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Sunday, October 25, 2015

Implementing OROP, 7th Pay Commission recommendations will not lead to cash crunch: Jayant Sinha

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Implementing OROP, 7th Pay Commission recommendations will not lead to cash crunch: Jayant Sinha

The Minister of State for Finance, Jayant Sinha, has said that implementing the One Rank One Pension scheme for military pensioners and the recommendations of the 7th Pay Commission will not bankrupt the nation.

The Union Minister of Finance Arun Jaitley had a meeting with the financial experts in New Delhi yesterday. Following the meeting, Mr. Jayant Sinha spoke to the mediapersons. He said –

“We are managing the country’s finances very well. Experts have appreciated our efforts. The government’s financial condition is very stable. Therefore, there wouldn’t be a cash deficit even if the government implements the recommendations of the 7th Pay Commission. Similarly, the government can very well manage the additional cash burden incurred by implementing the One Rank One Pension scheme for the military.

Extension of CSD Canteen Facilities to retired Defence Civilians

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Extension of CSD Canteen Facilities to retired Defence Civilians

GOVERNMENT OF INDIA
MINISTRY OF DEFENCE
DEFENCE ACCOUNTS DEPARTMENT
No. AN/VII/7063/CSD/Misc
Dated: 20.10.2015
To
All PCsDA/PCA(Fys) Kolkata, CsDA
(Through CGDA website)

Subject: Extension of CSD Canteen Facilities to retired Defence Civilians

Reference: This office letter of even No. dated 21.08.2015.

In continuation of the above, the following clarification on some of the common points raised in various representations received in this office is as under:

Government approves hike in bonus ceiling from Rs. 3500 to Rs 7000

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Government approves hike in bonus ceiling from Rs. 3500 to Rs 7000

NEW DELHI: The Cabinet decided to double the wage ceiling for calculating bonus to Rs 7,000 per month for factory workers and establishments with 20 or more workers.

“The Payment of Bonus (Amendment) Bill, 2015 to enhance the monthly bonus calculation ceiling to Rs 7,000 per month from existing Rs 3,500 was approved by Union Cabinet here,” a source said after the Cabinet meeting.

The amendment bill will be made effective from April 1, 2015. Now the bill will be tabled in Parliament for approval.

The bill also seeks to enhance the eligibility limit for payment of bonus from the salary or wage of an employee from Rs 10,000 per month to Rs 21,000.



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