Implementation of the Seventh Pay Commission recommendations, One Rank, One Pension are the other triggers going ahead, analysts say
Govt is likely to find it hard to meet deficit target next year.
The aim is to reduce working expense by about 15 per cent.
However, the hike in salary for government officials may take some time as the Centre had earlier this year decided to put a freeze on any hike in the DA of its employees till July, 2021, owing to the Covid-19 pandemic.
The government had committed to increasing spending in infrastructure
Jaitley said India needed to grow by additional 1-1.5%.
Overnight, the Wall Street closed on a flatter note.
BJP chief J P Nadda on Thursday launched 'Lokkho Sonar Bangla' (target to build golden Bengal) manifesto crowdsourcing campaign to seek suggestions from more than two crore people in West Bengal ahead of the upcoming assembly elections.
BJP spokesperson Sambit Patra said that Gandhi is an immature leader and his immaturity provided a handle to Pakistan today to accused India.
'They should decide their allocation based on their risk appetite and age, and not valuations.'
About a million railway employees participated in the strike ballot of NFIR. In December, 800,000 employees participated in the strike ballot conducted by another leading union, the All India Railwaymen Federation, with 96 per cent voting in favour of a strike.
Railways to hive off all production units and workshops into new govt-owned company; may invite bids from private players to run passenger trains in next 15 days, with ownership vesting with the government.
Central government employees should not be allowed to earn annual increments if they fail to meet performance criteria.
The pay hike has been made effective from January 1, 2016.
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 judges' committee recommended a pay hike of Rs 2.8 lakh for SC judges, Rs 2.5 lakh for HC judges.
The MSP was introduced to the services recognising their unique service conditions and hardships.
The salary hike for government employees is likely to put an additional burden of Rs 24,000 crore on the state excheque.
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 government is likely to present a "run-of-the-mill" budget with an fiscal slippage to 3.7 per cent of the GDP in the next fiscal from an earlier target of 3.5 per cent, a Nomura report says.
The total salary and pension bill of the central government, which will also include Railway employees, will go up from estimated Rs 4.33 lakh crore to Rs 5.35 lakh crore during 2016-17
Room for rise of up to 2 percentage points, move to help meet higher expenditure need in FY17
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.
With cash -- the primary medium of exchange -- all but disappearing, it is now unlikely that the expected fillip to demand on account of a good monsoon and proceeds from the Seventh Pay Commission payout will materialise.
India's GDP growth quickened to 7.4 per cent in the September.
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.
Union Minister Arun Jaitley while releasing the document said BJP's manifesto is particularly aimed at improving the social infrastructure in Punjab, even as he slammed Congress for its policies which he alleged paved way for militancy in Punjab in 1980s and termed its 2002-2007 tenure in power as "most dishonest and corrupt".
Private consumption is looking up and will get better as the full effect of the good monsoon is felt on rural income, and the effect of the payout from the Seventh Pay Commission is felt on urban income, say Anis Chakravarty & Rishi Shah.
Punjab has over 400,000 employees and pensioners and about 125,000 staff members in its corporations and boards.
The agency said the move on liquidity will lead to an ease in the situation.
Government employees enjoy a pay revision every five years, unlike once in every 10 years for central government employees, and draw relatively higher salary.
'What is bank recapitalisation? When the rich take loans and do not return and the government returns that money to the banks.' 'What is restructuring 5:25 scheme? The government says don't return now, just tell us you will return after five years.' 'Why don't we apply these schemes to farmers?' 'I want to increase the power of farmers to blackmail the government as everyone in the country has the power to blackmail.'
According to the report, financial assets of the Indian households are predominantly in the form of bank deposits, followed by life insurance - a pattern that got disrupted after note ban
Parekh says drafting new I-T law is hindered by the lack of experience.
The state is now under pressure to revise the salaries of its 800,000 employees, which would add to the strain of an already debt-laden state exchequer.
Experts prefer domestic consumption-driven plays and defensives such as information technology and pharmaceuticals
Rajasthan's teachers plan to teach Vasundhara Raje a lesson.
The law was amended to bring parity between public and private sector employees (including PSUs) after the gratuity limit was raised for central government on similar lines
He cautioned people against forces inside and outside India which are working against the country by targeting it and its constitutional values.
Analysts expect the central bank to remain watchful of inflation.
