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The Indian cabinet yesterday sanctioned an average 21% pay increase for 5m federal employees and military staff, the first revision of government pay scales during the last 12 years.
P. Chidambaram, finance minister, said the civil servants' pay hike that will be backdated to January 1 2006, will cost Indian taxpayers $3.6bn this year, comprising part of the debt from 2006.
Moreover, Indian Railways will have to pay $1.5bn to its staff.
The eyes of the central government employees will be firmly glued on the forthcoming 6th Pay Commission Pay Scale, which is likely to be announced on Friday, Aug 15.
The central government has sanctioned the setting up of the sixth pay commission to revise salary structures plus other perks for its 5.5 million staff across the country.
The sixth pay commission is estimated to cost the government an additional Rs 20,000 crore.
Armed forces, civil servants and paramilitary staff will get to rejoice this Independence Day with the administration ready to approve the Sixth Pay Commission Report that was postponed in the Parliament earlier this year, but not implemented up till now.
A high level conference on Wednesday (August 13) led by Prime Minister Dr. Manmohan Singh discussed the pay panel details and the suggestions of the empowered group of Secretaries that went into the anomalies and other matters.
Prime Minister Dr. Manmohan Singh held a meeting with defence minister A.K. Antony and finance minister P. Chidambaram on Wednesday, regarding the pay commission recommendations for Central government employees, armed forces employees as well as paramilitary staff.
A senior Union minister stated that Cabinet is ready to sanction the Sixth Pay Commission recommendations today.
Prime Minister Dr. Manmohan Singh will declare the award during his Independence Day speech on Friday, August 15.
Around 5.4 million government workers will get their pay increases and the administration will have to distribute an additional Rs 20,000 crore.
New Delhi, Aug 13 : The Prime Minister’s Economic Advisory Council has lowered the GDP growth projection to 7.7 percent during 2008-09 as against 9 percent in last fiscal.
EAC chairman C Rangarajan said that inflation could shoot up to beyond 13 percent. Agricultural and industrial growth rate projection has also been brought down.
employees and military staff, the first revision of government pay scales during the last 12 years.
The eyes of the central government employees will be firmly glued on the forthcoming 6th Pay Commission Pay Scale, which is likely to be announced on Friday, Aug 15.
Independence Day with the administration ready to approve the Sixth Pay Commission Report that was postponed in the Parliament earlier this year, but not implemented up till now.
New Delhi, Aug 13 : The Prime Minister’s Economic Advisory Council has lowered the GDP growth projection to 7.7 percent during 2008-09 as against 9 percent in last fiscal.
