In fiscal 2017 is expected to put pressure on financial resources.Seventh Pay Commission recommendations, the government may refrain from applying the moment. Last week, an Empowered Committee of Secretaries of the Cabinet had approved the formation, which will explore such measures, which are to be implemented in phases Pay Commission's recommendations on the government in the same year received 102 100 crore of additional Ik_ ï burdened.
A top government official said the Empowered Committee of Secretaries will have a choice that deferring the increase in the central staff allowances and salaries for all pay increases and give the green signal. According to data from the Ministry of Finance in the salaries and allowances in the ratio 1: 1.4. For example, in fiscal year 2016. The budget for the central staff salaries item was estimated to be Rs 60 731 crore while the allowance was estimated at Rs 84437.4 crore.
The move Jaitley current fiscal deficit of 3.9 percent of GDP and 3.5 per cent in the next financial year will help to achieve the goal of keeping. Assume that the annual expenditure, about 18 lakh crore in fiscal 2017 (fiscal 2016 to Rs 1,777,477 crore at par) is placed, then the Pay Commission's recommendations, it will be 5.5 per cent. The sluggish GDP growth and 50 per cent of the budget estimates in the first 8 months of the collection is under pressure from the government and also in the next financial year is not expected to change much.
The possibility that the minister in his budget speech on February 29 Pay Commission can announce avoid.Empowered Committee on Pay Commission's objective is to exercise the consent of all stakeholders. The official said that various ministries before the budget meeting with the Ministry of Finance, Department of Expenditure is almost complete. So, it was estimated that the Pay Commission recommendations will be implemented. But now the chief secretaries of the department was necessary to bring together as wide need to cut those estimates.
source:http://hindi.business-standard.com/
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