Limewire Free Download
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Monday, September 22, 2008
MPPSC - MPPSC Result 2008 declared
MPPSC - MPPSC Result 2008 declared
MPPSC: Madhya Pradesh Public Service Commission
Click here for results
For more info go to http://mppsc.nic.in/
MPPSC: Madhya Pradesh Public Service Commission
Click here for results
For more info go to http://mppsc.nic.in/
Redbus - www.redBus.in
Redbus - www.redBus.in
RedBus is India’s first and the largest bus ticketing company. It has a national presence, with it headquarters at Bangalore.
redBus can be accessed at www.redBus.in or at any of their 9 call centers in Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad,
Mumbai, Pune, Vijayawada or Vizag. Customers get the advantage of choosing their seats, getting tickets home delivered or by
SMS for over 300 bus operators and over 4000+routes in the country.
The local post office staffs have been trained to handle the customer requirements pertaining to the sale of bus tickets
through redBus. Now a post office near your house or office can also handle your travel requirements as well. The current
mode of payment shall be by cash only.
With this initiative of redBus at all the Post Offices, India Post is proud to announce its versatility and ability to cater
to the travel requirements of the common man and help the common man in a great way.
We hope the people of Karnataka will utilize this facility and benefit from it and we also hope that this initiative of India
Post will bring people of India much closer.
Tags: redbus.in, redbus, red bus Source
RedBus is India’s first and the largest bus ticketing company. It has a national presence, with it headquarters at Bangalore.
redBus can be accessed at www.redBus.in or at any of their 9 call centers in Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad,
Mumbai, Pune, Vijayawada or Vizag. Customers get the advantage of choosing their seats, getting tickets home delivered or by
SMS for over 300 bus operators and over 4000+routes in the country.
The local post office staffs have been trained to handle the customer requirements pertaining to the sale of bus tickets
through redBus. Now a post office near your house or office can also handle your travel requirements as well. The current
mode of payment shall be by cash only.
With this initiative of redBus at all the Post Offices, India Post is proud to announce its versatility and ability to cater
to the travel requirements of the common man and help the common man in a great way.
We hope the people of Karnataka will utilize this facility and benefit from it and we also hope that this initiative of India
Post will bring people of India much closer.
Tags: redbus.in, redbus, red bus Source
Sixth Pay Commission: Income Tax on Pay Arrears
Sixth Pay Commission: Income Tax on Pay Arrears
Along with the bonanza of receiving the pay arrears following the recommendations of the Sixth Pay Commission, there is also a worry among the employees who are going to receive this pay money as pay arrears. The worry is How much Income tax is payable on the pay arrears?.
There have been some news items on television as well as in the newspapers that most of the pay arrears will go towards payment of income tax once the employees receive the arrears. However, the government recently, has clarified its stand on the taxation of the pay arrears for the current financial year.Income tax on Pay arrears Sixth Commission
Government representative said that they would tax only 40 per cent of salary arrears to be paid to central government employees in the current fiscal on implementation of Sixth Pay Commission recommendations.
Usually, the income earned in a year is taxed in that particular year, hence whatever the employees receive in this financial year woul be taxed this year. A lot of media sources reported that the entire amount of arrears would attract tax this fiscal.
As per the notification issued by the government last month, central government employees will get 40 per cent of arrears during the current financial year and the remaining amount in the next financial year.
Government instructions issued on August 30, 2008, regarding fixation of pay and payment arrears consequent to implementation of the Sixth Central Pay Commission recommendations clearly states that in authorising the arrears income tax as due may also be deducted and credited to the government.
The arrears with effect from January 2006 would cost Rs 29,373 crore. Of the arrears, 40 per cent would be paid during the current year to the 50 lakh employees of the central government.
The revised pay scales will add Rs 4,500-5,500 crore to the government exchequer this fiscal in the form of personal income tax.
Besides, some money would also come through indirect taxes as some of the increased pay would go into buying products and services, official sources said here.
Source: http://www.khabrein.info/
Along with the bonanza of receiving the pay arrears following the recommendations of the Sixth Pay Commission, there is also a worry among the employees who are going to receive this pay money as pay arrears. The worry is How much Income tax is payable on the pay arrears?.
There have been some news items on television as well as in the newspapers that most of the pay arrears will go towards payment of income tax once the employees receive the arrears. However, the government recently, has clarified its stand on the taxation of the pay arrears for the current financial year.Income tax on Pay arrears Sixth Commission
Government representative said that they would tax only 40 per cent of salary arrears to be paid to central government employees in the current fiscal on implementation of Sixth Pay Commission recommendations.
Usually, the income earned in a year is taxed in that particular year, hence whatever the employees receive in this financial year woul be taxed this year. A lot of media sources reported that the entire amount of arrears would attract tax this fiscal.
As per the notification issued by the government last month, central government employees will get 40 per cent of arrears during the current financial year and the remaining amount in the next financial year.
Government instructions issued on August 30, 2008, regarding fixation of pay and payment arrears consequent to implementation of the Sixth Central Pay Commission recommendations clearly states that in authorising the arrears income tax as due may also be deducted and credited to the government.
The arrears with effect from January 2006 would cost Rs 29,373 crore. Of the arrears, 40 per cent would be paid during the current year to the 50 lakh employees of the central government.
The revised pay scales will add Rs 4,500-5,500 crore to the government exchequer this fiscal in the form of personal income tax.
Besides, some money would also come through indirect taxes as some of the increased pay would go into buying products and services, official sources said here.
Source: http://www.khabrein.info/
Sixth Pay Commission: Perks, Arrears, Increments & Key Points
Sixth Pay Commission: Perks, Arrears, Increments & Key Points
After the recommendations of the Sixth Pay Commission, here is the brief list of Perks, Arrears, Increments & Key Points of the Sixth Pay Commission, as listed in the official report of the Sixth Pay Commission. How much of these perks, arrears and Increments are you elgible to receive depends upon your Pay Band and the salary. You may also check the Online Calculators for Sixth Pay Commission Salary Calculations.
State Wise Salary Hike details are covered in the links of the article: State Wise Salary Hike Details of Sixth Pay Commission. Please refer to the article and click on your respective state wise link for news and other information.
Link To: Revised Pay Scales, New Pay Bands Finalized by the Government
Union Government notified Sixth Pay Commission Friday. Following are some key points after notification.
Government has accepted most of the points but has rejected three recommendations and has put some other contentious issues to be taken up in future.
Pay Band and Grade pay:
* Grade Pay up to PB2 recommended by 6CPC accepted as such.
* Revised Grade pay from PB3 and above. Check New pay band and Grade Pay
* The basic pay drawn as on 1.1.2006 on the existing Fifth CPC pay scales will be multiplied by a factor of 1.86 and then rounded off to next multiple of 10. This will be the pay in the revised running Pay Band. Grade Pay, as approved by the Government, corresponding to the pre-revised pay scale, will then be added to the Pay in the revised Pay Band. The total of pay in the Pay Band and grade pay will be the revised Basic Pay as on 1.1.2006.
* Rate of annual increments will be 3% and the rate of variable increment for high achievers in PB-3 will be 4%.
* There will be a uniform date of annual increment, viz. 1st July of every year. Employees completing 6 months and above in the revised pay structure as on 1st of July will be eligible to be granted the increment. The first increment after fixation of pay on 1.1.2006 in the revised pay structure will be granted on 1.7.2006 for those employees for whom the date of next increment was between 1st July, 2006 to 1st Jan 2007.
DA and other Allowances
* AICPI (IW) with base 2001 may, henceforth, be used for the purpose of calculating DA till it gets revised. The base using the 2001 series works out to be 115.76. Based on this index the revised DA as on Jan-06, July-06, Jan-07, July-07, Jan-08 and July-08 are estimated to be 0%, 3%, 6%, 9%, 12%, and 16% respectively (based on the calculation made as per index - Exact DA rates are yet to be confirmed by the Government).
* “Campus” restriction for grant of Transport Allowance will be removed. Consequently, employees living in campuses will also be eligible for Transport Allowance. Further, Transport Allowance for the employees at the lowest levels will be increased to Rs.600 (from Rs.400) in A-1/A class cities and Rs.400 (from Rs.300) in other towns.
* New TA - Employees drawing grade pay of Rs. 5400 and above will be eligible to receive TA of Rs.3200 and DA thereon (A1/A class cites) and Rs.1600 and DA thereon (other places. Similarly Employees drawing grade pay of Rs.4200 to Rs.4800 will be eligible to receive TA of Rs. Rs.1600 and DA thereon (A1/A class cites) and Rs.800 and DA thereon (other places). Employees drawing grade pay of below Rs. 4200 will be eligible to receive TA of Rs. 600 and DA thereon (A1/A class cites) and Rs.400 and DA thereon (other places).
* City Compensatory Allowance abolished.
* Employess living in X (Earlier classified as A-1), Y (Earlier classified as A, B-1 & B-2), and Z (Earlier classified as C and Unclassified) will be eligible for HRA of 30%, 20% and 10% (on Fixed Pay and Grade Pay) respectively.
* Children Education Allowance and Reimbursement of Tuition Fee are merged and reimbursement of Children Education allowance will be paid upto the maximum of Rs.1000 per child per month subject to a maximum of 2 children. Hostel subsidy will be reimbursed upto the maximum limit of Rs.3000 per month per child. The limits would be automatically raised by 25% every time the Dearness Allowance on the revised pay bands goes up by 50%.
* Cycle Allowance, Washing Allowance, Cash Handling Allowance, Special Allowance, Night Duty Allowance and Split Duty Allowance have been doubled. Similarly, rates of allowances specific to different Ministries/Departments/Organisations not covered in this Report will also be doubled. The rates of these allowances will be increased by 25% every time the Dearness Allowance payable on revised pay scales goes up by 50%.
* All provisions concerning travel under LTC are to be retained except frequency of travel in home town concession (up to three times during the first two blocks of 4 years after joining the service).
* The revised allowances, other than dearness allowance, will be effective from 1st day of September, 2008.
ACP (Assured Career Progression):
* Three upgradations will be granted under Assured Career Progression (ACP) Scheme at 10, 20 and 30 years as per the modified ACP Scheme recommended by the Commission. ACP Scheme will also be applicable to Group A employees.
* Financial upgradation through ACP will be available whenever a person has spent 10 years continuously in the same grade.
* Benefit of pay fixation available at the time of normal promotion shall be allowed at the time of financial upgradations under the scheme. Thus, an increase of 3% of pay and grade pay shall be available as financial upgradation under the scheme.
Other Points accepted by the Government:
* The Commission’s recommendation regarding payment of arrears has been modified to the extent that the arrears will be paid in cash in two instalments – first instalment of 40% during the current financial year (2008-09) and the remaining 60% in the next financial year (2009-10).
* The Government has approved setting up of Anomalies Committees to examine individual, post-specific and cadre-specific anomalies. The Anomalies Committees should endeavour to complete their work in one year.
Recommendations not accepted by the Government in Sixth Pay Commission:
* Liberal ‘severance package’ for those employees who want to leave service without pension with more than 15, but less than 20 years of service.
* Recommendation relating to Holiday Policy that there should only be three closed holidays for Government employees.
* Flexi-hours for women employees and flexi-weeks for employees with disabilities.
Recommendations of Sixth CPC which will be examined separately :
* Recommendation related to Bonus and Over Time Allowance.
* Recommendation related to General Provident Fund for Central Government employees and Central Government Employees Group Insurance Scheme.
* Introduction of Health Insurance Scheme for Central Government employees and pensioners.
Source: http://www.khabrein.info/
After the recommendations of the Sixth Pay Commission, here is the brief list of Perks, Arrears, Increments & Key Points of the Sixth Pay Commission, as listed in the official report of the Sixth Pay Commission. How much of these perks, arrears and Increments are you elgible to receive depends upon your Pay Band and the salary. You may also check the Online Calculators for Sixth Pay Commission Salary Calculations.
State Wise Salary Hike details are covered in the links of the article: State Wise Salary Hike Details of Sixth Pay Commission. Please refer to the article and click on your respective state wise link for news and other information.
Link To: Revised Pay Scales, New Pay Bands Finalized by the Government
Union Government notified Sixth Pay Commission Friday. Following are some key points after notification.
Government has accepted most of the points but has rejected three recommendations and has put some other contentious issues to be taken up in future.
Pay Band and Grade pay:
* Grade Pay up to PB2 recommended by 6CPC accepted as such.
* Revised Grade pay from PB3 and above. Check New pay band and Grade Pay
* The basic pay drawn as on 1.1.2006 on the existing Fifth CPC pay scales will be multiplied by a factor of 1.86 and then rounded off to next multiple of 10. This will be the pay in the revised running Pay Band. Grade Pay, as approved by the Government, corresponding to the pre-revised pay scale, will then be added to the Pay in the revised Pay Band. The total of pay in the Pay Band and grade pay will be the revised Basic Pay as on 1.1.2006.
* Rate of annual increments will be 3% and the rate of variable increment for high achievers in PB-3 will be 4%.
* There will be a uniform date of annual increment, viz. 1st July of every year. Employees completing 6 months and above in the revised pay structure as on 1st of July will be eligible to be granted the increment. The first increment after fixation of pay on 1.1.2006 in the revised pay structure will be granted on 1.7.2006 for those employees for whom the date of next increment was between 1st July, 2006 to 1st Jan 2007.
DA and other Allowances
* AICPI (IW) with base 2001 may, henceforth, be used for the purpose of calculating DA till it gets revised. The base using the 2001 series works out to be 115.76. Based on this index the revised DA as on Jan-06, July-06, Jan-07, July-07, Jan-08 and July-08 are estimated to be 0%, 3%, 6%, 9%, 12%, and 16% respectively (based on the calculation made as per index - Exact DA rates are yet to be confirmed by the Government).
* “Campus” restriction for grant of Transport Allowance will be removed. Consequently, employees living in campuses will also be eligible for Transport Allowance. Further, Transport Allowance for the employees at the lowest levels will be increased to Rs.600 (from Rs.400) in A-1/A class cities and Rs.400 (from Rs.300) in other towns.
* New TA - Employees drawing grade pay of Rs. 5400 and above will be eligible to receive TA of Rs.3200 and DA thereon (A1/A class cites) and Rs.1600 and DA thereon (other places. Similarly Employees drawing grade pay of Rs.4200 to Rs.4800 will be eligible to receive TA of Rs. Rs.1600 and DA thereon (A1/A class cites) and Rs.800 and DA thereon (other places). Employees drawing grade pay of below Rs. 4200 will be eligible to receive TA of Rs. 600 and DA thereon (A1/A class cites) and Rs.400 and DA thereon (other places).
* City Compensatory Allowance abolished.
* Employess living in X (Earlier classified as A-1), Y (Earlier classified as A, B-1 & B-2), and Z (Earlier classified as C and Unclassified) will be eligible for HRA of 30%, 20% and 10% (on Fixed Pay and Grade Pay) respectively.
* Children Education Allowance and Reimbursement of Tuition Fee are merged and reimbursement of Children Education allowance will be paid upto the maximum of Rs.1000 per child per month subject to a maximum of 2 children. Hostel subsidy will be reimbursed upto the maximum limit of Rs.3000 per month per child. The limits would be automatically raised by 25% every time the Dearness Allowance on the revised pay bands goes up by 50%.
* Cycle Allowance, Washing Allowance, Cash Handling Allowance, Special Allowance, Night Duty Allowance and Split Duty Allowance have been doubled. Similarly, rates of allowances specific to different Ministries/Departments/Organisations not covered in this Report will also be doubled. The rates of these allowances will be increased by 25% every time the Dearness Allowance payable on revised pay scales goes up by 50%.
* All provisions concerning travel under LTC are to be retained except frequency of travel in home town concession (up to three times during the first two blocks of 4 years after joining the service).
* The revised allowances, other than dearness allowance, will be effective from 1st day of September, 2008.
ACP (Assured Career Progression):
* Three upgradations will be granted under Assured Career Progression (ACP) Scheme at 10, 20 and 30 years as per the modified ACP Scheme recommended by the Commission. ACP Scheme will also be applicable to Group A employees.
* Financial upgradation through ACP will be available whenever a person has spent 10 years continuously in the same grade.
* Benefit of pay fixation available at the time of normal promotion shall be allowed at the time of financial upgradations under the scheme. Thus, an increase of 3% of pay and grade pay shall be available as financial upgradation under the scheme.
Other Points accepted by the Government:
* The Commission’s recommendation regarding payment of arrears has been modified to the extent that the arrears will be paid in cash in two instalments – first instalment of 40% during the current financial year (2008-09) and the remaining 60% in the next financial year (2009-10).
* The Government has approved setting up of Anomalies Committees to examine individual, post-specific and cadre-specific anomalies. The Anomalies Committees should endeavour to complete their work in one year.
Recommendations not accepted by the Government in Sixth Pay Commission:
* Liberal ‘severance package’ for those employees who want to leave service without pension with more than 15, but less than 20 years of service.
* Recommendation relating to Holiday Policy that there should only be three closed holidays for Government employees.
* Flexi-hours for women employees and flexi-weeks for employees with disabilities.
Recommendations of Sixth CPC which will be examined separately :
* Recommendation related to Bonus and Over Time Allowance.
* Recommendation related to General Provident Fund for Central Government employees and Central Government Employees Group Insurance Scheme.
* Introduction of Health Insurance Scheme for Central Government employees and pensioners.
Source: http://www.khabrein.info/
Sixth Pay Commission: States ask Centre to bear 50 pc burden of sixth pay revision
Sixth Pay Commission: States ask Centre to bear 50 pc burden of sixth pay revision
New Delhi, Sep 21 (PTI) Not keen on again bearing a financial stress that fell on them after implementation of the Fifth Pay
Commission, state governments want the Centre to share half the burden of pay revision of their employees, in case they go
for the next salary hike.
"The states would never forget the effect of the Centre's decision on recommendations of the Fifth Central Pay Commission
regarding pay revision on states' finances through consequences of pay revision at the states levels. This had resulted in a
financial crisis for the states," VAT panel said in its presentation to the 13th Finance Commission.
The Empowered Committee of state finance ministers on VAT said that during that time, the Centre had agreed to bear half of
the burden of the states but did not actually provide the assistance.
The VAT panel said the Sixth Pay Commission will "consequently cause the states to take certain decisions for the pay
structure of their employees and others with serious financial implications".
When the Centre announcing the pay revision, it is a general practice for states to go for pay revision of its employees.
Due to the Sixth Pay revision, the Centre will bear an additional burden of Rs 15,700 crore on the central budget and Rs
6,400 crore on the railway budget. PTI
Source: http://www.ptinews.com
New Delhi, Sep 21 (PTI) Not keen on again bearing a financial stress that fell on them after implementation of the Fifth Pay
Commission, state governments want the Centre to share half the burden of pay revision of their employees, in case they go
for the next salary hike.
"The states would never forget the effect of the Centre's decision on recommendations of the Fifth Central Pay Commission
regarding pay revision on states' finances through consequences of pay revision at the states levels. This had resulted in a
financial crisis for the states," VAT panel said in its presentation to the 13th Finance Commission.
The Empowered Committee of state finance ministers on VAT said that during that time, the Centre had agreed to bear half of
the burden of the states but did not actually provide the assistance.
The VAT panel said the Sixth Pay Commission will "consequently cause the states to take certain decisions for the pay
structure of their employees and others with serious financial implications".
When the Centre announcing the pay revision, it is a general practice for states to go for pay revision of its employees.
Due to the Sixth Pay revision, the Centre will bear an additional burden of Rs 15,700 crore on the central budget and Rs
6,400 crore on the railway budget. PTI
Source: http://www.ptinews.com
Sixth pay commission: Hike in pay scale, BMC employees to get richer
Hike in pay scale, BMC employees to get richer
Mumbai, September 20 Employees of the richest municipal corporation in the country will be richer in the coming months with
the Brihanmumbai Municipal Corporation (BMC) planning to spend Rs 1000 crore on its employees. BMC— with an annual budget of
Rs 16,000 crore—will make reforms in the pay scales of the employees.
Although the one lakh strong workforce of BMC does not come under the central or state government’s pay commission, the civic
administration will be making reforms in the pay scale. After a series of discussions and meetings with the employees’ union,
the civic body has decided to increase the pay scale applicable from April1, 2005.
Additional Municipal Commissioner Mahadeo Sangle said that each of the civic employees- from labourer to high ranking
official- will be applicable for the reformed pay scale. “The rise will be from 20 per cent to 48 per cent and will be
applicable from April 2005 as against the center’s sixth pay commission of January 2006,” he said. The higher salary will
burden the civic body by Rs 1000 crore. “But we are ready to spend that much on our employees. Revenue from octroi will be
used and adjusted to pay for the salaries,” Sangle added.
Although the reforms are yet to get the final approval, the civic administration has also proposed hike in house rent by 30
per cent. “Not everyone has a house in the city or get the provision of civic quarters. In such case we have doubled the
house rent from 15 per cent to 30 per cent as the property rates in the city are also sky-rocketing,” Sangle said. The
meetings with union will begin from September 22 and the reforms will be finalised in the coming days.
Source: http://www.indianexpress.com/
Mumbai, September 20 Employees of the richest municipal corporation in the country will be richer in the coming months with
the Brihanmumbai Municipal Corporation (BMC) planning to spend Rs 1000 crore on its employees. BMC— with an annual budget of
Rs 16,000 crore—will make reforms in the pay scales of the employees.
Although the one lakh strong workforce of BMC does not come under the central or state government’s pay commission, the civic
administration will be making reforms in the pay scale. After a series of discussions and meetings with the employees’ union,
the civic body has decided to increase the pay scale applicable from April1, 2005.
Additional Municipal Commissioner Mahadeo Sangle said that each of the civic employees- from labourer to high ranking
official- will be applicable for the reformed pay scale. “The rise will be from 20 per cent to 48 per cent and will be
applicable from April 2005 as against the center’s sixth pay commission of January 2006,” he said. The higher salary will
burden the civic body by Rs 1000 crore. “But we are ready to spend that much on our employees. Revenue from octroi will be
used and adjusted to pay for the salaries,” Sangle added.
Although the reforms are yet to get the final approval, the civic administration has also proposed hike in house rent by 30
per cent. “Not everyone has a house in the city or get the provision of civic quarters. In such case we have doubled the
house rent from 15 per cent to 30 per cent as the property rates in the city are also sky-rocketing,” Sangle said. The
meetings with union will begin from September 22 and the reforms will be finalised in the coming days.
Source: http://www.indianexpress.com/
Sixth Pay Commission: Uttar Pradesh's new taxes only for rich: Official
Sixth Pay Commission: Uttar Pradesh's new taxes only for rich: Official
20 Sep, 2008
LUCKNOW: A day after Uttar Pradesh hiked levies on laptops, mobile phones and airconditioners - among nearly 100 items - a top official on Saturday described it as a move to mobilise additional resources by "taxing the affluent".
Each of the items for which value added tax (VAT) has been hiked or an entry tax has been reintroduced are usually used by the rich, according to V S Pandey, principal secretary to Chief Minister Mayawati.
"A lot of care has been taken at the highest level to ensure that no item used by ordinary people is subjected to additional taxation," Pandey told.
According to him, "The additional tax on select items would mop up additional annual revenues of Rs 1,200 crores (Rs 12 bn)."
He said: "The state requires nearly Rs 5,000 crores (Rs 50 bn) to meet the burden on account of implementation of the Sixth Pay Commission report, so additional resources need to be mobilised."
The state government Friday night raised the VAT on various items. Entry tax that had been done away with by the previous government has also been reintroduced. While the entry tax varies between two and four percent, the hike in VAT ranges between 12 and 21 per cent as against the existing flat four percent.
Interestingly, the only item for which VAT has been reduced is 'bhang' - a popular intoxicant in semiurban and rural areas. The VAT on bhang has been reduced from 32 per cent to 12.5 per cent.
While cycle tyres have been exempted from the hike, all other tyres have been subjected to an entry tax.
Computers are going to cost more, with VAT going up from four percent to 12.5 per cent. Other items in the list include telephones, CDs, DVDs, wireless equipment and several other electronic gadgets.
The cost of machinery, tools, dyes as well as coffee powder, green tea, cocoa powder will also go up, with an identical rise in VAT from four percent to 12.25 per cent.
Turbine fuel and CNG have been subjected to the steepest hike - from one percent to 21 per cent.
Source: http://economictimes.indiatimes.com/
20 Sep, 2008
LUCKNOW: A day after Uttar Pradesh hiked levies on laptops, mobile phones and airconditioners - among nearly 100 items - a top official on Saturday described it as a move to mobilise additional resources by "taxing the affluent".
Each of the items for which value added tax (VAT) has been hiked or an entry tax has been reintroduced are usually used by the rich, according to V S Pandey, principal secretary to Chief Minister Mayawati.
"A lot of care has been taken at the highest level to ensure that no item used by ordinary people is subjected to additional taxation," Pandey told.
According to him, "The additional tax on select items would mop up additional annual revenues of Rs 1,200 crores (Rs 12 bn)."
He said: "The state requires nearly Rs 5,000 crores (Rs 50 bn) to meet the burden on account of implementation of the Sixth Pay Commission report, so additional resources need to be mobilised."
The state government Friday night raised the VAT on various items. Entry tax that had been done away with by the previous government has also been reintroduced. While the entry tax varies between two and four percent, the hike in VAT ranges between 12 and 21 per cent as against the existing flat four percent.
Interestingly, the only item for which VAT has been reduced is 'bhang' - a popular intoxicant in semiurban and rural areas. The VAT on bhang has been reduced from 32 per cent to 12.5 per cent.
While cycle tyres have been exempted from the hike, all other tyres have been subjected to an entry tax.
Computers are going to cost more, with VAT going up from four percent to 12.5 per cent. Other items in the list include telephones, CDs, DVDs, wireless equipment and several other electronic gadgets.
The cost of machinery, tools, dyes as well as coffee powder, green tea, cocoa powder will also go up, with an identical rise in VAT from four percent to 12.25 per cent.
Turbine fuel and CNG have been subjected to the steepest hike - from one percent to 21 per cent.
Source: http://economictimes.indiatimes.com/
Cabinet to decide on pay hike on September 23
Cabinet to decide on pay hike on September 23
20 Sep 2008
PANAJI: The state government is likely to implement the 6th Pay Commission's recommendations with effect from November 2008. The state cabinet will formally decide on the issue when it meets on September 23.
The finance secretary Udipta Ray, along with joint secretary Suresh Shanbogue gave a presentation to the cabinet about the implications of the 6th Pay Commission for Goa on Thursday.
Sources in the finance department said that the 46,000 strong government workforce will get hiked salaries from the month of November, which will be paid on November 30.
The average jump in salary for any government servant ranges from 30 to 35 per cent. This includes house rent allowance (HRA) which has gone up by around 15 to 20%.
The city compensatory allowance (CCA) has been abolished and travelling allowance (TA) put in its place. As the dearness allowance increases , so does the travelling allowance, sources said.
The annual increment will be 3% of basic pay, and the date of increments is uniformly set for July 1 every year to all employees. Full pension will be given after completion of 20 years, that is, 50% of last 10 months average emoluments, sources said.
Implementing the 6th Pay Commission recommendations will entail an additional burden of around Rs 25 crore per month on the government .
The overall liability on the government in terms of salaries and arrears for the period from January 1, 2006, to August 31, 2008, is around Rs 800 crore.
While these are some of the salient features of the 6th Pay Commission recommendations to be implemented in Goa, government employees are eagerly waiting for the cabinet to give its formal nod to the recommendations during its meeting on September 2.
Source: http://timesofindia.indiatimes.com
20 Sep 2008
PANAJI: The state government is likely to implement the 6th Pay Commission's recommendations with effect from November 2008. The state cabinet will formally decide on the issue when it meets on September 23.
The finance secretary Udipta Ray, along with joint secretary Suresh Shanbogue gave a presentation to the cabinet about the implications of the 6th Pay Commission for Goa on Thursday.
Sources in the finance department said that the 46,000 strong government workforce will get hiked salaries from the month of November, which will be paid on November 30.
The average jump in salary for any government servant ranges from 30 to 35 per cent. This includes house rent allowance (HRA) which has gone up by around 15 to 20%.
The city compensatory allowance (CCA) has been abolished and travelling allowance (TA) put in its place. As the dearness allowance increases , so does the travelling allowance, sources said.
The annual increment will be 3% of basic pay, and the date of increments is uniformly set for July 1 every year to all employees. Full pension will be given after completion of 20 years, that is, 50% of last 10 months average emoluments, sources said.
Implementing the 6th Pay Commission recommendations will entail an additional burden of around Rs 25 crore per month on the government .
The overall liability on the government in terms of salaries and arrears for the period from January 1, 2006, to August 31, 2008, is around Rs 800 crore.
While these are some of the salient features of the 6th Pay Commission recommendations to be implemented in Goa, government employees are eagerly waiting for the cabinet to give its formal nod to the recommendations during its meeting on September 2.
Source: http://timesofindia.indiatimes.com
Sixth Pay Commission: States demand share of taxes
Agartala, Sept. 19: The northeastern states, including Sikkim, have demanded 10 per cent of the total devolution of funds
from taxes from the Centre, while supporting the demand for 50 per cent of the devolution to all states.
The demand was raised at a meeting of the newly constituted 13th Finance Commission, headed by economist and tax specialist
B.K. Kelkar in New Delhi on September 16.
Though the 13th Finance Commission gave no assurance, the members of the commission as well as the chairman indicated that
the matter would be considered seriously.
“The 12th Finance Commission had recommended devolution of 30 per cent of the tax-based income to states but this has proved
to be inadequate, so we demanded 50 per cent devolution from the 13th Finance Commission,” said Tripura finance minister
Badal Chowdhury.
The minister said going by the recommendations of the 12th Finance Commission, except Assam, the remaining seven northeastern
states, including Sikkim, received less than one per cent each.
“In case our demand is accepted, 10 per cent of the funds on the head of devolution of taxes will be earmarked for the
Northeast and that will take care of the gap in non-plan funds,” Chowdhury said.
“The implementation of the Sixth Pay Commission by the Centre has brought tremendous pressure on the states, and the Centre
must help by bearing at least 50 per cent of the additional liability,” the minister added.
On behalf of the eight northeastern states, which belong to the special category, the demand has been raised for the Centre
to bear the full liability on the implementation of the recommendations of the Pay Commission.
“We have requested the Finance Commission to look into the matter and make later adjustments with the non-plan gap grants,”
said Tripura finance minister.
The minister said the issue of the Centre not sharing the collections of surcharges and cess with the states also figured in
the discussion.
At the meeting , the issue of Centre-sponsored schemes was primarily discussed.“Most of the centrally sponsored schemes are
based on subjects which fall under the jurisdiction of the states. The Centre should share more funds,” Chowdhury said.
“We have been told the Finance Commission will start visiting states from November this year and is expected in the Northeast
by March next year,” Badal said.
Source: http://www.telegraphindia.com
from taxes from the Centre, while supporting the demand for 50 per cent of the devolution to all states.
The demand was raised at a meeting of the newly constituted 13th Finance Commission, headed by economist and tax specialist
B.K. Kelkar in New Delhi on September 16.
Though the 13th Finance Commission gave no assurance, the members of the commission as well as the chairman indicated that
the matter would be considered seriously.
“The 12th Finance Commission had recommended devolution of 30 per cent of the tax-based income to states but this has proved
to be inadequate, so we demanded 50 per cent devolution from the 13th Finance Commission,” said Tripura finance minister
Badal Chowdhury.
The minister said going by the recommendations of the 12th Finance Commission, except Assam, the remaining seven northeastern
states, including Sikkim, received less than one per cent each.
“In case our demand is accepted, 10 per cent of the funds on the head of devolution of taxes will be earmarked for the
Northeast and that will take care of the gap in non-plan funds,” Chowdhury said.
“The implementation of the Sixth Pay Commission by the Centre has brought tremendous pressure on the states, and the Centre
must help by bearing at least 50 per cent of the additional liability,” the minister added.
On behalf of the eight northeastern states, which belong to the special category, the demand has been raised for the Centre
to bear the full liability on the implementation of the recommendations of the Pay Commission.
“We have requested the Finance Commission to look into the matter and make later adjustments with the non-plan gap grants,”
said Tripura finance minister.
The minister said the issue of the Centre not sharing the collections of surcharges and cess with the states also figured in
the discussion.
At the meeting , the issue of Centre-sponsored schemes was primarily discussed.“Most of the centrally sponsored schemes are
based on subjects which fall under the jurisdiction of the states. The Centre should share more funds,” Chowdhury said.
“We have been told the Finance Commission will start visiting states from November this year and is expected in the Northeast
by March next year,” Badal said.
Source: http://www.telegraphindia.com
Yamaha FZ16
Yamaha launches new FZ16
Yamaha India launched yet another stunning motorcycle in the 150cc segment last weekend in Goa. The new bike is called FZ16
and it is aimed to target the youth with its aggressive styling and street-fighter looks. The bike is powered by a 153.0cc
power plant and packs in 14PS of power available at 7,500rpm and 13.6Nm of torque developed at 6,000rpm.
The cycle parts too are top-notch like the 41mm front forks and a Monocross rear suspension. The instrumentation upfront is
all-digital with even the tachometer displaying the revs in a digital format.
Yamaha has done a great job in terms of paying attention to details on the FZ16 and this bike is definitely the hottest
looking motorcycle of its class!
Speaking to the media during the launch, CEO and Managing Director, Mr. Tsutomu Mabuchi said, "With the launch of FZ 16,
Yamaha is poised to provide Indian bike enthusiasts with both a rough and brutish expression as well as a certain subtlety.
The FZ16 will be a more potent bike in Yamaha's product placement than the race-focused YZFR15 as it will offer the 'average
joe' the perfect balance of looks, performance and value-formoney. Yamaha has hit the right notes with FZ's pricing and the
company astonished not only its rivals but also the entire Indian motorcycle community when it announced an exshowroom price
of Rs 65,000 for the FZ16.
Source: http://economictimes.indiatimes.com
Yamaha FZ
Yamaha FZ 150
Yamaha Motor India Limited is ready to launch FZ 150 on Indian roads by the
end of this year. Yamaha FZ 150 will take on its arch rival Bajaj Pulsar
directly and will tempt the owners of the economy 150 cc motorcycles. The bike
has all the latest technology features that the customer craves for. The stylish
yet innovative FZ 150 has macho and muscular looks redefining the 150cc bikes
segment.
The Price ranges would be around Rs. 70,000 – 80,000.
Yamaha FZ 150 is surely is one of the best looking naked bike in its class
with its macho and muscular looks. The macho tank, aggressive front heavy stance
and the rear embody with street fighter looks will make you fall for it. FZ 150
will be powered by single-cylinder, four-stroke, four-valve, fuel-injected 150cc
engine. The bike would weigh about 124 kg and the top speed will be around 140
km/h.
Design elements that make the FZ series look the way it does:
1. Big center mass
2. Condensation, no open areas. Everything is tight, lithe and muscular.
3. Tough looking front forks.
4. Tough looking chassis.
5. Midship Stubby silencer.
6. Wide Macho tyres
7. High contrast and rugged shaped body parts.
Tags: Yamaha FZ 150
Source: http://indianewslive.com
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