Government's effective supply-side measures and commendable commitment to fiscal consolidation will have a salutary impact on inflation, says the RBI report.
West Bengal and Maharashtra, despite having fewer public sector employees, are likely to face a higher burden of salaries and pensions.
The new pay scale will come into effect from January 1.
With its age-old fascination for education, southern states have done better than the North. Start-ups, IT hubs, and industry majors setting up shop have changed the face of the South. Nearly 79% of global offices set up by international conglomerates in India are in the South. Almost 46% of tech unicorns are from the South. The GDP per person in the South is 4.2 times higher than the North. None of these indicators can be ignored by any central government, whatever the political compulsions, notes Ramesh Menon.
By suggesting a substantial hike for government employees, the 6th Pay Commission, like many before it, has indeed been an honest attempt at destabilising the nation. And for that reason the nation need to consign it to the dustbin.
A slew of sops were announced for teachers, employees of municipalities and others.
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.
The Commission will now have time until December 31 to submit its report.
The Enforcement Directorate (ED) has filed a chargesheet in the National Herald case, accusing Congress leaders Sonia Gandhi and Rahul Gandhi of a "criminal conspiracy" to "usurp" properties worth Rs 2,000 crore of its public company AJL by transferring 99 per cent shares for just Rs 50 lakh to their private company Young Indian. The ED has named Sonia Gandhi as accused no 1 and Rahul Gandhi as accused no 2 in the chargesheet, which was filed under various sections of the Prevention of Money Laundering Act (PMLA).
In his Budget, Jaitley announced a pay hike for the President to Rs 5 lakh per month, Rs 4 lakh for the VP and Rs 3.5 lakh for governors.
The outgo towards salary will further rise in 2017-18 to over Rs 1.28 lakh crore.
The latest biopic on Jyotibai Phule has come at a time when the Department of Taking Offence is super-active. Utkarsh Mishra feels it will be interesting to see if it portrays his attack on Brahminism in the same 'no holds barred' manner-- and, if it does, what reaction it provokes.
Nearly 22 lakh Maharashtra state government employees, including secondary and junior college teachers and non-teaching staff, have decided to go on indefinite strike from Monday demanding implementation of 6th Pay Commission.
Fraudsters read your mind, weave convincing stories, earn your trust and then vanish with people's savings. Ramalingam Kalirajan reveals five simple tricks that cons use to steal money from you.
A demand for raising wages and allowances of MPs was made in the Rajya Sabha on Friday with members demanding that their salaries should be higher than the revised scale of the Cabinet Secretary.
All interest free advances stand discontinued with the exception of interest free advance for medical treatment, travelling allowance for family of deceased, travelling allowance on tour or transfer and leave travel concession
There shall be two dates for grant of increment - January 1 and July 1 every year - instead of the existing July 1 only.
An increase in the farmer income support scheme PM Kisan Nidhi, the introduction of a 'robot tax' to fund reskilling of people who lose their jobs to artificial intelligence (AI), and a reduced income-tax (I-T) to bring relief to the middle classes - these are some of the items in the Budget wish list submitted by Sangh Parivar affiliates to Finance Minister (FM) Nirmala Sitharaman. Representatives of the affiliates of the Rashtriya Swayamsevak Sangh (RSS), such as the farmer organisation Bharatiya Kisan Sangh (BKS); trade union Bharatiya Mazdoor Sangh (BMS); Laghu Udyog Bharati, which works for micro and small industries; and Swadeshi Jagran Manch (SJM), which works on economic and policy issues, met the FM and other officials over the last couple of weeks as part of the pre-Budget consultations.
On its 177th anniversary, Utkarsh Mishra explores the history and relevance of The Communist Manifesto.
Jaitley said the government has been able to improve its budgeted expenditure.
Gujarat and Jharkhand are most favourably placed in terms of smaller share of public sector employees and lower liability on pension, wages and salaries.
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.
The recommendations will benefit 47 lakh central government employees and 52 lakh pensioners.
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.
Finance Commission has got new team who are committed to growth initiatives.
'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 Centre on Tuesday said it cannot give blanket assurance to states to help them come out of financial problems following implementation of the 6th Pay Commission awards by them.
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).
The S&P BSE Sensex rose 216 points to end at 26,740 and the Nifty50 gained 76 points to close at 8,204.
'The present generation, either due to historical amnesia or political propaganda, has been fed a narrative that paints India as an adversary rather than an ally.'
Analysts expect earnings to become increasingly relevant given that the stocks have rallied on positive sentiment and the gush of liquidity. Macro factors, they suggest, have already led to a large re-rating in most counters
Launching an attack on the BJP, Railway Minister Lalu Prasad on Friday said the increase in prices was the "handiwork" of traders sponsored by the saffron party.Prasad said there has been a sudden increase in prices after the submission of the report of the 6th Pay Commission and this should be investigated.
The Union cabinet has given its nod for the revision of salary and allowances of lieutenant governors of Union Territories and it will be on a par with that of the secretary to the government of India, an official statement said.
Gautam Adani, India's second-richest man, and seven others including his nephew Sagar have been charged with paying bribes to unidentified officials of state governments in Andhra Pradesh and Odisha to buy expensive solar power, potentially earning more than $2 billion profit over 20 years.
Dearness Allowance for central government employees has been hiked to 31 per cent of the basic pay from 28 per cent with effect from July 1, 2021, the Finance Ministry said. In an office memorandum, the Department of Expenditure, under the Finance Ministry, said the term 'basic pay' means the pay drawn as per the 7th pay commission matrix and does not include any other type of pay like special pay, etc. "....the Dearness Allowance payable to central government employees shall be enhanced from the existing rate of 28 per cent to 31 per cent of the basic pay with effect from July 1, 2021," said the office memorandum dated October 25.
The revised salaries of central government employees are likely to be paid from July 1, 2016.
Fitch frowns at government pay hikes.
'If the criminal or civil charges are deemed unworthy or defective, Trump's new justice department and SEC can withdraw the criminal and civil cases.'
Talking to reporters, state medical education minister Girish Mahajan said he has asked resident doctors to engage in a dialogue and urged them not to stretch the matter further.
The move comes following the implementation of the 7th Pay Commission's recommendations which has created an anomalous situation in which the salary of the President is Rs 1 lakh less than that of the country's top-most bureaucrat, the Cabinet secretary.
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