria breaks down human waste and produces colourless and odourless inflammable bio gas that comprises 50-70% methane. 

CCI slaps record Rs 6,300 cr penalty on cement majors - Indian Express

CCI slaps record Rs 6,300 cr penalty on cement majors - Indian Express

Why do we need competition in the market ?
Competition makes enterprises more efficient and offers wider choice to consumers at lower prices. This ensures optimum utilization of available resources. It also enhances consumer welfare since consumers can buy more of better quality products at lower prices.
Fair competition is beneficial for the consumers, producers / sellers and finally for the whole society since it induces economic growth.

What is meant by unfair competition?
Unfair competition means adoption of practices such as collusive price fixing, deliberate reduction in output in order to increase prices, creation of barriers to entry, allocation of markets, tie-up sale , predatory pricing and discriminatory pricing.

What constitutes competition policy?

• Competition policy is defined as those Government measures that affect the behaviour of enterprises and structure of the industry with the view to promote efficiency and maximize welfare.
• There are two elements of competition policy:-
Ø First, a set of policies, such as liberalized trade policy, relaxed FDI policy, de-regulation, etc., that enhance competition in the markets.
Ø Second, legislation to prevent anti-competitive practices with minimal government intervention.

When was the competition law enacted in India?

• The Monopolies & Restrictive Trade Practices Act, 1969 is the first enactment to deal with competition issues and came into effect on 1st June 1970.
• The Government appointed a committee in October 1999 to examine the existing MRTP Act for shifting the focus of the law from curbing monopolies to promoting competition and to suggest a modern competition law. Pursuant to the recommendations of this committee, the Competition Act, 2002, was enacted on 13th January 2003.
• It provides for different notifications for making different provisions of the Act effective including repeal of MRTP Act and dissolution of the MRTP Commission.
The objectives of the Competition Act are to prevent anti-competitive practices, promote and sustain competition, protect the interests of the consumers and ensure freedom of trade.

Whether provision relating to repeal of MRTP Act has been notified?
• Not as yet.


What are the functions of CCI?
• CCI shall prohibit anti-competitive agreements and abuse of dominance, and regulate combinations (merger or amalgamation or acquisition) through a process of enquiry.
• It shall give opinion on competition issues on a reference received from an authority established under any law (statutory authority)/Central Government.
• CCI is also mandated to undertake competition advocacy, create public awareness and impart training on competition issues.


What is an anti-competitive agreement?
- An anti-competitive agreement is an agreement having appreciable adverse effect on competition. Anti-competitive agreements include:-
• agreement to limit production & supply
• agreement to allocate markets
• agreement to fix price
• bid rigging or collusive bidding
• conditional purchase/sale (tie-in arrangement)
• exclusive supply/distribution arrangement
• resale price maintenance
• refusal to deal


What orders the Commission can pass in case of anti-competitive agreements and abuse of dominance?
During the course of enquiry, the Commission can grant interim relief restraining a party from continuing with anti competitive agreement or abuse of dominant position
To impose a penalty of not more than 10% of turn-over of the enterprises and in case of cartel - 3 times of the amount of profit made out of cartel or 10% of turnover of all the enterprises whichever is higher
• After the enquiry, the Commission may direct a delinquent enterprise to discontinue and not to re-enter anti-competitive agreement or abuse the dominant position
• To award compensation
• To modify agreement
• To recommend to the Central Govt. for division of enterprise in case it enjoys dominant position.

The Commission comprises a Chairperson and six members. Ashok Chawla is the current Chairperson of the CCI

Environmental treaties

RBI gives green signal for white label ATMs - Indian Express

RBI gives green signal for white label ATMs - Indian Express

Serious Fraud Investigation Office (SFIO)

The SFIO is a multi-disciplinary organization under Ministry of Corporate Affairs, consisting of experts in the field of accountancy, forensic auditing, law, information technology, investigation, company law, capital market and taxation for detecting and prosecuting or recommending for prosecution white-collar crimes/frauds. The SFIO will normally take up for investigation only such cases, which are characterized by

• complexity and having inter-departmental and multi-disciplinary ramifications ;
• substantial involvement of public interest to be judged by size, either in terms of monetary misappropriation or in terms of persons affected, and; 
• the possibility of investigation leading to or contributing towards a clear improvement in systems, laws or procedures. The SFIO shall investigate serious cases of fraud received from Department of company Affairs.

Should we bother about Standard & Poor's warning to cut India's credit rating?(ET)

Standard & Poor has warned India that it could lose its investment grade credit rating in the coming months. So, should we pay heed, you might ask. The answer is yes, we do need a higher rating. Here's why:

What is an investment-grade credit rating?
Investment-grade ratings range between AAA (superior) and BBB- in S&P's nomenclature. India's rating, BBB-, is considered the lowest investment grade by market participants.
Any rating below BBB- is considered speculative grade. And CCC to C, the ratings below B, are considered vulnerable grade. The last category, D, is of bonds in default. Bonds that are not rated investment grade are known as highyield or junk bonds. Ratings from 'AA' to 'CCC' may be modified by the addition of a plus or minus sign to show relative standing within the major rating categories.

Why is an investment-grade rating necessary?
Big financial institutions diversify their investment risks by not putting all their eggs in one basket. So they invest in equities and bonds throughout the world.
Some of these institutions are pension funds, trusts and endowments, all of which follow very regimented investment styles and thus put their money only in investment-grade instruments. Hence, they will immediately exit bonds of any country that loses its investment-grade rating.
What are the implications?
If a country loses its investment-grade rating, it would face much higher costs for its future borrowing as its credibility will not be considered high and fewer lenders would want to invest. This loss of confidence would result in an outflow of funds from the equity markets as well because then investors would begin to have doubts about the economy as a whole.

What is Quantitative Easing?

Central banks usually stimulate a slowing economy by cutting interest rates, which encourages people to spend by borrowing more. But with rates in the developed world already close to zero, that option is no longer available. So central banks pump money directly into the economy, a process known as quantitative easing.

HOW IS THIS DONE?

Central banks expand their balance sheets by buying government securities or other securities from the market and financial institutions. This process increases the money supply by flooding financial institutions with capital, in an effort to promote increased lending and liquidity.

HAS THIS BEEN DONE EARLIER?

Developed countries used quantitative easing to spur growth following the 2008 financial meltdown. Subsequently, the US Fed went ahead with another round of QE in late 2010 (called QE2). Other central banks such as the Bank of England and Bank of Japan have also increased money supply via QE in the past two years.

HOW DOES IT WORK?

At any given point of time, there is a fixed amount currency /money chasing products and services available in the economy. The objective is to get more money into the system and promote consumption . The intention is also to spur lending by giving more cash in the hands of financial institutions.

HOW DOES IT HELP?

The flood of cheap money causes asset (shares and real estate) prices to rise. The notional high wealth, together with cheap and easy credit, encourages people to spend. Quantitative easing also helps devalue the currency , encouraging exports further and increasing the level of economic activity . The final consequence is increased demand resulting in ramping up of production , which, in turn, creates more jobs.

WHAT WILL BE THE IMPACT OF ANOTHER QE?

In today's globalised world, cheap money from developed economies may flow into emerging economies and fuel asset bubbles and inflation by perking up commodity prices. While India is in dire need of dollar inflows the positives are offset by rising commodity prices.


Difference between OMO and QE.
An open market operation (also known as OMO) is an activity by a central bank to buy or sell government bonds on the open market. A central bank uses them as the primary means of implementing monetary policy. The usual aim of open market operations is to control the short term interest rate and the supply of base money in an economy.

OMO's involve circulation of existing money. But during slowdown when these rates reach near to zero, central banks are forced to print fresh money to increase the liquidity and promote growth. This money is pumped into the system by buying govt securities. It usually devaluates the currency, but increases buying power hence helpful for growth and regaining the confidence of investors...

India's IMF contribution is not aid

The government has pledged $10 billion as its contribution towards a planned International Monetary Fund's cash chest to tackle the European crisis. So does that mean that Indians will pay for the rescue of the troubled European countries? Or does this amount to giving away precious dollars at a time when foreign inflows are slowing? No, the pledged amount will remain part of India's reserves. Rishi Shah explains:

IS INDIAN CONTRIBUTION AN AID?

No, it is not a giveaway. India is simply buying bonds from the IMF. These bonds are not free aid to the ailing European economies but financial instruments that guarantee safe and reasonable returns. The notes would provide a return of average interest rate of SDR's over the past three months. SDR, or special drawing right, is a reserve currency created by the IMF to supplement the existing reserves of member countries. After the global financial crisis of 2008, the Group of Twenty industrialized and emerging market economies agreed on April 2, 2009, to triple the International Monetary Fund's lending capacity to $750 billion, enabling it to inject extra liquidity into the world economy during times of crisis. India had then agreed in principle to inject $10 billion to the IMF war chest.

WHY IS INDIA MAKING A CONTRIBUTION? WHEN DID INDIA DECIDE TO BUY IMF BONDS?

This decision was taken on March 10, 2010. The Reserve Bank of India and IMF signed an agreement delineating the conditions under which India would purchase up to $10 billion in IMF notes. The fund said at that time that the agreement offered India a safe investment instrument as well as boost the Fund's capacity to help members to weather the global financial crisis.

HAVE OTHER EMERGING NATIONS ALSO MADE COMMITMENTS?

Yes, Brazil and Russia have agreed to buy $10 billion worth of bonds each while China has committed $43 billion to bolster IMF's resources. South Africa has said it will provide $2 billion. This additional contribution by BRICS and other countries, including Mexico and Turkey, has increased the bailout fund size to $456 billion.

Why GAAR caused panic (ET)

A look at why GAAR has caused panic among investors:

What are general anti-avoidance rules?
These rules, originally proposed in the Direct Taxes Code, are targeted at arrangements or transactions made specifically to avoid taxes. The government had decided to advance the introduction of GAAR and implement it from the current financial year itself. More than 30 countries have introduced GAAR provisions in their respective tax codes to check evasion.

What are the implications?
GAAR allows tax authorities to call a business arrangement or a transaction 'impermissible avoidance arrangement' if they feel it has been primarily entered into to avoid taxes.
Once an arrangement is ruled 'impermissible' then the tax authorities can deny tax benefits. Most aggressive tax avoidance arrangements would be under the risk of being termed impermissible. The rule can apply on domestic as well as overseas transactions.

What were the key concerns?
GAAR is a very broadbased provision and can easily be applied to most tax-saving arrangements. Many experts feel that the provision would give unbridled powers to tax officers, allowing them to question any taxsaving deal.
Foreign institutional investors are worried that their investments routed through Mauritius could be denied tax benefits enjoyed by them under the Indo-Mauritius tax treaty. The proposal had spooked stock market as FII inflows dropped on concerns, and the rupee hit a low of Rs 53.47 to the dollar.

What has the govt done now?
It has postponed GAAR to the next financial year. This will give a breather to tax payers and also allow the government time to frame clear rules after consultations with stakeholders.
He has also clarified that the onus to prove that an arrangement is 'impermissible' will lie with the tax department. The GAAR panel, the final body that will decide on the applicability of the law, will include an independent member.

Important Questions and answers

From Now onwards we should discuss few Probable questions and answers under this section. If you have few questions then you may post them in Comments.

PF contributions slipping, cloud over ‘pay-as-you-go’ model

• Contributions to the Employees’ Provident Fund Organisation (EPFO), the country’s largest and only social security fund for formal sector workers, has slipped into negative territory for the first time in years.
• With a Rs 5-lakh crore corpus, the fund is still the country’s second largest non-bank financial institution after the Life insurance Corporation of India.  
• Under current guidelines, workers earning upto Rs 6,500 per month in organisations with over 20 employees, are mandatorily part of the EPF scheme. Those earning over this threshold can join the EPF voluntarily. 
•  The slip is largely due to the fact that many workers have been pushed out of the mandatory EPFO net as a number of states have raised minimum wages. Besides, with an increasing number of workers coming into the job force as contractual employees, they are out of the PF net. 
• The government currently provides a susbidy of 1.16 per cent of salaries (for a maximum of Rs 6,500 per month) to the EPF, which is used for payouts to the provident fund and the related Employees’ Pension Scheme. Increasing the wage cap, would entail a higher subsidy payout for the Centre as well.  

'Pay As You Go Pension Plan'

• A retirement scheme where the plan beneficiaries decide how much they want to contribute either by having the specified amount regularly deducted from their paycheck or by contributing the desired amount in a lump sum. 
• The employee can choose among the various investment options and decide on whether they want a higher return by investing in a more risky fund or a safer fund which provides steady returns. 
• When retirement age comes along, the beneficiary can choose to either receive the benefits in a lump sum or as a lifetime annuity where the benefits are spread in monthly payments throughout the beneficiary's lifetime. This is different from a fully funded pension where the company fully funds, manages and distributes the benefits at retirement.  
  
  
   

Sulphur dioxide, a pollutant, could aid fight on TB

* Study at IISER involved organic compounds that release sulphur dioxide which kill Mycobacterium tuberculosis.

• The gas is commonly used both as an antibiotic and an antioxidant. For centuries, it has been used as a preservative in wine-making because of its properties as an antioxidant.
• the key challenge was to control the delivery of sulphur dioxide to tap its therapeutic potential and possibly avoid undesirable side effects.

* Compounds that generate sulphur dioxide faster were found to be better in inhibiting Mycobacterium tuberculosis (Mtb) growth.

* New approaches to treat tuberculosis are driven by the need to tackle multi drug-resistant strains of Mtb

* Anti-mycobacterial activity appeared to depend on the rate at which sulphur dioxide was generated from the compound

* Team looking at detailed toxicological studies to find out how toxic the sulphur dioxide ‘prodrug’ can be to human cells

* The IISER, Pune, research is a sort of proof-of-concept, which would require further, extensive studies

TB: Centre bans ‘inaccurate’ serology tests

• ·         According to Section 26(A) of the Drugs and Cosmetic Act, 1940, the Centre has prohibited the manufacture, sale and distribution of the serodiagnostic test kits for diagnosis of tuberculosis.

• ·         Few studies were conducted for evaluating the diagnostic accuracy of commercial serological tests for pulmonary and extra-pulmonary TB (where the infection affects parts of the body other than the lungs) with focus on their relevance in developing nations. The accuracy of serodiagnostic tests was found to be very low for both forms of TB.

• ·         India is the first and only country to have banned these tests, following the WHO policy.

How TB can be diagnosed?

 

• ·          Tuberculosis can be diagnosed through chest X-rays, analysis of sputum, skin tests. Chest X-rays can reveal evidence of active tuberculosis pneumonia. X-rays can also show scarring (fibrosis) or hardening (calcification) in the lungs, suggesting that the TB is contained.

• ·          Examination of the sputum on a slide (smear) under the microscope can show the presence of TB-like bacteria. A sample of sputum is usually taken and cultured in special incubators so that the TB bacteria can be identified.

Missile shield working

e-cigarette

• An electronic cigarette is an electrical device that simulates the act of tobacco smoking by producing an inhaled vapor bearing the physical sensation, appearance, and often the flavor of inhaled tobacco smoke, without its odor or, ostensibly, its health risks.
• It endeavors to deliver the experience of smoking without the adverse health effects usually associated with tobacco smoke, or to at least greatly reduce those risks.
• The device uses heat (or in some cases, ultrasonics) to vaporize a propylene glycol- or glycerin-based liquid solution into an aerosol mist, similar to the way a nebulizer or humidifier vaporizes solutions for inhalation.

What is underrecovery?

It is the gap between the local price of fuel and what would have been the price if the fuel were imported. e.g. Let's assume Indian companies import crude oil at $100 and after refining, oil's total production cost becomes $110. The cost of refined oil in international market is $115. Now if Indian companies sale the refined oil at $110 then they arent actually at loss, but there is an underrecovery of $5.

Is under-recovery the same as loss?

It is a notional loss in revenue to the extent the international price of the fuel is higher. It may or may not be a loss-making proposition to produce the fuel when there is an under-recovery.
In case of kerosene, oil companies suffer an under-recovery as well as a loss because the local retail price is much lower than the cost of crude oil. But sale of a product like petrol can still be very profitable at times, even if oil companies are reporting under-recovery of a few rupees a litre.

Does a rise in underrecovery make an oil co's operation less profitable?

It may not. At times, international crude oil prices remain flat but petrol and diesel prices rise. In such a situation, an Indian refinery's profitability will not change because crude oil costs have not gone up. But under-recovery would have risen because the cost of importing the fuel would have risen.

Has the concept of underrecovery exaggerated the problems of oil firms?

The reduced the supply of refined oil products and the change in the demand supply situation made petrol and diesel more costly. Under-recovery on diesel looks higher this year. In other words, oil companies want a higher price for diesel partly because some refineries in other countries were shut down. Apart from this, oil companies also charge a customs duty and a marketing margin, in addition to marketing cost, to calculate underrecovery. These are profits, not costs.

M-STrIPES

• It's Monitoring System for Tigers’-Intensive Protection and Ecological Status.
•  It’s a software monitoring system launched by the Indian Government in 2010 in some tiger reserves. 
• Aims
  • Assist in Effective Patrolling & Protection
  • Evaluate Status & Trends of Carnivores & Ungulates at Regular Intervals
  • Monitor Habitat Change
  • Evaluate Human Pressures
  • Generate Reports to Provide Quantitative Information for Management Effectiveness Assessment and Decision Making
• It uses GPS to collect data and GIS (Geographical Information System) to analyse collected information

Nutrient Based Subsidy Scheme for Fertilizers

• The fertilizers namely DAP, MOP, NPKS complexes, MAP, TSP, Ammonium Sulphate (AS) and Single Super Phosphate (SSP) are provided to the farmers at the subsidized rates based on the nutrients (N, P, K & S) contained in these fertilizers.
•  Additional subsidy is also provided on the fertilizers fortified with secondary and micronutrients as per the Fertilizer Control Order such as Boron and Zinc.
• Subsidy under the NBS is being released through the manufacturers/importers.

Section 4 of the RTE Act

Section 4 of the RTE Act provides that where a child in the age group of six to fourteen years has not been admitted to any school or though admitted could not complete elementary education, he/she shall be admitted in an age appropriate class, and will have the right to receive special training. Such children shall be entitled to free education till completion of elementary education even after fourteen years.

PURA Provisioning of Urban Amenities in Rural Areas

Context : PURA re-released as PURA 2.0

• 1500cr in 12th plan- measly support for a positive program to develop infra in rapidly urbanizing but unrecognized Census Towns, increases CT from Rs. 1000 to Rs. 3200 cr in 10 years (Census Towns -> town having more than 5,000 populations with a density of 400 people per square kilometer and where the male population engaged in non-agricultural activities is more than 75 percent)
• private companies in consultation with Gram Panchayats, which will be the nodal agency, can take up projects like sanitation, water supply, street lighting, roads and solid and liquid waste management on user-charges basis in the census towns
•  Rural Development Ministry providing a grant of 40 to 50 crore rupees; 70 to 80 crore rupees will be mobilized by ongoing central schemes, while the private sector is expected to bring in about 20 crore rupees. The Private Company in consulation with the Gram Panchayat will get the lease of 10 years for the physical infrastructure to be developed in such towns to recover the investment

Fortune at the Bottom of the Pyramid

• Tested business modes  ITC e choupal, HUL Shakti rural women entrepreneus, Tata Kisan Kendra, DCM shriram hariuali kisaan bazaar, SEWA, BASIX
• Public private partnership has seen Common Service centres under SEWA SREI sahaj e- village program -CSCSs in 6 states, providing G2C and B2C
• Common service centers - CSC operator as a Village level Entrepreneur VLE, State Center Agency SCA, State designated agency SDA , 3tier system
• Sahaj , a non banking finance company SREI subsidiary, part of NeGP - last mile access to organizations looking to offer services to >2000 population villages
• VLEs are local entrepreneurs , who offer services like zZIT education, tailway tickets, mobile recharge, insurance cover etc  -

PURA 1.0 (APJ Abdul Kalam's idea)

Freedom to PPP to provide add on revenue generating facilities like Village Linked Tourism Rural markets, warehousing, schools integrated rural hubs

• 15 clusters in 10 states, amenities by private players - water supply sewage roads drainage and telecom and electricity ,funding support by ADB and MEA as well 
• Bharat nirman, private investments and O&M for 10 years under contract, growth center of gram panchayat core- infra + economic regeneration
• Features  25 sq km 3-4 Panchayats, roads, drainage, 5 pits for SWM, Skill development  Lead Economic Activity, street lights, internet kiosks, biomass gas generation, 1MW plant
• PPP 78:22 for infra, 100% orivate for revenue generation, VGF, Risk mititgation and rish sharing between shareholders
• Total 619 districts, 6484 blocks, 2,55,000 panchayats, 5,93,731 villages, 5.4cr BPL hh
• Model
• Micro consumer/producer and innovators connected physically, financially, and information/knowledge based with rural entrepreneurs, giving him economic connectivity with formal economy
• Convergence seen in NRLM, TSC and NRWDP in capital expenditure  provisioning, private player gets land free for public amenities, revenue sharing for other activities, after 10 years, reverts back to GP/state for maintenance and use

Rashtriya Swasthya Bima Yojana RSBY

Context  - Universal Health Coverage in Twelfth Five Year Plan, on recommendations of K Srinath Reddy Committee
Sub-topics - Regulating Ministry, Beneficiaries, Terms and Conditions, Objectives, Performance, Problems/Issues

• Min of labor and employment, BPL households coverage of 30,000 for hospitalisation, cashless hospitalisation in empanelled hospitals with Health Cards, family of 5
• Nominal registration fee from user, premium paid 50:50 by centre and state max 750 rs per family per year, access to quality care, demand driven program

• Highly flexible and convenient
• Givens users option to public or private facilities of his choice, covers ALL preexisting diseases from day one, no age limit
• IT intensive biometric smart card, all hospitals connected at district level for info gathering and updation
• Portable, can be used in any district elsewhere
• Business model for insurers- premium paid for each household enrolled, hospitals get greater flow into public hospitals , monitored by insurers to prevent fraud, excessive administrative expense claims - competitive bidding for insurers, claim settlement between hospital and insurer, not the consumer!
• With greater flow ins of rural patients one hopes the RSBY money makes private sector set up hospitals in rural areas- 100bed hospital in Ballia mainly due to RSBY flux
• Covers transportation expenses as well
• Intermediaries like NGOs MFI compensated, strong measures like de empanelment of hospitals for fraud

• Performance 2.76 cr cards, total 31 lakh cases, 8200 hosps empaneled , sustainable - 89% burnout ratio (cash paid put against premium) for 2nd year district, saw 6% hospitalization
• Covers unemployed, unorganised labor, NREGA street vendors, railway portes, Kisan card holders etc
• Problems - insurance company incentivized to enroll but not for utilization- need to introduce an efficiency in service standard , very few TPAs third party administrators leading to higher chance/possibility of collusive fraud
• Beneficiaries  below poverty line families in unorganised sector, rickshaw pullers, domestic workers ,toddy tappers, ragpickers etc  also include NREG workers(15 day limit), mining industry
• Domestic workers brought under law, identify domestic workers, include in central list of scheduled employment, 4.75 million. Reform crucial for migrant workers and tribals from outflow states
• 30000 rs coverage to family of 5, treatment from empanelled private and government hospitals , smart cards may be extended for other benefits- maternity, death and disability
• Bring in unorganized labor, since it ends next year, will start an autonomous board to regulate & look after the program