Budget 2024: Debate over the NPS sharpened last year after Congress-ruled states such as Rajasthan, Chhattisgarh and Himachal Pradesh decided to go back to the old defined benefit system, which offered government employees 50% of their last-drawn salary as monthly pension. In contrast, the NPS is a defined contribution scheme through which an employee accumulates a corpus for retirement.
Brent slides over 3%, hits lowest level since 2021
Oil prices plummeted to their lowest levels since 2021 due to new U.S. tariffs announced by President Trump and increased output by OPEC+. Brent and