Ticker

Economic Analysts Expect 15 to 40 Percent hike likely to be recommended by 7th pay commission

Due to the co-relation between Pay Commissions and economic growth, many analysts are eagerly awaiting the 7th Pay Commission report   Bank of America estimates the salary raise to be at 15%, Religare puts it at 28 to 30%. Credit Suisse expects a salary hike of 40% 

Pay Commissions, which are regularly constituted to review salaries of Central government employees, give a fillip to the Indian economy, according to analysts. The sixth Pay Commission partly offset the after-effects of the 2008 Lehman crisis on India because of the 35% increase recommended. The implementation of the hike boosted two-wheeler and car sales and increased demand in the cement sector, according to global brokerage firm Bank of America Merrill Lynch.

Pay packages of government employees rose by an average of 35% as per the recommendations of 6th Pay Commission. They also received arrears of more than 30 months due to delay in the implementation. “The arrears resulted in robust demand for consumer discretionary products that resulted in sustained stock performance over 3-5 years,” Jai Shankar, chief India economist of Religare, told NDTV Profit.

Due to this co-relation between Pay Commissions and economic growth, many analysts are eagerly awaiting the 7th Pay Commission report. The 7th Pay Commission was appointed in February last year by the outgoing Congress-led UPA government, is likely to submit its recommendations by August-end or latest by October. The recommendations are likely to be implemented by the Central government next year.

About 50 lakh central government employees (including 15 lakh defence personnel) and more than one crore state and local government employees will gain from the recommendations to be made by 7th Pay Commission, according to Religare. Besides, it will also result in an upward revision of pension for about 30 lakh retired Central government employees.

While there is no consensus on the amount of salary hike likely to be recommended by the 7th Pay Commission, analyst expects it to be in the range of 15 to 40%.While Bank of America estimates the salary raise to be at 15%, Religare puts it at 28 to 30%. Credit Suisse expects a salary hike of 40%. Economists see the 7th Pay Commission as improving the economic activity in the country by increasing consumption. “The most important factor is economic activity itself which is gaining pace and, together with greater employment generation and policy reform, the 7th Pay Commission salary hike may help India enter a larger virtuous cycle,” said Religare.

“A 15 per cent salary increase would push up the central government’s salary bill by Rs 25,000 crore (or $4 billion), which is 0.2 per cent of India’s GDP. This will help in a consumption-driven recovery in the domestic economy,” said Indranil Sen Gupta of Bank of America Merrill Lynch.

Source: ibtimes

DoPTgrants funds for the modernisation of Departmental Canteens to Ministries/Deptts. and their attached/subordinate offices

Director (Canteens), Ministry of Personnel, PG. and Pensions issued an OM for the Grant of funds for modernisation  of Non-Statutory Departmental Canteens located in Central Government Offices.

No.20/1/2015-Dir.(C)

Government of India

Ministry of Personnel, PG. and Pensions

(Department of Personnel & Training)

Lok Nayak Bhawan, Khan Market,

New Delhi, dated 31st July, 2015

OFFICE MEMORANDUM

Subject : Grant of funds for Modernisation of Non-Statutory Departmental Canteens located in Central Government Offices.

The undersigned is directed to state that Department of Personnel and Training has initiated a scheme whereby financial assistance would be provided to individual Ministries/Deptts. and thei r attached/subordinate offices for the modernisation of Departmental Canteens under their administrative charge.

2.  Approved scheme for provision of funds to Ministries/Deptts. and their attached/subordinate offices is enclosed for ready reference. The funds will be provided on first-cum-first serve basis.

3. All Ministries/Deptts. and their attached/subordinate offices are requested to assess the need for modernisation of Departmental Canteens under their administrative charge and forward their proposal for grant of funds to this Department after obtaining the approval of respective IFDs.

(Pratima Tyagi)

Director(Canteens)

DG-Service Tax is renamed as DG-GST and its head quarters shifted from Mumbai to Delhi

DA to go up by 6% from 1st July,2015 onwards?

It is learnt that the DA for CG employees will be enhanced by 6% from 1st July,2015 on-wards taking the total DA to 119% from the present 113%. The decision to enhance the DA will be taken in the Cabinet meeting to be held in the first week of September,2015. 

DoPT issues fresh instructions on filing of Lokpal Declarations

Jishnu Barua, IAS

Joint Secretary (S&Vig.-II )

GOVERNMENT OF INDIA

DEPARTMENT OF PERSONNEL & TRAINING

MINISTRY OF PERSONNEL, PUBLIC GRIEVANCES

AND PENSIONS

NORTH BLOCK, NEW DELHI – 110001

 

D.O. No. 407/12/2014-AVD-IN(B) Part.I                                                       Dated: the 30th July, 2015

Dear Secretary,

Kindly refer to my D.O. letter of even number dated 30th April, 2015 regarding furnishing of information relating assets and liabilities by Public Servants under provisions of Section 44 of the Lokpal and Lokayuktas Act, 2013 and forwarding therewith copies of the Government of India Notifications dated 27th April, 2015.Returns for Central Government Employees

2. In this regard, I am now forwarding herewith a copy of the Government of India Notification dated 03rd July, 2015, further amending the Public Servants (Furnishing of Information and Annual  of Assets and Liabilities and Limits for Exemption  of Assets in filing Returns) Amendment Rules, 2015.

3. In view of the aforesaid notification of Public Servants (Furnishing of Information and Annual Returns of Assets and Liabilities and Limits for Exemption of Assets in filing Returns) Second Amendment Rules, 2015, the timelines for filing of returns/declarations, specific to different years, by public servants under the Lokpal and Lokayuktas Act, 2013, are as follows:

a. the first return (as on 1st August, 2014) [as was initially required to be filed by 15th September, 2014] can now be filed by 15th October, 2015.

b. the annual return (as on 31st March, 2015) [as was initially required to be filed by 31st July, 2015], can now be filed by 15th October, 2015.

c. the subsequent annual returns (as on 31st March of each year ) are required to be filed by 31st July of that year.

4. In view of the above, I would like to request you to kindly bring the above mentioned position to the notice of all concerned and to issue orders towards ensuring compliance with these rules by all officers/staff in your Ministry/Department and organisations/PSUs under the control of your Ministry/Department.

With kind regards,

Yours sincerely,

(Jishnu Barua)

Period for applying LTC Advance – Government servant can draw the Leave Travel Concession advance 65 days before the proposed date of outward journey

Personnel Ministry has issued a press release on Period for applying LTC Advance

Period for applying LTC advance

A Government servant can draw the Leave Travel Concession advance 65 days before the proposed date of outward journey.

Indian Railways has fixed the advance reservation period as 120 days excluding the date  of journey w.e.f. 01.04.2015 for all long distance mail/express trains as well as Shatabdi Express trains.

The issue  of any change in instructions relating to drawal of advance for LTC has to be decided keeping in view all factors including changes made by the Railways, as well as financial implications.

This was stated by the Minister of State in the Ministry of Personnel, Public Grievances and Pensions and Minister of State in the Prime Minister’s Office, Dr. Jitendra Singh in a written reply to a question by Shri Kiranmay Nanda in the Rajya Sabha today.

Asset and Liablities Return under Central Civil Services (Conduct) Rules, 1964 and Lokpal and Lokayuktas Act, 2013 – Consolidated Instructions issued by DOPT

DOPT reiterates the instructions issued earlier (D. O. No. 407/12/2014-AVD-IV-B dated the 30th April, 2015) that all Government Servants belonging to Group A, Group B, Group C and erstwhile Group D will have to file declaration  of Assets and Liablities as on 15th August 2014 and as on 31st March 2015under Lokpal on or before 15th October 2015

Rule 18 [1) (i) of the Central Civil Services (Conduct) Rules, 1964, every Government servant shall on his first appointment to any service or post submit a return of his assets and liabilities, in the form prescribed by the Government, giving the full particulars of movable, immovable and valuable property and debts and other liabilities, etc..

All Government servants i.e., belonging to Group A, Group B, Group C and erstwhile Group D, are now required to furnish the declaration of their assets & liabilities under Lokpal and Lokayuktas Act, 2013 as per following schedule.

(i) The first return under the Lokpal Act (as on 15th August. 2014) should be filed on or before 15th October. 2015;

(ii) The next annual return under the Lokpal Act, for the year ending 31st March, 2015 should be filed on or before 15th October. 2015; and

(iii) The annual return  for subsequent years as on 31st March every year should be filed on or before 31st July of that year.

Digital Life Certification – List of Government Employees due for retirement with their Aadhaar Number, PAN, Mobile Number and Email ID to be provided by Heads of office to PAO

Dept of Expenditure, Central Pension Accounting Office issued an OM on Preparation of list of Government servants due to retire along with their Aadhaar numbers  and incorporation of Aadhaar number in PPO Booklet

GOVERNMENT OF INDIA



MINISTRY OF FINANCE – DEPARTMENT OF EXPENDITURE

CENTRAL PENSION ACCOUNTING OFFICE

TRIKOOT-II, BHIKAJI CAMA PLACE,

NEW DELHI-110066

PHONES : 26174596, 26174456, 26174438

CPAO/Tech/Jeevan Pramaan/2015-16/515 to 662.

     10.07.2015

Office Memorandum

Subject:- Preparation of list of Government servants due to retire along with their Aadhaar numbersand incorporation of Aadhaar number in PPO Booklet.

1. As a part of Digital India initiatives, Digital Life Certification (DLC) of the pensioner has been made an option for submission of life certificate by the pensioner in the month of November each year. As the role of Aadhaar has become vital, a column for Aadhaar has already been provided in the Pension Payment Order booklet. Accordingly, all Heads of Offices have to ensure that wherever available same is provided to their Pay & Accounts Offices alongwith pension papers of the retiring government servants. In this regard, a provision has also been made in CAM-52 (PPO Booklet) by adding the following columns after existing column no.5.

6. Permanent Account Number for Income Tax (PAN)

7. Aadhaar No. (if Available)

8. Mobile No. (if Available)

9. E-Mail ID (if Available)

2. The seeding of Aadhaar with pensioners’ PPO number and their bank accounts is being closely monitored by Prime Minister Office. While this information is being regularly collected by CPAO from banks, the processing of fresh pension cases alongwith Aadhaar number is a very important requirement for expediting seeding of Aadhaar number by banks with PPO number & bank accountand smooth implementation of submission of DLCs by pensioners in the month of November.

3. Further, attention is invited to Rule 56 of CCS (Pension) Rules which provides that:-

“(1) Every Head of Department shall have a list prepared every three months, that is, on the 1st January, 1st April, 1st July and 1st October each year, of all Government servants who are due to retire within the next twelve to fifteen months of that date.

(2) A copy of every such list shall be supplied to the Accounts Officer concerned not later than 31st January, 30th April, 31st July or 31st October, as the case may be, of that year.”

4. To avoid any delay in finalizing the pension cases all Heads of Offices should have first-hand information of the Aadhaar number while preparing the list of retiring government officials as per the provision of Rule 56 of CCS (Pension) Rules and should provide the same to the Accounts Officer concerned not later than 31st January, 30th April, 31st July or 31st October of that year.

5. In has been observed that during the month of June, 2015; out of 3101 fresh PPOs (PensionPayment Orders), only in 220 cases Aadhaar numbers have been indicated. All Pr. CCAs/CCAs/ AGs are once again requested to ensure that all fresh PPOs are sent to CPAO with Aadhaar numberswherever available and quarterly list of would be retirees as mentioned in para 3 & 4 above also mention Aadhaar numbers wherever available.

(Subhash Chandra)

Controller of Accounts

RS Select Committee on GST submits its report

The landmark bill on Goods and Services Tax on Wednesday won majority support of the Rajya Sabha Select Committee, which endorsed almost all the provisions while also agreeing to demands of parties like Trinamool Congress for a five-year compensation to states.
The committee, headed by BJP's Bhupender Yadav, in its report submitted to the House suggested changes in clauses pertaining to compensation and levy of 1 per cent additional tax by the states on inter-state supply of goods.
The report, however, is marked by dissent notes from Congress, AIADMK and Left parties, which have expressed their opposition to the GST Constitution Amendment Bill in the existing form.
The bill, which has already been approved by Lok Sabha, will now have to be taken up for passage in the Upper House.
As it is a Constitution Amendment Bill, the bill has to be approved by two-third members in the Rajya Sabha.
The ruling BJP government does not have a majority in Rajya Sabha and will have to depend upon support of regional parties and allies for passage of the bill.

PM meets Trade Union Leaders

The Prime Minister, Shri Narendra Modi, today met leaders from various Trade Unions, over tea. The meeting followed extensive consultations that these leaders had with an inter-ministerial team headed by the Finance Minister Shri Arun Jaitley, earlier in the day.

The Prime Minister heard the views of the Trade Union leaders on various issues of interest to workers, including in areas related to economic policy, and related laws.

The Trade Unions represented at the meeting included AITUC, All India United Trade Union Centre, All India Central Council of Trade Unions, Bharatiya Mazdoor Sangh, CITU, Hind Mazdoor Sabha, Hind Mazdoor Sangh, INTUC, Labour Progressive Federation, National Front of Indian Trade Unions, Self-Employed Women’s Association, Trade Union Coordination Centre, and United Trade Union Congress.

Union Ministers Shri Arun Jaitley, Shri Bandaru Dattatreya, Shri Dharmendra Pradhan, Shri Piyush Goyal and Dr. Jitendra Singh were present at the meeting.

PIB