8TH PAY COMMISSION
DA hike latest update: Will central govt employees, pensioners get 18-month DA arrear? PM gets a proposal
7th Pay Commission Dearness Allowance Latest Update: Dearness allowance is a component of salary of the government employees and pensioners. It was introduced to help government employees cope with rising inflation. Will the central government employees and pensioners get arrears for the dearness allowance (DA) and dearness relief (DR) suspended for 18 months during the COVID-19 pandemic? Prime Minister has received a proposal. All you need to know
DA hike update: Will Central Govt employees, pensioners get 18-month DA arrear? FM gets proposal
7th Pay Commission Dearness Allowance Latest Update: Dearness allowance is a component of salary of the government employees and pensioners, aimed at soothing the impact of inflation. Will the central government employees and pensioners get arrears for the dearness allowance (DA) and dearness relief (DR) suspended for 18 months during the COVID-19 pandemic? Finance Ministry has received a proposal. All you need to know
Thousands of doctors go on strike in England a week before the UK general election
The five-day strike by junior doctors - those in the early years of their careers - shines a spotlight on the troubles besetting the chronically underfunded National Health Service, Britain's state-funded public health system, a topic that is a a top concern for voters going to the polls on July 4.
Apple charged with violating EU's antitrust tech law, may have to pay fine of $38 billion.
Apple has become the first US tech giant to be charged under the European Union’s tough new antitrust tech law. If found guilty, its fine may soar up to $38 billion.
Finance Commission to address issues of freebies, compensation for green cover: Chairman Panagariya
The 16th Finance Commission will tackle issues related to the distribution of freebies and compensation for providing green cover, Chairman Arvind Panagariya announced on Monday. After discussions with the Himachal Pradesh government, Panagariya explained that the state's expectations and needs were addressed during a detailed presentation.
EC receives applications for EVM verification on 8 LS seats in 6 states
Eight candidates seek EVM chip verification post Lok Sabha results, rejected by Supreme Court; BJP's Sujay Vikhe-Patil seeks verification after losing to NCP's Nilesh Lanke; YSRCP and DMDK candidates also apply; verification in 92 polling stations; cost per EVM set Rs 47,200 plus GST; YSRCP and BJD candidates also apply for EVM check
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8th Pay Commission: 'New proposal to set up 8th Pay Commission immediately to increase basic, DA of central govt employees'; what is the due date of 8th CPC?
8th Pay Commission Latest Update: The National Council (staff side, Joint Consultive Machinery for central government employees) urge formation of 8th Pay Commission citing rising inflation and increased revenue of the Centre. In a letter to the Cabinet Secretariat, Shiv Gopal Mishra, Secretary, National Council (staff side, JCM) claimed a gap exists between Dearness Allowance (DA) and actual price rise. He pointed to a doubling of government revenue since 2015 and decreased workforce as reasons to justify higher pay, allowances, and pensions of the central government employees.
India looks to sign FTA after UK elections, 8th round of talks soon
The India-UK Free Trade Agreement (FTA) is set to be signed after the UK's elections on July 4. So far, 13 negotiation rounds have been completed, focusing on reducing tariffs and addressing regulatory concerns. Both sides aim to finalize the FTA to enhance bilateral trade, currently valued at GBP 38.1 billion annually.
DA hike: Will basic pay of central govt employees, pensioners increase as DA, DR touch 50%, as per the 7th Pay Commission?
DA hike latest news update: There have been speculations about a possible hike in basic pay for central government employees and pensioners in July 2024 as dearness allowance (DA) and dearness relief touch 50%. Usually, the DA and DR of the central government employees and pensioners increase from July. Are central government employees and pensioners looking for a hike in basic pay from July 2024? ET Wealth Online spoke with various experts to understand the regulations of Pay Commissions and how they will impact the salaries of central government employees and pensioners.
FY24 GDP growth at 8.2 pc great news for India: Panagariya
Arvind Panagariya, the chairman of the 16th Finance Commission, praised India's GDP growth rate of 8.2% for the fiscal year 2023-24, calling it "great news for India." However, the National Statistical Office (NSO) reported that India's economy grew at a four-quarter low of 7.8% in the March quarter. The GDP growth rate for the fiscal year 2023-24 surpassed the 7% recorded in the previous fiscal year. ICRA Chief Economist Aditi Nayar noted a sequential slowdown driven by investment activity, while PHDCCI President Sanjeev Agrawal highlighted the growth as a reflection of efforts towards "Viksit Bharat by 2047."
7th Pay Commission news: Gratuity limit now hiked for central government employees after Dearness Allowance (DA) touches 50%
DA hike impact: The Center's decision to increase its employees' dearness allowance by 4% to 50% has resulted in significant revisions to other allowances, including retirement gratuity, which is a great benefit for government employees.
View: Our cities need granular heat-risk data, hyperlocal heat action plans down to the ward level
Mungeshpur, north of New Delhi, recorded a record temperature of 52.9°C, raising concerns about urban heat stress in Indian megacities due to urbanisation, humidity, and reports from Mumbai and the Centre for Science and Environment.
RBI's record dividend invites mixed reactions from economists
The Reserve Bank of India's (RBI) decision to declare its highest-ever dividend of Rs 2.11 lakh crore has sparked mixed reactions from economists. Noted economist Suman Mukherjee views it as a sign of economic strength, attributing the windfall to various factors such as a surge in foreign exchange reserves and proactive government management. Mukherjee believes that maintaining low interest rates will counter potential recessionary effects.
Wipro’s Rishad Premji takes pay cut, ex CEO Delaporte takes home $20 mn
Wipro executive chairman Rishad Premji declined variable pay for the second consecutive year due to negative profit growth. He took a 20% pay cut, earning $769,456 in FY24. Former CEO Thierry Delaporte became the highest-paid IT sector CEO with $20.11 million in compensation for FY24, including a $11 million separation payment upon resignation.
"Gratitude to all those who voted in 5th phase": PM Modi, says, 'INDI alliance discredited, dejected'
Prime Minister Narendra Modi expressed gratitude to voters in the 5th phase of the 2024 elections, stating that the support for the National Democratic Alliance (NDA) is strengthening. He asserted that the people of India have chosen a strong NDA government. Modi also criticized the INDI Alliance, calling them "discredited and dejected." The fifth phase of polling witnessed a voter turnout of 60.09% across various states and Union Territories. The 2024 Lok Sabha elections are being held in seven phases, with results expected on June 4.
India can become third largest economy by '27-28: Arvind Panagariya
"The growth in nominal dollar terms had been at about 10.2% during this period (2004-2024) and mind you that during this period we had to deal with the global financial crisis and then with Covid," Panagariya said, in his address at CII annual business summit.
India could become 3rd largest economy by 2027-28, extreme poverty in rural areas largely conquered: Arvind Panagariya
Arvind Panagariya, Chairman of the 16th Finance Commission, predicts that India could become the world's third-largest economy by 2027-28 if it sustains its growth trajectory of the past two decades. He notes that extreme poverty, which currently affects less than 3% of the population, has significantly declined, especially in rural areas. Panagariya emphasizes the need to address under-employment in agriculture by transitioning workers to the industrial and services sectors for faster urbanization.
8th Pay Commission latest update: Govt gets a proposal on formation of next CPC; what central govt employees must know
8th Pay Commission latest update: In an Office Memorandum, the Ministry of Personnel, Public Grievances, and Pensions said, "The undersigned is directed to forward a copy of letter No. IRTSA/Memo-7 dated 26.02.2024 received from Shri R.V. Ramesh, General Secretary, Indian Railways Technical Supervisors’ Association on the subject mentioned above to the Department of Expenditure for further necessary action." Here's what the central government employees must know
Baron hikes Pine Labs valuation to $5.8 billion, Invesco marks it up to $4.8 billion
Baron Funds and Invesco revised Pine Labs' valuation to $5.8 billion and $4.8 billion respectively. Fidelity later marked it down to $3 billion. Pine Labs, founded in 1998, offers various digital payment solutions and competes with industry players like Paytm and Mswipe.
DA hiked to 50%: Now HRA of central govt employees to go up as per 7th CPC; how much will HRA increase, when will you get it?
HRA hike for central govt employees: After DA hiked to 50%, several other allowances including HRA of the central government employees, will also be increased. The 7th Pay Commission recommended that the rates of HRA be revised to 30%, 20%, and 10% of basic pay in X, Y, and Z cities, respectively, when DA reaches 50%. Will the central government release a separate order mentioning the hike in HRA as DA reaches 50% now? How much will the hike be in HRA now? When can central government employees expect the increased HRA? Know here
DA hiked; 6 other allowances revised for central govt employees as per 7th Pay Commission
The Department of Personnel & Training has released instructions on a range of allowances that are available to employees of the Central Government, according to the Office Memorandum (OM) dated April 2, 2024. According to the OM dated April 2, 2024, the main points of these instructions on Children's Education Allowance, Risk Allowance, Night Duty Allowance (NDA), Over Time Allowance (OTA), Special Allowance Payable to Parliament Assistants, and Special Allowance for Child Care for Women with Disabilities have been condensed into the following paragraphs for your convenience and clarity.
DA hiked to 50%: 6 other allowances revised for central govt employees, as per 7th Pay Commission
DA hiked by 4%: The 7th Pay Commission reviewed all benefits offered to Central Government employees, including those for railway employees, civilian defence workers, and defence troops, in response to its evaluation and recommendations from 2016. The key guidelines for these six allowances for employees of the central government have been issued.
Dearness relief (DR) hiked by 4% to 50% for central govt pensioners: Who are eligible, when will they get it? Govt answers
Central govt pensioners, family pensioners: The Department of Pension & Pensioners’ Welfare (DoPPW) released an Office Memorandum mentioning which pensioners and family pensioners will be eligible for the recent dearness relief (DR) hike and how the payment of DR will be calculated. It will instructed the pension disbursing banks to arrange payments of dearness relief to pensioners or family pensioners without waiting for any further instruction from other authorities. Read here
DA, DR hiked to 50%: Will DA, DR automatically merge into basic pay of central govt employees, pensioners now?
DA hike latest news: In a welcome move for central government employees and pensioners, the dearness allowance (DA) and dearness relief (DR) have been increased by 4% to 50%. This decision, effective from January 1, 2024, benefits around 49.18 lakh central government employees and 67.95 lakh central government pensioners. Will DA and DR merge into basic pay for central govt employees, pensioners now? Will the salaries of the central government employees increase now? All the central government employees must know about the recent DA, DR hike.
DA hiked to 50%, HRA, other components to rise: How much will salary increase for central government employees, pensioners?
What happens when DA reaches 50%? The central government has recently increased dearness allowance by 4%. With this, DA will be hiked to 50% from 46% from the central government employees. Similarly, DR will be increase by 4% to 50% for the central government pensioners. As DA hits 50%, certain other allowances and components will also go up. So, overall take-home salary of the central government employees will increase significantly. How much will salary increase for central government employees, pensioners? Find out here
Central govt employees, pensioners: Rates of CGHS packages revised; full list of CGHS treatments, new rates, eligibility
Central govt employees, pensioners: The rates of the Central Government Health Scheme (CGHS) for general surgery have been revised. What are new charges of CGHS facilities? Where will the new CGHS rates will be applicable? All central govt employees and central govt pensioners must know.
Mega salary hike for central govt employees as DA to touch 50%: HRA, gratuity, other components will also go up
If DA hits 50%, certain other allowances and components of the salary — house rent allowance, children's education allowance, gratuity ceiling, daily allowance — will also go up, according to the recommendations of the 7th Central Pay Commission. It will lead to a significant jump in the salaries of the central government employees. How will the central government employees be benefitted if DA touches 50%? Will DA merge with basic pay when it crosses the 50% threshold? Find out here
OPS vs NPS: Demand to restore OPS in place of NPS for central government employees; know what Govt says
OPS vs NPS: In a memorandum dated January 11, 2024, the Joint Forum for Restoration of Old Pension Scheme(NJCA), constituted under the banner of the NJCA, demanded that the finance ministry should restore the defined non-contributory and guaranteed Old Pension Scheme in place of contributory National Pension System for central government employees. The department of expenditure of finance ministry responded to the memorandum. Here's what it says
LTC rule changed for Central Govt employees: All you need to know about the new rules to claim LTC
7th Pay Commission rules for Central Govt employees: In an Office Memorandum dated December 21, 2023, DoPT has relaxed rules of Leave Travel Concession (LTC). What are the new rules? What has changed? Here are the new instructions the Central Govt employees must know
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