Thursday, September 26, 2013

7th Pay Commission announced - Focus on 7th CPC

 7th Pay Commission announced - Focus on 7th CPC

The central government today announced the constitution of Seventh Pay Commission which will benefit about 50 lakhs central government employees and more than 30 lakhs pensioners all over India.

The Finance Minister after getting approved from the Prime Minister announced the decisions. The recommendations of the 7th Pay Commission are likely to be implemented with effect from January 1, 2016.The Central Government constitutes  Pay Commission every ten years to revise the pay scales for its employees and it is implemented with some modifications by some states. This announcement has created a joyous atmosphere among the employees and are eagerly waiting for its details.

50% DA Merge
From now, the longstanding question of merging 50% DA with the Basic Pay stands unanswered and the importance of it is slightly decreased.

Who will be the head of committee
Who will be the head of committee the employees are now awaits the announcement regarding who will head the constitution and its members.

Focus on 7th CPC
In VII CPC the anomaly  committee should rectify all anomalies in quick time rather than taking long years.
The merger of 50% DA which was announced in V CPC was not mentioned in the VI CPC . But in VII CPC, employees are expecting the merger of DA and Pay revision in between 10 years.

Final Words
This announcement may trigger in rise in prices right from the vegetable vendor to all other things.

Source: www.7thcpcnews.blogspot.in
[http://7thcpcnews.blogspot.in/2013/09/7th-pay-commission-announced-focus-on.html]

Retirement Age may go up 62 Years in view of 7th CPC

 Retirement Age may go up 62 Years in view of 7th CPC

7th Pay panel formed, retirement age may go up 62 yrs: Money Control

The award of the seventh pay commission will be implemented from the beginning of 2016 and will benefit nearly 3 million pensioners. But since state governments generally match central wages, the actual beneficiary list stands at over 11 million employees and pensioners.

Siddharth Zarabi
The national capital, home to a vast majority of central government employees, is headed for elections this November. And so are four other states, followed by the general elections sometime early next year. This, more than anything else, explains the central government's hurry to promise its employees higher wages.


The award of the seventh pay commission will be implemented from the beginning of 2016 and will benefit nearly 3 million pensioners. But since state governments generally match central wages, the actual beneficiary list stands at over 11 million employees and pensioners. The fact that this award is one more in a long list of expenditure-heavy pre-election programmes, will mean several consequences for India's finances. Back of envelope calculations suggest that even if the increments in the 6th pay commission were to be matched, the centre's wage bill could rise by up to Rs 1 lakh crore in 2016. But on the other hand, this payout will spark a surge in consumption starting that year. Why? The sixth pay commission award amounted to around 0.5 percent of GDP and a tidy sum was handed out as arrears in the start of 2008. That extra spending power meant that the ensuing slowdown was mitigated to some extent. This could play out again in 2016. Meanwhile, CNBC TV18 learns that the proposal to extend the retirement age of central government employees by two years has received fresh impetus. A decision on this could be taken within a week or two, and would be the second major populist decision by the UPA to woo the urban middle class and the powerful government employee mass in Indian society.

Source: Money Control
http://www.moneycontrol.com/news/business/7th-pay-panel-formed-retirement-age-may-go62-yrs_956487.html?utm_source=ref_article

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