• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Home
  • DOPT ORDERS 2020
  • FinMin Orders 2020
  • Railway Orders 2020
  • Contact Us

7th Pay Commission Latest news

Central Government Employees News

  • DOPPW Orders
  • 7th Pay Commission
  • Dearness Allowance
  • Dearness Relief
  • CSD Price List
  • Defence
    • Defence Pension
You are here: Home / 7th Pay Commission / Financial impact due to 7th Pay Commission – Rajya Sabha

Trending
FINMIN Order : Dearness Allowance to Central Government employees from Jan 2022 “hot”
AICPIN for the month of March 2022 “hot”
GPF Interest Rate from April 2022 to June 2022 “hot”
Small Savings Schemes Interest Rate from April 2022 to June 2022 “hot”

Financial impact due to 7th Pay Commission – Rajya Sabha

May 5, 2016 pcadmin Leave a Comment

IMPORTANT QUESTION & ANSWER – Financial impact due to 7th Pay Commission: Details of Rajya Sabha QUESTION & ANSWER

 GOVERNMENT OF INDIA

MINISTRY OF FINANCE

RAJYA SABHA

QUESTION NO 241

ANSWERED ON  26.04.2016

Requirement of growth in economy for sustaining the burden of wage increase

2016-17 (Without 7th  Central Pay Commission) 2016-17 (With 7th Central Pay Commission) Financial impact
(Figures in rupees crore)
Pay 244300 283400 39100
Allowances
HRA 12400 29600 17200
Transport Allowance 9900 9900 0
Other Allowance 24300 36400 12100
Pension 142600 176300 33700
Total 433500 535600 102100

 

241 Shri A. K. Selvaraj

Will the Minister of FINANCE be pleased to state :-

(a) whether it is a fact that India needs to grow by an additional 1-1.5 percentage points so that it can sustain the burden of wage increases and pass on more benefits to workers;

(b) if so, the details thereof;

(c) whether it is also a fact that there would be a burden of Rs. 1.02 lakh crore on account of implementation of the Seventh Pay Commission; and

(d) if so, the details thereof?

ANSWER

MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI JAYANT SINHA)

(a) and (b): The Gross Value Added (GVA) at basic prices is the sum of compensation of employees including social contributions made by the employer (CE), operating Surplus and mixed income of the self-employed(OS/MI), consumption of fixed capital (CFC) and taxes net of subsidies on production. The share of compensation of employees stood at 33.6 per cent in the year 2014-15 (the latest year for which information is available), increasing from 32.9 per cent in 2012-13. Simultaneously, the growth rate of GVA at constant basic prices increased from 5.4 per cent in 2012-13 to 7.1 per cent in 2014-15.

Among the broad sectors, public administration & defence had the highest share of compensation of employees, i.e., 85.0 per cent of the GVA at basic prices, in 2014-15. Higher wages/compensation of employees may have an impact on private final consumption and hence on GDP growth. At the same time, higher wages in public administration & defence may place added demand on the budgetary resources of the Government. On account of this possible two-way relationship, it is difficult to exactly calculate the GDP growth required to sustain the higher wage bill.

(c) and (d): The Seventh Pay Commission, in its Report, has projected an additional financial implication on implementation of its recommendations, of Rs. 1,02,100 crore, which is about 0.7 per cent of the GDP at current market prices of Rs. 1,50,65,010 crore projected in the Budget 2016-17. The details are given below:

 

2016-17 (Without 7th  Central Pay Commission) 2016-17 (With 7th Central Pay Commission) Financial impact
(Figures in rupees crore)
Pay 244300 283400 39100
Allowances
HRA 12400 29600 17200
Transport Allowance 9900 9900 0
Other Allowance 24300 36400 12100
Pension 142600 176300 33700
Total 433500 535600 102100

 

Source : RajyaSabha.nic.in

Filed Under: 7th Pay Commission, 7th Pay Commission News

Also Read

AICPIN for the month of March 2022

AICPIN for the month of March 2022

April 29, 2022 By pcadmin Leave a Comment

AICPIN for the month of March 2022 GOVERNMENT OF INDIAMINISTRY OF LABOUR & EMPLOYMENTLABOUR BUREAU `CLEREMONT', SHIMLA-171004DATED: 29 April, 2022 F.No. 5/1/2021-CPI Press Release AICPIN for March 2022 Consumer Price Index for Industrial Workers (2016=100) — March, 2022 The … [Read More...] about AICPIN for the month of March 2022

Disbursement of Railway Pension through Private Sector Banks

Disbursement of Railway Pension through Private Sector Banks: Railway Board

May 13, 2022 By pcadmin Leave a Comment

Disbursement of Railway Pension through Private Sector Banks: Railway Board Government of India (भारत सरकार)Ministry of Railways (रेल मंत्रालय)Railway Board (रेलवे बोर्ड) RBA No. 29/2022 No. 2018/AC-II/21/2/ARPAN New Delhi, dated 12.05.2022 Pr.Financial Advisors,All Zonal Railways … [Read More...] about Disbursement of Railway Pension through Private Sector Banks: Railway Board

CGEGIS 1980 - Table of Benefits from April to June 2022

CGEGIS 1980 – Table of Benefits from April to June 2022

May 12, 2022 By pcadmin Leave a Comment

Central Government Employees Group Insurance Scheme-1980 - Tables of Benefits for the savings fund for the period from 01.04.2022 to 30.06.2022. No. 7(2)/EV/2016Government of IndiaMinistry of FinanceDepartment of Expenditure E-V Branch New Delhi, the 10 May, 2022 OFFICE MEMORANDUM Sub: … [Read More...] about CGEGIS 1980 – Table of Benefits from April to June 2022

Confirmation of inadequacy of representation of SC and ST in consonance - DOPT

Confirmation of inadequacy of representation of SC and ST in consonance – DOPT

May 10, 2022 By pcadmin Leave a Comment

Confirmation of inadequacy of representation of SC and ST in consonance - DOPT F. No. 25/1 1/2022-CS.II(B)Government of IndiaMinistry of Personnel, Public Grievances & PensionsDepartment of Personnel and TrainingCS.II(B) Section 3rd Floor, Lok Nayak Bhawan,Khan Market, New … [Read More...] about Confirmation of inadequacy of representation of SC and ST in consonance – DOPT

Status of Cadre Review as on 5th May, 2022

Status of Cadre Review as on 5th May, 2022

May 9, 2022 By pcadmin Leave a Comment

Status of Cadre Review proposals processed in DoPT as on 5th May, 2022 A. Approved by Cabinet – 24 B. Status of Proposals under consideration – 23 (1) Meeting of Cadre Review Committee held – 10(2) Pending for consideration of CRC – 3(3) Pending with Department of Expenditure – 3(4) Pending … [Read More...] about Status of Cadre Review as on 5th May, 2022

Scrap NPS and restore CCS (Pension) rules, 1972 or Guarantee Minimum Pension : BPMS

Scrap NPS and restore CCS (Pension) rules, 1972 or Guarantee Minimum Pension : BPMS

May 9, 2022 By pcadmin Leave a Comment

Scrap NPS and restore CCS (Pension) rules, 1972 or Guarantee Minimum Pension : BPMS भारतीय प्रतिरक्षा मजदूर संघBharatiya Pratiraksha Mazdoor Sangh (AN ALL INDIA FEDERATION OF DEFENCE WORKERS)(AN INDUSTRIAL UNIT OF B.M.S.)(RECOGNISED BY MINISTRY OF DEFENCE, GOVT. OF INDIA) REF: BPMS/ PMO/ … [Read More...] about Scrap NPS and restore CCS (Pension) rules, 1972 or Guarantee Minimum Pension : BPMS

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

All About Pension

All about Pension

Latest DOPT Orders

Confirmation of inadequacy of representation of SC and ST in consonance – DOPT

Status of Cadre Review as on 5th May, 2022

Percentage of Salary Budget allocated for training and capacity building – DOPT

Reservation in promotions – procedure to be followed : DOPT

Holiday on 14th April 2022 – Birthday of Dr. B. R. Ambedkar

Latest Finmin Orders

CGEGIS 1980 – Table of Benefits from April to June 2022

FINMIN Order : Dearness Allowance to Central Government employees  from Jan 2022

Modification of instructions regarding Air Travel on Government account. – FINMIN

CGEGIS Table of Benefits from Jan 2022 to March 2022

Concessions to person re-employed in Central Government Service – Payment of Travelling Allowance

Latest Railway Orders

Grant of Leave to Probationary officers: Railway Board

Productivity Linked Bonus to all eligible non-gazetted Railway employees for 2020-2021

Cabinet approves Productivity Linked Bonus to Railway Employees for the year 2020-21

Change of Base Year of Consumer Price Index of Industrial Workers – Railway Order

Advance payment of salary on account of Onam festival.

Categories

Copyright © 2022