Pay Commission report within a week ?

Pay Commission report within a week ?

As per sources, seventh pay commission has prepared it's report and will submit it within a week. It has mentioned that the report is going to be submitted on 7th of this month. Ministry of Finance will examine the report thereafter and may be sanctioned by cabinet within October. The new pay scale is going to be operational from 1st January next year.

Though there is gossip about fitment benefit of 2.86 times and proposal of early retirement (60 years of age or 33 years of service, whichever is earlier), nothing could be confirmed at this stage till now.

As per news available with us, the present Grade Pay system is going to be abolished and seventh CPC will recommend for 13 pay scales in it's report.

It may kindly be noted that above mentioned news available from sources should not be taken as granted as there is no scope to verify or cross check it's authenticity. Still we published the news to the viewers who are eagerly waiting for any inside news (!) , as available with us.

 

Status of Cadre Review Proposal as on 31.07.2015

Status of Cadre Review Proposal as on 31.07.2015

| Tuesday, August 04, 2015

Source : http://ccis.nic.in/WriteReadData/CircularPortal/D2/D02adm/Sttt.pdf

REPORT ON NCCPA NATIONAL CONVENTION OF CG PENSIONERS AT HYDERABAD on 31st July, 2015

REPORT ON NCCPA NATIONAL CONVENTION OF CG PENSIONERS AT HYDERABAD on 31st July, 2015

A GRAND SUCCESS

            The National Convention of CG Pensioners organised by the NCCPA and hosted by the Telengana State Pensioners & Retired Persons Association in Sundarayya Vignana Kendra at Hyderabad was presided over by Nagpur CGPA leader Comrade Daktod. Comrade Prabhakar Nair leader of the host organisation welcomed all participants. Large number of delegates from several states participated in the convention including three women delegates. AIPRPA's participation was significant with 100 Delegates from 8 States including two women delegates from Kerala. 

            Comrade A.K.Padmanabhan CITU National President inaugurated the convention with his remarkable speech covering the international and national attacks on working class including the Pensioners and Senior Citizens under the neo-liberal policies and the need to unite to carry forward the struggle against these policies. He also narrated the importance of 2nd September strike by all sections of working people in India. 

            Comrade Shivgopal Mishra the General Secretary of AIRF and the Patron of NCCPA delivered his special address. His speech covered the important issues before the Pay Commission including that of the pensioners and the need to go on strike from 23rd November. He also pointed out the privatisation spree of the Central Government and he warned that the indefinite strike of November will be preponed without any notice if the Government tries to implement the privatisation of Railways as per the recommendations of Dr.Bibek Debroy Committee. 

            Comrade Pathak President of the AIDEF also narrated the issues before the CG Employees and Pensioners and the policies of the GOI that are aimed at supporting the Corporates and MNCs. He urged for united struggle of all to meet the dangers.

            Comrade KKN Kutty President of Confederation of CG Employees delivered his special address and pointed out that all should understand the political game of the Government and should be ready to counter it effectively. He touched the issues of Pensioners but called for a larger unity of all pensioners and employees to successfully meet the situation. 

            Comrade Pavitra Ranjan Chakraborti the Officiating SG of NCCPA presented the Draft Declaration of the Convention and addressed on the important points in the Declaration. 

            In the afternoon session Comrades K.G.Jayarajan GS AIBDPA; K.Ragavendran GS AIPRPA; P.C.Nair GS Para-military Pensioners Association; and many other leaders also addressed the session and covered the Draft Declaration presented before the house by the Secretary General and suggested several improvements and modifications. 

            Delegates representing the Affiliated organisatins of NCCPA deliberated on the Draft Declaration and all supported the Draft Declaration and suggested some improvements. 

            The Convention came to an end with the summing up speech of the Secretary General. The Convention has taken important decisions including to organise solidarity action by Pensioners in support of 2nd September Strike in all places according to local conditions; solidarity programmes to CG Employees strike from 23.11.2015; continuous campaign programmes and conventions for popularising the demands of the Pensioners as finalised by the Convention; taking steps for meeting the situation by all Pensioners Organisations unitedly after the submission of recommendations of 7th CPC etc. 

            The National Convention was a grand success and all participants have returned with enthusiasm and determination. Some Photos of the Convention are placed below:

                                                                                                            K.Ragavendran

                                                                                                        General Secretary

























AKP National President CITU inaugurating



Shiv Gopal Misra GS AIRF special address

 



KKN Kutty President Confederation special address

 



Pathak President of AIDEF delivering special address

 



P.C.Nair GS Paramilitary pensioners association special address

 



K.G.Jayaraj GS AIBDPA delivering special address

 



S.S.Roy on behalf of West Bengal COC of CGPA

 



Sudhakaran Nair on behalf of Kerala COC of CGPA

 



D.K.Rahate President AIPRPA 

 





 





 

M.N.Reddy GS of Telengana All Pensioners & Retired Persons Association the host organisation



Sankar Kaduskar leader of CGPA Amaravathi Maharashtra



RN Dhal , GS, PA, Odisha Circle

Rural Solution

Rural Solution

 

Finance Ministry to review small savings schemes; banks complain of high interest rates

Finance Ministry to review small savings schemes; banks complain of high interest rates

With the government looking to spur demand and boost growth, the finance ministry is planning a review of its small savings schemes later this month, a finance ministry official told ET. Banks have long complained to the government that interest rates on these schemes are too high and need to be lowered to bring about a reduction in the cost of borrowing that will in turn spark credit expansion. 

Experts pointed out that the government will need to proceed with caution as stakeholders are bound to protest forcefully at any such move. The government is facing difficulty in taking its reform agenda forward because of political opposition. 

The finance ministry official said all options will be considered at the review meeting. 

Interest rates on small savings schemes are benchmarked to the yield on government bonds and revised annually. The plans offer depositors interest rates as high as 9.3% while banks give 7.5-8% on a five-year fixed deposit of less than Rs 1 crore. 

In their competition for funds, banks are unable to lower rates significantly below those offered by small savings, and this prevents them from pushing down lending costs. 

The Indian Banks' Association (IBA) had raised the issue with the finance ministry and specifically pointed out that high interest rates offered under Sukanya Samriddhi Accounts and the Senior Citizens Savings Scheme eat into their deposits. 

"If the government can bring down the interest rates, it will have a bigger impact than tweaking done by Reserve Bank in its policy rates, as that affects only 2-3% of the banks' resources," said the chairman of a state-run bank, adding that such a move can possibly bring down the base rate by at least 50-100 basis points. A basis point is 0.01 percentage point. 

The base rate is the level below which a bank can't lend. In the past six months, the Reserve Bank of India (RBI) has cut its policy rate by a total of 0.75 percentage point at three times to 7.25% but banks have passed on less than half that reduction. The RBI is scheduled to make its next monetary policy announcement on August 4. 

During the finance ministry's review of state-run banks in July, bankers had raised the issue again. Finance minister Arun Jaitley said the government had "heard them." Small savings schemes currently include Savings Deposits of one, two, three and five-year terms; Recurring Deposits; the Senior Citizens Savings Scheme; National Savings Certificates (five and 10 years); Public Provident Fund (PPF); Kisan Vikas Patra and the Sukanya Samriddhi Accounts. 

The decision won't be easy as a reduction in rates will make the plans less attractive, which will impact the government's financial inclusion drive and could also increase the allure of gold. 

Besides, the government has also budgeted Rs 22,408 crore from small savings to meet its budget deficit. Economists are of the view that interest rates on small savings schemes need to change to reflect the shifts in the economy as inflation slows. 

"If the government manages to keep inflation low, investors will continue to get real returns on the money parked in these schemes, even if rates are lowered a bit," said DK Joshi, director and chief economist, Crisil.

ET view 

It's good that the finance ministry is lending an ear to banks and doing its bit to lower rates. Lowering artificially induced small savings rates, fixed by the ministry every year, will reduce their attraction vis-a-vis bank deposits. Postal and small savings deposit rates are supposed to be benchmarked to the market rates on government securities. But they should be revised more frequently, say, every quarter. It will help banks which are sitting on a pile of debt due to stalled projects as they need extra provisioning for bad loans. Additional capital, which the government has promised, will also help. 

Source : The Economic Times

30% salary hike confirmed in 7th Pay Commission for CG Employees

Sunday, August 02, 2015

30% salary hike confirmed in 7th Pay Commission for CG Employees

30% salary hike confirmed in 7th Pay Commission for CG Employees

"The wages of public sector bank employees are revised once every five years. The recent 10th Bipartite wage agreement gave them an increase of 15%."

United Forum of Bank Unions (UFBU) had initially put forth a demand of 21% wage hike. It was only after an extensive series of negotiations that the Indian Bank Association agreed to settle for 15%.

For Central Government Employees, once every ten years, a high level committee is constituted by Central Government to revise the pay and allowances. The commission will examine pay structure, concessions and facilities/benefits as well as retirement benefits of Central Staff based on Terms of reference given to them. The Commission has to  submit its recommendations within 18 months of the date of its constitution.

All the employees' Trade unions, Associations and Federations are given a chance to meet the committee and present their demands and expectations in the form of memorandums. All these stages have been completed. The pay commission is expected to submit its report to the central government this month. 

The prime question which comes naturally in every oneís mind is - how much increase the Central Government employees will get? 

In our point of view, all Central employees can surely get a uniform 30% increase in salaries with effect from 01.01.2016, irrespective of ranks and length of service. 

Let us assume that an employee who had been recruited after the implementation of the 6th Pay Commission, draws a salary of, on an average, Rs.30,000, including all allowances. Then, after the implementation of 7th Pay Commission, his salary will increase by 30%, and be Rs.39,000. 

Everybody, including the NC JCM and the news websites, is expecting maximum hike. That is entirely their discretion. They would have a reason too - simple reason is 'if you want to get what you want then you should ask more than thatí. They are hoping for a 60% to 70% increase'. 

This is where most misconceptions occur. Even English newspapers are no exceptions, and have misquoted the numbers. 

"The minimum basic pay, as decided by the 6th Pay Commission, was Rs.7000. The basic salary of the lowest rank employee, who was recruited after the implementation of the 6th Pay Commission, was Rs.7000 per month, plus allowances. Almost ten years later, the basic pay of the same lowest ranked employee who was recruited after July 2015, is Rs.15330 (7000 + 119% DA) and allowances. The Dearness Allowance, which is given twice a year, began at zero and has increased to 119% in the past 10 years". 

The Central Government employees' Federation, NC JCM Staff Side had, in its memorandum to the 7th Pay Commission, hoped for a revised minimum basic pay of Rs.26000 (a 70% hike), instead of Rs.15330. The Federation had detailed and defended with irrefutable explanations and justification for their demands. 

In News Media , Articles are being written questioning the basis on which the Federation is demanding a 3 times hike in salary..?  

In fact, it is not clear on what basis they are publishing articles that Federations were asking a 3 times salary hike and central govt employees can get 3 times hike !

"An employee's salary hike depends on a number of factors, including the pay commission, wage revision, promotion, etc. The normal procedure to find out the percentage of hike is to calculate it on the basis of the pre-hike salary. But, it is ridiculous to see some people calculate the increase based on the salary drawn by the employee ten years ago, and claim that they are going to receive multiple-times of salary hike."

It is almost tragic to see employees, lured by the misguiding claim of a Multiplication Factor of 2.86, assuming that there will be a threefold salary hike. 

The salaries of all Central Government employees from January 2016 onwards will be 30% higher than the pay of December 2015. 

People who differ from this opinion, and those who are convinced that it is very low, are requested to calculate the percentage of salary hike of December 2005 and January 2006. This was the hike recommended by the 6th Pay Commission. Also, if possible, try to find out the percentage of increase in salary of December 1995 and January 1996. This was hike recommended by the 5th Pay Commission. 

It has become very obvious that the Central Government employees are under some kind of spell when it comes to salary hikes. This is an attempt to dispel the illusion. 

I shall resume this article with your esteemed feedback. 

AICPIN for the month of June 2015 – Expected DA July 2015 finalized

AICPIN for the month of June 2015 – Expected DA July 2015 finalized

AICPIN for the month of June 2015 – Expected DA July 2015 finalized

No.5/1/2015- CPI

GOVERNMENT OF INDIA

MINISTRY OF LABOUR & EMPLOYMENT

LABOUR BUREAU

‘CLEREMONT’, SHIMLA-171004

DATED : 31st JuIy, 2015

Press Release

Consumer Price Index for Industrial Workers (CPI-I W) – June, 2015

The All-India CPI-IW for June, 2015 increased by 3 points and pegged at 261 (two hundred and sixty one). On 1-month percentage change, it increased by (+) 1.16 per cent between May, 2015 and June, 2015 when compared with the increase of (4) 0.82 per cent between the same two months a year ago.

The maximum upward pressure to the change in current index came from Food group contributing (+) 2.35 percentage points to the total change. At item level, Arhar Dal, Gram Dal, Masur Dal, Urd Dal, Groundnut Oil, Mustard Oil, Fish Fresh, Eggs (Hen), Poultry (Chicken), Milk (Buffalo & Cow), Onion, Chillies Green, Ginger, Vegetable items, Petrol, etc. are responsible for the increase In index. However, this increase was restricted by Rice, Mango, Lemon, Sugar, Electricity Charges, etc., putting downward pressure on the index.

The year-on-year inflation measured by monthly CPI-IW stood at 6.10 per cent for June, 2015 as compared to 5.74 per cent for the previous month and 6.49 per cent during the corresponding month of the previous year. Similarly, the Food inflation stood at 6.67 per cent against 5.99 per cent of the previous month and 5.88 per cent during the corresponding month or the previous year.

At centre level, Quilon reported the highest increase of 15 points followed by Godavarikhani (9 points) and Raniganj (7 points). Among others, 6 points inclease was observed in 4 centres, 5 points in 9 centres, 4 points in Il cenlres, 3 points in 8 centres, 2 points in 15 centres and 1 point in 11 centres. On the contrary, Ghaziabad centres recorded a maximum decrease of 2 points. Among others, I point decrease was observed in 6 centres. Rest of the 10 centres’ indices remained stationary.

The indices of 35 centres are above All India Index and other 42 centres’ indices are below national average. The index of Lucknow is at par with all-India index.

The next index of CPI-IW for the month of July, 2015 will be released on Monday, 31st August, 2015. The same will also be available on the office website www.labourbureau.gov.in.

sd/-

(S.S.NEGI)

DEPUTY DIRECTOR GENERAL

Source: www.labourbureau.nic.in