Sunday, November 22, 2015

Maharashtra will have to shell out 18,000 crore to implement seventh pay

The cash-strapped Maharashtra government might have to shell out Rs 18,000 crore initially to implement the 7th Pay Commission recommendations, which will cover its 1.7 million employees.

“The proposed one-time outgo of Rs 18,000 crore is a preliminary estimate. Justice AK Mathur has submitted his report to the Centre, which is yet to accept the recommendations. After the Centre gives its nod, the states will take them up for consideration. The Maharashtra Cabinet will hold a series of deliberations before giving its approval. The annual outgo may be in the range of Rs 5,000-6,000 crore. The final picture will be clear in due course of time,” Maharashtra Finance Minister Sudhir Mungantiwar told Business Standard.
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