If you don’t claim your PF now, it could end up in government’s kitty
Advertisement
Advertisement
There is more than Rs 43,000 crore of unclaimed provident fund money in India, and the government is considering using it to fund its flagship schemes like Swachh Bharat Abhiyan and Housing for All. This means that if you don’t claim your PF now, it could be used to fund government schemes in the future.
As per officials, the idea was popped up by government's think tank NITI Aayog, which overlooks the key schemes of Indian government. The idea was proposed so that these projects are not delayed due to lack of funds.
"We are looking into the proposition of taking a loan from
The government is yet to decide whether the money would be used in the form of a loan or bonds. The EPFO has already invested the PF amount of more than '7 lakh crore in government securities, bonds, debts and equity.
Advertisement
These flagship programmes require huge amounts of money so that they can be implemented and completed timely, including Rs 2 lakh crore for constructing 12 crore toilets across India by 2019 under Swachh Bharat Abhiyan and Rs 6 lakh crore to build 6 crore houses under Housing for All programme by 2022.
Image source
Advertisement
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- 2 states where home prices are falling because there are too many houses and not enough buyers
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- 9 health benefits of drinking sugarcane juice in summer
- 10 benefits of incorporating almond oil into your daily diet
- From heart health to detoxification: 10 reasons to eat beetroot
- Why did a NASA spacecraft suddenly start talking gibberish after more than 45 years of operation? What fixed it?
- ICICI Bank shares climb nearly 5% after Q4 earnings; mcap soars by ₹36,555.4 crore
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market