Recommended Date of implementation: 01.01.2016 Minimum Pay: Based on the Aykroyd formula, the minimum pay in government is recommended to be set at ₹18,000 per month. Maximum Pay: ₹2,25,000 per month for Apex Scale and ₹2,50,000 per month for Cabinet Secretary and others presently at the same pay level. Financial Implications: The total financial impact…
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given approval for the proposal to provide a two year extension with amendments to the ‘Framework on Currency Swap Arrangement for SAARC Member Countries’ upto November 14, 2017, and extension thereafter, if necessary, by Finance Minister. Under the facility, RBI offers swaps of…
The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved the disinvestment of 10 percent paid up equity capital of Coal India Limited. This implies divesting of 63,16,36,440 shares of Face Value of Rs. 10 each out of the Government of India shareholding of 78.65 percent (after adjusting one…
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for the ratification and submitting of the Articles of Agreement (AoA) of the Asian Infrastructure Investment Bank (AIIB) Establishment of the AIIB will help India and other signatory countries to raise and avail resources for their infrastructure and sustainable development…
Sustained surpluses of production over domestic consumption in the last five years has led to subdued sugar prices, which has stressed the liquidity position of the industry leading to a build up of cane price arrears. During sugar season 2014-15, the peak cane price arrears were Rs.21,000 crore as on 15/4/2015. The Central Government has,…
The Central Government has notified the Schedule of revised All Industry Rates of Duty Drawback effective from 23rd November, 2015. These revised rates are based on average incidence of Customs and Central Excise Duties and Service Tax related with the manufacture of export goods and involve substantial total drawback for exporters. Apart from the rate…
Today, India is the fastest growing economy among major Nations. The World Bank has improved India’s ranking by 12 places in the 2016 Study of Ease of Doing Business. FDI has gone up by 40%. Several Global Institutions have projected India as the leading destination for FDI in the World. IMF has branded India as…
The Asian Development Bank (ADB) and the Government of India signed here a $273 million loan agreement to continue improving rural roads in the States of Assam, Chhattisgarh, Madhya Pradesh, Odisha and West Bengal. The loan represents the third tranche, which is also the last tranche of the $800 million financing facility under the…
The Government today issued the notification regarding implementation of ‘One Rank One Pension’ in respect of Defence Forces personnel. Defence Forces of India have a rich history and tradition of bravery and gallantry. Defence forces have not only defend our borders with exemplary courage and valour but have also performed with fearless attitude and empathy…
The Union Cabinet chaired by the Hon’ble Prime Minister Shri Narendra Modi, has today given its approval to a new scheme moved by the Ministry of Power – Ujwal DISCOM Assurance Yojna or UDAY. UDAY provides for the financial turnaround and revival of Power Distribution companies (DISCOMs), and importantly also ensures a sustainable permanent solution…