The MSP was introduced to the services recognising their unique service conditions and hardships.
The Cabinet, which met in Jammu under the chairmanship of chief minister Omar Abdullah on Thursday evening, approved the recommendations of the Cabinet Sub Committee on implementation of the 6th Pay Commission, including one that there shall be no lock-in period for withdrawal of arrears deposited to the GP Fund.
The move comes following the implementation of the 7th Pay Commission's recommendations which has created an anomalous situation in which the salary of the President is Rs 1 lakh less than that of the country's top-most bureaucrat, the Cabinet secretary.
In his Budget, Jaitley announced a pay hike for the President to Rs 5 lakh per month, Rs 4 lakh for the VP and Rs 3.5 lakh for governors.
The pay hike has been made effective from January 1, 2016.
Prime Minister Manmohan Singh has approved composition of the 7th Pay Commission, which will revise the salaries of over 50 lakh Central government employees.
The policy review observed that the moderation in inflation, excluding food and fuel, that was witnessed in the first quarter of 2017-18 has "by and large, reversed".
Employees and workers will meet on November 27 to protest against the recommendations
RBI said more monetary transmission to support growth continues to be critical.
Top carmakers, including Maruti Suzuki India, Hyundai and Honda, are expecting a spike in their sales following the implementation of 7th Pay Commission recommendations.
'The fiscal deficit target of 3.9 per cent of GDP seems achievable.'
Highlights of the RBI monetary policy.
'In 2016, we had De-Mon and in 2017, we had GST.' 'The combined impact of these two started showing up in 2019 and 2020.' 'COVID-19 only added insult to injury.'
Railways to have functional autonomy, bear salary burden
The Cabinet on Friday gave mandate to the 7th Pay Commission for revising salaries of over 50 lakh central government employees and remuneration of 30 lakh pensioners.
Inflation target remains 5% for January 2017.
Modi govt faces extra spending burden due to policies like 7th Pay Commission and OROP
In the present times of job uncertainties and layoffs, the lure of bureaucracy is clear.
The DA hike will take effect from July 1.
Government's effective supply-side measures and commendable commitment to fiscal consolidation will have a salutary impact on inflation, says the RBI report.
There was widespread criticism from opposition parties and the military establishment over a letter issued on September 30 which had introduced a slab-based system
While suburban fares remain unchanged, ordinary non-AC, non-suburban fares were increased by 1 paise per km of journey. The Railways also announced a two-paise/km hike in fares of mail/express non-AC trains and four- paise/km hike in the fares of AC classes. The fare hike is also applicable to premium trains such as Shatabdi, Rajdhani and Duronto.
The Congress vice president wrote to Prime Minister Narendra Modi saying he was saddened at the decisions of the government taken in the last few weeks
The Centre on Tuesday said it cannot give blanket assurance to states to help them come out of financial problems following implementation of the 6th Pay Commission awards by them.
There shall be two dates for grant of increment - January 1 and July 1 every year - instead of the existing July 1 only.
Mayank Gupta, of BodhiSutra, discusses 10 career streams that will throw up opportunities in the times to come.
Though the government obn Thursday in principle accepted the Services' demand for restoring 70 per cent 'extant pensionary weightage' to jawans on the basis of their last drawn pay, the Armed Forces are cut up with the finance ministry over the rejection of their three other demands concerning officers. The CPC had recommended that the jawans be given 50 per cent 'pensionary weightage' and provided an option of lateral entry into paramilitary and central police forces.
"I should think that we will have a final answer within about two weeks time or so," Mehta told reporters here while replying to a question on when the committee headed by External Affairs Minister Pranab Mukherjee was expected to submit its report. "But they (the Mukherjee committee) are in the process of finding out what are the issues involved. And I'm sure they will take the right decision pretty quickly," he said.
The armed forces had decided not to implement the revised pay scales from October 1.
Ahead of the festival season, the government on Tuesday decided to release the second and last installment of salary arrears to government servants numbering about 50 lakh (5 million) which will put a burden of over Rs 17,500 crore (Rs 175 billion) on the exchequer.
"The 6th Pay Commission disbursement led to an increase in our working expenses," Chairman of the Railway Board S S Khurana said. He also said the Railways had saved Rs 655 crore. "Our cash surplus before the dividend was Rs 17,399 crore and operating ratio was 90.4 per cent," he said.
In a major New year bonanza for the armed forces, the Prime Minister's Office has informed the defence ministry that the armed forces personnel would henceforth have a separate pay commission, which is delinked from the civilian pay panel.
Cabinet Secretary and Secretaries to be kept in distinct pay scales at Rs 90,000 and Rs 80,000 a month, respectively.
'Political parties are following the Divide and Rule policy to break the unity of farmers.'
Two Central Board of Excise and Customs staffers, Raman and Suresh, based in Trichy, Tamil Nadu, have set up a Web site based on the 6th Pay Commission recommendations and dedicated exclusively to government employees.
The Union cabinet has given its nod for the revision of salary and allowances of lieutenant governors of Union Territories and it will be on a par with that of the secretary to the government of India, an official statement said.
Launching an attack on the BJP, Railway Minister Lalu Prasad on Friday said the increase in prices was the "handiwork" of traders sponsored by the saffron party.Prasad said there has been a sudden increase in prices after the submission of the report of the 6th Pay Commission and this should be investigated.
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.
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.
RBI's likely focus will shift back towards the resolution of non-performing loans in the banking system for reviving credit demand
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