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).
Cabinet Secretary and Secretaries to be kept in distinct pay scales at Rs 90,000 and Rs 80,000 a month, respectively.
The government on Monday made it clear that it does not propose to tinker with the existing mechanism of setting up Pay Commission for revision of wages for central government employees
The 7th Pay Commission has recommended more than doubling the 'Military Service Pay' to defence personnel, and suggested that Short Service Commissioned Officers should be allowed to exit the Armed Forces at any point in time between 7 and 10 years of service.
In its highest ever reduction in seller fees, ecommerce giant Amazon India has introduced zero referral charges on over 12 million products on its platform that are priced below Rs 300. The move is aimed at boosting seller growth on Amazon.in and supporting hundreds of thousands small businesses across the country.
Government employees in Bangladesh locked down the main gate of the Bangladesh Secretariat in Dhaka, protesting a new service law that allows for easier dismissal of officials for misconduct. The protest, which lasted for about half an hour, disrupted government operations. The employees also threatened to continue their protests until the ordinance was scrapped. Meanwhile, the protest by employees of the Dhaka South City Corporation, demanding the installation of BNP leader Ishraque Hossain as its mayor, has brought administrative services to a halt. These protests, coupled with concerns raised by the business community and the military, highlight a growing sense of unease in Bangladesh over the policies of the interim government.
The setting up of the Commission, whose recommendations will benefit about 50 lakh (5 million) central government employees, including those in defence and railways, and about 30 lakh (3 million) pensioners, comes ahead of the Assembly elections in 5 states in November and the general elections next year.
The Indian Police Service Association in Jharkhand wrote to Prime Minister Manmohan Singh to bring to his notice 'injustice' towards the IPS in the recommendations of the sixth Pay Commission. They feel the commission has not only maintained, but increased the IAS' 'edge' over the IPS.
Though seven opportunities have been granted to the states, it appears that full compliance has not been affected and several states are in default, it said.
Government employees enjoy a pay revision every five years, unlike once in every 10 years for central government employees, and draw relatively higher salary.
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.
The Commission also suggested changes to the phrasing of Section 124A and added words "a tendency to incite violence or cause public disorder".
'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.
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.
The amount constitutes 45 per cent of the railways' total wage bill.
Mr Jaitley should devise methods to attract better talents at the higher level.
'Presumption of innocence must guide all formal actions, but transparency must not be mistaken for pre-judgment.' 'The cruel irony, however, is that Justice Varma is a fine judge who enjoys a reputation for writing well-reasoned judgments.'
Employees and workers will meet on November 27 to protest against the recommendations
This time, five states, including Tamil Nadu, have requested the Centre to delay the pay hikes.
Punjab has over 400,000 employees and pensioners and about 125,000 staff members in its corporations and boards.
On its 177th anniversary, Utkarsh Mishra explores the history and relevance of The Communist Manifesto.
A confrontation is brewing up between the Jammu and Kashmir government and its over four lakh employees over the implementation of the sixth pay commission recommendations.
The State Commission concluded the insurer could not take advantage of a typographical error on the bank's part to repudiate a legitimate claim, points out Jehangir B Gai.
The Commission concluded that the bank officials had evidently been negligent in failing to compare the signature prior to making payment, notes Jehangir B Gai.
'Spend, but create assets, spend but make sure that people benefit from it.' 'This has been a beautiful guiding principle. And I think as a finance minister I owe so much to the prime minister for keeping this path clear before us.'
Participants are keenly awaiting the rollovers to the next series ahead of the expiry of June F&O.
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.
Trade unions' had demanded 8.9 per cent interest rate.
The Commission will now have time until December 31 to submit its report.
Why did the political system in the country react to these two decisions of the Modi government in a diametrically opposite manner? asks A K Bhattacharya.
The minimum wage of Rs 80, which is applicable to central public sector undertakings, will see a 30 to 40 per cent jump in a single year once the changes are notified. The decision to hike the minimum wage level was taken by the Central Advisory Board at its meeting chaired by Minister for Labour and Employment Oscar Fernandes last week. The National Floor Level Minimum Wage of Rs 80 is likely to cross Rs 100 once the notification is issued.
The "bumper" 40 per cent increase followed a number of sweeping reforms intended to transform the "bloated People's Liberation Army, into a more modern, nimble fighting force".
It is advisable to file your ITR right away and not rely on potential extensions.
Keep revising the sum insured at the time of renewal to keep it in line with inflation.
Is there a conflict of interest in civil servants having a decisive say on the recommendations made by a Pay Commission or is it time for a new review mechanism, asks A K Bhattacharya.
Power Grid Corporation of India (PGCIL) was one of the top Sensex gainers in trade on Monday, ending with gains of nearly 9 per cent. The stock has gained about 42 per cent year-to-date. For the March quarter, the company reported a revenue of Rs 12,000 crore, which was down 3 per cent year-on-year (Y-o-Y) but up 4 per cent quarter-on-quarter (Q-o-Q). The drop was on account of one-time arrears related to the Nagapattinam tariff bid competitive bidding (TBCB) project in Q4 FY23.
The National Commission concluded that the claim had been rightly rejected on grounds of misrepresentation in the proposal form and breach of duty to maintain utmost good faith while applying for insurance coverage.
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.
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