LuLu Yusuff Ali urges not to drag his name into Trivandrum Airport issue

The Indian government is developing a 'Universal Pension Scheme' to provide pension benefits to all citizens, including those in the unorganised sector, according to sources. 

Key Features of the Proposed Scheme:

Inclusivity: Targets unorganised sector workers—such as construction workers, domestic staff, and gig workers—who currently lack access to large government-run savings schemes. 

Voluntary Participation: Open to all citizens aged 18 and above, including salaried employees and the self-employed. Participation is voluntary, with no mandatory government contributions. 

Streamlined Framework: Aims to consolidate existing pension and savings schemes, offering a unified and secure option for all citizens.

Complementary to Existing Schemes: Will not replace the National Pension System (NPS) but will serve as an additional option. 

Current Pension Schemes:

Atal Pension Yojana (APY): Provides a monthly pension of ₹1,000 to ₹5,000 after the investor turns 60, requiring regular contributions. 

Pradhan Mantri Shram Yogi Maandhan (PM-SYM): Benefits unorganised sector workers like street vendors and domestic workers, offering a monthly pension of ₹3,000 post-retirement.

Pradhan Mantri Kisan Maandhan Yojana: Designed for farmers, providing ₹3,000 monthly after the investor reaches 60 years of age.

The government plans to initiate stakeholder consultations once the proposal document is finalized.

This initiative reflects the government's commitment to enhancing social security and ensuring financial stability for all citizens in their retirement years.

First-time MLA Rekha Guptatook took oath as Delhi’s ninth Chief Minister on Thursday (February 20, 2025) at an event in the iconic Ramlila Maidan in the presence of Prime Minister Narendra Modi, Union Home Minister Amit Shah, Bharatiya Janata Party (BJP) president J.P. Nadda, and Chief Ministers and Deputy CMs of the National Democratic Alliance (NDA)-ruled States.

Lieutenant Governor of Delhi V K Saxena administered the oath of office and secrecy.

BJP's Parvesh Sahib Singh, Ashish Sood, Manjinder Singh Sirsa, Ravinder Indraj Kapil Mishra and Pankaj Kumar Singh also take oath as ministers in CM Rekha Gupta-led Delhi Government.

Rekha Gupta from Shalimar Bagh was chosen as the Leader of the House in the Delhi Assembly at the BJP legislature party meeting on Wednesday. The party has returned to power in Delhi after over 26 years, ending the 10-year rule of the Arvind Kejriwal-led AAP.

Born in Haryana's Julana, Gupta is a BCom graduate from Delhi University's Daulat Ram College. She later earned a law degree from Chaudhary Charan Singh University, Meerut, and also practised as an advocate.

Gupta, who has had a 32-year association with the RSS, began her political journey with the Akhil Bharatiya Vidyarthi Parishad (ABVP) at Delhi University's Daulat Ram College in 1992. In 1995-96, she was the secretary of the Delhi University Students' Union and was its president in 1996-97.

In 2002, she joined the BJP and has been the national secretary of the party's youth wing. Gupta has also served as the BJP's women wing in charge in Madhya Pradesh and Uttar Pradesh.

She is also the national vice-president of BJP Mahila Morcha.

The number of Indian high-net-worth individuals (HNWIs), those having assets more than $10 million, rose 6 per cent last year to 85,698, according to Knight Frank.

Global property consultant Knight Frank on Wednesday released its 'The Wealth Report 2025', which estimated the HNWI population in India at 85,698 in 2024, as against 80,686 in the preceding year.

The number is expected to rise to 93,753 by 2028, reflecting India's expanding wealth landscape, the consultant said.

The increasing trend of HNIW population highlights the country's strong long-term economic growth, increasing investment opportunities, and evolving luxury market, positioning India as a key player in global wealth creation.

India's billionaire population has also seen a strong year-on-year growth in 2024.

"India is now home to 191 billionaires, of which 26 joined the ranks in just the last year, which was pegged at just 7 in 2019," the consultant said.

The combined wealth of Indian billionaires is estimated at $950 billion, ranking the country third globally, behind the US ($5.7 trillion) and Mainland China ($1.34 trillion).

"India's growing wealth underscores its economic resilience and long-term growth potential. The country is witnessing an unprecedented rise in high-net-worth individuals, driven by entrepreneurial dynamism, global integration, and emerging industries," Shishir Baijal, Chairman & Managing Director, Knight Frank India, said.

This expansion is not just in scale but also in the evolving investment preferences of India's elite, who are diversifying across asset classes, from real estate to global equities, he added.

"In the decade ahead, India's influence in global wealth creation will only strengthen," Baijal said.