Prime Minister Dr. Manmohan Singh held a meeting with defence minister A.K. Antony and finance minister P. Chidambaram on Wednesday, regarding the pay commission recommendations for Central government employees, armed forces employees as well as paramilitary staff.
A senior Union minister stated that Cabinet is ready to sanction the Sixth Pay Commission recommendations today.
Prime Minister Dr. Manmohan Singh will declare the award during his Independence Day speech on Friday, August 15.
Around 5.4 million government workers will get their pay increases and the administration will have to distribute an additional Rs 20,000 crore.
New Delhi, Aug 13 : The Prime Minister’s Economic Advisory Council has lowered the GDP growth projection to 7.7 percent during 2008-09 as against 9 percent in last fiscal.
EAC chairman C Rangarajan said that inflation could shoot up to beyond 13 percent. Agricultural and industrial growth rate projection has also been brought down.
New Delhi, Aug 13: Despite fall in the prices of crude oil to below 113 US dollars a barrel this week, Petroleum Minister Murli Deora today ruled out possibility of reducing the prices of fuel.
Deora told reporters here that the softening of crude oil prices was a welcome development, but there was no scope of decrease in domestic fuel prices.
The Minister pointed out that oil marketting companies like Indian Oil, Bharat Petroleum and Hindustan Petroleum continue to lose money on fuel sales and there were still huge under-recoveries on fuel sales.
New Delhi, Aug 13: Prime Minister's Economic Advisory Council (EAC) lowered the GDP growth projection to 7.7 percent during 2008-09 as against an earlier estimate of 8.5 percent.
According to the report, the agriculture sector is predicted to grow by a very low two per cent, worse than the poor 4.5 per cent growth recorded last fiscal.
The services sector will grow 9.6 per cent, predicts the report, compared to 10.8 per cent last fiscal.
The government may announce the new pay package on 15 August for armed forces.
Armed forces had expressed dissatisfaction over the Sixth Pay Commission report and sought the revise of pay structure recommended by commission. The country has a total of 12 lakh personnel of the armed forces.
A meeting to discuss about salaries and perks of armed forces is scheduled on Wednesday. Prime Minister Manmohan Singh will chair the high-level meeting to take final decision on the salary issue. The meeting will also be attended by Defence Minister A.K. Antony, Finance Minister P. Chidambaram and Cabinet Secretary K. Chandrashekhar.
New Delhi, August 7 : For the first time in 13 years inflation crossed 12 per cent, at 12.1 per cent, for the week ended July 26, on the back of costlier food items.
Rise in prices of certain food articles and manufactured products pushed inflation to a 13-year high of 11.98 per cent for the week ended July 19.
The increase prompted economists to predict another 25 basis points increase in the central bank''s short-term lending rates.
New Delhi, Aug 13 : The Prime Minister’s Economic Advisory Council has lowered the GDP growth projection to 7.7 percent during 2008-09 as against 9 percent in last fiscal.
New Delhi, Aug 13: Despite fall in the prices of crude oil to below 113 US dollars a barrel this week, Petroleum Minister Murli Deora today ruled out possibility of reducing the prices of fuel. 
New Delhi, Aug 13: Prime Minister's Economic Advisory Council (EAC) lowered the GDP growth projection to 7.7 percent during 2008-09 as against an earlier estimate of 8.5 percent.
New Delhi, August 7 : For the first time in 13 years inflation crossed 12 per cent, at 12.1 per cent, for the week ended July 26, on the back of costlier food items.
