Tuesday, November 24, 2015

Odisha to cost 5000 Crore more to implement 7th pay commission in state

The recommendations of the Seventh Pay Commission may bring additional annual financial burden of about Rs 5,000 crore towards payment of increased salary and pension to the state government staff if the state decides to implement the panel report in toto.
If the panel report is accepted in toto by the state, as was the case with previous Sixth Pay Commission, the state will spend about Rs 3000 crore more annually to pay higher salary to its five lakh employees and also fork out additional Rs 2000 crore to pay pension at the increased rate.
"The pay panel has just submitted its report. It has to be examined and approved by the cabinet. Let us see if it is being implemented as it is or there are changes. Then we will act on it and estimate what kind of additional financial burden will come on us if the salaries are adjusted in the state as per its recommendations", state finance secretary R. Balakrishnan told Business Standard.
He, however, said, the state is well equipped to meet the challenge of providing for any additional expenditure as and when the necessities arise.
Click here for full report in Business Standard

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