No disagreement with finance ministry on 8.55% EPF rate: Labour minister

EPF interest rate to be ratified by May or June 2018

by Natasha Nadkar

There is no disagreement with the ministry of finance on providing 8.55 per cent interest rate for 2017-18 to over 50 million subscribers of Employees’ Provident Fund Organisation (EPFO), according to the labour minister Santosh Gangwar. In February 2018, the central board of trustees of the EPFO had recommended an 8.55 per cent interest rate for 2017-18 [see here]. The labour minister stated that the ministry of finance can provide suggestion on EPFO’s proposal. The proposed interest rate will be ratified by May or June 2018 as per convention. He further said that there is no proposal from the ministry of labour & employment to enhance minimum monthly pension under the Employees’ Pension Scheme 1995 [see here].

References
1. http://www.business-standard.com/article/economy-policy/no-disagreement-with-finmin-on-8-55-interest-on-epf-says-labour-minister-118041500151_1.html
CMIE STATISTICS
Unemployment Rate
Per cent
6.3 +0.1
Consumer Sentiments Index
Base September-December 2015
93.5 +0.8
Consumer Expectations Index
Base September-December 2015
93.9 +0.6
Current Economic Conditions Index
Base September-December 2015
92.8 +1.0
Quarterly CapeEx Aggregates
(Rs.trillion) Jun 17 Sep 17 Dec 17 Mar 18
New projects 2.32 1.37 1.18 2.15
Completed projects 0.87 1.21 1.02 1.06
Stalled projects 2.67 0.69 0.93 3.34
Revived projects 0.30 0.34 0.23 0.14
Implementation stalled projects 0.73 0.72 0.58 1.05
Updated on: 23 Apr 2018 12:20PM
Quarterly Financials of Listed Companies
(% change) Jun 17 Sep 17 Dec 17 Mar 18
All listed Companies
 Income 9.6 7.9 11.9 12.3
 Expenses 9.9 9.0 12.9 11.5
 Net profit -19.9 -18.1 -13.9 14.1
 PAT margin (%) 5.3 5.5 4.9 19.5
 Count of Cos. 4,481 4,468 4,430 48
Non-financial Companies
 Income 10.2 8.2 13.2 8.5
 Expenses 10.5 8.2 12.3 7.7
 Net profit -25.1 -6.0 12.7 9.7
 PAT margin (%) 5.2 6.2 6.4 19.8
 Net fixed assets 9.2 0.7
 Current assets 78.7 7.3
 Current liabilities 11.0 21.6
 Borrowings 10.4 -5.3
 Reserves & surplus 5.2 -2.1
 Count of Cos. 3,458 3,441 3,426 34
Numbers are net of P&E
Updated on: 23 Apr 2018 12:20PM
Annual Financials of All Companies
(% change) FY15 FY16 FY17 FY18
All Companies
 Income 5.5 1.5 5.1 1.6
 Expenses 5.6 1.7 5.1 0.7
 Net profit 0.0 -10.3 23.7 9.2
 PAT margin (%) 3.1 2.8 3.6 8.3
 Assets 9.5 10.0 6.9 3.3
 Net worth 8.5 11.4 6.0 2.8
 RONW (%) 5.8 4.9 5.9 12.7
 Count of Cos. 25,647 23,668 20,755 19
Non-financial Companies
 Income 4.7 0.6 4.7 1.5
 Expenses 4.9 0.0 5.2 0.6
 Net profit -8.6 18.4 18.0 10.7
 PAT margin (%) 2.0 2.5 3.1 7.4
 Net fixed assets 13.3 17.3 5.4 4.4
 Net worth 6.9 12.0 4.4 2.9
 RONW (%) 4.6 5.1 6.0 11.5
 Debt / Equity (times) 1.1 1.1 1.0 0.2
 Interest cover (times) 1.9 1.9 2.1 11.8
 Net working capital cycle (days) 66 65 62 38
 Count of Cos. 20,897 19,807 17,287 17
Numbers are net of P&E
Updated on: 18 Apr 2018 11:50AM

Time series available from 1990 onwards