There shall be two dates for grant of increment - January 1 and July 1 every year - instead of the existing July 1 only.
"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.
In a major New year bonanza for the armed forces, the Prime Minister's Office has informed the defence ministry that the armed forces personnel would henceforth have a separate pay commission, which is delinked from the civilian pay panel.
Cabinet Secretary and Secretaries to be kept in distinct pay scales at Rs 90,000 and Rs 80,000 a month, respectively.
Two Central Board of Excise and Customs staffers, Raman and Suresh, based in Trichy, Tamil Nadu, have set up a Web site based on the 6th Pay Commission recommendations and dedicated exclusively to government employees.
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.
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.
The revenue budget of the defence services is likely to go up 3.2 times in the next Budget if the recommendations of the 6th Pay Commission are accepted. On an average, the services had recommended a salary hike of up to 4.5 times. They had also sought a five-and-a-half times increase in counter-insurgency allowances. They had expected an increase of 3.8 times. The increase in salaries that has been granted is 3.2 times. Allowances, by and large, have been doubled.
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.
The military will now demand further pay and promotion parity with civilians
RBI's likely focus will shift back towards the resolution of non-performing loans in the banking system for reviving credit demand
'None other but the invincible chariot led by Modi and Shah could have taken up the challenge and won,' says Tarun Vijay.
ADB too had projected Indian's economic growth for current fiscal at 7.6 per cent
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.
Trade unions' had demanded 8.9 per cent interest rate.
'Political parties are following the Divide and Rule policy to break the unity of farmers.'
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
Pulses inflation remained stubborn at 35.56 per cent.
'Our political leadership needs to grasp that there is a difference between a soldier, policeman, trained private security guard and a chowkidar, though all of them provide security.' 'The cross border raids by the army could not be taken by the Central Reserve Police Force, for sure!'
In his last Budget, Suresh Prabhu, set an ambitious target for capital expenditure.
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.
Finance Minister P Chidambaram said after the revenue deficit of states had shot up to 2.79 per cent of GDP in 1999-2000, it had come down to 2.56 per cent in 2003-04.
'We need to look beyond the current approach'.
The government on Monday announced a one-time Rs 10,000 interest-free festival advance to all its officers and employees as part of plans to increase consumer spending to spur demand in the economy.
Analysts at Bank of America Merill Lynch said that fears of inflation getting "generalised" are overdone, as only two sub-categories of fuel and light and housing (accounting for 22 per cent of the basket) have seen a price-rise above the headline 5.2 per cent.
The revised salaries of central government employees are likely to be paid from July 1, 2016.
The government on May 17 formed a five-member committee.
High frequency indicators suggest that a growth recovery is underway, but very tentatively and with weak legs, says Saugata Bhattacharya.
It is worrisome that salaries are consuming as much expenditure as equipment.
Bhaichung Bhutia, India's iconic former football captain, is set to try his political luck again, this time in his native state of Sikkim, as he plans to contest the assembly elections due this year.
India will not vacate the Siachen glaciers as Pakistan cannot be trusted and it may occupy the strategic location once it is vacated, Defence Minister Manohar Parrikar said today.
The announcement of a deferral is expected to be part of Finance Minister Arun Jaitley's Budget speech on February 29.
Entry-level employees were the most disappointed.
Likely to be merged with Union Budget from FY18
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.
The RBI said there is an upward bias on inflation projection.
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 Reserve Bank is likely to cut the repo rate by 25 basis points (bps) after the Budget.
