Tag: Benefit

Posted in Insurance

Maternity benefit could be increased

NEW DELHI :
The Employees’ State Insurance Corporation (ESIC) has moved a proposal to increase the confinement (maternity) expenses paid to an insured woman or an insured person for his wife under its health insurance scheme to 7,500 from 5,000.

According to a draft notification issued by the Ministry of Labour and Employment, stakeholders have been given 30 days’ time for providing their feedback on the proposal to hike maternity benefit under the ESI insurance scheme after which the government would consider the feedback and take the final call.

The notification proposes to change Rule 56A of the Employees’ State Insurance (Central) Rules, 1950, substituting the words “rupees five thousand” with “rupees seven thousand five hundred”.

Under Rule 56A, an insured woman or an insured person in respect of his wife is paid 5,000 per case on account of confinement expenses.

The benefit is available in those

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Posted in Finance

Goldman Sachs predicts these stocks will benefit from a weakening dollar

The U.S. dollar is slumping, but investors could still make some greenbacks off of a few key stocks.

FX strategists at Goldman Sachs predict the trade-weighted USD will weaken some 5.3% in the coming year, off of a roughly 4% slump from mid-May, strategists at the firm wrote in a note Friday.

To be sure, the dollar has taken a beating recently (the U.S. Dollar Index is down about 4% in the last month)—And there are those that are predicting the coronavirus crisis could topple its supremacy altogether. But despite the selloff, strategists at Goldman believe “the greenback remains overvalued by most metrics and offers poor fundamentals.”

Indeed, Morgan Stanley’s chief investment officer Lisa Shalett wrote in a Monday note that “we finally see the dollar bull dying, too, as the forces that created dollar scarcity—superior relative growth and yields, a shrinking current account deficit and more effective post-crisis policies—fade.”

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Posted in Insurance

Congress Not Rushing To Prevent Lapse Of Extra $600 Unemployment Benefit

WASHINGTON ― With two weeks until additional unemployment benefits expire, Congress remains at a standstill on another coronavirus package ― and the odds of lawmakers reaching a deal before people start missing payments are seeming increasingly long.

Despite some new consensus that the additional $600 in federal unemployment benefits shouldn’t disappear entirely, Republicans and Democrats are still far apart on an actual deal. Republicans are looking at a number closer to $200, and Democrats are pushing for benefits closer to $500. 

The benefits end on July 31, but Senate Majority Leader Mitch McConnell (R-Ky.) said Monday that senators won’t start negotiating in earnest until next week, when lawmakers return to the Capitol from recess. McConnell’s top priority for the legislation is protecting schools and businesses from coronavirus-related lawsuits — an idea Democratic leaders strongly oppose. 

The timing all but guarantees that even if Congress agrees to preserve benefits, it won’t

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