7th Pay Commission Pay hike needed more money: FM

7th Pay Commission Pay hike needed more money: FM New Delhi: Finance Minister Arun Jaitley told lawmakers on Friday that he would need more money in the current fiscal year to cover the cost of 7th Pay Commission Pay hike for 10 million central government employees and pensioners. The government will require “some enhancement” for spending on salaries and pensions in 2016-17 to absorb the off-cycle pay hikes announced in June on the recommendation...

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Panel to submit report on one regulator for pension products

Panel to submit report on one regulator for pension productsMumbai: A panel formed by the government to look into the issue of bringing all pension products under one regulator is likely to submit its report shortly, a top official of pension watchdog PFRDA said today.At present, pension products are being regulated by multiple financial regulators like PFRDA, Sebi, Irdai and EPFO.However, Pension Fund Regulatory and Development Authority (PFRDA) has urged the government to bring all such products under it.“A proposal has been already put to the...

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Method of Calculation of disability where two types of IDs are involved

Method of Calculation of disability where two types of IDs are involved No. 16(02)/2015-D(Pen/Pol) Government of India Ministry of Defence Department of Ex-Servicemen Welfare New Delhi, Dated 8th August 2016 To, The Chief of the Army Staff, The Chief of the Naval Staff, The Chief of the Air Staff, Subject- Method of Calculation of disability where two types of IDs are involved. Sir, It has been observed during perusal of RMB/IMB proceedings that some Armed Forces Personnel have sustained some disability under category ‘B’ & ‘C’...

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Ordnance Factory Board

Ordnance Factory Board Majority of the requirement of items like Ammunition, Armoured Vehicles, Troop Comfort items etc for Indian Army are met through the Ordnance Factory Board (OFB). The contribution of OFB in meeting the requirement of the Army has increased over the years. In value terms, the supplies by OFB to Army has increased by over 25% in the year 2015-16 compared to 2014-15. Further, for communicating long term requirement of Army, the system of Five Year Roll On Indent for Ammunition items has been introduced since 2010. ...

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Exercise option within Three Months of the Date of Notification

Exercise option within Three Months of the Date of Notification To Exercise option under the provisos to rule 5 with in three months of the Notification of Revised Pay Rule 2016 is issued. shall be exercised in writing in the form appended to these rules so as to reach the authority mentioned in sub-rule (2) within three months of the date of notification of Revised Pay Rule 2016. Exercise of option :- (1) The option under the provisos to rule 5 shall be exercised in writing in the form appended to these rules so as to reach the authority...

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7th Pay Commission: Central government employees can expect revised allowances by November

7th Pay Commission: Central government employees can expect revised allowances by November Central government employees can expect to get the enhanced allowances by November this year when the special committee to examine the proposals submits its report. The BJP-led NDA government is likely to take a decision about the hike in allowances for Central government employees by November this year when the panel appointed to examine it submits its report. The committee headed by finance secretary has secretaries from home affairs, defence,...

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