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Bonanza for central government employees as 7th Pay Panel recommends 23.55% hike

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V.Balasubramani

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Bonanza for central government employees as 7th Pay Panel recommends 23.55% hike

NEW DELHI: Central government employees and pensioners are set for a big bonanza with the Seventh Pay Commission proposing a generous increase in their salary and allowance.

If accepted, the employees and pensioners will be richer by Rs 1.02 lakh crore, providing a big boost to the economy though the government finances will stretch the government's fiscal consolidation drive.

It will benefit 47 lakh serving employees of the government and 52 lakh pensioners.


Read more at:
http://economictimes.indiatimes.com...ofinterest&utm_medium=text&utm_campaign=cppst
 
Really a big bonanza for the Central Govt employees.
I presume that this announcement is made by PM & FM ...out of compulsion to avert the proposed strike by all unions of
Central Govt employees unitedly on 2nd & 3rd of December 2015.
 
This is an unending cycle. Now Government will add more taxes to increase the resources for payment of additional burden. The producers resort to raise the prices of all commodities. Inflation will gallop by leaps and bounds ! Adding zeros to Rupee will not help. Unless the real value of our currency is established in the international currency market we are doomed to suffer by inflation and deficit financing.


Brahmanyan,
Bangalore.
 
The disparities between the organised and unorganised sectors will further increase.

So much of extra money put into the hands of govt sector will probably ignite demand for consumer sectors.

There appears to be no end to the spiral of inflation, higher prices and more salary payments.

Our currency will become worthless in course of time I suppose

Should we wear saffron and head for the hills?{ A wild thought by the way. I am wondering where to go in dec -jan as winter is setting in in delhi.}
 
The disparities between the organised and unorganised sectors will further increase.

So much of extra money put into the hands of govt sector will probably ignite demand for consumer sectors.

There appears to be no end to the spiral of inflation, higher prices and more salary payments.

Our currency will become worthless in course of time I suppose

Should we wear saffron and head for the hills?{ A wild thought by the way. I am wondering where to go in dec -jan as winter is setting in in delhi.}
Some feel it is good for econmy since more money in the hands people wiil help cosumerism So with Bermuda and Bikini head to Goa Beaches!
 
Some feel it is good for econmy since more money in the hands people wiil help cosumerism So with Bermuda and Bikini head to Goa Beaches!
LOL, I like your suggestion. Beaches of Goa can be enchanting.

Only my offspring with his spouse has already booked to go there.Goa would be over crowded with heavy tourist bookings.

I have to choose some other place.

I suppose some other place in konkan coast like alibaug or kishid would be nice.

Consumerism complicates living. People buying larger capacity frig , LED,LCD TVs , ACs with heaters with inbuilt invertors, PCs,laptops, mobiles with latest technology

Is enticing people to spend recklessly .Senior citizens are competing with the young for acquiring what best technology has to offer.Will this lead to recovery of

economy which is in doldrums? Perhaps some urban spending may go up. What happens to rural india? Agricultural lands either under water due to excess rainfall or

dry due to draught, the future looks bleak...
 
Currently the pensioners are having a rollicking time! And their pension also goes up with every Pay commission! Sometimes it is good to be a loyal sarkari servant rather than be a private sector naukar especially during the grey days!
 
The disparities between the organised and unorganised sectors will further increase.

So much of extra money put into the hands of govt sector will probably ignite demand for consumer sectors.

There appears to be no end to the spiral of inflation, higher prices and more salary payments.

Our currency will become worthless in course of time I suppose

Should we wear saffron and head for the hills?{ A wild thought by the way. I am wondering where to go in dec -jan as winter is setting in in delhi.}

Sir,
It is not a wild thought; but an old thought. At present only affluent people wear the saffron.
 
Currently the pensioners are having a rollicking time! And their pension also goes up with every Pay commission! Sometimes it is good to be a loyal sarkari servant rather than be a private sector naukar especially during the grey days!
Public sector employees do not have this privilege. They have contributory provident fund and get a lumpsum on retirement
Also for govt college teachers in central univ -new entrants are ending up privately managed fund managers limiting govt liability.
Only for central govt employees are getting this benefit. A few central govt institutions may also get covered
 
Currently the pensioners are having a rollicking time! And their pension also goes up with every Pay commission! Sometimes it is good to be a loyal sarkari servant rather than be a private sector naukar especially during the grey days!
Yes Sir. Pension gets doubled within 10 years.
 
Yes Sir. Pension gets doubled within 10 years.
It is not totally rosy. I find many waiting for months after retirement for pension orders.

If a central govt employee gets posted to many places , he has a large wait time. He faces further hassles when he changes base after retirement and want a change

of bank branch. Then this live certificate every year in nov to prove one is alive.

I have a minor pension . When some monthly instalment went missing , The bank raised its hand and said I have to go to the central branch which disburses.

The cost by car [petrol money] to go there and fix it is more than the pension instalment.So I prefer to write it off than chase it.lol

they get treated callously by banks which consider it a burden to service this account
 
It is not totally rosy. I find many waiting for months after retirement for pension orders.

If a central govt employee gets posted to many places , he has a large wait time. He faces further hassles when he changes base after retirement and want a change

of bank branch. Then this live certificate every year in nov to prove one is alive.

I have a minor pension . When some monthly instalment went missing , The bank raised its hand and said I have to go to the central branch which disburses.

The cost by car [petrol money] to go there and fix it is more than the pension instalment.So I prefer to write it off than chase it.lol

they get treated callously by banks which consider it a burden to service this account
hi

yes...i submitted live certificate in the first week of november.....
 
Pension is a deferred compensation...That's how private sector treats & adds it to salary..But in long term pension is the best
 
Pension is a deferred compensation...That's how private sector treats & adds it to salary..But in long term pension is the best[/QUOTE]

I found many of my family members suffer after retirement due to lack of pension . They had good decent salary during their tenure in Private sector but lack of pension is hurting them now with very high inflation .
 
Pension is a deferred compensation...That's how private sector treats & adds it to salary..But in long term pension is the best[/QUOTE]

I found many of my family members suffer after retirement due to lack of pension . They had good decent salary during their tenure in Private sector but lack of pension is hurting them now with very high inflation .
Those who do not have pension should have financial plan of action to lead the future retired life without much hurdles and difficulties.
Of course everybody knows it but could not not execute the plans because of pressing day to day financial obligations and unforeseen expenditures..... outwit the earlier plans.
 
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