The outgo towards salary will further rise in 2017-18 to over Rs 1.28 lakh crore.
Indian economy grew 7.9 per cent in the March quarter.
The S&P BSE Sensex rose 216 points to end at 26,740 and the Nifty50 gained 76 points to close at 8,204.
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
More incentives will be given to agriculture sector for increasing agriculture production.
The pay panel had in November recommended 14.27 per cent hike in basic pay at junior levels.
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.
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
'He is not looking at the interest of farmers. He only wants to do the politics of elections.' 'This Budget is for the new super India. It is exploiting the villages of Bharat.'
While still not as drool-worthy as their private sector counterparts, the hike is quite hefty, and across segments
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.
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.
The MSP was introduced to the services recognising their unique service conditions and hardships.
The pay hike has been made effective from January 1, 2016.
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.
'Seven hundred farmers lost their lives.' 'The protesting farmers were demonised and called names like andolanjiwi, Khalistani, anti-national.'
Prime Minister Manmohan Singh has approved composition of the 7th Pay Commission, which will revise the salaries of over 50 lakh Central government employees.
Employees and workers will meet on November 27 to protest against the recommendations
RBI said more monetary transmission to support growth continues to be critical.
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 policy review observed that the moderation in inflation, excluding food and fuel, that was witnessed in the first quarter of 2017-18 has "by and large, reversed".
'The fiscal deficit target of 3.9 per cent of GDP seems achievable.'
Highlights of the RBI monetary policy.
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.
Railways to have functional autonomy, bear salary burden
Inflation target remains 5% for January 2017.
Modi govt faces extra spending burden due to policies like 7th Pay Commission and OROP
In the present times of job uncertainties and layoffs, the lure of bureaucracy is clear.
The DA hike will take effect from July 1.
'In 2016, we had De-Mon and in 2017, we had GST.' 'The combined impact of these two started showing up in 2019 and 2020.' 'COVID-19 only added insult to injury.'
Government's effective supply-side measures and commendable commitment to fiscal consolidation will have a salutary impact on inflation, says the RBI report.
There was widespread criticism from opposition parties and the military establishment over a letter issued on September 30 which had introduced a slab-based system
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.
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.
Mayank Gupta, of BodhiSutra, discusses 10 career streams that will throw up opportunities in the times to come.
The Congress vice president wrote to Prime Minister Narendra Modi saying he was saddened at the decisions of the government taken in the last few weeks
While suburban fares remain unchanged, ordinary non-AC, non-suburban fares were increased by 1 paise per km of journey. The Railways also announced a two-paise/km hike in fares of mail/express non-AC trains and four- paise/km hike in the fares of AC classes. The fare hike is also applicable to premium trains such as Shatabdi, Rajdhani and Duronto.
"I should think that we will have a final answer within about two weeks time or so," Mehta told reporters here while replying to a question on when the committee headed by External Affairs Minister Pranab Mukherjee was expected to submit its report. "But they (the Mukherjee committee) are in the process of finding out what are the issues involved. And I'm sure they will take the right decision pretty quickly," he said.
The armed forces had decided not to implement the revised pay scales from October 1.
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.
