The Union Cabinet on Wednesday increased Dearness Allowance (DA) and Dearness Relief (DR) by 3 per cent for about 49.19 lakh central government employees and 68.72 lakh pensioners.
Prime Minister Manmohan Singh has approved composition of the 7th Pay Commission, which will revise the salaries of over 50 lakh Central government employees.
The Centre on Thursday hiked Dearness Allowance (DA) to 50 per cent of basic pay from the existing rate of 46 per cent effective from January 1 this year, benefitting over 1 crore employees and pensioners ahead of general elections. The Union Cabinet has approved to release an additional instalment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners from January 1, 2024, representing an increase of 4 percentage points over the existing rate of 46 per cent of the basic pay/pension, to compensate against price rise, Union Minister Piyush Goyal said after the Cabinet meeting.
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 Union Cabinet on Wednesday hiked Dearness Allowance (DA) and Dearness Relief (DR) by 3 per cent to 34 per cent to compensate for the price rise, benefitting over 1.16 crore central government employees and pensioners. The additional instalment will be effective from January 1, 2022, said an official release after the Cabinet meeting. "The Union Cabinet...has given its approval to release an additional instalment of DA to central government employees and DR to pensioners w.e.f. January 1, 2022, representing an increase of 3 per cent over the existing rate of 31 per cent of the Basic Pay/Pension, to compensate for price rise," an official statement said.
It will benefit about 48.34 lakh central government employees and 65.26 lakh pensioners.
Jaitley said the government has been able to improve its budgeted expenditure.
Narendra Modi's real legacy will be if he can redesign the IAS and the concept of an all-India service, argues T C A Srinivasa Raghavan.
The increase is in accordance with the accepted formula, which is based on the recommendations of the 6th Central Pay Commission.
Though the government obn Thursday in principle accepted the Services' demand for restoring 70 per cent 'extant pensionary weightage' to jawans on the basis of their last drawn pay, the Armed Forces are cut up with the finance ministry over the rejection of their three other demands concerning officers. The CPC had recommended that the jawans be given 50 per cent 'pensionary weightage' and provided an option of lateral entry into paramilitary and central police forces.
His statement comes in the wake of the defence forces' signal to its 1.5 million personnel on the 'anomalies' in the CPC, asking them to 'be patient in the larger interest of the services', which was seen as an act of defiance of the Cabinet decision to implement revised pay scales from September 1.
The Commission will now have time until December 31 to submit its report.
The RBI announced its monetary policy on Tuesday.
DA was last revised in September last year from 100 per cent of basic pay to 107 per cent.
The government initiated the process for amendment to the Payment of Gratuity Act, 1972, which applies to establishments employing 10 or more persons.
As around 5,000 nurses went on strike from the afternoon hampering patient care services at the premier hospital, AIIMS Director Randeep Guleria in a video message termed the strike in the time of pandemic as "inappropriate and unfortunate".
Officers responsible for preparing budgets say their detailed costing projections are mostly ignored. The defence ministry simply takes the previous year's budgetary allocations for each service and adds a small percentage to those.
In April, RBI had projected retail inflation to be around 5 per cent.
"The main risk stems from the uncertainty surrounding the outcome of the south west monsoon in view of the rising probability of an El Nio event around July-August, and its implications for food inflation," RBI said, as it kept the status quo on key interest rate for the third time in a row.
The armed forces are seeking an enhancement of allowances for their personnel posted in "hardship" areas on the pattern of high-altitude Siachen in Jammu and Kashmir.
The increase is in accordance with the accepted formula, which is based on the recommendations of the 6th Central Pay Commission, it said.
The proposed hike is in accordance with the accepted formula based on the recommendations of the 6th Pay Commission
The government on Wednesday announced that dearness allowance for govt employees has been hiked to 6 per cent.
The annual expenditure on contractual manpower in 2012-13 was about Rs 300 crore.
A slowdown in India's growth rate, the bank said, has also affected the growth rate of South Asia. As a result, South Asia has fallen to second place after East Asia and the Pacific.
The strike was supposed to affect about 23 million passengers.
Analysts expect inflation to peak in the first half of 2016-17 and moderate, thereafter, on the back of positive impact of monsoons
Given the importance of equipment modernisation, the overall defence budget should rise at least at the same pace as salaries and pensions, so that equipment modernisation is not hit.
Govt resists pay panel suggestion on scrapping allowances for acting, bad climate, family planning, funeral, robe maintenance and even hair cutting.
The chairman of the committee, A K Mathur, sought abolishment of the two-year edge accorded to the IAS officers for empanelment, compared to other services, saying it was an 'archaic concept'.
Currently, an IAS and IFS officer are accorded a pay advantage or financial edge.
'The high court notice could go some way in easing the vitiated civil-military relationship, and the trust deficit between civil servants and the military.'
The Cabinet on Friday gave mandate to the 7th Pay Commission for revising salaries of over 50 lakh central government employees and remuneration of 30 lakh pensioners.
NPS still has critics despite being in business for a decade and mopping Rs 24,000 crore as of 2013-14.
Headed by Urjit Patel, MPC for the fourth straight time kept the repo rate unchanged, at which it lends to the banks, at 6.25 per cent. The reverse repo, at which RBI borrows, will be 6 per cent.
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