Wednesday, January 25, 2017

HAPPY REPUBLIC DAY

Date : 25.1.2017

REPUBLIC DAY WISHES TO ALL




Budget 2017 – EC’s Order could bring Cheer to Central Govt Employees

Date : 25.1.2017

Budget 2017 – EC’s Order could bring Cheer to Central Govt Employees.

Budget 2017 will be keenly watched by millions of CG employees, after waiting patiently for months over hike in allowances as recommended by the 7th  Pay Commission.
A new development on Monday could still raise hopes for about 47 lakh Central government employees and 53 lakh pensioners, of which 14 lakh employees and 18 lakh pensioners are from the defence forces, despite the model code of conduct.
The Election Commission of India (EC) said in its order issued on Monday that the budget cannot have promises that are aimed at the five states that could give an electoral edge.
“The Commission hereby directs that in the interest of free and fair elections and in order to maintain level playing field during elections, no State specific schemes shall be announced in the National Budget which may have the effect of influencing the electors of the five poll going States in favour of the ruling party(ies),” the EC said.
It may be ensured that in the Budget Speech, the Government’s achievements in respect of said five States will also not be highlighted in any manner,” the poll panel added.
In other words, the present government could take a call on raising allowances as proposed by the 7th CPC since the decision would have a pan-India effect and not necessarily be seen as luring voters of the five states. So, the model code of conduct need not come as a hurdle.
Money has not been seen as a constraint given that the tax collections have remained buoyant this year and the government also made adequate provisions (Rs. 70,000 crore) for implementing the 7th CPC proposals in Budget 2016.
The Government announced that the second income disclosure scheme (IDS II) will run till March 31. We continue to estimate that it will net the fisc about Rs1000bn/0.7% of GDP of additional taxes. This should allow Finance Minister Jaitley to hold the FY18 fiscal deficit at 3.5% of GDP – same as FY17’s – and at the same time fund the 7th Pay Commission and recapitalize PSU banks, without cutting back on public capex,” BofA Merrill Lynch had said in a note a few weeks ago.
Source: IBtimes

GDS Online Software implementation - reg.

Date : 25.1.2017

GDS Online Software implementation - reg.



FNPO NAPE Gr-C & NUGDS HEARTFUL THANKS TO Sri.V.S.N.MURTHY Rtd.SSPOs, AMALAPURAM DIVISION

Date : 25.1.2017

FNPO NAPE Gr-C & NUGDS HEARTFUL THANKS TO Sri.V.S.N.MURTHY Rtd.SSPOs, AMALAPURAM DIVISION





Cabinet clears pension scheme for seniors with 8% return

New Delhi, Jan 24:  

Cabinet today approved a pension scheme for senior citizens under which insurance behemoth LIC will provide a guaranteed return of 8 per cent for 10 years, as part of government’s social security and financial inclusion programme.
The Union Cabinet chaired by Prime Minister Narendra Modi gave its post-facto approval for launching of Varishtha Pension Bima Yojana 2017 (VPBY 2017), an official statement said.
“The scheme will provide an assured pension based on a guaranteed rate of return of 8 per cent per annum for ten years, with an option to opt for pension on a monthly/ quarterly/half yearly and annual basis,” it said.
The scheme will be implemented through Life Insurance Corporation of India (LIC) in the current financial year to provide social security during old age and protect elderly persons aged 60 years and above against a future fall in their interest income due to uncertain market conditions.
The differential return — the difference between the return generated by state-owned LIC and the assured return of 8 per cent per annum would be borne by the government as subsidy on an annual basis.
VPBY-2017 is proposed to be open for subscription for a period of one year from the date of launch, the statement said.
The pension scheme, the release said is a part of government’s commitment for financial inclusion and social security. 
source :The Hindu Business line