''Even without major reforms, with a business as usual scenario, and with current inflation trends, we should be clocking around 11 to 12 per cent nominal growth.' 'That is not happening and is a source of worry,' Rathin Roy tells Arup Roychoudhury.
'I want to ask Modiji is the support price announced by him good enough to make a farmer's sons to start farming in their villages?' 'Can he swear by Bharat Mata and say that is true?'
Both the forces were of the view that inclusion of its personnel who have joined the service on or after January 1, 2004 in the new contributory pension scheme launched by the government was unfair.
By suggesting a substantial hike for government employees, the 6th Pay Commission, like many before it, has indeed been an honest attempt at destabilising the nation. And for that reason the nation need to consign it to the dustbin.
While the Cabinet secretary, who can be equated to a CEO of a company, has been recommended a Rs 90,000 salary per month (over Rs 1 crore or Rs 10 million per annum), all others, despite the hefty hikes recommended will still earn less than Rs 1 crore a year.
The revenue budget of the defence services is likely to go up 3.2 times in the next Budget if the recommendations of the 6th Pay Commission are accepted. On an average, the services had recommended a salary hike of up to 4.5 times. They had also sought a five-and-a-half times increase in counter-insurgency allowances. They had expected an increase of 3.8 times. The increase in salaries that has been granted is 3.2 times. Allowances, by and large, have been doubled.
In a significant gesture to the men in battle fatigue, the Sixth Pay Commission on Monday elevated the three defence services chiefs to be among the highest paid public servicemen drawing a salary of Rs 90,000 per month equivalent to the cabinet secretary. The 3 chiefs were drawing a fixed monthly pay of Rs 30,000 per month. The Commission elevated the rank of the Director General Armed Forces Medical services to the Secretary, Government of India, with a salary of Rs 80,000.
The Sixth Pay Commission on Monday submitted its report to the government, presumably recommending a 40 per cent hike in salary for central government employees.
The Sixth Pay Commission is likely to significantly raise basic salaries for an estimated 4.5 million central government employees. The recommendations are expected to be submitted in January, a few months ahead of schedule, and the award is likely to come into effect from January 2006.
IIM Ahmedabad will provide a performance-linked pay model to the Sixth Pay Commission which has been assigned the task of recommending revised pay scales for central government staff.
It is not that the government has not done anything to change the format of the annual performance appraisal report, but it is hard to tell what difference these will make.
'An expanding army, rising salaries due to the 7th pay commission, and raised pensions due to OROP are consuming money at the cost of badly needed bulletproof jackets, rifles, artillery, submarines, warships and fighter aircraft,' notes Ajai Shukla.
The idle talk at street corners, cafes and public places since May 23 is that the winds of change are blowing across Bengal.
"It is a logical step. The information gathered through annual information returns will now be compared with the tax returns of individuals to see if taxes are paid correctly or not," said a consultant with a leading tax advisory firm.
India will not vacate the Siachen glaciers as Pakistan cannot be trusted and it may occupy the strategic location once it is vacated, Defence Minister Manohar Parrikar said today.
With cash -- the primary medium of exchange -- all but disappearing, it is now unlikely that the expected fillip to demand on account of a good monsoon and proceeds from the Seventh Pay Commission payout will materialise.
The government is likely to present a "run-of-the-mill" budget with an fiscal slippage to 3.7 per cent of the GDP in the next fiscal from an earlier target of 3.5 per cent, a Nomura report says.
Likely to be merged with Union Budget from FY18
RBI is expected to discuss about the impact of GST in its monetary policy.
It is worrisome that salaries are consuming as much expenditure as equipment.
D&N cites positive changes in momentum in certain segments of economy, but says some areas of concern remain
Overall business confidence index is at 6-quarter high: Ficci survey
The RBI said there is an upward bias on inflation projection.
Rajasthan's teachers plan to teach Vasundhara Raje a lesson.
Entry-level employees were the most disappointed.
Union Minister Arun Jaitley while releasing the document said BJP's manifesto is particularly aimed at improving the social infrastructure in Punjab, even as he slammed Congress for its policies which he alleged paved way for militancy in Punjab in 1980s and termed its 2002-2007 tenure in power as "most dishonest and corrupt".
Room for rise of up to 2 percentage points, move to help meet higher expenditure need in FY17
Trade unions on Wednesday opposed divestment in public sector undertakings and hike in foreign direct investment in telecom, insurance and aviation sectors
Over 14 lakh (1.4 million) Indian Railways employees may proceed on indefinite strike in the last week of February next to press for their 10 demands, including the formation of Sixth Pay Commission.
A lot has been written about the impact of the recommendations.
Congress leader Rahul Gandhi on Thursday termed the Lok Sabha elections as a "battle of thoughts", saying while the party stood for empowering the people, the opposition represented only the rich in the country.
A good monsoon could rein in food inflation. Largely good corporate results mean better days are ahead. Nifty may reach record levels, points out Devangshu Datta.
Setting up of the sixth pay commission and its terms of reference are to be finalised by the Union Cabinet when it meets on Thursday.
The government on Wednesday announced that dearness allowance for govt employees has been hiked to 6 per cent.
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