Bank D.A. to increase 48 slabs for the quarter Nov'13 to Jan'14

Our earlier  Projections of 48 slabs increase in Bank Staff DA is exact now. 

                       Labour Bureau,Ministry of Labour & Employment,Govt.of India has released the All India Consumer Price Index Numbers (IW) Base 2001=100 for the month of September’13 today which stood at 238   points with an increase of 1 point compared to August’13.

                      Accordingly the confirmed average CPI-IW (Base 1960=100) for the quarter will be as follows: 

                                  Base   2001=100                     Base 1960=100 

 July                                      235                                      5364.09

August                                   237                                      5409.74

September                            238                                      5432.56            

                 Thus the DA payable for Bank Staff for the quarter November’13  to January14 will show an increase of 48 slabs @ 96.15   % (Increase of 7.20% from existing 88.95%) as per details furnished here under:-

 Confirmed average Index Numbers for the quarter    5402.13                                                                            

Less merged points(9^th BPS)                                 2836

                                                                         -------------

                                                                            2566

No of Slabs                                                             641

Increase in slabs( 000  641-593 old)                            48

 48 x0.15 %                                                          96.15%

Please note that IBA will issue the circular shortly.

Calculation by Mr Mohan P

Special Thanks to Mr Debashis Das

Consumer Price Index Numbers for Industrial Workers (CPI-IW) September 2013

According to a press release issued by the Labour Bureau, Ministry of Labour & Employment the All-India CPI-IW for September, 2013 rose by 1 points and pegged at 238 (two hundred and thirty eight). On 1-month percentage change, it increased by 0.42 per cent between August and September compared with 0.47 per cent between the same two months a year ago. 

CBEC Cadre recast only if it meets tax collection target

The indirect tax (excise, customs and service tax) target for 2013-14 is R5.65 lakh crore.

Given that achieving the tax revenue target is critical to keeping the fiscal deficit within the budgeted level of 4.8% of GDP, the cabinet secretariat has told the Central Board of Excise and Customs (CBEC) that the proposed cadre recast of CBEC officials hinges on the board hitting the tax collection figure set for this fiscal. The indirect tax (excise, customs and service tax) target for 2013-14 is R5.65 lakh crore.

The cadre restructuring promises better career prospects for CBEC’s 20,000-strong staff and more secretary-level jobs in the department.

CBEC cadre review update as on 28.10.2013

It is learnt that the draft Cabinet Note prepared by the Board and sent, after the Finance Minister  approved the same,  to the Ministry of Law, the Deptt of Expenditure and the DoP&T for their comments,  will be sent latest by 05.11.2013 to the Union Cabinet.  

Andhra increases Dearness Allowance from 1.7.13, Issued order

Andhra Pradesh Chief Minister N. Kiran Kumar Reddy on Saturday sanctioned dearness allowance of 8.56 per cent from July 2013 to all the government employees, pensioners and village establishment staff in the state.

About 14 lakh current and former employees will benefit by the decision. The increased allowance will be paid in cash alongwith the October salary, an official release said here.

The financial implication will be Rs 2,396.22 per annum. Arrears of DA from July to September 2013 will be credited to the GPF accounts.

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