- Mahindra & Mahindra stock hits 52-week high as brokerages bullish on counter post Scorpio-N launch; check target prices
- GST Council meet begins today: Know agendas of Finance Minister Nirmala Sitharaman's led two-day meeting
- Security deposit on commercial LPG connection goes up by Rs 1050 for 19-kg cylinder; check new rates
- Cash-starved Sri Lanka to end fuel duopoly to ease fuel shortages
- Xiaomi 12S series set to launch with Leica cameras on July 4: Check key details here
7th Pay Commission: Decision on higher HRA allowance likely as Cabinet meets today
Prime Minister Narendra Modi has returned from his foreign visit last night and today he will be meeting his Cabinet members today to take final decision on revised salary as per 7th Pay Commission
After an year of wait nearly 50 lakh central government employees who are waiting for higher allowance under 7th Pay Commission are likely to hear some good news.
Prime Minister Narendra Modi has returned from his foreign visit last night and today he will be meeting his Cabinet members today to take final decision on revised salary as per 7th Pay Commission, media reports suggests.
According to a report by IndiaToday, Finance Minister Arun Jaitley will place the recommendation report before the Cabinet today. Apart from higher allowance, the issues like House Rent Allowance (HRA), Dearness Allowance (DA) and arrears will also be discussed.
Earlier there were reports which mentioned that the rollout of Goods and Service Tax (GST) which is scheduled to be launched on July 1, may further delay the 7th Pay Commission discussion.
The 7th Pay Commission had recommended HRA too be fixed at 24%, 16% and 8% depending on the cities employees work in. But, central government employees demanded 30%, 24% and 16% HRA.
Looking at the high protest by the employees, FM Jaitley last year formed a committee under the leadership of Finance Secretary Ashok Lavasa to look into matter. After several months, Lavasa panel submitted its recommendation report in April suggesting HRA to be fixed at between 25% and 27%.
Under the 7th Pay Commission, nearly 200 allowances have been subsumed into a smaller batch.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.