In his last Budget, Suresh Prabhu, set an ambitious target for capital expenditure.
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.
A large number of ex-servicemen, including General rank officers, returned their medals on Sunday, to the government protesting the non-implementation of their demand for "one rank, one pension" principle.
Government gives 60 institutes freedom to fix courses, collaborate with foreign peers.
Rising rural distress due to back-to-back droughts have put pressure on FM to spend more on social schemes; no change in tax slabs likely
The country's GDP grew at the fastest pace in seven quarters at 7.7 per cent in the January-March period, retaining the fastest growing major economy tag on robust performance by manufacturing and service sectors as well as good farm output.
Around 450 members from IIT-M, besides the other seven IITs in the country, are resorting to the black badge protest. The association said on Wednesday that the present IIT pay-scales were neither commensurate with the required qualifications nor enough to attract fresh talent,even to well established IITs and that the faculty are 'frustrated with the inordinate delay' in implementing the Sixth Pay Commission recommendations.
The Delhi high court on Friday directed the city government to bring into effect the recommendations of a panel suggesting over 200 private unaided schools to return excess fees to parents with interest.
The judges' committee recommended a pay hike of Rs 2.8 lakh for SC judges, Rs 2.5 lakh for HC judges.
Mayank Gupta, of BodhiSutra, discusses 10 career streams that will throw up opportunities in the times to come.
The government will mop up Rs 1,400 crore (Rs 14 billion) this fiscal by taxing the second instalment of arrears due to central government employees, who were awarded increased salaries by the Sixth Pay Commission.
Uttarakhand Chief Minister BC Khanduri speaks about containing dissidence in state BJP ranks, Sixth Pay Commission and his party's chances in the forthcoming general elections.
DA was last revised in September last year from 100 per cent of basic pay to 107 per cent.
Central government employees should not be allowed to earn annual increments if they fail to meet performance criteria.
Finance Minister Arun Jaitley on Friday tabled the pre-Budget Economic Survey in the Lok Sabha.
Replying to a Calling Attention Motion, labour minister Oscar Fernandes, however, said there will be no amendment to the Employees' Pension Scheme 1995 in the wake of Sixth Central Pay Commission as the two issues are not related. He said two committees, including one headed by a special secretary, have been set up to review the EPF scheme and ensure that it brings better benefits to the employees.
After the top brass of the Armed Forces, it now appears to be the turn of scientists of the defence and nuclear establishments to express dissatisfaction over the recommendations of the Sixth Central Pay Commission.
The implementation of Phase II of the report that recommended creation of the additional posts will ensure quicker promotions to army, navy and air force officers. The decision is also aimed at stemming the high rate of attrition among middle-rung officers from majors to colonels and their equivalents in the three services, which already face a shortage of about 13,000 officers, mostly in the middle-rung. The move will cost the exchequer Rs 8.44 crore annually.
With companies facing severe credit crunch, a top body of British employers on Monday asked for freezing of the national minimum wage until the economy recovers from the financial downturn.
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.
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).
The apex body for farmers' organisations has stated in a representation to the government that even big farmers were worse off than the lowest-paid government employees. It has charged the government with discrimination against farmers vis--vis workers from other sectors.
Faculty of top academic institutions like the Indian Institutes of Technology (IITs), the Indian Institutes of Management (IIMs), and central universities say the Sixth Pay Commission's recommendations do not have a direct bearing on their compensation levels. The new pay structure of assistant professors, associate professors and professors will be finalised by an internal committee of the Ministry of Human Resource Development, which would take a couple of months at least.
Expecting brickbats from Babus for recommending only about 40 per cent hike in pay, the Sixth Pay Commission chairman Justice B N Srikrishna on Monday said his recommendations would displease everbody.
However, the details will be worked out after the Fitment committee submits its report to the government. It also seeks to continue the thrust of the original budget for the development of agriculture, education, infrastructure in the state. The first supplementary presented by the Orissa finance minister, Prafulla Chandra Ghadai in the state Assembly amid slogan shouting by the BJP members, proposes an outlay of Rs 7587.69 crore (Rs 75.87 billion) for 2008-09.
While IIM-A hiked its fee in the last academic session, IIM-K recently announced to increase its fee up to Rs 900,000. The move to hike fee is being made following the Centre's decision to stop bloc grant to the institute.
"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.
The Rs 10,807-crore (Rs 108.07 billion) budget for implementation of Sixth Pay Commission recommendations and to fund various ongoing projects was passed by a voice vote. Some members were not satisfied with the budget. The BJD members walked out alleging that Orissa had been ignored.
For the first time in a decade, the BSE Midcap and Smallcap indices outperformed the benchmark index for a consecutive year
The welfare of the common man continues to be the top priority. The minister has reduced fares for the fourth successive year.
The government on Wednesday said it would tax only 40 per cent of salary arrears to be paid to central government employees in the current fiscal on implementation of Sixth Pay Commission recommendations.
The Centre will set up a high-level committee of secretaries for processing the Sixth Pay Commission's report for its employees. The Empowered Committee of Secretaries will be headed by Cabinet Secretary K M Chandrasekhar, Science and Technology Minister Kapil Sibal said after the Cabinet meeting.
After army personnel and IPS officers, other government employees have now voiced their grievances against the Sixth Pay Commission report, saying the recommendations do not correspond to the increased cost of living but will increase inequality.
India's chief statistician Pronab Sen has said there is no need to construct a separate price index for government employees as suggested by the Sixth Pay Commission.
In an obvious bid to be one up on her latest number one political foe, the Congress, Uttar Pradesh Chief Minister Mayawati on Monday declared in the State Assembly that her government would promptly implement the recommendations of the Sixth Pay Commission.
Pensioners to get 40% raise, more gains for octogenarians. The Union Cabinet has accepted this proposal, along with other recommendations of the Sixth Pay Commission on pension benefits for the estimated 3.84 million central government pensioners at a meeting here on Thursday.
The recommendations of the 6th Pay Commission, if implemented by the Central government, could result in major negative impact for the fiscal position of the country, though it could be positive for consumption, according to a leading investment banker. The review said assuming the 6th Pay Commission's recommendations were implemented fully, "we judge the impact on the economy should not be as negative this time round". Impact of 5th pay commission was unambiguously negative.
The government on Thursday approved the Sixth Pay Commission recommendations, heaping civil and defence staff with a salary hike bonanza on the eve of the country's 61st Independence Day.
Sixth Pay Commission has urged the government that all Indian Telecom Service (Group A) officers be absorbed in the public sector telecom service providers, Bharat Sanchar Nigam Ltd & Mahanagar Telecom Nigam Ltd, or sent to the surplus pool. It has also suggested winding up of the Telecom Commission saying BSNL and MTNL now provide extensive services along with several private sector operators. The report states there is no need to retain the 2400 cadre strong-ITS (Group A).
The 6-member Monetary Policy Committee, headed by Reserve Bank of India Governor Urjit Patel, in its fifth bi-monthly review, kept the repo rate unchanged at 6 per cent and reverse repo at 5.75 per cent.
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