Central Government employees taking leave on Jan 1, 2016 may face cut in salary revision

Central Government employees taking leave on Jan 1, 2016 may face cut in salary revision New Delhi: It is bitter bill that the Central Government employees will have to swallow if they take leave on January 1, 2016. As per the 7th Pay Commission Recommendations, taking leave on 1-1-2016 will affect the effective date of pay revision. The notification says that pay revision will be effected from 1st January 2016 only for those who are present on duty on 1st January 2016. A Department of Para Military Forces has also informed its officials...

Read More

1.5% Extra Growth Needed to Grant Wage Hikes – Jaitley

1.5% Extra Growth Needed to Grant Wage Hikes – Jaitley “In the coming year, there would be a burden of Rs 1.02 lakh crore of Seventh Pay Commission, OROP (one rank, one pension) burden is also there. That burden can be sustained only when there is increase in economic activity.” 1.5% Extra Growth Needed to Grant Wage Hikes – “We need to increase our growth rate. We have to at least increase it by 1-1.5 percent”. The government is ready to have a dialogue with the trade unions on wage increases, but the country needs to grow by an extra...

Read More

7th Pay Commission – Leaves Army out in the Cold – The US defence budget is more than 4% of their GDP while that of India is less than 2% of the GDP

7th Pay Commission – Leaves Army out in the Cold – The US defence budget is more than 4% of their GDP while that of India is less than 2% of the GDP The 7th Pay Commission has submitted its report to the government recently. The repercussions of the report are now being felt on government finances. The Railways have, as per reports, requested the finance ministry to bear the additional cost arising out of recommendations of 7th CPC. Similarly, there are reports that the Budget will need adjustments to accommodate recommendations...

Read More

Budget 2016: Assocham demands income tax exemption to Rs 2.5 lakh, re-introduce standard deduction

Budget 2016: Assocham demands income tax exemption to Rs 2.5 lakh, re-introduce standard deduction New Delhi: Industry body Assocham demanded an increase in income tax exemption ceiling for salaried people to Rs 2.5 lakh and and re-introduce standard deduction for salaried employees to boost consumption in the upcoming Budget. The income tax exemption ceiling at present is Rs 1.5 lakh. “And re-introduce the concept of standard deduction for salaried employees who can then give a boost to consumption demand and boost economic growth,” Assocham...

Read More

Ex-servicemen meet FM Jaitley, seek changes in OROP notification

Ex-servicemen meet FM Jaitley, seek changes in OROP notification New Delhi: A delegation of ex-servicemen on Sunday met Finance Minister Arun Jaitley and submitted a memorandum seeking “corrections” in the One Rank One Pension (OROP) notification, as their protest on the issue entered the 203rd day. “A five-member delegation met the Finance Minister and told him that the actual OROP has not been granted. The notification issued has serious flaws and we requested him for corrections in it and granting of actual OROP as per the approved definitions,”...

Read More