Monday, February 25, 2013

Rail Budget 2013-14: Train travel may cost more with passenger amenities cess

Rail Budget 2013-14: Train travel may cost more with passenger amenities cess

Train travel is expected to get costlier, said sources a day ahead of the Rail Budget 2013. According to sources, the government is likely to introduce a fuel adjustment component and a passenger amenities cess which will contribute to a hike in fares.

Train travel is expected to get costlier, said sources a day ahead of the Rail Budget 2013 . According to sources, the government is likely to introduce a fuel adjustment component and a passenger amenities cess which will contribute to a hike in fares. The Rail Budget 2013 may not be as populist as the people expect it to be.


The Rail Budget 2013 will be the the first by a Congress minister in 17 years and is likely to pinch you a bit more.

However, there is good news in the offing. Sources say that an additional Rajdhani is likely to be introduced between Delhi and Mumbai. Two are already running between the two destinations.

Also, several railway works could come under the MNREGA, the flagship programme of the UPA which would widen the programme's scope. Reportedly, Rural Development Minister Jairam Ramesh has accepted this proposal of the Railway Ministry.

Trinamool Congress, however, is not pleased. TMC leader Saugata Roy said, "We oppose the 20 per cent hike introduced last time. Future price hike is opposed."

Source: Money Control

Railway Budget 2013 : Six stocks to watch out ahead of Railway Budget 2013-14

Railway Budget 2013 : Six stocks to watch out ahead of Railway Budget 2013-14

The Railway Budget is generally viewed as a precursor to the Union Budget 2013-14, due later this week. Railway minister Pawan Kumar Bansal will present the Railway Budget on Tuesday, February 26.

The curiosity about the upcoming Railway Budget with the budget announcement for 2013 - 2014 is obvious as the Indian Railways sprawls a huge network of rail tracks throughout the country.

"The condition of the railway department has been deteriorating day by day. The Indian Railways, which carries over 25 million passengers daily, has witnessed total earnings growth 20.4 per cent during the period between April2012-January201 compared to a growth of 27.6 per cent which was projected in the Budget estimates," said D.K. Aggarwal, CMD-SMC Investments & Advisors Ltd.

In the year 2012, Indian Railways hiked passenger fares by 21 per cent to curb the mounting losses. The hike in the fare has helped mop up additional revenue of Rs 6,600 crore in a year. However, the diesel price hike of Rs 10.8 per litre has put additional burden of Rs 3,300 crore annually.

"After raising the railway fares in January, the Railway Ministry is mulling another round of fare hike in the upcoming Rail Budget 2013-14. It is expecting a good chunk of helping hand from the government in this Budget," added Aggarwal.

Aggarwal is of the view that stocks like Titagarh wagons, Kalindee Rail, Bharat Earth Movers and Texmaco generally get attraction before the announcements of the Rail Budget as these are the companies that generally get benefited by the capital spending of the Railways.

We have compiled technical views on top six stocks which are likely to move on and after the Railway Budget day:

Ranajit Kumar Saha, Senior Manager- Technical Research at Microsec Capital Ltd


BEML:

After making a low of Rs 235 on 15th February, 2013, the BEML has given a pullback rally of almost 7.6 per cent in last five successive trading sessions. Now the stock is likely to face a stiff resistance at Rs 271.

If the stock is able to maintain above this level, an upward rally might carry it to Rs 330 in the extreme short term. We recommend initiating long positions on the stock with a stop loss at Rs 210.

Titagarh Wagons Ltd:

Titagarh Wagons Ltd (TWL) is in continuous downtrend since the last two years. The immediate crucial support of the stock is at Rs 250 and a breach of this level is likely to take the stock lower to Rs 210 and then Rs 185. We recommend holding long positions in the stock with strict stop loss of Rs 250.

Texmaco Rail & Engineering Ltd:

The short-term crucial support of TEXRAIL is at Rs 58, near 200 DMA. If the stock breaches this level, the short term trend would become negative and the stock may further go down to Rs 50. We recommend holding long positions in the stock with stop loss of Rs 50.

Source: ET

INDWF proposals for General Budget 2013

General Budget 2013 – INDWF proposals for General Budget 2013

NDWF/PM/Budget/2013 19.01.2013

To
Hon’blePrime Minister,
Government of India,
New Delhi 110 011.

Sub: General Budget 2013 – INDWF proposals for General Budget 2013

Sir,
Indian National Defence Workers Federation affiliated to Indian National Trade Union Congress is the Federation of around 300 unions in the Defence Civilian Sector consisting of around more than 1 lac employees as its members

GENERAL BUDGET 2013 – Consideration of INDWF’s Proposals:

INDWF requests the Hon’ble Finance Minister to kindly consider the following proposals for inclusion in the General Budget 2013 which would provide relief to over 34 lac of Central Government Employees (including 3.5 lacs of Defence Civilian employee) and also other workers.

1. Annual income amounting to Rs.5 lacs may be exempted from the purview of income tax in view of steep rise in prices of essential commodities.

2. Since the percentage of Dearness Allowance has crossed 50% of pay long ago there is thus immediate need for setting up of VII Central Pay Commission, alternatively, the Government may consider setting up of Permanent Wage Revision Board.

3. 50% DA may be merged with pay as was done in the year 2004.

4. Bonus Act to be amended for ensuring payment of Bonus including that of Productivity Linked Bonus (PLB) on actual monthly wages, alternatively, the limit may be enhanced to Rs.10, 000 for payment of PLB to Defence Civilian Employees.

5. New Pension Scheme for the employees joined Government services after 01.01.2004 is anti-worker and anti-staff. NPS does not carry safe guards admissible under the Pension Rules 1993; The New Pension Scheme needs to be scrapped.

6. Additional pension be allowed to the retired Central Government employees on attaining 70 years of age.

7. INDWF proposed upward revision of retirement age on superannuation from 60 to 62 years in the wake of mass retirements during the coming years, as it is possible that there may be shortage of skilled and qualified personnel.

8. Thousands of contract workers have been engaged in the Public and Private Sector industries with a meager salary. This way, the exploitation of poor labourers is going on unabatedly. We are demanding abolition of contract labour system in all the industries, particularly the Government owned sectors. Till such time a policy is framed, we propose that the same remuneration as that of permanent workers be paid to the contract workers as well as outsourced workers.

9. The perks/fringe benefits presently being availed by the workers including private sector workers as incentive be considered for exemption from the taxes.

10. Transport Allowance paid to the Central Government employees including Defence Employees may be exempted from the purview of income tax.

11. Children Education Allowance being re-imbursed to all the employees for their school going children to the tune of Rs.15,000/- per child per year, but the same is being taxed, only a rebate of Rs.40 per annum. Hence, it is requested to exempt the Children Education Allowance from the purview of Income Tax to the full extent of the allowance paid to the employee.

12. For adequate career growth of Teachers and Lecturers of Central Government Institutions particularly in Ordnance Factories, the Modified Assured Career Progression Scheme (MACP) may be made applicable to them.

INDWF is confident that the Hon’ble Finance Minister would give serious consideration to the above proposals for making Budget announcements.

Thanking you,

Yours Sincerely,
(R.SRINIVASAN)
General Secretary.

SUCCESS OF TWO-DAYS STRIKE BY Central Government EMPLOYEES ALONGWITH WORKING CLASS OF INDIA.

SUCCESS OF TWO-DAYS STRIKE BY CENTRAL GOVERNMENT EMPLOYEES ALONGWITH WORKING CLASS OF INDIA.

PRESS STATEMENT


About 8 lakhs Central Government employees took part in the 48 hour (two day) general strike yesterday and today organised by the Indian working class as per the call of the Joint platform of 11 Central Trade Unions of the country. Besides 5 lakh Defence Civilian employees are also reported to have participated in this historic action.

The Strike was total and cent per cent in Income tax and Postal departments. The participation ranged from 60 to 90% in other Government of India organisations except in the Central Secretariat. As per the report, the strike was total in Assam, Tripura, West Bengal, Orissa, Bihar Andhra Pradesh, Tamilnadu, Kerala, Chhattisgarh and 60 to 70% in Rajasthan, Gujarat, Madhya Pradesh, Punjab, Haryana and partial in other States.

In Delhi, the Income tax and RMS offices of the Postal Department virtually remained closed. Not a single employee reported for duty in these offices. Many offices of the Civil Accounts and Post offices in Delhi also did not function on these two days.

Many establishments of Printing and Stationery, Indian Bureau of Mines, Geological Survey of India, Medical Depots, Customs, Ground Water Board, ISRO, Directorate of Marketing Inspection, Civil Accounts, Central Public Works Department remained closed throughout the country on both the days.

The National Secretariat of the Confederation places on record its sincere gratitude and appreciation of the efforts undertaken by the State/Branch level leaders to make this historic action of the Indian working class a resounding success by eliciting the total participation of the Central Government employees. The success of the two days strike action will no doubt embolden the employees and workers to chalk out intensified action programme including indefinite strike action to compel the Govt. to rescind the anti-people economic policies pursued since 1991.

K.K.N. Kutty
Secretary General.

PCDA Pension Orders 2013 : Counting of former service in respect of employees covered under New Pension Scheme.

Counting of former service in respect of employees covered under New Pension Scheme.

OFFICE OF THE PR. CONTROLLER OF DEFENCE ACCOUNTS (PENSION)
DRAUPADI GHAT, ALLAHABAD- 211014

Circular No. 103.

Dated :- 8th February 2013

To,
----------------------------------------------
----------------------------------------------
----------------------------------------------
----------------------------------------------
(All Heads of Department under Ministry of Defence)

Subject : Counting of former service in respect of employees covered under New Pension Scheme.

As per existing practice Audit Report for counting of former service in respect of Defence Civilian Employees covered under old pension scheme is being rendered by the Office of the PCDA (P) Allahabad. However, consequent upon introduction of New pension scheme w.e.f. 01-01-2004, this office has stopped rendering audit report for counting of former service in r/o employees covered under New pension scheme. Now, it has been decided that this office will continue to Render Audit report to those employees who are covered under New Pension scheme till finalization of NPS Rules.

2.Therefore it is advised to forward affected cases as well as returned cases to render Audit Report.

No.GI/C/Misc/NPS-I/Tech.
Dated: 8th February 2013

sd/-
(ALOK PATNI)
ACDA(P)

Source: www.pcdapension.nic.in
[http://pcdapension.nic.in/6cpc/Circular-103.pdf]

PCDA Pension Orders 2013 : Revision of pension of Pre-2006 pensioners - reg.

OFFICE OF THE PR. CONTROLLER OF DEFENCE ACCOUNTS (PENSION)
DRAUPADI GHAT, ALLAHABAD- 211014

Circular No.102.

Dated :- 11th February 2013.

To,
The Treasury Officer
The PO- Master, Kathua, Srinagar (J&K)
The PO- Master, Campbell Bay (Andman & Nicobar)
The Defence Pension Disbursing Officer
--------------------------------
Pay & Accounts Officer
--------------------------------
Military & Air Attache, Indian Embassay, Kathmandu, Nepal (through Gorkha
Record Officer, Kurnaghat, Gorakhpur)
Director of Accounts, Panji (Goa)
Finance Secretary, Gangtok, PO-I, Thimpu Bhutan
The General Manager (Nodal Officer, PSBs)
All Managers, CPPC of Public Sector Banks.
All Managers, CPPC of Authorized Private Banks.

Subject : Revision of pension of Pre-2006 pensioners - reg.

Reference: This office Important Circulars No. 57 bearing no. GI/C/0198/VOL-I/Tech dated 17-09-2008, 62 bearing no. GI/C/0198/VOI-II/Tech dated 12-11-2008 and Circular no. 96 bearing no. GI/C/0198/VOL-IV/Tech dated 04-12-2012.

Attention of all pension disbursing authorities is invited to above cited circulars wherein instructions had been issued for implementation of GOI, Ministry of P,PG and pensions, Deptt of P&PW OM No. 38/37/08-P&PW(A,) dated 01 September 2008 and that Ministry OM.No. 1/3/2011-P&PW (E) dated 25-05-2012. Now, GOI, Ministry of P,PG and pension, Dept of P&PW have further issued orders under their OM No. 38/37/08 P&PW (A) dated 28-01-2013, a copy of which is enclosed for immediate implementation.


2. According to current orders, pension of pre-2006 pensioners as revised w.e.f. 01- 01-2006 in terms of para 4.1 or para 4.2 of the OM dated 01-09-2008 as amended from time to time would be further stepped up to 50% of the sum of minimum of pay in pay band and the grade pay corresponding to the pre- revised pay scale from which the pensioner had retired, as arrived at with reference to the fitment tables annexed to the Min of Fin, Deptt of Expenditure OM No. 1/1/2008 - IC dated 30-08-2008. In case of HAG and above scales, this will be 50% of the minimum of the pay in the revised pay scale arrived at with reference to the fitment tables annexed to the above referred OM dated 30-08-2008 of Ministry of Finance, Department of Expenditure.

3. The normal family pension of pre-2006 pensioners as revised w.e.f. 01-01-2006 in terms of para 4.1 or para 4.2 of the OM dated 01-09-2008 as amended from time to time would be further stepped up to 30% of the sum of minimum of pay in pay band and the grade pay corresponding to the pre- revised pay scale from which the Government servant had retired, as arrived at with reference to the fitment tables annexed to the Min of Fin, Deptt of Expenditure OM No. 1/1/2008 - IC dated 30-08-2008. In case of HAG and above scales, this will be 50% of the minimum of the pay in the revised pay scale arrived at with reference to the fitment tables annexed to the above referred OM dated 30-08-2008 of Ministry of Finance, Department of Expenditure.

4. A revised concordance table ( Annexure ) of the pre - 1996, pre-2006 and post 2006 pay scales/pay bands indicating the pension/family pension (at ordinary rates) payable under the above provisions is enclosed to facilitate payment of revised pension/family pension.

5. The pension so arrived at in accordance with para 2 above and indicated in col.9 of Annexure will be reduced/prorata where the pensioner had less than the maximum required service ( 33 years ) for full pension and in no case it will be less than Rs. 3500/- p.m.

6. Further, it has also been decided that:-

(i) In case of Govt. servants who died while in service before 01-01-2006 and in respect of whom enhanced family pension is applicable from. 24-09-2012 the enhanced family pension will be stepped up to 50% of the sum of minimum of pay in the pay band and the grade pay corresponding to the pre-revised pay scale in which the Govt. servant had died, as arrived at with reference to the fitment table annexed to the Fin of Finance OM dated 30-08-2008 & in case of HAG and above scales this will be 50% of the minimum of the pay in revised pay scale arrived at with reference to the fitment table annexed to the OM dated 30-08-2008.

(ii) In the case of a pensioner who retired before 01-01-2006 and in respect of whom enhanced family pension is applicable from the date of approval by the Government, i.e. 24-09-2012, the enhanced family pension will be stepped up to the amount of pension as 2 revised in terms of para 2 read with para 5 above. In case the pensioner has died before 24-09-2012, the pension will be revised notionally in terms of para 2 read with para 5 above. The amount of revised enhanced family pension will, however, not be less than the amount of family pension at ordinary rates as revised in terms of Para 3 above.

7. In case the pension consolidated pension/family pension/enhanced family pension calculated as per Para 4.1 of OM No. 38/37/08-P&PW (A) dated 01-09-2008 is higher than the pension/family pension calculated in the manner indicated above, the same ( higher consolidated pension/family pension ) will continue to be treated as basic pension/family pension.

8. These orders will take effect from 24-09-2012. There will be no change in the amount of revised pension/family pension paid during the period 01-01-2006 and 23-09- 2012, and, therefore, no arrears will be payable on account of these orders for that period.

9. All pension disbursing authorities are therefore, requested to revise the pension/family pension in affected cases in terms of Govt. OM dated 28-01-2013. Payment made w.e.f. 24-09-2012 will be adjusted against the arrears now being paid and these cases may be reflected in the monthly account sent to this office as 'change item'.

10. Where the PDAs are in doubt in regulating the payment of revised pension/family pension under these orders, the cases with full details of pensioner/family pensioners and PPO No: etc may be referred to Audit Section of this office for advice and further action.

 No:-GI/C/0198/Vol-IV/Tech.
Dated: 11th February 2013.

sd/-
(ALOK PATNI)
ACDA (P)

Source: www.pcdapension.nic.in
[http://pcdapension.nic.in/6cpc/Circular-102.pdf]

REVISED PENSION / FAMILY PENSION OF PRE-2006 PENSIONERS FOR POSTSCARRYINGPRESENTSCALESIN GROUP 'A', 'B', 'C' & 'D' [Annexure to OM No.38/40/12-P&PW(A) Dated 28.1.2013

PCDA Pension Orders 2013 : One Rank One Pension - Rate of Minimum Guaranteed Family Pension with effect from 24.9.2012 (Commissioned Officers)

PCDA Pension Orders 2013 : One Rank One Pension - Rate of Minimum Guaranteed Family Pension with effect from 24.9.2012 (Commissioned Officers)

An Important circular has been issued by the Office of the PR.Controller of Defence Accounts (Pensions)-Allahabad regarding that the Dependent Pension (Special) and Dependent Pension (Liberalised) to Defence Service Personnel and Ex-Servicemen and also issued the table of minimum guaranteed family pension effect from 24.9.2012 (Commissioned Officers). Implementation of Government decision on the recommendations of the Committee Secretaries Committee- 2012 on the issues related to Defence Service Personnel and Ex-Servicemen- Improvement in Casualty Pensionary Awards for pre- 2006 Armed Forces Officers and JCO/ ORs and equivalents.

The main content of the order is reproduced and given for your information and also given a link to the original order...

Subject : Implementation of Government decision on the recommendations of the Committee Secretaries Committee- 2012 on the issues related to Defence Service Personnel and Ex-Servicemen- Improvement in Casualty Pensionary Awards for pre- 2006 Armed Forces Officers and JCO/ ORs and equivalents.

Reference : This Office Circular No. 503 dated 17.01.2013.

Kindly refer to Table No. 1 appended in this office circular cited under reference. Your attention is invited wherein to various nomenclature columns (Column 6, 8, 11, 13, 17,19) the 2nd Life awards of SFP and 2nd Life awards of LFP have been shown. However, in the case of Commissioned Officers it should be Dependent Pension (Special) and Dependent Pension (Liberalised). In order to facilitate the PDAs for smooth revision and implementation, the same has been rectified and an amended Table No. 1(Revised) is enclosed for necessary revision/ action.

It is also mentioned that the rates of Dependent Pension (Liberalised) in case both parents are alive are @ of 75% of LFP. This has been left out inadvertently which has now been reproduced in the revised table.

2.All Pension Disbursing Authorities are authorized to revise/ update the family pension in respect of Commissioned Officers equivalent as per tables attached to this circular, if the same is beneficial. Table No. 1 appended in Circular No. 503 is replaced by Table No. 1(Revised) annexed with this circular.
3.All other terms and conditions for revision of family pension in respect of pre-2006 Armed Forces family pensioners drawing pension under casualty pensionary awards shall remain unchanged.

sd/-
(ALOK PATNI)
ACDA(P)

No. Grants/Tech/0167-XIII (508)
Dated: - 19th February 2013.

Click here to get the "Rate of Minimum Guaranteed Family Pension with effect from 24.9.2012 (Commissioned Officers)"

Source : www.pcdapension.nic.in
[http://pcdapension.nic.in/6cpc/Circular-508.pdf]

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