AICPIN for the month of November 2017

Consumer Price Index for Industrial Workers (CPI-IW) — November, 2017

The All-India CPI-IW for November, 2017 increased by 1 point and pegged at 288 (two hundred and eighty eight).

Small savings rate slashed, GPF rate set to reduce in the new year

The government on Wednesday cut the interest rate on small savings schemes, including public provident fund (PPF), national savings certificate (NSC) and Kisan Vikas Patra, by 0.2 percentage points for the January-March quarter, a move that will prompt banks to lower deposit rates.

Interest rates in the five-year Senior Citizens Savings Scheme, however, has been retained at 8.3%. The interest rate on the senior citizens’ scheme is paid quarterly.

A finance ministry notification said interest rates have been reduced across several small savings schemes but that for savings deposits has been retained at 4% annually.

Click here for the notification

As the GPF rate is maintained at par with PPF, it is certain that it will be reduced to 7.6% from the existing 7.8% from 01.01.2018

West Bengal D.A. arrears : locked in High Court

The matter of government employees' DA has been in the center of the discussion throughout the year in the state. Government employees claim, dues are dues On the other hand, the Chief Minister claims, there is no DA owing. The High Court is suing the matter. Let's take a look at the stage of government movements of the DA movement.

Regarding DA 
Usually, the increase in the DA of Central Government employees, State Government employees also increase the DA. That was the rule of the last Left government. Although there was a difference of 10 to 12 percent. Nevertheless DA is similar. But since the coming of the Trinamool government in the state, the situation has changed. Gradually, the central employees of the state's DA differ. Now it's almost 50 percent.

Bank strike on Dec 27 deferred; IDBI Bank assures to settle wage revision

The nation-wide bank strike called on December 27 by the All India Bank Employees Association (AIBEA) and the All India Bank Officers Association (AIBOA) stands deferred.

This follows the IDBI Bank Management agreeing to complete the wage settlement within a month, C H Venkatachalam, General Secretary, AIBEA, told BusinessLine here.

The assurance came at the conciliatory meeting convened by the Chief Labour Commissioner with the bank staff unions over wage revision at IDBI Bank that is due from November 1, 2012.

Source : Business Line

Karnataka state Govt. pay report : update

Minimum basic for state govt staff may be fixed at Rs 16,350

The sixth pay commission constituted by the state government said on Saturday it is yet to finalise its report, even as "draft recommendations" regarding hike in pay scales for government employees did the rounds in media circles.

According to the draft, the minimum pay scale of employees will increase from Rs 9,600 to Rs 16,350 (for Group D).

However, when contacted commission chairman M R Srinivasa Murthy said the four-member panel is yet to finalise its report and they have time till January 31 to submit their recommendations to the government.

Other proposed recommendations doing the rounds: Group C: Basic - Rs 11,600 to Rs 19,850; FDA: Rs 14,500 to Rs 24,925; Group B: Rs 22,800 to Rs 39,425; Group A: Rs 28,100 to Rs 48,625.

The panel was constituted by the government on June 1, 2017.

Source : Deccan Herald

Extension of deadline till 31.3.18 for submission of Aadhaar number, and Permanent Account Number

Extension of deadline till 31.3.18 for submission of Aadhaar number, and Permanent Account Number or Form 60 by client to the reporting entity

After considering various representations received and inputs received from Banks, it has been decided to notify 31^st March, 2018 or six months from the date of commencement of account based relationship by the client, whichever is later, as the date of submission of the Aadhaar number, and Permanent Account Number or Form 60 by the clients to the reporting entity. Necessary notification in this regard has been issued.

Central staff to seek PM's attention over minimum pay hike demand

Central government employees seeking higher minimum pay and fitment factor hike beyond the 7th Pay Commission recommendation will now approach Prime Minister Narendra Modi to get their demands fulfilled, said a report.
 
“We have faith in Prime Minister’s office, we have faith in PM Modi. We are sure that in order to maintain good industrial relations in the country, PM Modi will find an alternate solution," said the India.com report quoting Shiv Gopal Mishra, NJCA convenor.

Probable Central D.A. from 1st January 2018

With the increase of AICPIN number for October 2017 by two point, everybody is waiting to know the probable DA from 1.1.2018.
As we know that data for November and December is required to calculate the exact amount of D.A. payable from 1st January. These data will be made available on 31st December and 31st January.
If it is assumed that current level (287) is maintained in the next two months, there will be an increase of 2% D.A. / D.R. payable from 1st January 2018. The position can change only if the number drastically increases or decreases in the next two months.
So it can be predicted that there will be an increase of 3% D.A. / D.R. from 1st January 2018. 

Maharashtra government looks to cut 30% of workforce

In a move that can only be described as bitter irony, the Maharashtra government is looking to shave its workforce by 30 per cent so that it can afford to pay the remaining employees as per the Seventh Pay Commission recommendations that are due to be implemented soon.

Faced with a mounting salary bill, the finance department in May issued a Government Resolution (GR) asking all departments to submit new masterplans on their staffing needs.

The GR noted that for long-term financial stability, the increase in expense on salaries should not be more than the average rise in revenues. It stressed that "different departments must cut the demand for human resources by 30 percent by trying to bring in efficiency through use of information technology".

Rajasthan government announces arrears for employees

he Rajasthan government on Saturday announced that it will provide benefits under the Seventh Pay Commission recommendations to nearly 12.5 lakh employees and pensioners in the state with effect from January 1, 2017.

The move will put an additional burden of ₹10,400 crore every year on the government and the arrears will be paid in three installments, state Industries Minister Rajpal Singh Shekhawat said in a news conference.

Click here for Govt. Press release

The decision was taken on the basis of a report summated by the DC Samant committee that was formed to examine and implement the recommendations of the seventh pay commission in the state.

The arrears will be effective from January 1, 2017 and will be given in three installments – 30% in April 2018, 30% in July 2018 and 40% in October 2018, the minister said.

Shekhawat said under the pay commission, government employees and pensioners will get a minimum increment of 14. 22%.

There will be minimum 32% increase in the basic pay and employees will get over 100% increased house rent allowance, he said, adding that the maximum limit of payable gratuity was increased from ₹10 lakh to ₹20 lakh.

Earlier, chief minister Vasundhara Raje had announced to implement the recommendations of the pay commission before Diwali and had also released a notification, saying that the arrears will be in effect from October 1, 2017.

But state government employees are unhappy with the announcement.

Reacting to the government’s decision, Akhil Rajasthan Rajya Karamchari Sanyukt Sangharsh Samiti member Tej Singh Rathore said the government has made an incomplete announcement to crush the employee’s agitation and the proposed Aakrosh rally on Sunday.

State government employees’ union were, however, angry over arrears not being given from October, and had threatened to stage a statewide Aakrosh rally from December 3.

AICPIN for the month of October 2017

Consumer Price Index for Industrial Workers (CPI-IW) — October, 2017

The All-India CPI-IW for October, 2017 increased by 2 points and pegged at 287 (two hundred and eighty seven).