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Date: 06-Jul-2024 Category: Weekly State: Union Government Country: India

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Executive Summary & Key Takeaways

Gazette Notification Description

  • This gazette notification announces a resolution from the Ministry of Finance (Department of Economic Affairs), dated July 3, 2024, regarding the interest rate on various provident funds for the year 2024-2025.
  • The resolution specifies an interest rate of 7.1% on accumulations in ten specified provident funds, effective from July 1, 2024, to September 30, 2024.

Key Changes

  • Interest rate on ten specified provident funds is set at 7.1% for the period July 1, 2024, to September 30, 2024.
  • This rate applies to the General Provident Fund (Central Services), Contributory Provident Fund (India), All India Services Provident Fund, State Railway Provident Fund, General Provident Fund (Defence Services), Indian Ordnance Department Provident Fund, Indian Ordnance Factories Workmen’s Provident Fund, Indian Naval Dockyard Workmen’s Provident Fund, Defence Services Officers Provident Fund, and Armed Forces Personnel Provident Fund.
  • The change is effective from July 1, 2024.

Impact Analysis

Impact on Provident Fund Subscribers

  • The impact on individual subscribers will vary depending on the amount accumulated in their respective accounts.

Impact on the Government

  • The exact financial impact will depend on the total accumulated amount in all the funds.

Suggested Action Items

  • Monitor the financial impact of the interest rate change on government expenditure.

Key Entities Referenced

Ministry of Finance (Department of Economic Affairs): The issuing authority of the resolution, responsible for setting the interest rates on provident funds. General Provident Fund (Central Services) and other similar funds: Ten specific provident funds affected by the interest rate change. Gazette of India: The official publication where the resolution is mandated to be published. Ashish Vachhani, Additional Secretary: The signatory of the resolution.
Official Source Record View Original Source →
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jftLVªh la- Mh,y ¼,u½ 04@0007@2003&&24 — REGISTERED No. DL—(N) 04/0007/2003—24 lR;eso t;rs सी.जी.-डी.एलxx.x-GसIाD.-H0x6x0x72024-255230 CG-DL-W-06072024-255230 xxxGIDExxx lkIrkfgd@WEEKLY çkf/kdkj ls çdkf'kr PUBLISHED BY AUTHORITY la- 27] ubZ fnYyh] 'kfuokj] tqykbZ 6 —tqykbZ 12] 2024 ¼vk"kk<+ 15] 1946½ No. 27] NEW DELHI, SATURDAY, JULY 6—JULY 12, 2024 (ASADHA 15, 1946) bl Hkkx esa fHkUu i`"B la[;k nh tkrh gS ftlls fd ;g vyx ladyu ds :i esa j[kk tk ldsA (Separate paging is given to this Part in order that it may be filed as a separate compilation) fo"k;&lwph i`"Bla- i`"B la- Hkkx I—[k.M&1—¼j{kk ea=ky; dks NksM+dj½ Hkkjr ljdkj ds NksM+dj½ }kjk tkjh fd, x, lkafof/kd ea=ky;ksa vkSj mPpre U;k;ky; }kjk tkjh dh vkns'k vkSj vf/klwpuk,a.............................. ¹ xbZ fof/krj fu;eksa] fofu;eksa] vkns'kksa rFkk Hkkx II—[k.M&3—mi [k.M ¼iii½—Hkkjr ljdkj ds ea=ky;ksasa ladYiksa ls lEcfUèr vfèlwpuk,a............... 465 ¼ftlea sj{kk e=a ky; Hkh 'kkfey gS½ vkSj dsUnhz; Hkkx I—[k.M&2—¼j{kk ea=ky; dks NksM+dj½ Hkkjr ljdkj ds ikzf/kdj.kk sa ¼l?ak 'kkflr {k=s ka s d s iz'kkluk sa dks ea=ky;ksa vkSj mPpre U;k;ky; }kjk tkjh dh NkMs +dj½ }kjk tkjh fd, x, lkekU; lkfaof/kd xbZ ljdkjh vf/kdkfj;ksa dh fu;qfDr;ksa] fu;eka s vkSj lkafof/kd vkn's kk sa ¼ftue sa lkekU; inksUufr;ksa] Nqfê;ksa vkfn ds lEcUè esa Lo:i dh mifofè;ka Hkh 'kkfey gSa½ ds fgUnh vfèlwpuk,a................................................. 631 izkf/kd`r ikB ¼,sls ikBksa dks NksM+dj tk s Hkkjr Hkkx I—[k.M&3—j{kk ea=ky; }kjk tkjh fd, x, ladYiksa ds jkti= d s [k.M 3 ;k [k.M 4 e sa izdkf'kr vkSj vlkafof/kd vkns'kksa ds lEcU/k esa gksrs g½Sa ........................................................ * vfèlwpuk,a................................................. 1 Hkkx II—[k.M&4—j{kk ea=ky; }kjk tkjh fd, x, lkafof/kd Hkkx I—[k.M&4—j{kk ea=ky; }kjk tkjh dh xbZ ljdkjh fu;e vkSj vkns'k........................................ * vf/kdkfj;ksa dh fu;qfDr;ksa] inksUufr;ksa] Hkkx III—[k.M&1—mPp U;k;ky;ksa] fu;a=d vkSj Nqfê;ksa vkfn ds lEcU/k esa vfèlwpuk,a...... 2563 egkys[kkijh{kd] la?k yksd lsok vk;ksx] Hkkx II—[k.M&1—vf/kfu;e] v/;kns'k vkSj fofu;e.............. ¹ jsy foHkkx vkSj Hkkjr ljdkj ls lEc) Hkkx II—[k.M&1d—vf/kfu;eksa] v/;kns'kksa vkSj fofu;eksa vkSj v/khuLFk dk;kZy;ksa }kjk tkjh dh xbZ dk fgUnh Hkk"kk esa izkf/kd`r ikB.................. ¹ vfèlwpuk,a................................................. 2287 Hkkx II—[k.M&2—fo/ks;d rFkk fo/ks;dksa ij izoj lfefr;ksa Hkkx III—[k.M&2—isVsaV dk;kZy; }kjk tkjh dh xbZ isVsUVksa vkSj ds fcy rFkk fjiksVZ...................................... ¹ fMtkbuka s l s lEcfU/kr vf/klwpuk,a vkSj ukfsVl ¹ Hkkx II—[k.M&3—mi [k.M ¼i½—Hkkjr ljdkj ds ea=ky;ksa Hkkx III—[k.M&3—eq[; vk;qDrksa ds izkf/kdkj ds v/khu ¼j{kk ea=ky; dks NksM+dj½ vkSj dsUnzh; vFkok }kjk tkjh dh xbZ vfèlwpuk,a........ ¹ ikzf/kdj.kk sa ¼l?ak 'kkflr {k=s ka s d s iz'kkluk sa dks Hkkx III—[k.M&4—fofo/k vf/klwpuk,a ftuesa lkafof/kd fudk;ksa NksM+dj½ }kjk tkjh fd, x, lkekU; lkfaofèd }kjk tkjh dh xbZ vf/klwpuk,a] vkns'k] foKkiu fu;e ¼ftuea s lkekU; Lo:i ds vkns'k vkSj vkSj uksfVl 'kkfey gSa.................................. 5 mifof/k;k a vkfn Hkh 'kkfey gaS½. .................. ¹ Hkkx IV—xSj&ljdkjh O;fDr;ksa vkSj xSj&ljdkjh fudk;ksa }kjk Hkkx II—[k.M&3—mi [k.M ¼ii½—Hkkjr ljdkj ds ea=ky;ksasa tkjh fd, x, foKkiu vkSj uksfVl............. 2639 ¼j{kk ea=ky; dks NksM+dj½ vkSj dsUnzh; Hkkx V—vaxzsth vkSj fgUnh nksuksa esa tUe vkSj e`R;q ds vkadM+ksa izkf/kdj.kksa ¼la?k 'kkflr {ks=ksa ds iz'kkluksa dks dks n'kkZus okyk lEiwjd.............................. ¹ ¹vkadM+s izkIr ugha gq,A 1-131 GI/2024 (465)466 THE GAZETTE OF INDIA, JULY 6, 2024 (ASADHA 15, 1946) [PART I—SEC. 1 CONTENTS Page Page No. No. PART I—SECTION 1—Notifications relating to Non- (other than the Ministry of Defence) and by Statutory Rules, Regulations, Orders and the Central Authorities (other than the Resolutions issued by the Ministries of Administration of Union Territories) .... * the Government of India (other than the PART II—SECTION 3—SUB-SECTION (iii)—Authoritative Ministry of Defence) and by the Supreme texts in Hindi (other than such texts, Court ..................................................... 465 published in Section 3 or Section 4 of the PART I—SECTION 2—Notifications regarding Gazette of India) of General Statutory Rules Appointments, Promotions, Leave etc. of & Statutory Orders (including Bye-laws of Government Officers issued by the a general character) issued by the Ministries Ministries of the Government of India of the Government of India (including the (other than the Ministry of Defence) and Ministry of Defence) and by Central by the Supreme Court............................. 631 Authorities (other than Administration of PART I—SECTION 3—Notifications relating to Union Territories)................................... * Resolutions and Non-Statutory Orders PART II—SECTION 4—Statutory Rules and Orders issued by the Ministry of Defence........... 1 issued by the Ministry of Defence.......... * PART I—SECTION 4—Notifications regarding PART III—SECTION 1—Notifications issued by the High Appointments, Promotions, Leave etc. of Courts, the Comptroller and Auditor General, Government Officers issued by the Union Public Service Commission, the Ministry of Defence............................... 2563 Indian Government Railways and by PART II—SECTION 1—Acts, Ordinances and Attached and Subordinate Offices of the Regulations.................................................... * Government of India............................... 2287 PART II—SECTION 1A—Authoritative texts in Hindi language, of Acts, Ordinances and PART III—SECTION 2—Notifications and Notices issued by the Patent Office, relating to Patents Regulations............................................ * PART II—SECTION 2—Bills and Reports of the Select and Designs.......................................... * Committee on Bills.................................. * PART III—SECTION 3—Notifications issued by or under PART II—SECTION 3—SUB-SECTION (i)—General the authority of Chief Commissioners...... * Statutory Rules (including Orders, Bye- PART III—SECTION 4—Miscellaneous Notifications laws, etc. of general character) issued by the including Notifications, Orders, Ministry of the Government of India (other Advertisements and Notices issued by than the Ministry of Defence) and by the Statutory Bodies .................................... 5 Central Authorities (other than the PART IV—Advertisements and Notices issued by Private Administration of Union Territories)........ * Individuals and Private Bodies................ 2639 PART II—SECTION 3—SUB-SECTION (ii)—Statutory Orders and Notifications issued by the PART V—Supplement showing Statistics of Births and Ministries of the Government of India Deaths etc. both in English and Hindi ..... * *Folios not received.Hkkx I—[k.M 1] Hkkjr dk jkti=] tqykbZ 6] 2024 ¼vk"kk<+ 15] 1946½ 467 Hkkx [k.M 1 I— [PART I—SECTION 1] [¼j{kk ea=ky; dks NksM+dj½ Hkkjr ljdkj ds ea=ky;ksa vkSj mPpre U;k;ky; }kjk tkjh dh xbZ fofèrj fu;eksa] fofu;eksa] vkns'kksa rFkk ladYiksa ls lacaf/kr vf/klwpuk,a] [Notifications relating to Non-Statutory Rules, Regulations, Orders and Resolutions issued by the Ministries of the Government of India (other than the Ministry of Defence) and by the Supreme Court] —————— वित्त मत्रं ालय (आर्थिक कायि विभाग) नई दिल्ली, दिनांक 3 जलु ाई 2024 संकल्प संख्या 5(3)-बी(पी.डी.)/2023—आम जानकारी के वलए यह घोवित दकया जाता ह ैदक िि ि 2024-2025 के िौरान सामान्य भविष्य वनवि तथा उसी प्रकार की अन्य वनवियों के अवभिाताओं की कुल जमा रकमों पर िी जान ेिाली ब्याज िर 1 जलु ाई, 2024 से 30 वसतंबर, 2024 तक 7.1% (सात िशमलि एक प्रवतशत) होगी। यह िर 1 जुलाई, 2024 से लाग ूहोगी। सबं ंवित वनवियां वनम्नवलवित हैं:— 1. सामान्य भविष्य वनवि (केंद्रीय सिे ाएं)। 2. अंशिायी भविष्य वनवि (भारत)। 3. अविल भारतीय सेिा भविष्य वनवि। 4. राज्य रेलिे भविष्य वनवि। 5. सामान्य भविष्य वनवि (रक्षा सेिाएं)। 6. भारतीय आयुि विभाग भविष्य वनवि। 7. भारतीय आयुि कारिाना कामगार भविष्य वनवि। 8. भारतीय नौसेना गोिी कामगार भविष्य वनवि। 9. रक्षा सेिा अविकारी भविष्य वनवि। 10. सशस्त्र सने ा कार्मिक भविष्य वनवि। 2. आिशे दिया जाता है दक यह संकल्प भारत के राजपत्र म ेंप्रकावशत दकया जाए। आशीि िच्छानी अपर सविि ——————468 THE GAZETTE OF INDIA, JULY 6, 2024 (ASADHA 15, 1946) [PART I—Sec.1 MINISTRY OF FINANCE (DEPARTMENT OF ECONOMIC AFFAIRS) New Delhi, the 3 July 2024 RESOLUTION No. 5(3)-B(PD)/2023—It is announced for general information that during the year 2024-2025, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.1% (Seven point one percent) w.e.f. 1st July, 2024 to 30th September, 2024. This rate will be in force w.e.f. 1 July, 2024. The funds concerned are:— 1. The General Provident Fund (Central Services). 2. The Contributory Provident Fund (India). 3. The All India Services Provident Fund. 4. The State Railway Provident Fund. 5. The General Provident Fund (Defence Services). 6. The Indian Ordnance Department Provident Fund. 7. The Indian Ordnance Factories Workmen’s Provident Fund. 8. The Indian Naval Dockyard Workmen’s Provident Fund. 9. The Defence Services Officers Provident Fund. 10. The Armed Forces Personnel Provident Fund. 2. Ordered that the Resolution be published in Gazette of India. ASHISH VACHHANI Additional Secretary egkizca/kd] Hkkjr ljdkj eqnz.kky;] feUVks jksM] ubZ fnYyh&110002 }kjk viyksM ,oa izdk'ku fu;a=d] fnYyh&110054 }kjk bZ&izdkf'kr+ UPLOADED BY THE GENERAL MANAGER, GOVERNMENT OF INDIA PRESS, MINTO ROAD, NEW DELHI-110002 AND E-PUBLISHED BY THE CONTROLLER OF PUBLICATIONS, DELHI-110054

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