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Interest Rate of General Provident Fund w.e.f. 1.1.2017 – Finmin Orders

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Interest Rate of General Provident Fund w.e.f. 1.1.2017 – Finmin Orders

Resolution – accumulations at the credit of subscribers to the GPF and other similar funds – 2017, w.e.f. 1st January, 2017

Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

New Delhi, Dated the 18th January, 2017


It is announced for general information that during the year 2016-2017, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 8.0% (Eight per cent) w.e.f. 1st January, 2017 to 31st March, 2017. This rate will be in force w.e.f. 1st January, 2017. The funds concerned are:-

1. The General Provident Fund (Central Services)
2. The Contributory Provident Fund (India)
3. The All India Services Provident Fund
4. The State Railway Provident Fund
5. The General Provident Fund (Defence Services)
6. The Indian Ordnance Department Provident Fund
7. The Indian Ordnance Factories Workmen’s Provident Fund.
8. The Indian Naval Dockyard Workmen’s Provident Fund
9. The Defence Services Officers Provident Fund
10. The Armed Forces Personnel Provident Fund.

2. Ordered that the Resolution be published in Gazette of India.

(Vyasan R.)
Deputy Secretary (Budget)

Authority: www.finmin.nic.in

Loans and Advances by the Central Government – Interest rates and other terms and conditions

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Loans and Advances by the Central Government – Interest rates and other terms and conditions

Government of India
Ministry of Finance
Department of Economic Affairs

New Delhi, the 6th January, 2017


Subject:- Loans and Advances by the Central Government – Interest rates and other terms and conditions.

Reference this Ministry’s Office Memorandum F.No.5(3)-B(PD)2015 dated 3rd February, 2016 on the captioned subject.

2. The lending rates, categories and conditions prescribed in the aforesaid Office Memorandum have been reviewed. The revised rates of interest, categories and conditions as given in the Table below, would be applicable from 1st April, 2016 and till the time these are reviewed:

Category of borrower & type of loan
Interest rate per cent per annum
1. State Governments (EAP Loan):
2. Union Territory Governments (with Legislature):

(i) Loans upto 1 year and EAP loan
(ii) Other Loans
3. Industrial and Commercial Undertakings in the Public Sector and Cooperatives: Loans for implemantation of VRS in sick PSUs

The terms and condition and conditions regarding eligibility of loan would remain the same as that of last year. If any specific request comes in future from any other financial institution/CPSE/Autonomous Body/Cooperative, it would be examined by the Budget Division, DEA on merits of that case.

3. The terms, including interest rate of loans to Foreign Governments may be settled in consultation with Budget Division. Terms for on-lending of funds under externally aided projects should be in accordance with the prescribed pattern. In case, deviation is considered necessary, Budget Division should be consulted.

4. The interest rates prescribed above assume timely repayments and interest payments and hence no further rebate in rates is to be allowed for timely payments.

(a) The loan sanctioning authority should meticulously follow the instructions contained in General Financial Rules, 2005 (GFR 2005), particularly, rules framed under Chapter 9 (II-LOANS) of
GFR, 2005, while sanctioning loans to various entities as stipulated therein.
(b) The instructions issued from time to time have been reviewed and are set out in the following paragraphs for facility of reference.

In the case of loans to State Governments, the arrangements for payment of annual instalment of principal and interest will be as under:-
(a) Block loans for State Plan Schemes and other Plan loans for Centrally Sponsored Schemes:- These loans when drawn in instalments, will be consolidated and deemed to have been drawn as on 1st October in each year. The maturity period of the loans sanctioned for State Plans is 20 years, repayments being made in 20 annual equal instalments together with interest on the outstanding balance commencing from the following year, subject to consolidation under the award of Twelfth Finance Commission (TFC).

However, fifty per cent of these loans will enjoy a five year initial grace period, after which repayments of these loans will be effected in 15 annual equal instalments. The amounts annually payable(by way of principal and interest) would be recovered in 10 equal monthly instalments commencing 15th June, subject to debt waiver under the award of TFC.

(b) Other Loans:- The terms of repayment of these loans will be as laid down from time to time.

(A) For new installations or expansion of existing institutions:
(a) The terms and conditions of loans should be fixed with reference to the financial picture presented in the approved Project Report. (Once the pattern is settled, there should be no change except with the specific concurrence of this Department for reasons to be stated in writing).(b) The capital requirements of a project should include adequate provisions for interest payment on borrowings during the period of construction (as specified in the Project Report). The interest on loans due during the period of construction will be allowed to be capitalised to the extent of the provisions made for this purpose in the approved Project Report. In other words, while interest on loans advanced to an undertaking during the period of construction will be notionally recovered by allowing its capitalisation, the payment of interest should effectively commence after the construction period is over.

(c) The repayment of principal should ordinarily commence one year after the project commences production, the number of instalments being determined with reference to the financial projections and repaying capacity specified in the Project Report. Requests for further moratorium will be considered only in exceptional cases where the Project Report has specified any special circumstances that may necessitate a longer period of moratorium and has indicated clearly what staggering of repayment would be needed over the necessary break period. The period of loans sanctioned against capitalised interest during the period of construction may also be on the same terms and conditions as are applicable to loans provided for financing the project costs.

(d) A suitable period of moratorium subject to a maximum of five years from the date of drawal of the loans may be allowed for the repayment of instalments of principal, having regard to the nature of the project, the stage of construction etc. The period of moratorium should not, however, extend in any case, beyond two years from the date of project going into production, or in the case of programmes of expansion, beyond two years from the date of expanded project coming into operation.

(B) For meeting working capital requirements: The undertakings are expected to obtain their cash credit requirements from the State Bank of India/Nationalised Banks by hypothecating their current assets (such as stock of stores, raw materials, finished goods, work in progress, etc.) and where the entire working capital requirements cannot be raised in this manner by seeking a guarantee from Government. Accordingly, requests from Public Sector Undertakings for funds for meeting working capital requirements should be considered only to the extent the same cannot be had from the State Bank of India/Nationalised Banks.

(A) (i) The period for repayment of loans for all parties other than State Governments should be fixed with due regard to the purpose for which they are advanced and it should be restricted to the minimum possible. Normally, no loan should be granted for a period exceeding 10 years. Where a longer period for repayment is sought, prior concurrence of the Budget Division in this Department will be necessary for fixing the period.
(ii) The repayment of a loan should normally commence from the first anniversary date of its drawal or on expiry of the period of moratorium, as the case may be. The recovery should ordinarily be effected in annual equal instalments of principal.
(iii) The period of repayment of working capital loans should preferably be restricted to two or three years. In no case, however, the period of these loans should exceed 5 years.

(B) Moratorium: Subject to exceptions made in respect of pubic sector projects, a suitable period of moratorium towards repayment might be agreed to in individual cases having regard to the project for which the loans are to be utilised. However, no moratorium shouldordinarily be allowed in respect of interest payment on loans. Ministries/Departments may with the approval of their Financial Advisers allow moratorium on repayment of principal wherever considered necessary upto a maximum period of 2 years.

(C) (i) Repayment before due date: Any instalment paid before its due date may be taken entirely towards the principal provided it is accompanied by payment towards interest due upto date of actual payment of instalment; if not, the amount of the instalment will first be adjusted towards the interest due for the preceding and current periods and the balance, if any, will alone be applied towards the principal. Where the payment of the instalment is in advance of the due date by 14 days or less, interest for the full period (half year or full year as the case may be) will be payable. If any State Government repays an instalment of a loan which is consolidated as on 1st October, in advance of the due date by more than 14 days the interest

(ii) Pre-payment premium: Prepayment premium of 0.25% on the loans with residual maturity of less than 10 years and 0.50% for the loans with residual maturity of 10 years and above, shall be charged. The provision does not apply to the loans to State/UT Governments.

(D) Penalty Clause: The loan sanctions/agreements should invariably include a penalty clause providing for levy of a penal rate of interest in the event of default in repayment of instalment(s) of principal and/or interest. The penal rate of interest should not be less than 2.50% above the normal rate of interest at which a loan is sanctioned.

(E) Defaults in repayment/interest payment:
(i) In the event of a default in repayment of loan/interest payment, the recovery of interest at penal rate may not be waived unless there are special reasons justifying a waiver. However, a decision in this regard will be taken by the Ministry of Finance (Budget Division) on the advise of Financial Adviser. Even in such cases, a minimum of 0.25% should be recovered from the defaulting party as penalty.

(ii) The penal rate of interest is chargeable on the overdue instalments of principal and/or interest from the due date of their payment to the date preceding the date of actual payment.

(iii) Whenever a fresh loan is to be sanctioned to a borrower who has earlier defaulted, the loan sanctioning authority must consider the question of recovery of defaulted dues. All releases to Public Sector Undertakings against budgeted outlays should be made only after adjusting the defaults, if any, pertaining to repayment of loans and interest. If for special and exceptional reasons such adjustments are not possible, specific orders of Secretary (Expenditure) should be obtained through Budget Division, before release of fresh loans, in relaxation of extant orders, in conformity
with this Division circular No.F.2 (190)-B(SD)/91, dated 15.10.1991.

(iv) Any defaults should ab-initio serve as a warning signal to the Ministries/ Departments for which curative action has to be taken immediately.

(v) Ministries/Departments need to critically review the financial position of the borrower, including defaulting CPSUs and wherever possible, should take immediate action to recover the money due to the Government.

(vi) In the case of defaulting CPSUs, there has to be a clear road map for restructuring of these CPSUs, as prolonged approval results in burgeoning of defaults.

(vii)Ministries/Departments are to ensure that these defaults do not become fiscally unsustainable.

(viii) Wherever Ministries/Departments are considering restructuring of a CPSU, it must be ensured that besides equity infusion, funds mobilisation, rescheduling of loans/interest payments, write off of dues, etc. should be formulated holistically. However, no request for waiver/postponement of instalments on any ground whatsoever will be accepted, except in cases of companies referred to BIFR or in respect of those companies which have incurred cash losses for last three years, in conformity with this Division circular No.F.2(165)-B(SD)/94, dated 06.10.1994.

(F) Requests for modification of terms of loans:
(i) Borrowers are required to adhere strictly to the terms settled for loans made to them and modifications of these terms in their favour can be made subsequently only for very special reasons. Requests for modification of terms may relate to increase in the period of a loan or of initial moratorium period towards repayment, or waiver of penal interest or reduction in or waiver of normal rate of interest. The procedure of dealing with requests for waiver of penal interest has already been dealt with in paragraph 8. Cases involving other modifications in repayment terms should be considered in consultation with the Budget Division in this Ministry. In referring such cases, the impact of the modifications on the estimates of repayment/interest which have gone into the Budget and Government’s resources position should be succinctly brought out by the administrative Ministry.

(ii) In examining proposals for modification of the period of the loan, the interest rate at which the loan was sanctioned should also be reviewed. In the case of a loan of which repayment has already commenced the revised rate of interest should be applied ab initio only to the residuary portion of the loan outstanding on the date of extension of its period.

(iii) Requests for waiver of recovery of normal interest (either for a specified period or for the entire period) on a loan which originally sanctioned at normal rate of interest, will attract the provisions of Rule 223 (1) of G.F.R.2005 and should be dealt with accordingly.

(G) Loans sanctioned at concessional rates:
(i) In cases where loans are to be sanctioned at a concessional rate, the instructions contained in Rule 223 (1) of G.F.R.2005 have to be observed. In such cases, payment of subsidy (to cover the concession viz. difference between normal rate and concessional rate) should be made conditional upon prompt repayment of principal and payment of interest thereon by the borrower.

(ii) In cases where loans are sanctioned interest free (e.g. loans to technical educational institutions for construction of hostels) prompt repayment should be made a condition for the grant of interest free loans. That is to say, the sanction letter in such cases should provide that in the event of any default in repayment, interest at rates prescribed by Government from time to time will
be chargeable on the loans.

(iii) Similarly, in the case of interest free loans to departmental canteens where subsidy is also provided to meet running expenses, the sanction letter should stipulate that in the event of any default in repayment, the defaulted dues would be recovered out of the subsidy payable.

(H) Miscellaneous: A standard form prescribed for issue of loan sanctions (Appendix-I) should ordinarily be followed.
(i) The date of drawal of a loan by the borrower will be date on which he received cash, cheque or bank draft from the Drawing and Disbursing Officer. It should be ensured that the time lag between the date of obtaining the cash/cheque/bank draft and its disbursement/delivery/despatch to the payee is reduced to the minimum. Where the cheque or bank draft is sent through post, the date of posting should be treated as the date of disbursement of the loan. The Drawing and Disbursing Officer should invariably intimate the date of payment to his Accounts Office to enable the latter to make a suitable note in his records.

(ii) In the case of loans sanctioned to parties other than State and Union Territory and Foreign Governments and Government Servants, the borrower should tender the amounts due on or before the due date, at the New Delhi Office/Main Office of the public sector bank accredited to the Ministry/ Department which sanctions the loan, in cash or by cheque or draft drawn on any scheduled bank in Delhi/New Delhi in favour of the said PSB Branch. The payment should be accompanied by a memorandum or challan in duplicate indicating (a) name of the loan sanctioning Ministry/Department; (b) No. and date of the loan sanction letter and the loan amount sanctioned; (c) amount due for payment separately for interest and principal and the head(s) of account to
which the dues are to be credited in the Government Accounts; and (d) due date of payment. The borrower should be asked to tender separate chequ Outstation loanees are required to arrange the dues through their bank ensuring that the memorandum/challan and the cheque/draft reaches the aforesaid PSB Branch in New Delhi by the due date.

(iii) Ministries/Departments are required to keep close watch on timely repayments of loans advanced by them and recovery of interest thereon. Rule 220 (1) (viii) of G.F.R. 2005 provides for a notice to be given to the borrowers a month in advance of the due date of payment of instalment of the principal and/or interest thereon. Such notices may be sent in the form given in Appendix II. The borrower should not however be given any advantage in the event of non-receipt of such a notice. Repayments/interest payments due from the loanees should also be reviewed at least quarterly, and where any default has occurred, a fresh notice should be served on the borrower to arrange payment with penal/higher rate of interest in the form set out in Appendix III.

(iv) Individual cases relating to terms and conditions of loans need not be referred to the Department of Economic Affairs (Budget Division) unless it is proposed to deviate from those laid down in
this Office Memorandum.

This issues with the approval of Finance Minister.

(Vyasan R)
Deputy Secretary (Budget)

Authority: www.finmin.nic.in

Streamlining the implementation of the NPS tor Central Govt Employees – NC JCM Staff Side

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Streamlining the implementation of the NPS tor Central Govt Employees – NC JCM Staff Side

Meeting of the Committee constituted to suggest measures for streamlining the implementation of the NPS tor Central Govt Employees — Reg.

Shiva Gopal Mishra
Ph: 23382286
National council (staff Side)
Joint Consultative Machinery for
Central Government Employees
13-C, Ferozshah Road, New Delhi-110001
E-Mail : nc.jcm.np@gmail.com
No. NC-JCM-2016/ Pension
Dated: January 20, 2017
The Secretary (Pension)
NPS Committee
Deptt. Of Pension & Pensioners’ Welfare
Floor, 1.0k Nayak
New Delhi

Sub:- Meeting of the Committee constituted to suggest measures for streamlining the implementation of the NPS tor Central Govt Employees — Reg.

Ref : Letter No 57/1/2016-P & PW(B) dated 16th January 2017

Kindly refer to your aforementioned letter, At the outset we request you to kindly favour us with a copy of the Government Notification setting up the Committee to make suggestions 10 streamline the National Pension system For Central Government employees, This is needed for us to understand the scope and ambit of the functioning of the Committee.

The 7th CPC in their report in paras 10.3. 11 to 10.3.25 has enumerated the plethora of complaints received by it over the NPS and finally recommended t0 the Government to set up a Committee t0 look int0 those issues and address. However, we are constrained to believe from the reading of para 3 of the letter cited that the Committee is likely 10 have only a perfunctory consultation with the stakeholders on an important issue like this.

In any case, we give hereunder our views in the matter with the fervent hope that the Committee will consider it within the time constraints.

1.We are of the firm view that the Central Government employees as a whole must be fully excluded from the ambit of the defined contributory pension scheme for Otherwise it would create two classes amongst them, one making subscription; and another making no subscription but receiving a better pension and Other retirement

2.There is no justification for thc Government to deduct pension contribution from the Central Government employees, even as per the recommendation or the 7th CPC they are provided with far lesser Minimum wage that what it should have been as per the norms of Dr. Aykroyd formula, approved by the 15th ILC and subsequent judgement of the Supreme Court.

3.This apart, we were assured by the Government during the Standing Committee meeting discussions held on 14.12.2007 that

“for employees who had entered with effect from . 1.1.2004 are not likely to be worse Off vis a vis the Current pension system in force as the replacement rate would match to the present one. Thus NPS is a win-win situation for employees and the Government”.

Without deviating even an iota from our firm position enumerated in No. I above, the least the Government must do to honour the assurance given earlier is to guarantee that all Central Govt. employees who arc recruited with effect from 1.12004 and have thus become mandatory subscribers to the NPS receive all benefits of pension, family pension and ocher retirement benefits as is provided for under the CCS(Pension) Rules applicable to the Central government employees who ure recruited prior to 1.1.2004.

To illustrate the point that the Central Government employees, who are recruited with effect from 1.1.2004 are provided with a paltry in the form of pension in total disregard to the assurance held out by the Government on 14.12.2007 we enclose herewith the details of pension entitlement computed in the case of a person, who was recruited 1.1.2004 and retired after 12 years of service in one Of the Ordnance factories under the Ministry or Defence. This person is being paid a paltry amount of Rs 960/— p.m. as pension from NPS, whereas after the implementation of the 7 CPC recommendations the minimum pension is Rs 9000/- DA p.m. with effect from 01-01-2016.

In fine, We feel that it would be better if the Committee could convene a meeting as is convenient to all its members so that a full-Fledged discussion could be held on this Vital issue which is of utmost importance to a large segment of employees recruited after 01-01-2004 whose number is increasing day by day.

Thanking you

Yours Sincerely
(Shiva Gopal Mishra)

Source: http://ncjcmstaffside.com/

Instructions on sealed cover procedure – where Government servant has been acquitted but appeal is contemplated/pending – Dopt

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Instructions on sealed cover procedure – where Government servant has been acquitted but appeal is contemplated/pending – Clarification regarding

Government of India
Ministry of Personnel, Public Grievances and Pensions
Department of Personnel & Training
Establishment A-III Desk
North Block, New Delhi
Dated: 19th January, 2017

Subject: Instructions on sealed cover procedure – where Government servant has been acquitted but appeal is contemplated/pending – Clarification regarding.

The undersigned is directed to refer to this Department’s O.M. No. 22011/4/91-Estt.A dated 14.09.1992 issued in the light of the Judgement dated 27.08.1991 of the Hon’ble Supreme Court in the case of Union of India v/ s K.V. Jankiraman etc. (AIR 1991 SC 2010). References have been received seeking clarification with regard to the course of action in cases where the Government servant is acquitted by trial court but an appeal against the judgment is either contemplated or has been filed. This issue has been examined in the light of various court judgements including Bank of India and another vs. Degala Suryanarayana, Appeal (Civil) 3053-54 of 1997, (1999) 5 SCC 762 in consultation with Department of Legal Affairs and it is clarified as following:

i. Where the recommendation of DPC has been kept in sealed cover solely on account of pendency of the criminal case, the sealed cover may be opened in case of acquittal of the Government servant provided it has not been stayed by a superior court.

ii. In the order of promotion a mention may however be made that the promotion is provisional subject to the outcome of appeal that may be filed against, the acquittal of the Government servant. The promotion thus will be without prejudice to the action that may be taken if the judgement of the trial court acquitting the Government servant is set-aside.

iii. In case on appeal the Government servant stands convicted, following action will be taken:

a. The provisional promotion shall be deemed non est, and the Government servant shall stand reverted;

b. In case of the Government servant being sentenced to imprisonment exceeding 48 hours, he will be deemed to be  under suspension in terms of rule 10(2)(b) from the date of conviction;

c. Action under rule 19 (i) of the CCS(CCA) Rules, 1965, read with OM No. 11012/11/85-Estt (A) dated the 11th November, 1985 and 4th April, 1986 shall be taken.

2. All Ministries/ Departments are requested to bring the aforesaid instructions to the notice of all concerned and take action accordingly.

3. Hindi version will follow.

(Mukesh Chaturvedi)
Director (E)

Authority: http://dopt.gov.in/

Ceiling on IT for salaried persons should be raised to Rs.7.5 lakh: AIBEA to Jaitley

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Ceiling on IT for salaried persons should be raised to Rs.7.5 lakh: AIBEA to Jaitley

The ceiling on Income Tax for salaried persons should be raised upwardsto Rs 7.5 lakh with exclusion of fringe benefits like housing,medical and educational facilities.

The IT rate above Rs 7.5 lakh and upto Rs 12 lakh shall be 10 per centand above Rs 12 lakh upto Rs 20 lakh 20 per cent and Rs 20 lakh andupto Rs 25 lakh it should be 25 per cent, All India Bank Employees’Association ( AIBEA) General Secretary C H.Venkatachalam said while submitting suggestions for consideration in next budget being finalized bythe Central government.

In a letter to Finance Minister Arun Jaitley, Mr Venkatachalam said theIncome Tax slab for rich individuals should be raised significantly. Forannual incomes between Rs 25 lakh and Rs 1 crore, tax rate should be 35 per cent and for annual Income above Rs 1 crore, it should be 40 percent.

He said Uniform tax rates for goods should be introduced throughout the country and adequate compensation should be paid to the state governments by the Centre for such introduction, for the revenues that would be affected by such move.

On the banking Sector, the AIBEA leader suggested to the Minister that the rate of interest on Savings Bank deposits shall have to be revised upwardly by atleast 2 basis points and the interest on fixed deposits shall be exempted from the purview of IT.

The banks should extend agriculture loan at the rate of 2 per cent per annum ( simple) and the banks should extend education loan at concessional rate of interest to the poorer sections of the people, at the rate of 5 per cent per annum (simple) with interest subvention.

Mr Venkatachalam also said in the letter that all private sector banks should be brought under the public sector, government should hold full control of public sector banks with 100 per cent equity holding and shall not disinvest its shareholding.

Wilful default of bank loans should be declared as a criminal offence through suitable amendment to law and the RBI should publish the list of defaulters every six months with updates, who owe to the banks more than Rs 1 crore.

Mr Venkatachalam also said Fast track courts shall have to be vested with more powers to recover the bad loans and stringent laws should be enacted to ensure more recovery.

Laws should be amended to confiscate the assets of the directors in case of default by a company, in which they are directors, the top AIBEA leader suggested to Mr Jaitley.

There should be expansion of Public Sector banks and to that effect, morebranches should be opened in unbanked and rural areas, he said, adding that the merger of Associate/Subsidiary Banks of SBI with State Bank of India should be abandoned, as this would adversely affect the regional economy of the states in which the Associate/Subsidiary Banks are operating and in such areas of operations, they perform better than the SBI.

On the Rural sector, the AIBEA General Secretary suggested Mr Jaitley to ensure minimum civic amenities, the Panchayati Raj institutions should be strengthened with adequate budgetary allocations, education among rural children should be made compulsory through more enrolments in the government schools.

On Agriculture, he said, the investment in agriculture shall have to be made both by the Central and the state governments through increase in budgetary allocations, lands acquired by the banks in Settlement of loans by the small and marginal famrers must be returned to the original owners on repayment of installments on the basis of similar deals in respect of commercial companies.

Touching Education, Mr Venkatachalam said education to children should be made compulsory and the government schools should be recruited with qualified teachers to provide worthy education and added Child Labour Act should be amended so that the children should not be made to work even in ‘family run’ business. National Health Policy should be adopted and there should be National drug policy and prices of life-savings and essential drugs should be controlled, he mentioned on Health Care.

On prices, Agricultural Market Produce Committees (APMC) Act should be repealed and abolished, as these compels and forces the farmer to sell his produce to middlemen in authorized Mandis ( Markets). Farmers should be allowed to sell their products directly in the market without intermediaries/wholesalers/middlemen,he added.

On Labour Laws, Mr Venkatachalam urged the Minister that the judgement of Supreme Court be implemented to ensure ”equal pay for equal work” at all private and public sector establishments, the Contract Labour ( Regulation & Abolition) Act, 1970, should be amended to absorb the contract workers in permanent employment of the ‘principal employer’ if contract labour is abolished by the government.

On Public Sector Units, he said budgetary allocation should be made to all the sick, revivable and potentially viable public sector units, appointments of Chiefs of Public Sector Units that are remaining vacant should be expedited and massive investments in Public Sector should be made to make concerted efforts to generate public employment.

All Foreign Trade Agreements (FDA), Bilateral Investment Treaties (BITs), Double Taxation Avoidance Agreements (DTAAs) should be reviewed comprehensively in country’s economic interest as through these treaties and agreements, the black money stashed away are ploughed into India as FDI the AIBEA leader said and added that FDI in Public Sector Units, LIC, Private Sector banks, Services, Defence should not be allowed and such policy decisions should be scrapped.

Source: http://www.aibea.in/

Secretary staff side/JCM writes to Shri Rajnath Singh about the demands of Central Government Employees

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Secretary staff side/JCM writes to Shri Rajnath Singh about the demands of Central Government Employees

Shiva Gopal Mishra 
Ph: 23382286
National council (staff Side) 
Joint Consulative Machinery for 
Central Government Employees 
13-C, Ferozshah Road, New Delhi-110001 
E-Mail : nc.jcm.np@gmail.com
No.NC-JCM-2016/7th CPC
Dated: January 17, 2017
Shri Rajnath Singh,
Hon’ble Home Minister,
North Block
New Delhi

Dear Sir,
We solicit your kind reference to the discussion the Staff Side delegation had with you and your esteemed colleagues in the Cabinet – Hon’ble Finance Minister, Railway Ministers – on 3oth June 206 and subsequently with your good self on 6th July 2016. In the light of the assurance held out for reconsideration of the minimum wage and multiplication factor through the setting up of a high level committee within a time frame of four months, the National JCA had deferred the strike action which was to commence from 11.07.2016.

We had been patiently waiting for a meaningful discussion in the matter ever since then. Not only there had been any worthwhile or meaningful discussions thereafter but no settlement was also brought about till today though more than six months have been elapsed.

The National JCA met yesterday (17-01-2017) and almost all members expressed extreme disappointment over the turn of events. However, they felt that a meeting with your good self must be sought to sort out the issue amicably.

We shall therefore be grateful if you can indicate a date and time convenient to you, so that the undersigned along with Dr. M Raghaviah, the Leader of Staff Side, JCM could call on you with a view to explore reaching an agreement. Incidentally, we feel that it must be our responsibility to convey to you that the Central Govt Employees throughout the country are extremely critical of the fact that the Government had not found it possible to accept even a single issue taken up the Staff Side, JCM after the 7th CPC submitted its recommendations to the Government.

This apart, the CG Pensioners numbering presently more than the working employees are aggrieved of the fact that the one and only recommendation of the 7th CPC which was in their favour i.e. option No.1 have been recommended to be rejected by the Pension Department to the Government.

Expecting a communication for an early meeting and thanking you.

Sincerely Yours,
(Shiva Gopal Mishra)
Secretary(Staff Side)
National Council(JCM)

Source: http://ncjcmstaffside.com/

General Budget 2017-18 – NFIR’s proposals for consideration

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Grant House Rent Allowance at the rate of 30%, 20% & 10% of 7th CPC Pay to the Central Government Employees working at Cities/Towns classified as ‘X’ ‘Y’ &’Z’ respectively with back date.

General Budget 2017-18 – NFIR’s proposals for consideration

National Federation of Indian Railwaymen
3, Chelmsford Road, New Delhi-110 055
Affiliated to :
IndIan National Trade Union Congress (INTUC)
International Transport Workers’ Federation (ITF)

No.IV/Budget/Part III
Shri Arun Jaitley,
Hon’ble Minister of Finance,
North Block, New Delhi.

Dear Sir,
Sub: General Budget 2017-18 – NFIR’s proposals for consideration

The National Federation of Indian Railwaymen (NFIR) requests the Hon’ble Finance Minister to consider its proposals listed below for inclusion in the General Budget 2017-18 to be presented in Parliament in February, 2017.

1. The Income Tax exemption limit for Central Government Employees may be raised to atleast Rupees Six Lakhs

2. The Income Tax exemption limit for senior citizens may be raised to Rs.7.5 lakhs and for those Senior Citizens above 75 years age, the exemption be allowed up to Rs.10 lakhs.

3. Transport Allowance presently paid to the Central Government Employees may be exempted from the purview of Income Tax.

4. Fixed Medical Allowance to the retired Central Government Employees may be revised to not less than Rs.2,000/- Per month.

5. Grant House Rent Allowance at the rate of 30%, 20% & 10% of 7th CPC Pay to the Central Government Employees working at Cities/Towns classified as ‘X’ ‘Y’ &’Z’ respectively with back date.

6. Contract Labour performing jobs of perennial nature be granted wages at par with the regular employees performing similar jobs.

7. Child Care Leave for women employees be revised upwardly.

8. Pension parity be granted all those pre 1.1.2016 Pensioners of Central Government.

Proposals – Railway Specific

9. Additional funds be allocated for augmenting Railway Training Institutes and Railway Community Halls, Recreation Clubs etc’.

10. More funds may be provided for construction of new quarters in the Railways and for maintenance of Railway colonies.

11. Training Allowance for Trainers in Railways Training Institules may be enhanced to 30% of pay in lieu of the existing 15%.

12. Separate Rest Rooms for Women Railway Employees at different locations be sanctioned to enable them to stay when they visit on railway duties.

13. Additional Road Mobile Medical Vans may be approved for providing medical treatment to the railway employees and their families living at remote places and jungle stations.

(Dr. M.Raghavaiah)
General Secretary

Source: NFIR

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