The Budget 2016 needs to provide Rs 1.10 lakh crore for implementing the One Rank One Pension (OROP) scheme and 7th Pay Commission award, besides a higher allocation for the farm sector, Finance Minister Arun Jaitley said on Friday.
Addressing the Consultative Committee attached to the Finance Ministry, he also said that India has a potential to grow at a much faster pace even as he exuded confidence that fiscal deficit target for the current financial year will be within target.
The 7th Pay Commission in November had recommended an increase in remuneration of about one crore government employees and pensioners, which are estimated to impose an additional burden of Rs 1.02 lakh crore in 2016-17. The new pay scales, subject to acceptance by the government, will come into effect on January 1, 2016.
The government had last year announced that it will implement OROP Scheme under which a uniform pension would be given to armed forces personnel retiring at the same rank with the same length of service. The scheme would be implemented from July 1, 2014.
"During the financial year 2016-17, the Central government has to make provision for about Rs 1.10 lakh crore in order to meet the liabilities on account of implementation of 7th Pay Commission recommendations and OROP Scheme," Jaitley said.
3 comments :
It is clear from the supposed provision that the government is not going to enhance the pay any more than what have been proposed by the 7th CPC
Have in mind all .If the Congress government not set the 7th pay commission the employees will be deprieved of. And teach lesson to the concerned.
yes true
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