[ad_1]
Share Market Investment: Share market gives everyone opportunities to earn money that beats inflation. This is the reason why people of different professions also invest money in the stock market and try to create an alternative source of income. Many IAS, IPS and IFS officers are also included in such people. Now the central government has issued a new order for such officers. These officers who invest money in the stock market will now have to follow the new guidelines of the government.
Information to be given in these cases
According to a news agency PTI, the Union Ministry of Personnel has issued a new order in this regard. According to the order, if the officers of Indian Administrative Service, Indian Police Service and Indian Forest Service will have to give information about the trading done in the stock market to the government. However, this provision is for such officers, who transact more than their 6 months basic salary during any one year.
This is the order of Ministry of Personnel
The order, sent to the secretaries of all ministries of the central government, said, with the objective of enabling the administrative authorities to monitor transactions made in any stock, share or other investment in the case of members of the All India Services. It has been decided that if the value of transactions made in any stock, share or other investment during a calendar year exceeds six months’ basic government payment, the same shall be reported to the concerned authorities in the proforma specified along with the order. has to be given every year.
Such transactions will be considered as betting
The ministry had issued this order on 20 March. Quoting Rule 14(1) of the Conduct Rules, the order states that no member shall speculate in respect of any stock, share or other investment, but this provision is not applicable to such investments made on the spot. Which are done through stock brokers or other persons licensed under the relevant rules. It has also been clarified in the order that if money is repeatedly invested in any one share, stock or investment, then it will be considered speculative.
They are treated as movable property
The order further states that as per Rule 16 of the All India Services (Conduct) Rules 1968, shares, securities and debentures etc. have been treated as movable assets. In such a situation, if an officer makes total transactions in shares, securities and debentures etc., more than two months’ basic salary, then it will be necessary to provide information in this case also.
read this also: Due to these 5 families, inflation hit the poor! Former deputy-governor of RBI said – breaking the solution
[ad_2]
Source link