7th Pay Commission Report to be put up before Cabinet in June

7th Pay Commission report to be put up before Cabinet in June –

 7th CPC implementation Notification to come at the earliest Central government employees can expect to get some good news trickling in from government sources towards the end of June.

As per reports, the Finance Ministry is likely to table the 7th Pay Commission report to the Cabinet for approval in the last week of June.

The 7th pay panel headed by AK Mathur had recommended the minimum salary for central government employees at Rs 18,000 and maximum salary at Rs 2,50,000. As employees protested against the wage hikecalling it the “lowest ever” raise, the government set up the Empowered Committee of Secretaries group to review the AK Mathur-panel’s recommendations.

The Empowered Committee of Secretaries on the Seventh Central Pay Commission is expected to soon wrap up its report on the remuneration of government employees.

Sources added that even the Prime Minister’s Office is keen on a favourable pay hike for the central government employees, so the panel is likely to recommend a minimum salary at Rs 24,000 and the highest salary at Rs 2,70,000.

Sources added that the government is exploring options for meeting the additional payout over and above what was recommended by the 7th pay panel. The payout could be substantial with salary hike and arrears adding up to a Rs 1.02 lakh crore burden on government finances.

Report add that once the report moves from the table of the empowered group of committee to the cabinet, there is no reason why the cabinet would inordinately delay it.

The Finance Ministry is keen that higher salaries reach government employees just before the festive season starting mid-August, as spurt in consumption during the festive period will have a domino effect on the economy.

Souce: Zee News

Media reports : Govt likely to table the 7th pay commission report before Cabinet next month

Media reports : Govt likely to table the 7th pay commission report before Cabinet next month

Central government employees can expect to get some good news trickling in from government sources towards the end of June.

As per reports, the Finance Ministry is likely to table the 7th Pay Commission report to the Cabinet for approval in the last week of June.

The 7th pay panel headed by AK Mathur had recommended the minimum salary for central government employees at Rs 18,000 and maximum salary at Rs 2,50,000. As employees protested against the wage hike calling it the "lowest ever" raise, the government set up the Empowered Committee of Secretaries group to review the AK Mathur-panel's recommendations.

The Empowered Committee of Secretaries on the Seventh Central Pay Commission is expected to soon wrap up its report on the remuneration of government employees.

Sources added that even the Prime Minister's Office is keen on a favourable pay hike for the central government employees, so the panel is likely to recommend a minimum salary at Rs 24,000 and the highest salary at Rs 2,70,000.

Sources added that the government is exploring options for meeting the additional payout over and above what was recommended by the 7th pay panel. The payout could be substantial with salary hike and arrears adding up to a Rs 1.02 lakh crore burden on government finances.

Report add that once the report moves from the table of the empowered group of committee to the cabinet, there is no reason why the cabinet would inordinately delay it.

The Finance Ministry is keen that higher salaries reach government employees just before the festive season starting mid-August, as spurt in consumption during the festive period will have a domino effect on the economy.

Source : Zee News

President conveys his appreciation and admiration for India’s unparalleled postal network.

President conveys his appreciation and admiration for India’s unparalleled postal network.

Shri Pranab Mukherjee, the President of India held a meeting with Shri Ravishankar Prasad, Minister for Communications and IT at the Rashtrapati Bhavan on 20th May 2016, in which the central topic of discussion was the ongoing transformation of the postal network. The President enquired about the modernisation project, and was happy to learn about how the induction of IT was making service delivery at post offices contemporary. He also used the occasion to convey his fondness and admiration for the postal network to the postal staff, through the Minister.

File photo of President Mukherjee with Minister Prasad at a stamp release function in October 2014. Courtesy:www.prokerala.com

Details of this interaction with the President were revealed by Shri Prasad himself, during his keynote address on 22^nd May 2016, at the Conference of the Heads of Postal Circles at Hyderabad.

There have been a few other occasions in the past also when the Department has had the opportunity to benefit from President Mukherjee words of guidance and came in for praise from him. While inaugurating an international postal event at New Delhi’s Vigyan Bhavan in 2013, he had commended the unparalleled network of the Post Office and advised that there is a huge scope for postal services to be engaged in e-commerce, and that it should capitallise on the rising demand for such business products. On that occasion, he had also highlighted the need to move with the times, and said that globalization and easier movement of workforce across nations have opened a great window of opportunity for the postal sector in parcel and money remittance businesses. Further, he had emphasised that worldwide, postal administrations enjoy the trust of people and advised that the Post Office must leverage this and other strengths to provide improved quality of service to the people.

Inauguration of the new building of the Rashtrapati Bhavan PO 

in July 2014. Photo courtesy: Exposeindialive.com

It is no surprise then that hearing from the Minister about developments like the networking of post offices, postal savings coming on a CBS platform and the Post Office preparing to set up a Payments Bank would have been a matter of satisfaction for him. His sending a message a message to the postal staff through the Minister is a rare gesture, which is sure to inspire them to higher standards of service delivery.

The words of appreciation from the President represent the increasing significance of the Postal network in the national mainstream and in public perception. With it also comes a higher responsibility for the management and staff of India Post, the responsibility of living up to the expectations of the country’s First Citizen.

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India Post Payments Bank Will Be Functional By March 17: IT Minister

India Post Payments Bank Will Be Functional By March 17: IT Minister

He said the proposed India Post payments bank will have immense potential to sell third party product and services.

Hyderabad: India Post's payments bank will start functioning from March 2017 and serve as a wider platform to implement financial inclusion programmes, IT & Communications Minister Ravi Shankar Prasad said on Sunday.

"We are going to start the postal payments bank by March 2017. Very soon we will go to the Cabinet and postal payments bank will become operational from March 2017," Prasad told reporters here.

He said the proposed India Post payments bank will have immense potential to sell third party product and services. About 50 companies, including some from abroad, are keen to partner with postal department for the payments bank, like World Bank, Citi from America, Barclay's from England, he said.

Reacting to a query, he said these institutions will offer third party services like insurance products, mutual funds, banking instruments and a variety of financial instruments. Asked on the interest shown by these institutions, the minister said, "...that board will decide, I'm only saying value addition of postal department it is attracting so much global attention." "...they will decide how much to give them. It is a call they will take," he said.

The payments bank of postal department will become a big platform of financial inclusion, Prasad said. "We are going to invest about Rs 800 crore -- Rs 400 crore will be invested by  the department and the remaining amount will be equity part (mobilised as equity)," he said.

"Postal department has the widest network in India. We have 1,54,939 post offices in the country, out of that 25,560 are departmental post offices and 1,29,379 are branch post offices," he said.

"Under (Prime Minister) Narendra Modi, we have decided to re-energise the postal department for India's growth and financial inclusion," he further said. In August 2015, the RBI had given in-principle approval to 11 entities to start payments bank, including the postal department.

The approval is valid for 18 months and all the entities are required to submit a detailed business plan after which they shall be given the final nod.   

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