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BRICS officials meet to be held in Hyderabad: Dattatreya

Sat, Jul 16, 2016, 06:28 PM
Union Minister of State for Labour & Employment Bandaru Dattatraya, who returned home after attending the G-20 Labour Ministers Conference in China from July 11 to 13, said on Saturday that India would be hosting BRICS officials’ meeting in Hyderabad on July 27 and 28 and BRICS Ministers meeting in Agra in September this year.

Speaking to the media, Dattatraya said Prime Minister Narendra Modi was giving a lot of importance for employment generation in rural areas and had pumped Rs 1,824 crore as 90% share of the Centre in 2015-16 to Telangana.

He urged the State Government to utilize the funds for creation of productive assets.

The Union minister stated that the Centre was actively considering creation of Turmeric Park in Armoor of Nizambad District, Mirchi Park in Warangal and Khammam and Handloom Park in Gadwal and Pochampally. He said a Central team would be visiting Armoor for selecting a place for setting up of Turmeric Park.

Restructuring of EPFO

Dattatreya said he would shortly announce the restructuring of EPFO, creation of 21 Zones from the existing 10, promotions to employees, extension of EPFO service in the coming days and reducing the employees strength from the existing 20 to 10 for the EPFO eligibility, bringing the rural, semi-urban, unorganized, contract workers into the fold of EPFO social security resulting in increase of PF subscribers from existing six crore to about nine crore in the country.

He also said an amendment to the EPF Act would be made. He said speedy settlement of claims is on the agenda of EPFO for the purpose of recruitments and promotion to the employees is on the cards.

Mentioning about the Exchange Traded Funds, the Union Minister said as on June 30 this year, there is an investment of Rs 7468 crore in the share market, whose market value today stands at Rs 8024 crore.

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