Tuesday, February 23, 2016

7th Pay Commission Latest News – Railways Senior Citizens Welfare Society’s Memorandum

7th Pay Commission Latest News – Railways Senior Citizens Welfare Society’s Memorandum

RSCWS demands for revising 7th pay commission multiplication factor, Parity of Pension, and revision of Fixed Medical Allowance – Submits memorandum to 7th pay commission empowered committee

7th Pay Commission Latest News – Railway Senior Citizen Welfare Society has submitted representation to 7th Pay Commission Implementation Cell highlighting the need for reviewing the recommendations for the benefit of Pensioners

No. RSCWS/ CHD / Memo 7th CPC Emp Com/2016-3
Dated: 6-2-2016
1. Cabinet Secretary, Government of India & CHAIRMAN, EMPOWERED COMMITTEE OF SECRETARIES ON 7TH CPC, Cabinet Secretariat, Rashtrapati Bhawan, New Delhi – 110 004
CC to:cabinet@nic.in

2. ALL MEMBERS OF EMPOWERED COMMITTEE ON 7TH CPC

Dear Sir,
Subject: Recommendations of the 7th Pay Commission relating to Pension & Retirement Benefits

We would like to draw your kind attention to the following major points & serious inadequacies & consequential serious injustice to the Pensioners. We earnestly request you for consideration of the following issues:

1. MULTIPLE FACTOR (REF: PARA 10.1.67):

I) The 7th Pay Commission has very unjustly & arbitrarily recommended the multiple factor of 2.57 for fixation of Pay & Pension. It is tantamount to less than 14.3% rise of emoluments as on 1-1-2016 (with expected DA of 125%) as against over 21% rise proposed by 6th CPC. This is especially very much unjustified in view of much high price rise in the last 10 years.

II) Long pending demand may please be accepted for merger of DA for fixing the Revised Pay & Pension;

III) It is, therefore, requested that the multiple factor should, therefore, be raised to 3.15 times of Sixth CPC Basic Pay & Pension if the merger of DA is agreed to or at least to 2.65 if merger of DA is not agreed to.

IV) The Minimum wage of Rs.18000 proposed by 7th Pay Commission is based on Dr Aykroyed formula for Minimum Need Based Wage. This has already been overruled by the Supreme Court as it does not reflect the present day needs for Housing, Social obligations and Children Education etc. The Apex Court had already modified the said formula by adding appropriate weightage for these Factors – which may please be considered for fixing the Minimum Pay and the Pay at higher Levels as well as the Pension as based thereon.

2. PARITY OF PENSION (PARA (10.1.53 & 10.1.67):

a) We welcome the recommendation of 7th CPC and thank the COMMISSION for accepting the long pending demand of Parity between pre and post 7th CPC Retirees. However the method suggested by the Pay Commission for the above purpose, needs to be revised & simplified in view of the following reasons:
i) It may not be possible to implement this Option in many cases for fixation Revised Pension of Pre-2016 Pensioners in the absence of Service Records of the old Pensioners to check the number of increments earned in the Grade from which the Pensioner retired in cases where the Service Records of the old Pensioners are not available thus depriving them of the benefit of the same permanently or for many years till their records are rebuilt – which will be like groping in the dark;
ii) Basing of Pay Matrix & Pension on disproportionate Rise of Pay & Pension – given after 6th CPC – will be unjustified – as the rise given after 6th CPC was 3 times or more in PB 4 as against 2.26 times in PB 2 & PB 3;
iii) Using lower Index of only 2.57 at lower levels and 2.62 at Middle Levels as compared to 2.67, 2.72 and 2.81 at higher Levels of Posts will further accentuate the discrimination caused by the 6th CPC. The Index of 2.81 should be uniformly applied at all Levels.
iv) In the past, while fixing the salary of serving personnel in the revised scale under the 4th CPC recommendations, point to point fixation based on the number of increments already earned was not undertaken and one increment was allowed for every 3 (three) increments earned in the pre-revised scale thereby suppressing the number of increments earned in relation to the number of years actually spent in the grade.
The same principle of allowing one increment for every 3 earned in the 4th CPC scale was also followed while fixing salary of serving employees in 5th CPC scales. This has resulted in artificially suppressing the time spent in a particular level.
v) Senior Pre-2006 Pensioners will get lesser higher pension than even the Pre-2006 junior Pensioners who retired later from the same Post with slightly longer or more years of service in that Grade;
vi) Senior Pre-2016 Pensioners who retired in higher Level of Posts will get lesser pension than the juniors who retired from one or even more Levels below just because Either the Juniors could not get promoted to higher grade but had earned more increments in the lower Grade than the seniors who retired from a higher grade.
Or the two Pay Scale got merged after the retirement of the senior and thus the junior will get the benefit of all increments earned in either of the two scales while the senior will get the benefit of the increments earned only in the higher grade.

All this would be greatly unjustified.

a) It is, therefore, requested to please simplify the method for the purpose and the same should be based only on the information available in the PPO.

b) It is requested that – in order to remove the above infirmities – the Pension of Pre-2016 Civilian Pensioners be fixed at the higher of the following two formulations:
i) a) Pension of Pre 2016 Pensioners be fixed at par with Average of the Pension of Post-2016 Pensioners based on the 50% of the Average Pay in the Pay Matrix or such other formula as may be universally implementable as per readily available records of all concerned / based on the information available in the PPO;
b) Till such time the above said dispensation is implemented, minimum Pension of Pre-2016 Pensioners should not be less than 50% of the minimum of Pay in the Pay Matrix of 7th CPC for the Pay Level corresponding to the Pay Scale or the Grade Pay from which the Pensioner had retired;
ii) Pension fixed after Sixth CPC be multiplied by Multiple Factor of 3.15 if the merger of DA is agreed to or at least to 2.65 if merger of DA is not agreed to (as proposed in Para 3 above)\
iii) Increments earned or the number of years spent in either of the merged scales should be taken into consideration for fixing the Revised Pension.
Pensioners may please be fixed at the higher of the above – without getting any option from the Pensioner as it is an obvious matter that all will opt for the higher Pension.

3. ADDITIONAL PENSION (Para 10.1.28):

7th CPC has totally ignored the reasons of extra expenses on medical care & treatment in old age for the demand for reducing the age for grant of Additional Pension of 5% from 65 years of age, 10% from 70 years and 15% from 75 years. It has also ignored even the recommendations of DOP&PW for starting it at the age of 75 years. This has greatly hurt the Pensioners.

It is, therefore, requested that the Additional Pension may please be granted @ 5% from 65 years of age, 10% from 70 years and 15% from 75 years of age, besides continuing with Additional Pension of 20% from 80 years, 30% from 85 years, 40% from 90 years, 50% from 95 years and 100 % from 100 years of age as granted after 6th CPC.

4. FIXED MEDICAL ALLOWANCE(Ref: Para 8.17.52):

It is regretted that the 7th CPC has recommended no enhancement of Fixed Medical Allowance (FMA) for Pensioners for day- to-day medical treatment not requiring hospitalization, merely on the ground that “this Allowance was last enhanced from Rs.300 to Rs.500 pm from 19/11/2014” – even without going into the merits of the following valid reasons advanced for the revision thereof:
i) FMA should have been revised from 1-9-2008 – like all other Allowances after the 6th CPC. The belated revision done in 2014 was itself delayed by 6 years;
ii) The cost had exorbitantly increased for the Medicines, Consultation Fee and cost of Pathological Tests required for day-to-day medical treatment since 1999 (when the FMA was initially granted) and this had risen at a much steeper rate than the Price Index.
iii) Average expenditure per pensioner/per Patient on OPD in CGHS Hospitals has increased manifold and is at present over Rs.2500 per patient. This reflects the exorbitant increase in the cost of Medicines, Consultation Fee and cost of Pathological Tests etc. required for day-to-day medical treatment. The FMA of Rs.500 per month is thus a pittance of the actual expenditure on day-to-day Medical Treatment by the Pensioners who are residing in non-CGHS /RELHS areas and have thus opted out of the same.
iv) A large proportion of Pensioners were residing in remote areas or villages having no excess to CGHS Dispensaries & Railway Hospitals and as such, are wholly dependent on the paltry amount of FMA for day-to-day treatment of self & spouse.
v) It is, therefore, requested that the FMA may please be revised to at least Rs.2000 p.m. or at par with the average expenditure on OPD Treatment per month per Pensioner / Patient.
Hoping for a favorable consideration;
Thanking you
Yours faithfully
(Harchandan Singh)
Secretary General, RSCWS
Source: IRTSA

Re-Scheduling of Summer Vacation in Kendriya Vidyalaya Schools

KV schools in Ahmedabad, Mumbai, Bangalore, Chennai, Hyderabad, Jabalpur, Raipur, Bhubaneswar and Kolkata including A&N Islands to close for vacation from 3rd May 2016 from 21st June 2016

Re-Scheduling of Summer Vacation for Kendriya Vidyalayas in Ahmedabad, Mumbai, Bangalore, Chennai, Ernakulam, Hyderabad, Jabalpur, Raipur, Bhubaneswar and Kolkata including A&N Islands region of – KVS Order

KENDRIYA VIDYALAYA SANGATHAN
18, Institutional Area, shaheed Jeet Singh Marg
New Delhi 110 016
F.110334/1/2012-KVS HQ/Acad/Pt File II
Date: 12-02-2016
OFFICE ORDER

In continuation to this office letter of even number dated 23.12.2015, it has been decided by the competent authority to Re-Schedule Summer Vacation of Ernakulam, Ahmedabad, Mumbai, Bangalore, Chennai, Hyderabad, Jabalpur, Raipur, Bhubaneswar and Kolkata including A & N Islands) for the Session 2016-17 as under:

Name of Regional Office/Offices
Existing Schedule of Summer vacation for Session 2016-17
Changed Schedule of summer vacation for session 2016-17
Ernakulam From 25.04.2016 (Monday) to 13.06.2016 (Monday) – 50 days From 09.04.2016 (Saturday) to 29.05.2016 (Sunday) – 50 days
Ahmedabad, Mumbai, Bangalore, Chennai, Hyderabad, Jabalpur, Raipur, Bhubaneswar and Kolkata including A&N Islands From 25.04.2016 (Monday) to 13.06.2016 (Monday) – 50 days From 03.05.2016 (Tuesday) to 21.06.2016 (Tuesday) – 50 days.
Other details of the said letter will remain the same.
(Dr Shachi Kant)
Joint Commissioner (Trg.)

Monday, February 22, 2016

Grant of House Rent Allowance to Railway Employees Posted to New Zones/New Divisions: Railway Board orders

Railway Board decision on House Rent Allowance – Orders Issued

GOVERNMENT OF INDIA
MINISTRY OF RAILWAYS
(RAILWAY BOARD)
No.E(P&A)II-98/HRA-6
RBE No: 20/2016
New Delhi, dated 17/02/2016
The General Manager/CAO’s
All Indian Railways & Production units.

Sub : Grant of House Rent Allowance to Railway employees posted to new Zones/new Divisions – Regarding.

Attention is invited to the instructions contained in Board’s letters of even number dated 9.3.2004, 9.8.2005, 9.8.2006, 12.12.2007, 24.10.2008, 10.12.2009 , 01.07.2013 and 24.07.2014 on the above subject.

2. The matter has been considered by the Board subsequent to issue of letter No. E(G)2009 QR 1-2 dated 20.10.2014 and it has been decided that railway employees posted to ECR and NWR may be allowed house rent allowance upto 31.12.2015 on the same terms and conditions laid down in the letter of even number dated 09.03.2004 ibid and as amended/clarified from time to time.

3. This issues with the concurrence of the Finance Directorate of the Ministry of Railways.
sd/-
(Salim Md. Ahmed)
Director/E(P&A)-II
Railway Board.
Source: NFIR

Cashless health insurance for elderly likely in Budget

Cashless health insurance for elderly likely in Budget

Government is working on a cashless health insurance scheme for senior citizens which may be announced in the upcoming Union Budget 2016-17.

Around Rs 10,000 crore – lying unclaimed in banks and insurance companies, EPFO and small savings schemes — would be utilised for providing the health insurance cover to the elderly, sources said.

Senior citizens are often dependent on their children or extended families for healthcare, they said, adding that the proposed scheme will help in meeting secondary and tertiary health care needs.

The quantum of insurance cover would be more than Rs 50,000 for person over 60 years.

Finance Minister Arun Jaitley will present the central budget for the next financial year on February 29.
The proposed scheme will be administered by the Department of Financial Services under the Finance Ministry.

The government proposes to link this scheme to bank accounts of beneficiaries to directly transfer the subsidised amount to the accounts. As per the proposal, the government would subsidise the premium for those below poverty line by up to 90 per cent through cash transfers to their bank accounts.

It’s not that the government will forfeit these unclaimed funds, sources said, adding that if claimants come forward they will be paid because the fund would be revolving in nature, sources said.

Health insurance scheme for senior citizen would be a logical extension of the ongoing low premium life insurance (Pradhan Mantri Jeevan Jyoti Bima Yojana), general insurance (Pradhan Mantri Suraksha Bima Yojana) and pension plan (Atal Pension Yojana) of the government, sources said.

The Pradhan Mantri Jeevan Jyoti Bima Yojana offers a renewable one-year life cover of Rs 2 lakh to all savings bank account holders in the age group of 18-50 years, covering death due to any reason, for a premium of Rs 330 per annum.

The Pradhan Mantri Suraksha Bima Yojana offers a renewable one-year accidental death-cum-disability cover of Rs 2 lakh for partial/permanent disability to all savings bank account holders in the age group of 18-70 years for a premium of Rs 12 per annum per subscriber.

The Atal Pension Yojana focuses on the unorganised sector and provide subscribers a fixed minimum pension of Rs 1,000, Rs 2,000, Rs 3,000, Rs 4,000 or Rs 5,000 per month, starting at the age of 60 years, depending on the contribution option exercised on entering at an age between 18 and 40 years.
PTI

Important Dates for ADMISSION in KV Schools 2016-2017

KV SCHOOL ADMISSION SCHEDULE FOR 2016 – 17
SCHEDULE FOR ADMISSION


Subject to availability of vacancies in a particular class.


The Admission Schedule for the Session 2016-17 will be as under :-

kv-school-admission-dates-2016

List of children registered, list of eligible children, category-wise list of provisionally selected children, waiting list and subsequent lists to be compulsorily displayed on the web-site of the Kendriya Vidyalayas concerned, in addition to display on School’s Notice Board.

Abolition of affidavit and attestation by Gazetted Officer and adoption of self-certification in KVS

Abolition of affidavit and attestation by Gazetted Officer and adoption of self-certification in KVS

KENDRIYA VIDYALAYA SANGATHAN
18, Institutional Area, Shaheed Jeet Singh Marg,
New Delhi – 110 016
F.11029-9/2014-KVSHQ (Admn.-1)/
Date : 18.02.2016
The Deputy Commissioner
Kendriya Vidyalaya Sangathan
All Regional Offices

SUB: Abolition of affidavit and attestation by Gazetted Officer and adoption of self-certification in KVS-reg.

Sir/Madam,
In pursuance of the Ministry of Personnal Public Grievances & Pensions D.O. letter No.K-11022/67/2012-AR dated 17.07.2014, read with Govt. of Punjab Memo No.3/7/2010-Trg.(3)/1007 dated 10.03.2010, the competent authority, KVS has decided to implement the following in KVS with immediate:-

1 . Self -attested photocopy of Date of Birth Certificate by the parents/legal guardian of the child should be accepted, at the time of grant of admission instead of attestation by a Gazetted Officer/any other Authority.

2. All self-attested photocopy of testimonials from the candidates appointed in KVS be accepted instead of attestation by a Gazetted officer/any other Authority.

3. However, the self attested photocopies of Date of Birth certificate & other testimonials must be verified from the original documents for authenticity and a certificate to this effect must be recorded by Principal/Head of Office etc on the photocopy of the document before placing it on records.
This may be circulated among all Kendriya Vidyalayas functioning under your administrative jurisdiction with the instructions that the same may be brought to the notice of all staff members under proper acknowledgement. These instructions be followed by all Regional Offices/ZIETs Joint & KVs Commissioner meticulously.
sd/-
(Dr.E.Prabhakar)
Joint Commissioner (Pers.)
Source: www.kvsangathan.nic.in

Sunday, February 21, 2016

7th Pay Commission pay proposed – only 14.3% increase while 6CPC allowed 54% – NFIR

NJCA demands for fixing minimum pay of Central Government Employees at Rs.26,000. NFIR, one of the Railway Employees Associations which is a part of NJCA reports on representation made before 7th Pay Commission Implementation Cell and calls for the support of Central Government Employees for the all India Strike planned on 11th April 2016.

7th Pay Commission pay proposed – only 14.3% increase while 6CPC allowed 54% – NFIR

7th Pay Commission Latest News – 7th CPC proposed only 14.3% increase in pay while 6CPC allowed 54% – NFIR reports on NJCA’s demand before 7th pay commission implementation cell and ask for the support of all Central Government Employees for Indefinite Strike from 11th April 2016

NFIR
National Federation of Indian Railwaymen
3, CHELMSFORD ROAD, NEW DELHI – 110 055
No: II/95/Pt VIII
Dt:19th February, 2016

MESSAGE

On the Invitation of Shri R.K. Chaturvedi, Convener, Implementation Cell, Ministry of Finance Dr M. Raghavaiah, Chairman/NJCA & GS/NFIR and Shri Guman Singh, Member/NJCA & President/NFIR representing Central Government Federations/Associations attended the meeting at North Block, New Delhi at 11.00AM on 19th February 2016 and explained NJCA’s 1 to 26 charter of demands with full justification for every demand.

The need for fixing the minimum wages at Rs 26,000/- and modifying the multiplying factor was explained in detail with full justification. The leaders drew the attention of Shri Chaturvedi to Page No 63 of 7th CPC which is as follows:

(in percent)
II CPC 14.2
III CPC 20.6
IV CPC 27.6
V CPC 31.0
VI CPC 54.0
VII CPC 14.3

It is clear from above that the pay rise is only 14.3% in 7th CPC, which is causing lot of resentment and unrest among 34 lakh Central Govt Employees belonging to Railways, Defence, Postal etc., Mr R.K. Chaturvedi assured to explain the views expressed by NJCA leaders to the Cabinet Secretary and stated that within 10-15 days a meeting between NJCA, Empowered Committee and the Implementation Cell will be held for further discussions.

The NJCA leaders made it ample clear that in the event of No Negotiated Settlement all the central government employees will be compelled to serve Strike Notice on 11th March 2016 and proceed on strike from 6.00AM on 11th April 2016.

As already decided by NJCA all the Central Govt Employees must prepare themselves for Indefinite Strike from 11th April 2016.
(Marri Raghavaiah)
CHAIEMAN/NJCM & GS/NFIR
Source: NFIR

Budget 2016 expectations: From OROP, 7th Pay Commission overhang to sectoral impact, here are 10 points to note

Budget 2016 expectations: From OROP, 7th Pay Commission overhang to sectoral impact, here are 10 points to note

1. The FM’s priority in the 2016-17 budget will be higher growth, with fiscal rectitude, we believe. With the private sector capex yet to pick up, he will budget for higher plan capital expenditure (investments), in addition to the higher spends on OROP and 7th Pay Commission, which need to be factored in. These will be proposed to be financed by higher revenues from divestment/privatisation, higher indirect tax rates, telecom auctions and better tax compliance, apart from a cut in non-plan expenditure (subsidies) via DBT.

2. A lower fiscal deficit will leave more money available for the private sector, help in easing inflation, and moderate interest rates further. We expect targets under the FRBM Act to be largely maintained. We expect the FM to target a fiscal deficit of 3.7% for FY17 and budget for a gradual reduction in fiscal deficit per annum to 2.5% by FY19.

3. Expect FM Arun Jaitley to target real GDP growth of 7.7% in FY17 and bring it to over 8% next year. Larger and targeted plan expenditure capital outlays, with strict implementation timelines, would likely be announced, to ensure economic recovery and sustainable growth. We expect plan expenditure target to increase by 30% over FY16RE.

4. The budget will aim to provide an investment – led supply aid to growth (with private sector participation via Make in India campaign) as well as a consumption – led demand pull growth via 7th Pay Commission, OROP and DBT of subsidies.

5. On taxation front, we expect the Government to initiate reform process in direct taxes, in line with the announcements of the previous budget. The tax rate is expected to gradually come down from 30% to 25%, with a corresponding removal of exemptions / deductions available currently. On indirect taxes, we expect increase in service tax rate to bring it in line with the proposed GST rate of about 17-18%. Similarly, excise duties will likely be levied on various exempt items and increased for various items which are currently taxed at concessional rates. We are not expecting change in base rate of excise duty.

6. FM Arun Jaitley will have to restrict non plan expenditure to meet his FD targets. While the food subsidy burden will be taken up, we believe the FM will budget for lower fuel subsidy bill on the back of lower crude prices. He will also better target subsidies through the JAM trinity. The government has already announced on January 1, the launch of DBT for kerosene subsidy in a bid to cut down the diversion and black marketing of the fuel. The kerosene subsidy in FY15 was pegged at about Rs.248bn. As per reports, Direct Benefit Transfer (DBT) for LPG had resulted in savings of about Rs.140bn in FY15. We expect DBT to be gradually used for more subsidies. Implementation of DBT for fertilizer and crop subsidy could result in substantial savings.

7. To provide higher employment opportunities and to make the workforce employable, we expect measures to promote the ‘Make in India’ and ‘Skill India’ initiative. We also expect higher allocations towards agriculture and rural sector to support rural growth, after two continuous drought years in the country.

8. We expect the divestment target to be increased to Rs 500bn in FY17 v/s the FY16RE of Rs.200bn. Tax revenue targets (net) may be set at Rs.10.2trn, an 8% growth over FY16RE. Customs duty may be tweaked on several items to further the ‘Make in India’ cause. We expect implementation of GAAR to be postponed to FY18. We also expect tax benefits for the export-oriented sectors, in view of the consistently falling exports and some measures to restrict dumping.

9. SENSEX AND NIFTY TODAY: The 30-share index on Thursday opened 154.60 points up at 23,536.47 on account of firm global markets.

10. We believe that, the budget may have the following implications for the sectors: BUDGET IMPACT POSITIVE: Sectors – Auto, Banking/NBFCs, Capital Goods, Cement, Construction, Metals & Mining, Oil & Gas, Paints, Power, Shipping & Logistics. BUDGET IMPACT NEUTRAL: Sectors – Agro Chemicals, Aviation, FMCG, Information Technology, Media, Pharmaceuticals, Real Estate.

PTI Via financialexpress

Budget 2016: After its 7th Pay Commission Rs 40,000 crore ‘request’ denied, Indian Railways wants FinMin to bear PSO bill

Budget 2016: After 7th Pay Commission Rs 40,000 crore request of Indian Railways was denied, Rail Ministry Rail Ministry wants cost of its Public Service Obligations in 2016-17 to be shared by the finance ministry – Indian Railways has demanded that Budget 2016 bear the PSO cost. The PSO, sources said, includes a part of passenger subsidies but not all of it, as the Indian Railways is still to figure out what PSO is.

Even as experts call for an overhaul of the operations of the Indian Railways and its corporatisation, the transporter’s losses from the passenger segment and public service obligations are rising relentlessly and it is now looking for some relief from Budget 2016 (Union Budget 2016 presentation date is February 29).

Indian Railways gives as many as 53 types of concessions in passenger fares. Because of the various subsidises and concessions the transporter provides, Indian Railways had to bear an overall loss of Rs 32,000 core in FY14 for running passenger operations. All of passenger categories except AC three-tier are making losses for the Indian Railways.

Sources in the ministry of railways told FE that Indian Railways social obligation cost would be around Rs 34,000 crore this financial year, steeply higher than about Rs 25,000 crore in FY14. The figure is believed to have stood at over Rs 30,000 crore last financial year, although no official estimate is still out.

The Indian Railways carries out numerous transport activities which are uneconomical in nature but are considered to be in the larger interest of the society. The items which fall under PSOs and are making losses, include transport of essential commodities carried below cost, subsidies and concessions on passenger fares and other coaching services, operation of uneconomic branch lines and new lines opened for traffic during the last 15 years.

“There is no clarity on whether the Indian Railways is a commercial entity or a tool to meet social service obligations. As the transporter needs to invest a lot of money for the expansion and up keep of its infrastructure, there needs to be a proper framework to compensate the Indian Railways on the losses it makes on running passenger operations and the cost it incurs for meeting its public service obligations,” said Abhay Krishna Agarwal, Partner Infrastructure & PPP at EY LLP.

Sources said even the Standing Committee on Indian Railways has recommended the government to work out a procedure on the basis of which the public service obligation costs are reimbursed to the railways. Documents accessed by FE reveal that the finance ministry wants an independent body to evaluate and define what qualifies under ‘public service obligation’ for railways and also decide on the extent of relief which can be claimed from the government under it.

“Utilising your track for providing compensations and subsidises and running below cost operations is not a prudent way of running operations, who is stopping you from increasing passenger fares, political compulsions should not be factored into while deciding fares,” Raghvan Sivadasan, former railway board member said.

While the finance ministry wants an independent body to evaluate and decide on the quantum of burden to be shared, the ministry of railways has proposed an Inter-Ministerial Committee to be set-up for evaluating the impact and the framework of sharing the public service obligation cost borne by the railways. As an interim measure the transporter wants the general revenue to bear a certain percentage losses incurred by the Indian Railways in FY16.

Sources: Financialexpress.com

Good news for Central Government Employees! DA likely to be hiked to 125% from existing 119%

Good news for Central Government Employees! DA likely to be hiked to 125% from existing 119%
expected-da-hike-12-percent-cg-employees


New Delhi: Narendra Modi government is likely to hike dearness allowance (DA) by 6 percent to 125 percent.

The likely increase in dearness allowance by six percent to 125 percent from existing 119 percent would benefit over 10 million central government employees and pensioners.

The new rate of DA will be implemented from January 1, 2016, which will be applicable for 4.8 million central government employees and 5.5 million pensioners. DA is paid as a proportion of basic pay of employees.

The proposal to hike DA is moved by the Finance Ministry on the basis of accepted formula for calculation. The Union Cabinet approves the DA hike for its employees.

The Centre revised DA twice in a year on the basis of one year average of retail inflation for industrial workers as per the accepted formula.

Earlier in September last year, DA was increased to 119 percent from 113 percent which was effective from July 1, 2015. In April last year, the government had hiked DA by 6 percentage points to 113 percent of their basic pay with effect from January 1, 2015.

Source: Zee news

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