7th Pay Commission – Indian Army Chief and his Counterparts in the IAF and the Navy will draw more salary than the top General and Equivalent in the US based on Purchasing Power Parity (PPP)

If the recommendations of the 7th pay commission are implemented, the Indian Army chief’s annual salary will jump to $189,482 (in PPP terms), almost $8,000 more than what a general and equivalent ranks draw in the US. The huge salary hikes will apply equally to civilian officers too. 7th Pay Commission – These conclusions are, however, equally applicable to civilian employees of the government who are similarly placed. 7th Pay Commission recommendation – For the first time, the Indian Army chief and his counterparts in the IAF and the...

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FM: Government has taken various measures to deal with the issue of Non Performing Assets (NPAs) in Banking Sector

FM: Government has taken various measures to deal with the issue of Non Performing Assets (NPAs) in Banking Sector The Union Finance Minister, Shri Arun Jaitley said that the Government has taken various measures to deal with the issue of Non Performing Assets (NPAs) in Banking Sector especially in case of Public Sector Banks (PSBs). The Finance Minister said that there are two categories of defaulters, viz. those who are unable to pay back due to economic slowdown both in domestic and global market and other reasons outside their control...

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Changes in National Pension System (NPS)

Changes in National Pension System (NPS) The Government has proposed the following in the Finance Bill, 2016 with regard to the National Pension System (NPS): i. Allowing 40 per cent of the NPS corpus tax exempt on lump sum withdrawal. ii. Waiving service tax on the NPS corpus utilized for purchase of annuity. iii. The amount receivable by the nominee in case of death of the subscriber covered under NPS has been made tax exempt. iv. One-time portability without any tax implication has been allowed to the subscriber for shifting from recognized...

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7th Pay Commission Latest News – Minister’s reply on financial outgo and implementation Date

In the event of 7th Pay Commission implementation in 2016-17, additional burden to exchequer would be Rs 1.02 lakh crore, which is 0.7 per cent of GDP 7th Pay Commission Latest News – Minister’s written reply in Parliament on financial outgo and implementation Date – Minister also confirms recent release of additional DA has no impact on the recommendation of 7th Pay Commission 7th Pay Commission likely Implementation date and Financial Implication: Likely 7th CPC Implementation Date : 7th Pay Commission recommendations to be implemented...

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Scheme for promotion of Adventure Sports and similar activities amongst Central Government Employees Continuation of Scheme during the year 2016-17 and inclusion of new Institutes

No.125/1/2015-16/CCSCSB Government of India Ministry of Personnel, Public Grievances & Pensions Department of Personnel & Training ****** Lok Nayak Bhawan, New Delhi Dated 26th April, 2016. OFFICE MEMORANDUM Sub: Scheme for promotion of Adventure Sports and similar activities amongst Central Government Employees Continuation of Scheme during the year 2016-17 and inclusion of new Institutes. The undersigned is directed to refer to the Department of Personnel & Training Office Memorandum of even number dated 4th December,...

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