Leads the business and technology team at Zeenews.com. His expertise lies in commodities, agriculture, markets, personal finance and socio-political economy of India.
The Union Cabinet on Thursday passed a resolution expressing gratitude to Chief Ministers of States and others for their cooperation in introduction of GST.
The Narendra Modi Cabinet is likely to put an end to year-long wait of central government employees for allowances, including HRA (House Rent Allowance) by taking final call on the proposal in its next meeting on June 28.
The Narendra Modi Cabinet is likely to put an end to year-long wait of central government employees for allowances including HRA by taking final call on the proposal in its next meeting next week.
The Union Cabinet on Wednesday approved the interest subvention scheme (ISS) for the year 2017-18 which will help farmers getting short term crop loan up to Rs 3 lakh payable within one year at only 4 percent per annum.
The Bill would provide for a comprehensive resolution framework for specified financial sector entities to deal with bankruptcy situation in banks, insurance companies and financial sector entities.
If the government retains the exiting HRA rates (as per 6th Pay Commission) then the HRA component of central government employees will increase ranging between 157 percent and 178 percent.
India's industrial production grew by 3.1 percent in April due to good performance of electricity, mining and manufacturing sectors, as per data released by Central Statistics Office (CSO).
As far as House Rent Allowance (HRA) is concerned, the central government employees may suffer a monthly loss of up to Rs 15,000, if the government accepts the bare recommendations of AK Mathur panel on allowances.
Our aim is that India must be an engine of growth as well as an example in climate friendly development in the years to come, Prime Minister Narendra Modi said on Tuesday.
The Empowered Committee of Secretaries (E-CoS) set up to screen the 7th Central Pay Commission (CPC) recommendations on allowances will place the proposal before the Cabinet on this Wednesday.
Know the changes in the recommendations of the Seventh Central Pay Commission in respect of both defence and civil pay matrix and Index of Rationalisation (IOR).
The GST Council finalised four tax rates of 5, 12, 18 and 28 percent to apply on services including telecom, insurance, hotels and restaurants under the biggest tax reform since the Independence.
Only 19 percent of goods will be taxed above 18 percent while 81 percent of items will fall under below 18 percent GST rate slabs.
The minimum pension with effect from January 2016 will be Rs 9,000/-per month (excluding the element of additional pension to old pensioners) while the upper ceiling on pension/family pension will be 50% and 30% respectively of the highest pay in the government (the highest pay in the government is Rs 2,50,000 with effect from January 2016).
Around 4.5 lakh Bihar government's employees and 3.5 lakh pensioners are likely to get 14 percent hike in salaries after implementation of Bihar state Pay Commission report.
The central government employees are likely to get maximum monthly hike in house rent allowance (HRA) by up to Rs 48,000 from June.
The Empowered Committee of Secretaries (E-CoS) set up to screen the 7th Central Pay Commission (CPC) recommendations on allowances is likely to firm up the proposal in next 15 days for approval of the Cabinet.
Must read the full statement of Finance Ministry dated May 04 - a day after the Union Cabinet approved modifications relating to modifications in the 7th CPC (Central Pay Commission) recommendations on pension revision formula, pay structure and pay matrices of central government employees and pensioners including armed forces.
The government has agreed in-principle to address three major grievances of the armed forces relating to their salary structure including providing pay protection to those getting promotion from the rank of brigadiers.
The modified formulation will be beneficial to more pensioners than the first formulation recommended by the 7th CPC, which was not found to be feasible to implement on account of non-availability of records in a large number of cases and was also found to be prone to several anomalies.
If the government accepts the bare recommendations of A K Mathur-led 7th Pay Commission then the HRA component of central government employees will increase ranging between 106 percent and 122 percent.
The committee on allowances has reportedly given its view in favour of AK Mathur-led 7th Pay Commission recommendation, regarding decrease in house rent allowance (HRA) by 2-6 percent depending on type of cities.
The 10-month long wait of central government employees and pensioners for allowances is about to end as the Narendra Modi government is expected to announce a maximum HRA hike of up to 178 percent for them soon.
Prime Minister Narendra Modi on Thursday flagged off the first UDAN flight under Regional Connectivity Scheme (RCS) on Shimla-Delhi route.
The committee on allowances headed by Finance Secretary Ashok Lavasa is likely to recommend a maximum hike of 178 percent in house rent allowance by retaining HRA rate for Class X, Y and Z cities and towns at 30 percent, 20 percent and 10 percent of basic pay respectively.