The Sixth Pay Commission on Monday submitted its report to the government presumably recommending a 40 per cent hike in salary for the central government employees. The commission, headed by Justice B N Srikrishna, submitted its report to Finance Minister P Chidambaram on Monday morning.
Railway Minister Lalu Prasad has asked PM Manmohan Singh to review the sixth pay commission report. He said recommendations in the report would promote disparities among the different sections of government employees. The review should be made with regard to the Railways, as there was a lot of unrest among the rail employees and they were threatening to go on strike. A representative of the Railways -- the Finance Commissioner or Member Secretary -- would be on the committee.
A National Commission order held that the buyer was the borrower and so the bank was entitled to demand the EMI payments from him.
State governments want the Centre to direct the 14th Finance Commission to compensate states for implementing pay scales, to be recommended by the pay panel.
India Inc on said the Seventh Pay Commission set up today for central government employees is likely to lead to additional burden on the exchequer and increase inflation by pushing demand.
Stock exchanges have sought clarification on violation of disclosure norms by Adani Group entities regarding the alleged bribery case in the US and subsequent cancellation of Kenya's airport expansion deal. In its response to the case in the US, Adani Group firms on Thursday had said "there are no allegations made against the company". On clarification with regard to Kenya cancelling airport expansion and energy deals following the US bribery and fraud indictments, the group is yet to respond to the bourses.
Pakistani troops violated the ceasefire along the Line of Control (LoC) in Poonch district of Jammu and Kashmir, prompting a strong response from the Indian Army. The incident, which occurred in the Krishna Ghati sector, comes a day after two Indian Army personnel were killed in an IED blast near the LoC. The ceasefire violation is the fourth cross-border incident in five days and the first this year.
Indian economy grew 7.9 per cent in the March quarter.
The National Human Rights Commission (NHRC) on Friday said it has asked Manipur government to pay Rs 10 lakh compensation each within four weeks to the next of kin of all the people who died in ethnic clashes since May.
Top carmakers, including Maruti Suzuki India, Hyundai and Honda, are expecting a spike in their sales following the implementation of 7th Pay Commission recommendations.
Prime Minister Narendra Modi arrived in France on a three-day visit during which he will co-chair an AI Action Summit with French President Emmanuel Macron and hold bilateral talks with him. Modi will also be warmly greeted by the Indian community and address the India-France CEO's Forum. The visit will include a visit to the Mazargues War Cemetery and the inauguration of the new Indian Consulate General in Marseille.
Employees and workers will meet on November 27 to protest against the recommendations
Allaying apprehensions among government servants over the Pay Commission recommendations, Prime Minister Manmohan Singh on Monday said he favoured proper remuneration for the civil and defence services. The Pay Commission has recently submitted its report and some apprehensions have been expressed by certain sections of the civil services on parts of the report, he said, addressing senior officers on the Civil Services Day in Delhi.
"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.
'With a very stable technology with limited functionalities, a large network has spanned out.'
A committee headed by Cabinet Secretary BK Chaturvedi has turned down the request for constituting the Sixth Pay Commission to review the salaries and perks of all central government employees.
Do you think the new pay panel proposals will cripple India's economy? Are political compulsions overriding economic sense? Or do you think this is a fair move? Tell us.
This time, five states, including Tamil Nadu, have requested the Centre to delay the pay hikes.
Life insurers shifted their focus to selling high-value policies in October as the transition to new surrender value norms, effective October 1, limited their ability to roll out all products in their portfolio. This led to a 40 per cent year-on-year (Y-o-Y) drop in the number of policies sold in October. Additionally, distributors engaged in a fire sale of policies in September due to uncertainty about the impact of the new norms on their commission structures.
Various constituents of the INDIA bloc condemned Kejriwal's arrest and claimed that the BJP is scared of the outcome of the upcoming Lok Sabha polls and acting out of panic to create problems for the opposition.
Prime Minister Narendra Modi will pay a two-day working visit to the US from February 12 during which he will meet President Donald Trump, the external affairs ministry announced. The visit will give further impetus and direction to India-US bilateral relationship. Prior to his US visit, Modi will be in France from February 10-12 to co-chair the AI Action Summit with French President Emmanuel Macron. He will also visit Cadarache, the site of the International Thermonuclear Experimental Reactor of which India is a partner. During his visit to France from February 10-12, Modi and Macron will also address the India-France CEOs forum. The prime minister and Macron will travel to Marseille where they will inaugurate the Consulate General of India. The leaders will also visit the war cemetery and pay tribute to the sacrifices made by Indian soldiers in World War 1. Modi and Macron will visit Cadarache, the site of the International Thermonuclear Experimental Reactor (ITER). There has been a very close rapport between Trump and Modi, dating back to the US leader's first term. There is a clear convergence of interests between the two countries in several areas, including trade, investment, technology, defense cooperation, counterterrorism, Indo-Pacific security, and people-to-people relations.
'This might prove to be a temporary gain for the BJP, but at a huge cost to the people of Gujarat and democracy in India.'
While still not as drool-worthy as their private sector counterparts, the hike is quite hefty, and across segments
Adani group stocks faced heavy drubbing during the early trade on Thursday, with Adani Energy and Adani Enterprises tumbling 20 per cent, as billionaire Gautam Adani has been charged by US prosecutors over his role in an alleged years-long scheme to pay $250 million bribe to Indian officials in exchange for favourable terms for solar power contracts. The stock of the group's flagship firm Adani Enterprises plunged 20 per cent, Adani Energy Solutions tanked 20 per cent, Adani Green Energy plummeted 19.17 per cent, Adani Total Gas tumbled 18.14 per cent, Adani Power slumped 17.79 per cent, and Adani Ports dived 15 per cent on the BSE.
'What I will say is on the US and India relationship, we believe that it stands on an extremely strong foundation anchored in ties between our people and cooperation across a full range of global issues.'
'The finance minister missed yet another opportunity to simplify the income tax structure in the Budget.' 'This was an opportune moment to get rid of the old tax system entirely and move fully to the new system,' asserts M Govinda Rao, member of the 14th Finance Commission.
Demands include 5-day banking, PF to be calculated on total salary and allowances, not only on basic
This Women's Day Week, we pay tribute to the extraordinary courage, resilience, and leadership of three iconic Indian queens -- Rani Lakshmibai of Jhansi, Rani Chennamma of Kittur, and Maharani Ahilyabai Holkar of Malwa.
Adani Green Energy Ltd, the renewable energy arm of billionaire Gautam Adani's conglomerate, on Thursday scrapped a Rs 600 million bond issue after its promoter was charged in an alleged bribery case in the US. Hours before the US prosecutors charged Gautam Adani and associates with participating in a scheme to pay over Rs 250 million bribe to Indian officials in exchange for favourable terms for solar power contracts, the firm sold a 20-year green bond in the US-investment-grade market.
Civil servants, armed forces and paramilitary personnel will get to rejoice this Independence Day with the government all set to approve the Sixth Pay Commission report in its Cabinet meeting on Thursday.
Uttar Pradesh Chief Minister Mayawati on Monday announced the state would revise the salary of an estimated 721,000 employees on the lines of the pay panel recommendations. The state commission, headed by Jagmohan Lal Bajaj, will submit a report on pay revision by December. The additional financial burden is estimated at Rs 5,189 crore (Rs 51.89 billion) per annum excluding arrears payment, which is pegged at Rs 14,775 crore (Rs 147.75 billion).
Boxing great M C Mary Kom, who is also the chairperson of IOA's athletes' commission, says she has stopped giving suggestions to the National Olympic Committee as it doesn't pay attention to them.
It also promised financial assistance of Rs 24,000 annually to all dependent widows and single mothers, two free LPG cylinders to all the beneficiaries of the PM Ujjwala Yojana and 24x7 power supply.
The National Commission ruled that the insurance policy is deemed to be automatically transferred to the purchaser when the vehicle is registered in their name.
Punjab has over 400,000 employees and pensioners and about 125,000 staff members in its corporations and boards.
'Additionally, the significant employment multiplier will boost direct and indirect jobs of up to 1.1 million.'
The Union Cabinet on Friday increased the dearness allowance and dearness relief by 4 per cent to 42 per cent to benefit 47.58 lakh central government employees and 69.76 lakh pensioners. The combined impact on the exchequer on account of both Dearness Allowance and Dearness Relief will be Rs 12,815.60 crore per annum, I&B Minister Anurag Thakur told reporters after the meeting of Cabinet Committee on Economic Affairs (CCEA).
Adani group founder and chairman Gautam Adani and his nephew Sagar have been summoned to explain their stand on the US Securities and Exchange Commission (SEC) allegation of paying $265 million (Rs 2,200 crore) in bribes to secure lucrative solar power contracts. Summons have been sent to Adani's Shantivan Farm residence in Ahmedabad and his nephew Sagar's Bodakdev residence in the same city for a reply to SEC within 21 days.
Upon implementation of the 7th Pay Commission the expected yearly burden on the central exchequer will be more than Rs 100,000 crore. Central government employees will get on an average a 24 per cent pay hike. Still, the unions aren't happy.
A bench of Justices PS Narasimha and Pankaj Mithal said when reasonable care, expected of the medical professional, was extended or rendered to the patient unless contrary was proved, it would not be a case for actionable negligence.
