As many as 8.5 lakh bank employees are set to benefit from the wage hike, which will be effective from November 2017.
His remarks came on a day when Chief Minister Charanjit Singh Channi announced slashing of the power tariff by Rs 3 per unit for the domestic sector and increasing the dearness allowance for government employees.
Windfall gains are easier to dream about than manage. Here is some advice on using the money:
The Union Cabinet has approved eight per cent hike in dearness allowance (DA) for central government employees with effect from January 1.
Their implementation is expected to create investment owing to improving ease of doing business as well as initiating pro-worker measures.
The Centre is expected to increase the dearness allowance by 10% to 100% by the end of February.
People like Manmohan Singh and P Chidambaram, who as finance minister had fully supported the NPS, refuse to exercise their moral and political influence to try and stop Ashok Gehlot and others hell-bent on wrecking the states' finances, notes Virendra Kapoor.
The four labour codes are unlikely to be implemented this fiscal in view of slow progress on the drafting of rules by the states and also for political reasons like elections in Uttar Pradesh, a source said. The implementation of these laws assumes significance because once these are implemented there would be reduction in take-home pay of employees and firms have to bear higher provident fund liability. "The ministry of labour is ready with the rules under the four labour codes. But the states have been slow in drafting and finalising those under new codes.
Rescue workers pulled out all 41 workers trapped in Uttarakhand's Silkyara tunnel in a multi-agency rescue operation that hovered between hope and despair for 16 days.
The Union Cabinet has cleared four per cent dearness allowance to government employees, official sources said on Monday.
'Kindly have us airlifted at the earliest. We are in a very bad situation here.'
The decision to provide higher DA to employees will cost the exchequer an additional Rs 9,303.2 crore (Rs 93.03 billion) per annum, an official spokesperson said after a meeting of the Union Cabinet, where it was decided to raise the allowance.
As Melania Trump arrives in Ahmedabad, Sheela Bhatt offers the First Lady Of The United States a primer on one of India's oldest, and historic, cities.
Remember, pension from EPS will be taxable at slab rate, reducing the post-tax income for people who remain in the higher tax brackets after retirement.
Maharashtra Government on Thursday suspended former Mumbai police commissioner Param Bir Singh and initiated disciplinary proceedings against him over "certain irregularities and lapses", an official said.
'But he was very quick and did a very stylish adab.' 'Of course, I didn't expect him to hug.'
In a touching letter, Jhulan Goswami expresses deep gratitude to Diana Edulji, set to be inducted into the ICC Hall of Fame.
For the time being, digital lending remains a grey area, notes Tamal Bandyopadhyay.
'It is Bajrang Punia's personal decision to return the Padma Shri. The WFI polls were held in fair and democratic manner. We will still try to persuade Bajrang to reverse his decision to return Padma Shri.'
The decision, taken by the Cabinet at a meeting chaired by Prime Minister Manmohan Singh on Thursday, was based on recommendations given by the Second Pay Revision Committee. The package would include revision in Dearness Allowance and other allowances, besides performance related incentives, Minister of State in Prime Minister's Office Prithviraj Chavan told reporters.
The proposed hike is in accordance with the accepted formula based on the recommendations of the 6th Pay Commission
The hike would be effective from January 1, 2013 and the employees and pensioners will be entitled to arrears.
Paying attention to your remuneration package will lessen your tax outgo.
rediffGURU Kanchan Rai, founder Let Us Talk, offers advice on how to navigate problems in a relationship.
The Union government will take a bit longer to introduce the much-awaited labour codes even as the majority of states and Union Territories (UTs) have framed rules on them. There were speculations that these would be introduced from July 1. While 30 states and UTs have framed rules on the code on wages, 25 of them have done so on industrial relations. Of the two remaining codes, 24 states and UTs have framed rules on social security and 23 on occupational safety, health, and working conditions (OSH), sources said.
After stiff resistance from its employees against a steep pay cut, National Aviation Company of India Ltd), which runs Air India, has come out with a fresh proposal to impose a 15-17 per cent cut on the total salary package.The total package includes basic salary, dearness allowance, house rent allowance and payments made under the productivity-linked incentive scheme . The cut, however, would not be applicable on 4000 employees.
The demand for raising retirement age has been a long-pending one.
Babar Azam does not believe that the outcome of the much-anticipated India-Pakistan clash in World Cup on Saturday will have an impact on his captaincy.
Addressing the nation on the 70th Independence Day from the Red Fort, the prime minister had announced a 20 per cent hike in the pension for freedom fighters.
The Orissa government has raised the minimum wages for the domestic helps. The minimum wage of such workers has been fixed at the same level as for the unskilled workers. So a domestic help will be entitled to get a basic wage of Rs 2,340 per month.
Apart from the 10 persons arrested so far, those found guilty of negligence in the Special Investigation Team (SIT) report should also be arrested and punished, said a man who lost his 10-year-old daughter in the tragedy.
Ahead of the festival season, the government on Thursday announced a 7 per cent hike in the dearness allowance of its employees which will give them some relief from near double digit inflation.
PSB branches will work fulltime on the 1st and 3rd Saturday.
Despite the ongoing rift in the Punjab Congress, party leader Harish Rawat on Tuesday said that all is well in the state and expressed confidence in its victory in the forthcoming assembly polls.
'As I watched Mammootty 'try out' Mathew Devassy, I could hear from my theatre seat the ready-made appreciation of the liberal press, their applause for the great actor having flirted with queerness on screen.' 'But it is a flirtation and nothing more, for I could not detect in Devassy any hint of love, not for his homosexual lover, not for his wife,,' observes Sreehari Nair.
Government employees' pay packets will get fatter, with the Cabinet on Thursday approving three per cent hike in dearness allowance.
The central government babus have been given a big hike in TA/DA (travel allowance/dearness allowance) as part of implementation of the Sixth Pay Commission, but it may be only illusory as ministries and departments will get no additional funds to foot their bills.
With organisations like the Bharatiya Mazdoor Sangh, which is a front of the Rashtriya Swayamsevak Sangh, telling Finance Minister Nirmala Sitharaman they want OPS back, the government is in a bind, report Shiva Rajora and Aditi Phadnis.
The employees, who will avail the VRS, would get an ex-gratia amount of 60 days salary (basic + dearness allowance) for each completed year of service, or salary for the number of months left in the service, whichever is less.
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