Sixth Pay Commission: Power deficit to hit India
Aug. 29: The Reserve Bank of India (RBI) in its annual report has warned that the sustained high projected rates of growth in the economy would be hampered if the problem of power shortage is tackled properly.
The annual report released on Friday said that during 2007-08 only 9,263 mega watt (MW) capacity was added against a target of 16,335 MW.
The RBI said the slow progress in capacity addition has accentuated the power supply deficits and any slippage in achieving the targets may worsen the situation further in the face of increasing demand for power from industry and other sectors.
The RBI has adviced the Central government to undertake a co-mprehensive agriculture revamp programme "as a policy priority to increase the production of varieties like wheat and pulses."
Furthermore, a regionally differentiated agricultural strategy needs to be implemented taking into account the local resource endowments, capabilities as well as restrains, it said.
The RBI has warned that finances of the Central government may come under pressure with the implementation of the Sixth Pay Commission, loss of revenues on account of reduction in duties on petroleum products, likely increase in fertiliser subsidy and the implementation of debt waiver and debt relief scheme for farmers.
Additionally, as the government may incur increasing liabilities towards issuance of oil and fertilisers bonds, the level of public debt will be impacted on.
The Reserve Bank of India has suggested that in its order to ensure that fiscal imbalances does not diverge from the budget estimates, "efforts are needed to improve tax buoyancy through widening tax base and further improvement in the tax administration."
Tags: 6th Pay Commission,Sixth Pay Commission
Source: http://howrah.org/business/26549.html
Saturday, August 30, 2008
Sixth Pay Commission: Gujarat Govt to study sixth pay commission hike
With the aim to increase the salary of the employees by 20%, the Gujarat government has taken up the decision to set up a babus’ committee on suggestion of the Centre's sixth pay commission award.
Jay Narayan Vyas, spokesperson of the Govt. informed soon after the Cabinet meeting was over, “The secretaries' committee will submit its report to the Cabinet sub-committee, formed early this year on what the sixth pay commission may mean to Gujarat.”
This announcement came due to the suggestion passed on Wednesday to the Cabinet that before putting the sixth pay panel suggestions into action, the official should first examine it properly. “The official committee will submit its report to the sub-committee, which in turn will get Cabinet nod before putting the sixth pay panel recommendations into gear,” reported Vyas.
Source: http://www.topnews.in
Jay Narayan Vyas, spokesperson of the Govt. informed soon after the Cabinet meeting was over, “The secretaries' committee will submit its report to the Cabinet sub-committee, formed early this year on what the sixth pay commission may mean to Gujarat.”
This announcement came due to the suggestion passed on Wednesday to the Cabinet that before putting the sixth pay panel suggestions into action, the official should first examine it properly. “The official committee will submit its report to the sub-committee, which in turn will get Cabinet nod before putting the sixth pay panel recommendations into gear,” reported Vyas.
Source: http://www.topnews.in
Sixth pay commission notification 2008
Notification issued for Sixth Pay Commission implementation
New Delhi, Aug 30, 2008: Finally the government today issued notification for implementing Sixth Pay Commission recommendations.
The day was being awaited with bated breath by more than five million central government employees. The Union cabinet had approved the recommendations of the sixth pay panel suggestions on 14 August and had made several improvement over the original suggestions made by the central pay panel.
The notification means that the central government employees are all set to receive the revised pay as approved by the government from September 1, giving a much needed relief to central government employees who like others have been hit hard by increasing inflation and spiraling prices.
The implementation of the pay panel recommendations would require huge amount of money that experts say would increase the deficit. The financial implications in 2008-09 on account of the implementation of the recommendations of the Sixth Central Pay Commission as modified by the Cabinet will be around Rs.15700 crore on the Central Budget and Rs.6400 crore on the Railway Budget
It is being said that modification of the Pay Commission award will cost the exchequer an additional Rs 5,000 crore towards annual wages and Rs 6,000 crore towards arrears, said Expenditure Secretary Sushma Nath.
The notification issued by the government today says, “With regard to fixation of pay in the revised pay bands, 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 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.
Increment: rate of annual increment will be modified from 2.5% recommended by the commission to 3% and the rate of variable increment for high achievers in PB-3 will be 4% instead of 3.5% recommended by the commission.
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 existing Rs 400 in A-1/A class cities and Rs 400 from existing Rs 300 in other towns.
Three upgradation 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.
After 4 years of regular services in the entry grade of Rs 4800 in PB-2 officers belonging to Delhi and Andaman and Nicobar islands police service will be granted the non-functional grade of Rs 5400 in PB3 and not in PB-2.
After 4 years of regular service in the section officer/ private secretary/equivalent grade of Rs 4800 grade pay in PB-2 officers of central secretrait service, central secretrait stenographers service and other similarly placed HQ services will be granted the non-functional grade of Rs 5400 in PB3 and not in PB-2.
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 percent in the next financial year 2009-10.
The revised allowances other than dearness allowance will be effective from 1st day of September 2008.
The government while modifying the recommendations has accepted the suggestion of the pay panel for four pay bands with 20 grade pays.
Source: khabrein.info
New Delhi, Aug 30, 2008: Finally the government today issued notification for implementing Sixth Pay Commission recommendations.
The day was being awaited with bated breath by more than five million central government employees. The Union cabinet had approved the recommendations of the sixth pay panel suggestions on 14 August and had made several improvement over the original suggestions made by the central pay panel.
The notification means that the central government employees are all set to receive the revised pay as approved by the government from September 1, giving a much needed relief to central government employees who like others have been hit hard by increasing inflation and spiraling prices.
The implementation of the pay panel recommendations would require huge amount of money that experts say would increase the deficit. The financial implications in 2008-09 on account of the implementation of the recommendations of the Sixth Central Pay Commission as modified by the Cabinet will be around Rs.15700 crore on the Central Budget and Rs.6400 crore on the Railway Budget
It is being said that modification of the Pay Commission award will cost the exchequer an additional Rs 5,000 crore towards annual wages and Rs 6,000 crore towards arrears, said Expenditure Secretary Sushma Nath.
The notification issued by the government today says, “With regard to fixation of pay in the revised pay bands, 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 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.
Increment: rate of annual increment will be modified from 2.5% recommended by the commission to 3% and the rate of variable increment for high achievers in PB-3 will be 4% instead of 3.5% recommended by the commission.
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 existing Rs 400 in A-1/A class cities and Rs 400 from existing Rs 300 in other towns.
Three upgradation 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.
After 4 years of regular services in the entry grade of Rs 4800 in PB-2 officers belonging to Delhi and Andaman and Nicobar islands police service will be granted the non-functional grade of Rs 5400 in PB3 and not in PB-2.
After 4 years of regular service in the section officer/ private secretary/equivalent grade of Rs 4800 grade pay in PB-2 officers of central secretrait service, central secretrait stenographers service and other similarly placed HQ services will be granted the non-functional grade of Rs 5400 in PB3 and not in PB-2.
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 percent in the next financial year 2009-10.
The revised allowances other than dearness allowance will be effective from 1st day of September 2008.
The government while modifying the recommendations has accepted the suggestion of the pay panel for four pay bands with 20 grade pays.
Source: khabrein.info
UK to provide 150,000 pounds to help Bihar flood victims (www.ptinews.com)
London, Aug 29 (PTI) Britain today announced that it would provide 150,000 pounds (about Rs 1.2 Crore) to help flood victims
in Bihar where more than 2.6 million people in 15 districts have been affected.
The British government's Department for International Development (DFID) said it has asked UNICEF to redirect 150,000 pounds
of an existing Trust Fund for immediate assistance to those who have been made homeless by the severe floods in the
impoverished Indian state.
The funding will be used to supply up to 20 camps, which currently house 10,000 displaced families, with clean water, shelter
and sanitation.
"The situation in Bihar is particularly serious and the UK has responded quickly to provide help to those affected," said
Shahid Malik, Britain's International Development Minister.
He said Britain was in contact with the Government of Bihar "and are on standby to step up assistance if needed". "We will
continue to monitor the situation closely," he added.
The situation in Bihar is particularly serious following a 2-km breach in the eastern embankment of Kosi River in Kusha on
the Indo-Nepal border, which occurred on August 18. More than 2.6 million people in 15 districts of Bihar have been affected
by the disaster. PTI
Source: http://www.ptinews.com
in Bihar where more than 2.6 million people in 15 districts have been affected.
The British government's Department for International Development (DFID) said it has asked UNICEF to redirect 150,000 pounds
of an existing Trust Fund for immediate assistance to those who have been made homeless by the severe floods in the
impoverished Indian state.
The funding will be used to supply up to 20 camps, which currently house 10,000 displaced families, with clean water, shelter
and sanitation.
"The situation in Bihar is particularly serious and the UK has responded quickly to provide help to those affected," said
Shahid Malik, Britain's International Development Minister.
He said Britain was in contact with the Government of Bihar "and are on standby to step up assistance if needed". "We will
continue to monitor the situation closely," he added.
The situation in Bihar is particularly serious following a 2-km breach in the eastern embankment of Kosi River in Kusha on
the Indo-Nepal border, which occurred on August 18. More than 2.6 million people in 15 districts of Bihar have been affected
by the disaster. PTI
Source: http://www.ptinews.com
Sixth Pay Commission: Govt notifies revised pay panel report
New Delhi, Aug. 29: Over 50 lakh government employees, including the armed forces personnel, will be receiving an enhanced
pay packet beginning September 1, with the government on Friday notifying the revised recommendations of the Sixth Central
Pay Commission (CPC).
The much-awaited CPC proposals RPT proposals had received a seal of approval from the Union cabinet a fortnight ago after it
amended certain recommendations of the Justice Sri Krishna-led Pay Commission that submitted its report to the government on
March 24, 2008. The CPC recommendations and the government decision, with regard to revised scales of pay and dearness
allowance for civilian employees of the Central government, would be made retrospectively effective from January 1, 2006, the
notification said.
However, the revised allowances, other than dearness allowance, would be effective only from September 1, 2008. On payment of
arrears, the government has modified to the extent that the arrears would be paid in cash in two instalments. —PTI
Tags: Sixth Central Pay Commission (CPC),6th Central Pay Commission (CPC),Sixth Pay Commission,6th Pay Commission,Sixth Pay
Commission News,Sixth Pay Commission Latest News
Source: http://howrah.org/india_news/26555.html
pay packet beginning September 1, with the government on Friday notifying the revised recommendations of the Sixth Central
Pay Commission (CPC).
The much-awaited CPC proposals RPT proposals had received a seal of approval from the Union cabinet a fortnight ago after it
amended certain recommendations of the Justice Sri Krishna-led Pay Commission that submitted its report to the government on
March 24, 2008. The CPC recommendations and the government decision, with regard to revised scales of pay and dearness
allowance for civilian employees of the Central government, would be made retrospectively effective from January 1, 2006, the
notification said.
However, the revised allowances, other than dearness allowance, would be effective only from September 1, 2008. On payment of
arrears, the government has modified to the extent that the arrears would be paid in cash in two instalments. —PTI
Tags: Sixth Central Pay Commission (CPC),6th Central Pay Commission (CPC),Sixth Pay Commission,6th Pay Commission,Sixth Pay
Commission News,Sixth Pay Commission Latest News
Source: http://howrah.org/india_news/26555.html
Zenith's Ecostyle laptop for Rs.14,999 (www.merinews.com)
Zenith's Ecostyle laptop for Rs.14,999 (www.merinews.com)
Zenith announces the launch of a new laptop and a desktop under the brand name, "Ecostyle. The laptop will come with a price
tag of Rs 14,999 and the desktop for Rs 11,999 available at its authorised dealers and exclusive showrooms from October.
ZENITH COMPUTERS announced the launch of a new laptop and a desktop under the brand name, "Ecostyle." The Zenith Ecostyle
laptop, carrying a price tag of Rs 14, 999 would be the lowest priced windows operating system enabled laptop in the market.
These products are launched in collaboration with global software giant Microsoft. The desktop PC will be available for Rs
11, 999. Zenith’s chain of authorised dealers and exclusive showrooms will sport the EcoStyle PC and laptop across the
country from October, this year.
The laptop will be bet enabled and will come with a preloaded Microsoft productivity suite: an Operating System-Windows XP
Home Edition. Also comes with it the Microsoft works, which includes word processor, spreadsheets and PPT viewer. Lastly it
would have Microsoft Windows Live Suite with email client, messenger and family safety from Windows Live OneCare.
Moreover the Ecostyle PC will offer its customer an option of choosing from Windows Vista Starter or Microsoft Windows XP
Home. The laptop would be easy to carry as it would weigh 2.2 kg and have dimensions of 185mm x 250mm x 70mm. The desktop PC
will also come preloaded with the Microsoft Productivity Suite.
Raj Sarf, CMD of Zenith said that the low cost and high quality computers would make a deep penetration in the Indian
economy. Zenith is currently producing around 20,000 units in its manufacturing unit in Goa and plans to increase its
capacity by thousands in the coming months.
The company further boasts that in addition to the portability and relevant content, both the computers would have an added
advantage of reduced power consumption. It is being said that the computers would consume 30 per cent less power than other
computers. Along with energy efficiency they do not contain any toxic materials.
Source: http://www.merinews.com
Zenith announces the launch of a new laptop and a desktop under the brand name, "Ecostyle. The laptop will come with a price
tag of Rs 14,999 and the desktop for Rs 11,999 available at its authorised dealers and exclusive showrooms from October.
ZENITH COMPUTERS announced the launch of a new laptop and a desktop under the brand name, "Ecostyle." The Zenith Ecostyle
laptop, carrying a price tag of Rs 14, 999 would be the lowest priced windows operating system enabled laptop in the market.
These products are launched in collaboration with global software giant Microsoft. The desktop PC will be available for Rs
11, 999. Zenith’s chain of authorised dealers and exclusive showrooms will sport the EcoStyle PC and laptop across the
country from October, this year.
The laptop will be bet enabled and will come with a preloaded Microsoft productivity suite: an Operating System-Windows XP
Home Edition. Also comes with it the Microsoft works, which includes word processor, spreadsheets and PPT viewer. Lastly it
would have Microsoft Windows Live Suite with email client, messenger and family safety from Windows Live OneCare.
Moreover the Ecostyle PC will offer its customer an option of choosing from Windows Vista Starter or Microsoft Windows XP
Home. The laptop would be easy to carry as it would weigh 2.2 kg and have dimensions of 185mm x 250mm x 70mm. The desktop PC
will also come preloaded with the Microsoft Productivity Suite.
Raj Sarf, CMD of Zenith said that the low cost and high quality computers would make a deep penetration in the Indian
economy. Zenith is currently producing around 20,000 units in its manufacturing unit in Goa and plans to increase its
capacity by thousands in the coming months.
The company further boasts that in addition to the portability and relevant content, both the computers would have an added
advantage of reduced power consumption. It is being said that the computers would consume 30 per cent less power than other
computers. Along with energy efficiency they do not contain any toxic materials.
Source: http://www.merinews.com
Sixth Pay Commission: Govt notifies sixth Pay Panel report
NEW DELHI: Over 50 lakh government employees, including the armed forces personnel, will be receiving an enhanced pay packet
beginning September 1, with the government on Friday notifying the revised recommendations of the Sixth Central Pay
Commission (CPC).
The much-awaited CPC had received a seal of approval from the union cabinet a fortnight ago after it amended certain
recommendations of the Justice Sri Krishna-led Pay Commission that submitted its report to the government on March 24 this
year.
Earlier, the government said it will pay its 50 lakh strong workforce an additional Rs 11,000 crore over the pay hike of Rs
30,000 crore, including arrears recommended by the Sixth Pay Commission in March.
The modification of the Pay Commission award will cost the exchequer an additional Rs 5,000 crore towards annual wages and Rs
6,000 crore towards arrears, said Expenditure Secretary Sushma Nath.
The original recommendations of the Sixth Pay Commission would have entailed an additional expenditure of Rs 12,000 crore in
annual wage bill and Rs 18,000 crore towards arrears.
However, prompted by the protest from several quarters, including representations from the defence forces, the government
appointed a high-powered committee under the chairmanship of Cabinet Secretary K M Chandrasekhar to suggest improvement in
the Pay Commission award.
Tags: Sixth Central Pay Commission (CPC),6th Central Pay Commission (CPC),Sixth Pay Commission,6th Pay Commission,Sixth Pay
Commission News,Sixth Pay Commission Latest News
Source: http://economictimes.indiatimes.com
beginning September 1, with the government on Friday notifying the revised recommendations of the Sixth Central Pay
Commission (CPC).
The much-awaited CPC had received a seal of approval from the union cabinet a fortnight ago after it amended certain
recommendations of the Justice Sri Krishna-led Pay Commission that submitted its report to the government on March 24 this
year.
Earlier, the government said it will pay its 50 lakh strong workforce an additional Rs 11,000 crore over the pay hike of Rs
30,000 crore, including arrears recommended by the Sixth Pay Commission in March.
The modification of the Pay Commission award will cost the exchequer an additional Rs 5,000 crore towards annual wages and Rs
6,000 crore towards arrears, said Expenditure Secretary Sushma Nath.
The original recommendations of the Sixth Pay Commission would have entailed an additional expenditure of Rs 12,000 crore in
annual wage bill and Rs 18,000 crore towards arrears.
However, prompted by the protest from several quarters, including representations from the defence forces, the government
appointed a high-powered committee under the chairmanship of Cabinet Secretary K M Chandrasekhar to suggest improvement in
the Pay Commission award.
Tags: Sixth Central Pay Commission (CPC),6th Central Pay Commission (CPC),Sixth Pay Commission,6th Pay Commission,Sixth Pay
Commission News,Sixth Pay Commission Latest News
Source: http://economictimes.indiatimes.com
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