Indian Economy

Maya To Implement Sixth Pay Commission Report

Apparently spurred by the prospect of the looming Lok Sabha elections, Ms Maya To Implement Sixth Pay Commission ReportMayawati, Chief Minister Uttar Pradesh, announced that Uttar Pradesh had decided to implement the Pay Commission recommendations, “despite a huge financial burden that would have to be born as a result by Uttar Pradesh.”

By this announcement, she presented the Central Government both bouquets and brickbats over implementing the Sixth Pay Commission (SPC).

Indian companies to invest $40 billion in 2008/09 - RBI

Bonanza For 50 Lakh Govt Employees

On the eve of country’s 61st Independence Day, the UPA government under the Bonanza For 50 Lakh Govt Employeesleadership of Prime Minister Manmohan Singh sanctioned a wage hike higher than the recommendations of Sixth Pay Commission for the country’s civil and defence staff.

After the meeting of the Union Cabinet chaired by the Prime Minister made the announcement that there would be an average increase of 21 per cent in salaries of over 50 lakh government employees with effect from January 1, 2006.

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India may lose up to 17 percent of its farming income due to climate change: Study

Indian FarmerWashington, Aug. 16 : India could lose between seven and seventeen percent of its income from farming because of climate change, a new study has claimed.

Using data on weather and the economic success of farming to model the effect of future warming on the predicted income from farming, Robert Mendelsohn of the Yale School of Forestry and Environmental Studies and Apurva Sanghi of the World Bank said that the focus of their study was on the biological relationship between weather and crop yield instead of the economic connection between weather and farming revenue.

21% Increase for Central Employees

Industry associations stated that the acceptance of proposals of the 6th Pay Commission would help in pulling as well as retaining the best talent in the government’s administrative machinery.

Moreover, it would lessen the degree of weariness in public sector departments and make government more reactive towards the public. At the same time, industry chambers fear that the move would worsen fiscal pressures.

The Union Cabinet on Aug 14 accepted the suggestions of the Sixth Central Pay Commission with some changes hinted by the Secretaries board.

With this, the pay of around 50 lakh government staff will climb up by at least 21%.

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