VIDHYASAHAYAK BHARTI 2018-19 FIRST ROUND 11/12/2018 THI SHARU THASHE Global policy to protect environment On realizing that human activities are the root cause of destruction of the environment, the countries of the world gathered at Stockholm, the capital of Sweden in 1972, to think of ways to protect the environment. Another convention was held at Rio-De-Janeiro, Brazil. In the meeting held at Copenhagen, capital city of Denmark in the year 2009, to discuss global warming, it was observed that the developed nations are not acceptingthe carbon cut (the technique to reduce the emission of greenhouse gases) and the developing nations were increasing pressure for the reduction of emission of greenhouse gases. It was decided to give an aid of 100 billion dollars for the development of developing nations. In this meeting 59 research papers from 45 countries were preented and through it, the leaders of the world were made to think seriously regarding the changing climate. On an average a citizen in the world emits4.5 metric ton dioxide, Indian citizen emits 1.2 metric ton carbon dioxide. Other developing nations release far lesser carbon dioxide gas. Large amount of concessions should be given for development and more restrictions should be imposed on the countries like the USA as an average American emits 20.6 metric ton carbon dioxide.While the minimum employee contribution remains at 10 per cent, the government contribution has been increased from 10 per cent to 14 per cent. The Cabinet, headed by Prime Minister Narendra Modi, also allowed government employees to commute 60 per cent of the fund accumulated at the time of retirement, up from 40 per cent at present. Also, employees will have the option to invest in either fixed income instruments or equities, sources said.
As per the Cabinet decision, if the employee decides not to commute any portion of the accumulated fund in NPS at the time of retirement and transfers 100 per cent to annuity scheme, then his pension would be more than 50 per cent of his last drawn pay, sources said.
The government did not announce the decision in view of the ensuing polls in Rajasthan Friday. While the government is yet to decide on the date of notification of the new scheme, sources said such changes usually come into effect from the beginning of a financing year, meaning April 1, 2019. This formula for changes in the NPS was worked out by the Finance Ministry based on the recommendation of a government-appointed committee.
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