Saturday, 30 April 2016

AICPIN March 2016 – Expected DA July 2016 – 3rd Stage Completed

AICPIN March 2016 – Expected DA July 2016 – 3rd Stage Completed

AICPIN March 2016 expected DA

Press Release of AICPIN for the month of march 2016

No. 5/1/2016- CPI
GOVERNMENT OF INDIA
MINISTRY OF LABOUR & EMPLOYMENT
LABOUR BUREAU
`CLEREMONT’, SHIMLA-171004
DATED: 29th April, 2016
Press Release
Consumer Price Index for Industrial Workers (CPI-IW) – March, 2016

The All-India CPI-IW for March, 2016 increased by 1 point and pegged at 268 (two hundred and sixty eight). On 1-month percentage change, it increased by (+) 0.37 per cent between February, 2016 and March, 2016 when compared with the increase of (+) 0.40 per cent between the same two months a year ago.

The maximum upward pressure to the change in current index came From Food group contributing, (+) 0.37 percentage points to the total change. At item level. Wheat and Wheat Atta, Fish Fresh, Goat Meat, Poultry (Chicken), Milk, Chillies Dry. Chillies Green, Potato, Seasonal Green Vegetables and Fruit items, Tea (Readymade). Sugar, Private Tuition Fee, etc. are responsible for the increase in index. However, this increase was checked by Rice, Arhar Dal. Mustard Oil, Eggs (Hen), Garlic. Onion. Tomato, Supari. Petrol, Flower/Flower Garlands, etc.. putting downward pressure on the index.

The year-on-year inflation measured by monthly CPI-IW stood at 5.51 per cent for March, 2016 as compared to 5.53 per cent for the previous month and 6.28 per cent during the corresponding month of the previous year. Similarly, the Food inflation stood at 6.16 per cent against 6.18 per cent of the previous month and 6.98 per cent during the corresponding month of the previous year.

At centre level, Munger-Jamalpur reported the maximum increase of 10 points followed by Raniganj (9 points) and Ludhiana (7 points). Among others, 5 points increase was observed in 4 centres, 3 points in another 9 centres, 2 points in 9 centres and I point in 14 centres. On the contrary, Mundakkayam recorded a maximum decrease of 6 points followed by Ernakulam and Puducherry (5 points each). Tiruchirapally and Warrangal (4 points each). Among others, 3 points decrease was observed in 2 centres, 2 points in 9 centres and 1 point in another 9 centres. Rest of the 14 centres’ indices remained stationary.

The indices of 33 centres are above All-India Index and other 43 centres indices are below national average. The indices of Bokaro and Varanasi centres remained at par with All-India Index.

The next issue of CPI-IW for the month of April, 2016 will be released on Tuesday, 31st May, 2016.

The same will also be available on the office website www.labourbureaunew.gov. in.

Authority: www.labourbureaunew.gov. in

Status of ACRs/APARs, Vigilance Clearance, Major/Minor penalty certificate…

Status of ACRs/APARs, Vigilance Clearance, Major/Minor penalty certificate…

REMINDER

No. 2/2/2016-CS.II(A)
Government of India
Ministry of Personnel, PG and Pensions
(Department of Personnel & Training)

3rd Floor, LokNayakBhavan,
New Delhi-110003,
Dated the 27th April, 2016.

Office Memorandum

Subject:- Status of ACRs/APARs, Vigilance Clearance, Major/Minor penalty certificate and disclosure certificate in respect of PPS grade of CSSS for preparation of panel of Sr. PPS of CSSS for SLY 2016 – reg.

The undersigned is directed to refer to this Department’s OM of even number dated 16.03.2016 on the subject mentioned above and to circulate herewith the latest position regarding availability of ACRs/APARs, Vigilance Clearance, Major/Minor penalty certificate and disclosure certificate in respect of PPS of CSSS who are likely to be considered for promotion to the grade of Sr. PPS for SLY 2016.

2. The cadre units are requested to check at their end the details of the non-availability of the documents of the officers working in their cadre unit and make available the records to this Division immediately. A copy of the Vigilance Clearance certificate may also be sent to Ms. Gracy Varghese, US, AVD-I, DoP&T, North Block, New Delhi to enable her to furnish consolidated Vigilance Clearance etc.

3. The officers concerned are also requested to take necessary action, in their own interest, in expediting the requisite information urgently. The cadre units are also requested to upload the data (ACRs/APARs etc.) in the web based system at cscms.nic.in before submitting the same to this Department.

4. The list of officers, whose above documents are not available, may be seen/downloaded on/from the website of this Department:

www.http://persmin.nic.in–>
DoP&T–>
OMs & Orders–>
Central Service ->
CSSS –>
ACR-Status of Completion.

(Kameshwar Mishra)
Under Secretary to the Govt. of India
Telefax: 24623157

Download signed copy

MPs Demand for 100 Percent Pay hike

MPs Demand for 100 Percent Pay hike

MPs Demand for 100 Percent Pay hike – A joint committee on salaries and allowances of Members of Parliament (MPs) under BJP MP Yogi Aditya Nath has recommended doubling of MPs salaries and perks.

Ahead of the implementation of the 7th Pay Commission, members of Parliament (MPs) have recommended a hike of 100% for themselves, saying they deserve it for their ‘good conduct’.

A joint committee on salaries and allowances of Members of Parliament (MPs) under BJP MP Yogi Aditya Nath has recommended doubling of MPs salaries and perks.

According to an NDTV report, a parliamentary committee has suggested that the salary of MPs be raised from Rs 50,000 to a lakh a month and the constituency allowance be raised from Rs 45,000 to Rs 90,000. If the committee’s proposal is accepted, the total compensation package for an MP will go up from Rs 1,40,000 to 2,80,000.

Samajwadi Party MP Naresh Agarwal had raised the issue of salary hike and said that MPs deserve pay hike for ‘good conduct’ and that many lawmakers were afraid to speak up on the issue.

If free air and rail travel, free housing and other amenities are considered, each MP will cost the taxpayer more than Rs 4 lakh per month, reported Free Press Journal, quoting statistics maintained by the PRS Legislative Research.

The package also includes increasing money for office expenses from Rs 15,000 to Rs 30,000 per month and secretariat assistance from Rs 30,000 to Rs 60,000 per month.

Once agreed and cleared by the finance ministry, the increase in MPs emoluments can put an additional burden of Rs 250 crore on the exchequer. Last year’s allocation had cost the exchequer Rs. 295.25 crore for Lok Sabha Members and Rs 121.96 crore for Rajya Sabha members.

Incidentally, there is no pay commission to look into MP’s salaries and they themselves are entitled to increase their salaries and perks.

This huge increase looks “obscene” to some Left parties MPs, especially in a country where a person spending over Rs 32 a day in rural areas and Rs 47 in urban areas is not considered poor according to the RBI expert panel.

Source: DNA

One Rank One Pension – Ex-servicemen Take the Fight to Another Level – Ready to fight for their rights in the Supreme Court

One Rank One Pension – Ex-servicemen Take the Fight to Another Level – Ready to fight for their rights in the Supreme Court

One Rank One Pension – Ex-servicemen Take the Fight to Another Level – “Now that we have suspended the agitation, we believe that Parrikar will now keep his promises made to us,” said Col (retd) Anil Kaul.

Protesting ex-servicemen tonight suspended their 320-day-old agitation for complete implementation of One Rank One Pension (OROP) as senior lawyer Ram Jethmalani assured them of leading their legal battle in the apex court.

“The indefinite relay fast has been suspended now as we will be taking the legal recourse. Defence Minister Manohar Parrikar had said that proverbial gun was been held to the head of the government by virtue of our presence at Jantar Mantar.

“Now that we have suspended the agitation, we believe that Parrikar will now keep his promises made to us,” said Col (retd) Anil Kaul, spokesperson of the ex-servicemen movement.

Addressing armed forces veterans staging protest at Jantar Mantar in the national capital, Jethmalani said he would fight their case in the Supreme Court.

“I am 93-year-old and I can die any day but I assure you that it will not happen before I get you justice from the Supreme Court,” Jethmalani said.

Major General (retd) Satbir Singh, leader of the protesting veterans, claimed a case will be filed by Jethmalani on OROP demand in the Supreme Court in next 3-4 days and he will not charge any fee.

He said four more cases have been filed in the armed forces tribunal.

“These cases pertain to rulings for jawans, war widows, arrears since 2006, payments for honorary ranks, rounding off of disability pension, and payments of reservists,” he said.

The veterans protest for one Rank one pension at Jantar Mantar entered its 320th day today.

Defence Minister Manohar Parrikar had in September last year announced implementation of the long delayed OROP for ex-servicemen but the veterans have been continuing with their protest demanding “complete” implementation of the scheme.

Source: India Today

7th Pay Commission – Finmin’s Blink on EPF Gives Confidence to Unions & Employees

7th Pay Commission – Finmin’s Blink on EPF Gives Confidence to Unions & Employees

7th Pay Commission – Finmin’s Blink on EPF Gives Confidence to Unions & Employees – Labour movement of the garment workers of Karnataka state is an eye-opener for all.

The flip-flops by Union government on the revised EPF withdrawal norms may embolden government employees to strike work on July 11 as a means to get higher wages and allowances under 7th Pay Commission.

First, under the public outlash, the government withdrew the budgetary proposal to make 40 percent of the EPF corpus taxable. Now, under the protest of garment factory workers in the Bangluru area, central government again withdrew its February 10 notification which prevented an employee from withdrawing 100 percent of the EPF corpus before the age of 58 years.

In a third flip-flop, the government has decided to reverse its earlier decision of reducing the interest rate on Employees’ Provident Fund deposits for 2015-16 and instead keep it at 8.8 per cent, in line with the stand of the Central Board of Trustees (CBT) of the EPF Organisation (EPFO).

The flip-flops by the Govt on the revised EPF withdrawal norms has emboldened the government employees for nationwide protests against 7th pay commission recommendations.

“The labour movement of the garment workers of Karnataka state is an eye-opener for all the other working class in the entire country,”said PS Prasad, Secretary General, Confederation of Central Government Employees and Workers Karnataka State.
“If the Central Government employees also participate in trade union action against the retrograde recommendations of the 7th Pay Commission similar to the Garment Workers of Karnataka, we too can get similar results and hope for a better wage revision and a decent wage hike”, Prasad was further quoted as saying.

Source: http://www.gconnect.in

Finance Ministry Blinks on PF Decision

Finance Ministry Blinks on PF Decision

Finance Ministry Blinks on PF Decision – The labour ministry had tried to persuade its finance counterpart to give in and the consultations worked, said labour minister Bandaru Dattatreya.

In a third flip-flop, the government has decided to reverse its earlier decision of reducing the interest rate on Employees’ Provident Fund deposits for 2015-16 and instead keep it at 8.8 per cent, in line with the stand of the Central Board of Trustees (CBT) of the EPF Organisation (EPFO).

The labour ministry had tried to persuade its finance counterpart to give in and the consultations worked, said labour minister Bandaru Dattatreya. The CBT had recommended 8.8 per cent in February; on Monday, the minister had informed the Lok Sabha that the finance ministry was approving only 8.7 per cent — a CBT decision has to be ratified  by the latter on this issue. It was probably the first such occasion when the finance ministry had so disagreed.

“The Finance Ministry has agreed and we will be issuing orders for 8.8 per cent interest rate to all employees as early as possible. Ultimately, (following) two rounds of meetings they are fully convinced and we are going ahead with the Central Board of Trustees recommendation,” Mr. Dattatreya said.

He added that the labour ministry will “immediately” notify 8.80 per cent interest rate to EPF subscribers.

Conceding that there was an “understanding gap” on the EPF rate within the government, Union Labour and Employment Minister Bandaru Dattatreya said that there were two reasons behind the Finance Ministry’s push for lowering the EPF rate.

In its reasoning on the interest rate, the finance ministry said EPFO’s earnings for 2015-16 were not enough to pay 8.8 per cent. Till now, it noted, the interest income earned on 90 million inoperative accounts, a total principal amount of Rs 35,500 crore, was being distributed among existing account holders but this would no longer be possible, owing to a recent CBT decision. The labour ministry gave an explanation for why this wasn’t quite so.

Also, said finance ministry sources, the labour ministry had clarified that the earnings in 2014-15 turned out to be more than the estimates, and were used to recommend 8.8 per cent.

As of end-March 2015, the EPFO had earned interest of Rs 2,800 crore on inoperative accounts, on which it had stopped paying interest since 2011.According to an official panel, EPFO would earn Rs 34,844 crore in 2015-16, sufficient to offer an interest rate of 8.95 per cent to the retirement fund body’s 50 million subscribers.

“We were able to explain to the ministry that we never touch that amount and, hence, have a cushion,” explained labour secretary Shankar Agarwal.

Trade unions had protested at the finance ministry’s stand; they marked Friday’s announcement as a victory.

Source: The Hindu

Friday, 29 April 2016

DA Orders for Armed Forces Officers and Personnel Below Officer Rank including NCs(E) – 125% from Jan 2016

DA Orders for Armed Forces Officers and Personnel Below Officer Rank including NCs(E) – 125% from Jan 2016

MoD issued orders for the payment of 6% additional Dearness Allowance to Armed Forces Personnel with effect from Jan 2016. Dearness Allowance payable to Armed Forces Officers and personnel Below officer Rank, including Non-combatants (Enrolled), shall be enhanced from the existing rate of 119% to 125% with effect from 1st January 2016.

Payment of Dearness Allowance to Armed Forces Officers and Personnel Below Officer Rank including NCs(E) – Revised rates effective from 1st January 2016

F.No.1(2)/2004/D(Pay/Services)
Government of India
Ministry of Defence
New Delhi, the 18th April, 2016
To
The Chief of the Army Staff
The Chief of the Air Staff
The Chief of the Naval Staff

Subject: Payment of Dearness Allowance to Armed Forces Officers and Personnel Below Officer Rank including NCs(E) – Revised rates effective from 1st January 2016.

Sir,
I am directed to refer to this Ministry’s Letter No.1(2)/2004/D(Pay/services) dated 6th October 2015, on the subject cited above and to say that the president is pleased to decide that the Dearness Allowance payable to Armed Forces Officers and personnel Below officer Rank, including Non-combatants (Enrolled), shall be enhanced from the existing rate of 119% to 125% with effect from 1st January 2016.

2. The provisions contained in paras 2,4 and 5 of this Ministry’s letter No.1(2)/2004/D (Pay/Services) dated 25th September 2008 shall continue to be applicable while regulating Dearness Allowance under these orders.

3. The additional installment of DA payable under these orders shall be paid in cash to all Armed Forces Officers/PBORs including NCs(E).

4. This letter issues with the concurrence of Finance division of this Ministry vide their Dy.No.132-PA dated 11th April,2016 based on Ministry of Finance (Department of Expenditure) O.M.No.1/1/2016-E-II(B), dated 7th April, 2016.
Yours faithfully,
sd/-
(Prashant Rastogi)
Under Secretary to the Government of India
Click to view the order
Authority: www.mod.nic.in

New Transfer Guidelines Kendriya Vidyalaya Teaching Employees


KVS new revised guidelines for Teaching employees upto PGTs & Non-Teaching employees upto Assistants

New Transfer Guidelines of KVS for Teaching employees upto PGTs & Non-Teaching employees upto Assistants w. e. f. 2016

Kendriya Vidyalaya Sangathan has issued new transfer guidelines for KVS teaching employees and non-teaching employees
Kendriya Vidyalaya Sangathan
F.11029/2016/KVS (HQ)/E-II/TP
26th April, 2016
To,
All the Principals
Kendriya Vidyalayas.

Subject: – Adoption of New Transfer Guidelines of KVS for Teaching employees upto PGTs & Non-Teaching employees upto Assistants w. e. f. 2016 – Regarding.

Madam / Sir,
At the outset, I would like to convey my best wishes for the new academic session 2016-17 and at the same time wish to draw your attention towards an important issue i.e. Transfer Guidelines. Transfer Guidelines of Kendriya Vidyalaya Sangathan effective from 1.4.2011 were in operation with some amendments made from time to time.

With the passage of time, we felt a need to review it. In order to make transfer guidelines more transparent, employee friendly and Information Technology enabled, KVS had invited suggestions and feedback last year from all Teaching and Non-Teaching Employees, Principals, Deputy Commissioners, other officers at Regional Offices, ZIETs and all Service Associations of KVS.

1.As a result, KVS received large number of suggestions. Further, Teachers’ Transfer Policies of the states of Gujarat, Karnataka, West Bengal, Tamilnadu, Delhi, Rajasthan and Haryana were taken into consideration to carve out suitable and appropriate transfer guidelines for the KVS employees.

2. You would appreciate the fact that many meaningful suggestions received from your side and many progressive elements of teachers’ transfer policies of above mentioned states have been incorporated in KVS Transfer Guidelines 2016 to fulfil the demands & aspirations of the KVS employees. I would like to mention here some specific provisions made in new Transfer guidelines.
  • Introduction of Mutual Transfer,
  • Transfer against No Taker vacancy,
  • Prioritization of Widow & Single Parent for getting transfer at a desired place,
  • Transfer of Yoga Teachers with post at choice place,
  • 25 days relaxation in delayed joining at Hard/ Very Hard stations for counting of tenure,
  • Consideration of KVS employee for request transfer after Mid- Session on account of transfer of Spouse,
  • Exemption from displacement transfer to those employees who are having disabled dependent children.
  • More points have been given to Members of JCM at KVS (HQ) & Regional level to avoid their displacement transfers,
  • Points have been awarded for seeking request transfer for those who are recipients of KVS Regional Incentive Awards.
  • A chance has been given to those employees who have been redeployed on surplus ground for coming back to previous station in the event of availability of vacancy within one year at that station.
  • An employee whose transfer orders are issued after 20th June by the KVS for Hard/ Very Hard/ NER stations he/she will be given relaxation of some more days for counting of tenure at Hard / Very Hard/ NER stations as on 30th June.
  • As the tenure for hard stations has been restored back for three years w.e.f 2016 due to administrative exigencies but employees who had been posted earlier with two years tenure at these stations have been exempted from this change.
  • With a view to make whole annual transfer process fully transparent, KVS has made a paradigm shift from old practice of manually filled Transfer Applications. Henceforth, Transfer Applications will be invited through online process and transfer orders will also be generated through computerized process on the basis of online database.
  • Every employee will be able to check his/her Transfer Count and Displacement Count on the KVS website as per the Calendar of Activities for effecting annual transfer.
  • Tentative vacancies will also be displayed on website of KVS (HQ) for the reference of employees.
3. I would assure that KVS is committed to take care of all service matters of its employees and to take all possible welfare measures. Kendriya Vidyalaya Sangathan also expects from every one of us to rise to the occasion and to walk some extra miles to secure the success of this wonderful organization.

4. Content of this letter must be brought to the notice of every staff member of the Kendriya Vidyalaya by providing them with a copy.
With best wishes
(Santosh Kumar Mall)
Commissioner
Download Kendriya Vidyalaya Sangathan Circular F.11029/2016/KVS (HQ)/E-II/TP dated 26.04.2016

Defence Procurement Procedure

Defence Procurement Procedure

The new Defence Procurement Procedure (DPP) 2016 containing the Preamble and 5 Chapters has been put on Ministry of Defence website on 28.03.2016. The new DPP focuses on a boost to the ‘Make in India’ -initiative of the Government of India, through Indigenous design, development and manufacturing of defence equipment, platforms & systems. The ‘Make’ procedure has been simplified to ensure increased participation of the Indian industry. Enhancing the role of MSMEs in defence sector, and cutting down permissible timeframes for various procurement activities, are the other defining features of DPP-2016.
The new category viz. Buy (Indian-IDDM) refers to the procurement of products from an Indian vendors meeting one of the two conditions:
• products that have been indigenously designed, developed and manufactured with a minimum of 40% Indigenous Content (IC) on cost basis of the total contract value; or

• products having 60% IC on cost basis of the total contract value, which may not have been designed and developed indigenously. This category has been accorded the highest priority, to boost the indigenous defence industry.
Ministry of Defence has not received any complaints with regard to implementation of the new DPP-2016.
This information was given by Defence Minister Shri Manohar Parrikar in a written reply to Shri Bhagwanth Khuba and others in Lok Sabha today.

PIB

Facility for Disabled and Senior Citizens on Trains and at Railway Stations

Facility for Disabled and Senior Citizens on Trains and at Railway Stations

Instructions exist for provision of Wheel Chair at stations. This facility is provided, duly escorted by coolies (on payment) as per present practice.

Almost all the Mail/Express trains (except special type of trains like Rajdhani, Shatabdi, Janshatabdi, AC Special, Duronto) including Garib Rath trains have been provided with at least one disabled friendly coach. SLRD (Second Class Cum Luggage Cum Guard Van & Disabled friendly compartment) coaches and Power Cars for Garib Rath trains having provisions for PWD (Persons with Disability) Compartment with air-conditioning are already in service. These coaches have wider entrance doors for wheelchair access. Besides, following features are also provided:
i) Wider entrance doors of 920 mm width against 782 mm in conventional body side doors.
ii) Handrails on side walls for providing assistance to the disabled.
iii) Wider aisle of 1050 mm instead of usual 570 mm (the seats alongside the sidewall have been removed).
iv) Wider cushioned Berths – 707 mm instead of 607 mm in conventional coaches.
v) To accommodate wheel chairs, space between berths increased to 1201 mm against usual 542 mm.
vi) Larger Lavatory: 1947 mm square instead of 1540 mm x1189 mm.
vii) Wider lavatory door provided: 840 mm instead of usual 520 mm.
viii) Additional grab rails provided in the lavatory.
ix) Lower height of wash basin and mirror in the toilet.
Zonal Railways have been authorised to introduce ‘Battery Operated Vehicles’ at major Railway Stations for Disabled, Old Aged and sick Passengers on first come first served basis through sponsorship from individuals, NGOs, trusts, Charitable institutions, Corporates and PSUs/Corporate Houses under their Corporate Social Responsibility with no charge to passenger or to the Railway.

Provision/augmentation of amenities at stations, including those for differently abled passengers is a continuous process. In order to provide better accessibility to differently abled passengers, short term facilities as detailed below have been planned at all stations:
· Standard ramp for barrier free entry.
· Earmarking at least two parking lots.
· Non-slippery walk-way from parking lot to building.
· Signages of appropriate visibility.
· At least one toilet (on the ground floor).
· At least one drinking water tap suitable for use by differently-abled persons.
· ‘May I help you’ Booth.
In addition, long term facilities as detailed below have been planned at ‘A-1’, ‘A’ & ‘B’ category stations:
· Provision of facility for inter-platform transfer.
· Engraving on edges of platform.
Instructions have been issued to zonal railways for providing above facilities at all ‘A-1’ category stations by July 2016 and to provide all identified short term facilities at 50% of stations by March 2018.

This Press Release based on information given by the Minister of State for Railways Shri Manoj Sinha in a written reply to a question in Rajya Sabha on 29.04.2016 (Friday).

PIB

AICPIN for the month of March 2016

AICPIN for the month of March 2016

Consumer Price Index for Industrial Workers (CPI-IW) – March, 2016

The All-India CPI-IW for March, 2016 increased by 1 point and pegged at 268 (two hundred and sixty eight). On 1-month percentage change, it increased by (+) 0.37 per cent between February, 2016 and March, 2016 when compared with the decrease of (+) 0.40 per cent between the same two months a year ago.

More details awaited…

Parrikar releases list of 70 successful products of DRDO

Parrikar releases list of 70 successful products of DRDO

Parrikar says that in the last three years, many of these systems developed by DRDO have been inducted into the defence forces.

Defence Minister Manohar Parrikar released a list of 70 products and systems that have been developed by the Defence Research and Development Organisation (DRDO) for various wings of armed forces.
Parrikar says that in the last three years, many of these systems developed by DRDO have been inducted into the defence forces.

Interestingly many sub-systems are also being cited by the minister in the Upper House, with some being at various stages of trials, production and induction.

Parrikar says many of the products, originally developed for the defence forces, can also be used by Central Armed Police Forces (CAPFs), state police units and National Disaster Response Force.
DRDO has organised visits of CAPF’s to various laboratories to showcase DRDO’s products and capabilities.

The minister also said that the Ministry of Home Affairs has shortlisted about 146 items for trials, out of which trials of 78 products have already been completed.

He said a large number of products which can provide protection, day-night situational awareness and support-mobility have also been identified for induction into services by MHA after the trials.

Among the list of successful products of DRDO include:
1)  81 mm Anti Thermal Anti Laser Smoke Grenade
2)  Active Antenna Array Unit
3)  Air Defence Fire Control Radar
4)  Airborne Early Warning & Control System
5) Akash Weapon Systems
6)  Anti G Suit Mk-III
7)  Aslesha Radar
8)  Auto injector Atropine Sulphate
9)  Bi Modular Charge System
10)  Bomb 120 mm ILLG
11)  Bomb 120 mm Mortar HE
12)  Bomb 81 mm Mortar HE
13)  Bomb 81 mm Mortar PWP
14)  Bomb Mortar 51 mm HE Mk-II
15)  Bomb Mortar 51 mm ILLG
16)  Bomb Mortar 51 mm Smoke
17)  Bomb Mortar 81 mm ILLG
18)  Bridge Layer Tank T-72 (BLT-72)
19)  Cartridge ERU for aircraft with Package
20)  Cartridge Primary for 120 mm Mortar
21)  Cartridge SA 5.56 mm Ball
22)  Cartridge Signal 16 mm 1A
23)  Cartridges 105 mm IFG NC
24)  Cartridges 22” RF Ball
25)  CBRNe Remotely Operated Vehicle
26)  Chemical Agent Monitor
27)  Coastal Surveillance Radar
28)  Commander’s Thermal Imager for  T-90
29)  Commander’s Thermal Imager for BMP Tanks
30)  Commander’s Thermal Imager Mk-II for T-72
31)  Communication Link Controller
32)  Digital Radar Warning Receiver
33)  Display Processor
34)  E1 Link Encryptor
35)  Electronic Support Measure (ESM), Varuna
36)  EW Programme  – Samudrika
37)  Explosive Detection Kit
38)  Explosive Reactive Armour Mk-II
39)  Fuze 213 Mk-V M2
40)  Heavy Drop System
41)  Helmet Mounted Thermal Imaging Camera
42)  Holographic Sights for Small Weapons
43)  Identification of Friend and Foe System
44)  Integrated Multi-function Sight
45)  Laser based Directed Energy System
46)  Mine AP M16 and AP NM-14
47)  Mission Computer
48)  Mobile Autonomous Robotic System
49)  Mountain Foot Bridge
50)  NBC Canister
51)  NBC Filter
52)  Optical Target Locator
53)  Personal Decontamination Kit
54)  Phase Control Module
55)  Pinaka Launcher Mk -II
56)  Radar Computer I & II
57)  Radar Warning Receiver
58)  Resin based Combustible Cartridge Case for 120 mm FSAPDS Mk-II Ammunition
59)  Revathi Radar
60)  Rotating Telemetry System
61)  Secure Adapter for Frame Relay Encryptor
62)  Secure Multi Interface Link Encryptor
63)  Shell 105 mm IFG BE Smoke
64)  Shell 105 mm ILG Mk-I
65)  Short Range Laser Dazzler
66)  Three Colour Detector
67)  Through Wall Imaging Radar
68)  Weapon Locating Radar (WLR)
69)  Wheeled Armoured Platform
70)  X-Band Microwave Power Module

Ever since the NDA government came to power in 2014, DRDO has been put on the radar with Prime Minister Narendra Modi wanting youngsters to be given more responsibilities.

This followed the sacking of DRDO head Dr Avinash Chander in 2015 which came as a warning from the top. The post of DRDO DG and Scientific Advisor to Defence Minister was then split into two. Dr S Christopher was given the mandate of running the labs and Dr G Satheesh Reddy was made Parrikar’s advisor.

In the last one year, DRDO seldom made any claims on their achievements and kept many of its missions under wraps.

“DRDO often forgot that they have a user in the waiting with hope. It was a family party often with little focus on R&D. I am not sure if the youngsters got their due. If they (DRDO) have gone silent means, they have been told to prove their worth first. If Make in India needs to succeed DRDO must change their attitude towards private players. The list of 70 items released now would be doubled then,” says a former Indian Air Force official, who worked closely with some of the home-grown projects, while on deputation.

Source: mathrubhumi.com

Thursday, 28 April 2016

Reservation in promotion

Reservation in promotion

Extant instructions of DoPT provide that reservation in promotion by non-selection method is available to SCs and STs in all Groups i.e. Group A, B, C & D. In case of promotion by selection method, reservation is available to SCs and STs upto lowest rung of Group A. There is no reservation in promotion by selection within Group A. Reservation in posts by promotion under the existing scheme is applicable in which the element of direct recruitment, if any, does not exceed 75%.

In accordance with Supreme Court judgment dated 15.07.2014, results of Limited Departmental Competitive Examination 1996 for Section Officer grade were revised by UPSC. Appellants, who were declared successful in the modified results of SO LDCE 1996, were included in SOSL 1996 by this Department. Later the benefit was extended to similarly placed SC/ST officers who were declared qualified in the modified results of SO LDCE 1996. On their inclusion in SOSL 1996, these officers have become eligible for consideration for promotion to the next grade (Under Secretary) on completion of eight years of approved service in SO grade i.e. they become eligible for consideration in USSL 2004 onwards subject to the size of the zone. A proposal for review of USSLs 2004 and 2005 has been forwarded to UPSC in which these officers have been included in the zone.

This was stated by the Minister of State (Independent Charge) for Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr. Jitendra Singh in a written reply to a question by Shri Ronald Sapa Tlau in the Rajya Sabha today.

PIB

Review of performance of public servants

Review of performance of public servants

The Ministry of Personnel, Public Grievances and Pensions is aware that review of performance of public servants occurs only after attaining age of 50 years or completion of 30 years of service. As per Fundamental Rule (FR) 56 (j):

“The Appropriate Authority shall, if it is in the opinion that it is in the public interest so to do, have the absolute right to retire any Government servant by giving him notice of not less than three months in writing or three months’ pay and allowances in lieu of such notice:

If he is in Group ‘A’ or Group ‘B’ service or post in a substantive, quasi-permanent or temporary capacity and had entered Government service before attaining the age of 35 years, after he has attained the age of 50 years.

(i) in any other case after he has attained the age of fifty-five years”.

(ii) In addition, as per Rule 48 of CCS(Pension) Rules, 1972, at any time after a Government servant has completed thirty years’ qualifying service, he may be required by the appointing authority to retire in the public interest, and in the case of such retirement the Government servant shall be entitled to a retiring pension provided that the appointing authority may also give a notice in writing to a Government servant at least three months before the date on which he is required to retire in the public interest or three months’ pay and allowances in lieu of such notice.

Further, as per Rule 16(3) (amended) of the All India Services (Death-cum-Retirement Benefits) Rules, 1958, the Central Government may, in consultation with the State Government concerned, require a Member of the Service to retire from Service in public interest, after giving such Member at least three month’s previous notice in writing or three month’s pay and allowances in lieu of such notice, after the review when such Member completes 15 years of qualifying Service; or
(i) after the review when such Member completes 25 years of qualifying Service or attains the age of 50 years, as the case may be; or

(ii) if the review referred to in (i) or (ii) above has not been conducted, after the review at any other time as the Central Government deems fit in respect of such Member.

(iii) The above provisions have been reiterated from time to time and recently vide DoPT’s O.M. No. 25013/02/2005-AIS-II dated 28.06.2012 and 03.08.2015, and O.M. No. 25013/1/2013-Estt.A-IV dated 11.09.2015.
Disciplinary cases are conducted as per prescribed procedures. Normally, the details and monitoring of disciplinary cases is to be done by the respective cadre authorities. The Central Government has also from time to time been stressing on the need to complete disciplinary cases expeditiously and monitoring the same.
This was stated by the Minister of State (Independent Charge) for Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr. Jitendra Singh in a written reply to a question by Shri Vivek Gupta in the Rajya Sabha today.

PIB

Disclosure of information under RTI

Disclosure of information under RTI

As per guidelines dated 15.04.2015 issued by the Government of India, the Ministries/Departments of the Government of India and other Public Authorities are proactively working towards suo-motu disclosure of information on their websites so as to reduce the need for filing RTI applications.

As per the Annual Report of the Central Information Commission (CIC), 75.27% of the Public Authorities have filed their Annual Returns to the CIC for 2014-15, which is higher than the figure of 72.54 % for 2013-14, indicating an improved compliance over the previous year.

With a view to maximize suo-motu disclosure by public authorities, Government has issued guidelines to all the Ministries/Departments of Govt. of India on 15.4.2013. Government has further issued O.M. dated 29.06.2015 ensuring compliance to the recommended measures for strengthening implementation of Section 4 of RTI Act, by all public authorities. Another O.M. dated 9.7.2015 has been issued for appointment of a nodal officer of the rank of Joint Secretary for implementation of Section 4 of RTI Act.

The CIC has provided web based software known as RTI Annual Return Information System for uploading annual return online at URL http://rtiaar.nic/rtiar09/login.asp.

The CIC has, from time to time, issued letters to various defaulting Public Authorities for submission of quarterly returns.

This was stated by the Minister of State (Independent Charge) for Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr. Jitendra Singh in a written reply to a question by Shri A. W. Rabi Bernard in the Rajya Sabha today.

PIB

7th Pay Commission – Centre all set to Implement Recommendations – Notification most likely in June

7th Pay Commission – Centre all set to Implement Recommendations – Notification most likely in June

The Central Government is all set to implement recommendations of 7th Pay Commission. Reportedly, the notification for the ‘increment process’ will be issued in the month of June.

7th Pay Commission – Centre all set to Implement Recommendations – Source added, Centre will issue notification most likely in the third week of June after Cabinet’s nod to the recommendations of 7th pay Commission.

The Central Government is all set to implement recommendations of 7th Pay Commission. Reportedly, the notification for the ‘increment process’ will be issued in the month of June.

Source added, Centre will issue notification most likely in the third week of June after Cabinet’s nod to the recommendations of 7th pay Commission.

A Finance Ministry source was quoted by a news website as saying, “But in case it’s not issued in third week of June, it will be issued at the beginning of fourth week of June. Usually it takes around one week to issue a notification, after cabinet nod”.

Ministry is also hopeful that Empowered Committee of Secretaries which is looking after the recommendations at the moment, will submit its report by June 15.

Most likely, increased payout will be handed over to central government employees earliest at the end of June or latest by July. However, sources suggest that Empowered Committee of Secretaries which has been entrusted the responsibility to overview recommendations will not make much change into it.

Earlier, the government conceded that implementation of new pay scales proposed by the 7th pay commission is estimated to put an additional burden of Rs 1.02 lakh crore which is around 0.7 per cent of GDP.

Giving details of financial implications of the recommendations, Minister of State for Finance Jayant Sinha informed Parliament that the burden on pay head would increase by Rs 39,100 crore to about Rs 2.83 lakh crore in the current fiscal.

Sinha also said that the announcement of Dearness Allowance has no impact on the recommendations of the 7th Pay Commission.

The Empowered Committee of Secretaries headed Cabinet Secretary P K Sinha to process the recommendations of the 7th Pay Commission was set up in January. The recommendations of the Pay Commission will have bearing on the remuneration of 47 lakh central government employees and 52 lakh pensioners.

Source: One India

Wednesday, 27 April 2016

7th Pay Commission Latest News – Minister’s reply on financial outgo and implementation Date

In the event of 7th Pay Commission implementation in 2016-17, additional burden to exchequer would be Rs 1.02 lakh crore, which is 0.7 per cent of GDP

7th Pay Commission Latest News – Minister’s written reply in Parliament on financial outgo and implementation Date – Minister also confirms recent release of additional DA has no impact on the recommendation of 7th Pay Commission

7th Pay Commission likely Implementation date and Financial Implication:

Likely 7th CPC Implementation Date : 7th Pay Commission recommendations to be implemented after approval of the Cabinet on completion of screening of suggestions by Empowered Committee of secretaries which is on the job presently.

Date of Effect of 7th Pay Commission Recommendations:

Subject to acceptance by the government, 7th Pay Commission Recommendations will take effect from January 1, 2016

7th Pay Commission Financial Implication:

Type of Salary Head Total Financial outgo without 7th CPC implementation (In Crore) Total Financial outgo if 7CPC implemented (In Crore) Financial Burden out of 7CPC implementation (In Crore)
Salary 2.44 lakh 2.83 lakh 39,100
HRA 12,400 29,600 17,200
Pension 1.42 lakh 1.76 lakh 33,700
Other Allowances 24,300 36,400 12,100

Total 1,02,100

Financial Express report on Minister’s reply in Rajya Sabha on 7th Pay Commission Report:

Implementation of new pay scales recommended by the 7th Pay Commission is estimated to put an additional burden of Rs 1.02 lakh crore, or 0.7 per cent of GDP, on the exchequer in 2016-17, government said. The implementation of recommendations of the 7th Pay Commission report, however, would be after approval of the Cabinet on completion of screening of suggestions by a high-level panel of secretaries, the Rajya Sabha was informed.

The implementation of the new 7th Pay Commission pay scales is estimated to put an additional burden of Rs 1.02 lakh crore (or 0.7 per cent of GDP at current market prices) on the exchequer in 2016-17. Subject to acceptance by the government, they will take effect from January 1, 2016. In a written reply, Minister of State for Finance Jayant Sinha also said that the announcement of Dearness Allowance has no impact on the recommendations of the Pay Commission.

Giving details of financial implications of the recommendations, Sinha said the burden on pay head would increase by Rs 39,100 crore to about Rs 2.83 lakh crore in the current fiscal. Without the Pay Commission recommendations, the outgo would have been Rs 2.44 lakh crore.

The outgo towards HRA will increase by Rs 17,200 crore to Rs 29,600 crore. The outgo on pension front will be Rs 1.76 lakh crore (increase of Rs 33,700 crore) and on other allowance will be Rs 36,400 crore (up Rs 12,100 crore).

The Empowered Committee of Secretaries headed Cabinet Secretary P K Sinha to process the recommendations of the 7th Pay Commission was set up in January. The recommendations of the 7th Pay Commission report will have bearing on the remuneration of 47 lakh central government employees and 52 lakh pensioners.

Changes in National Pension System (NPS)

Changes in National Pension System (NPS)

The Government has proposed the following in the Finance Bill, 2016 with regard to the National Pension System (NPS):
i. Allowing 40 per cent of the NPS corpus tax exempt on lump sum withdrawal.
ii. Waiving service tax on the NPS corpus utilized for purchase of annuity.
iii. The amount receivable by the nominee in case of death of the subscriber covered under NPS has been made tax exempt.
iv. One-time portability without any tax implication has been allowed to the subscriber for shifting from recognized provident fund to NPS.
v. One-time portability without any tax implication has been allowed to the subscriber for shifting from superannuation fund to NPS.
As per the provisions of the Finance Bill, 2016, 40 per cent of the pension corpus under NPS is proposed to be tax exempt on lump sum withdrawal. Also, the proposal in the Union Budget, 2016-17 for taxation of 60 per cent of provident fund corpus under the Income Tax Act, 1961 has been withdrawn by the Government. Employees’ Provident Fund (EPF) remains an Exempt Scheme.

However, EPF and NPS are different schemes available to separate categories of subscribers and they are not comparable on one-to-one basis.

This information given by Shri Bandaru Dattatreya, Minister of State (IC) for Labour and Employment, in reply to a question in Rajya Sabha today.

PIB

FM: Government has taken various measures to deal with the issue of Non Performing Assets (NPAs) in Banking Sector

FM: Government has taken various measures to deal with the issue of Non Performing Assets (NPAs) in Banking Sector

The Union Finance Minister, Shri Arun Jaitley said that the Government has taken various measures to deal with the issue of Non Performing Assets (NPAs) in Banking Sector especially in case of Public Sector Banks (PSBs). The Finance Minister said that there are two categories of defaulters, viz. those who are unable to pay back due to economic slowdown both in domestic and global market and other reasons outside their control as well as wilful defaulters including loans sanctioned without due diligence by the banks. The Finance Minister said that the Government has taken various measures to deal with both these categories of defaulters. The Finance Minister Shri Jaitley was making his Opening Remarks at the Second Meeting of the Consultative Committee attached to the Ministry of Finance on the subject: “NPAs in Banking Sector” here today.

The Finance Minister Shri Jaitley further said that in order to deal with default due to economic slowdown, the Government has taken various measures to revive the stressed sectors which mainly include steel, textiles, power and roads among others. Shri Jaitley said that the Government has also done recapitalization of banks by providing Rs. 25,000 crore in the last year Union Budget 2015-16 as well as in this year’s budget 2016-17. He said that transparency and professionalism has been brought in appointment process for top management positions in the PSBs including Chairmen and Managing Directors. He said the Government has taken various measures to make the management professional, has given full autonomy to the banks in taking commercial decisions without any interference from the Government.

The Finance Minister Shri Jaitley said that Bankruptcy Law has been cleared by the Joint Parliament Standing Committee and is likely to be discussed in the current Budget Session of the Parliament. The Finance Minister also said that SARFAESI Act and DRT Act have been amended to make the recovery process more efficient and expedient. The Finance minister said that wherever it was observed that number of cases in which action taken by the banks against guarantors for recovery of defaulted loans is insufficient, the Government has advised the banks to take action against guarantors in the event of default by borrowers under relevant Sections of SARFAESI Act, Indian Contract Act and RDDB & FI Act. The Finance Minister said that a direction to this effect has been issued to the banks last month. The Finance Minister also highlighted the various measures taken by the Government for revival of stressed sectors such as steel, road, power and textile sectors among others.

Later the Members of the Consultative Committee gave their suggestions with regard to recovery of loans and bringing NPAs under control. Members suggested that there is need for bringing more transparency in the system and list of all the defaulters whose loans have been written off by the PSBs be made public. They asked for exemplary action against the wilful defaulters so that others do not indulge in similar activities. Some members appreciated the Government’s effort to make the appointment process for the top management positions of banks professional. Some members also suggested that there is need for restructuring of agricultural loans in order to help the farmers. Members also suggested that there should be no employment cut due to any amalgamation or merger of banks. Members asked the Government to ensure level playing field to all Indian entrepreneurs across the board. They suggested that due to wilful default by some prominent business men, others may not be considered and treated in a similar fashion. Some members suggested that a committee be constituted to finalise recovery process in case of loans given to big corporate houses by various PSBs.

The Members of the Consultative Committee who participated in the aforesaid Meeting include Shri Anirudhan Sampath, Shri Baijayanta Jai Panda, Shri Dilip Kumar Mansukhlal Gandhi, Shri Kailkesh Narayan Singh Deo, Smt. Poonam Mahajan, Shri PrabhatsinhPratapsinh Chauhan, Shri Ram Charitra Nishad, Shri Sriram Malyadri, Shri Subhash Chandra Baheria, Smt. Supriya Sadanand Sule, Shri Suresh Chanabassappa Angadi (all members of Lok Sabha); Shri Anil Desai, Shri Digvijaya Singh, Dr. K.P. Ramalingam, Shri Rajkumar Dhoot, Shri Ranvijay Singh Judev, Shri Satish Chandra Misra, Kumari Selja and Shri Sukhendu Sekhar Roy (all members of Rajya Sabha).

Along with the Finance Minister, the Minister of State for Finance Shri Jayant Sinha, Shri Ratan P. Watal, Finance Secretary, Shri Shaktikanta Das, Secretary, DEA, Dr. Hasmukh Adhia, Revenue Secretary, Ms. Anjuly Chib Dugal, Secretary, Financial Services, Shri Neeraj Kumar Gupta, Secretary, DIPAM, Dr. Arvind Subramanian, Chief Economic Adviser (CEA), and other senior officers of the Ministry of Finance attended the aforesaid Consultative Committee Meeting.

PIB

7th Pay Commission – Indian Army Chief and his Counterparts in the IAF and the Navy will draw more salary than the top General and Equivalent in the US based on Purchasing Power Parity (PPP)

7th Pay Commission – Indian Army Chief and his Counterparts in the IAF and the Navy will draw more salary than the top General and Equivalent in the US based on Purchasing Power Parity (PPP)

If the recommendations of the 7th pay commission are implemented, the Indian Army chief’s annual salary will jump to $189,482 (in PPP terms), almost $8,000 more than what a general and equivalent ranks draw in the US. The huge salary hikes will apply equally to civilian officers too.

7th Pay Commission – These conclusions are, however, equally applicable to civilian employees of the government who are similarly placed.

7th Pay Commission recommendation – For the first time, the Indian Army chief and his counterparts in the IAF and the Navy will draw more salary than the top general and equivalent in the US based on purchasing power parity (PPP) terms when the recommendations of the 7th Central Pay Commission are implemented.
A comparison drawn by the Institute for Defence Studies and Analyses (IDSA), a defence ministry think tank, on the pay packets of Army chiefs and equivalent in the US, the UK and India said a general and equivalent in the US was paid $181,500 per annum (in PPP terms). The salary in the UK for similar ranks was $269,868. In India, the three services chiefs, who enjoy pay equivalent to the Cabinet secretary, received $140,520.

If the recommendations of the 7th pay commission are implemented, the Indian Army chief’s annual salary will jump to $189,482 (in PPP terms), almost $8,000 more than what a general and equivalent ranks draw in the US. The huge salary hikes will apply equally to civilian officers too.

India’s annual per capita income is $5,833 (in PPP terms) while it is $54,630 in the US and $39,137 in the UK.

The purchasing power parity conversion factor, used worldwide to compare income levels in different countries, is “the number of units of a country’s currency required to buy the same amounts of goods and services in the domestic market as a dollar would buy in the US”.

The pay panel observed, in light of protests by the three Service chiefs asking for more money and perks, that “defence service officers and JCO/ORs in India, based on 6th CPC pay scales, are placed quite well in terms of pay, even in relation to defence personnel in countries like US and UK, where the GDP per capita in PPP terms for the country as a whole is significantly higher than that of India”.

These conclusions are, however, equally applicable to civilian employees of the government who are similarly placed. The pay panel’s analysis did not take into account the augmentation of pay being recommended by the 7th CPC.

The IDSA, an autonomous institution funded by the government, was in 2015 commissioned by the Pay Commission to study how well the military and the generals were paid.

Source: TOI

7th Pay Commission – Government Plans to axe 52 out of 200 allowances

Besides recommending that 52 allowances be abolished, the 7th pay Commission suggested that another 36 be subsumed in an existing allowance or in new allowances it proposed.

7th Pay Commission – Government Plans to axe 52 out of 200 allowances – The 7th Pay Commission found inadequate the justifications offered by the Ministries for these allowances.

Secret allowance, family planning allowance, desk allowance, cash handling allowance, metropolitan allowance and headquarters allowance are among 52 of the nearly 200 allowances which the government could scrap soon.

The 7th Pay Commission found inadequate the justifications offered by the Ministries for these allowances. The government was asked to suggest rationalisation of a variety of allowances. A committee is examining the Commission’s recommendations.

The 7th pay Commission found the entire system of nearly 200 allowances “haphazard”. There are 13 for travel, 14 for additional duty, 51 for risk and hardship, nine for uniform, 4 for good services, 5 sumptuary allowances, 2 for training and 3 for knowledge update. Many were meagre cash payments and lost significance, it concluded. Rejecting the demand for doubling the family planning allowance — ranging from Rs. 210 to Rs.1,000 a month depending on grade pay — for those who adopt family planning norms after one child, the Commission recommended that it be abolished as a separate allowance was no longer needed.

Also to be abolished is the “meagre and outdated” Rs. 90 a month cycle allowance to postal officials. The briefcase allowance, paid once in three years and covering expenditure of up to Rs.10,000 on handbags, could be enhanced.

Allowances are paid to employees — both in civil and defence jobs — over and above the basic pay, either as a percentage of it, or as a specified amount, which usually varies with employees’ “level or status”. Children education allowance is an exception for which the absolute amount is the same across all ranks. Besides recommending that 52 allowances be abolished, the 7th pay Commission suggested that another 36 be subsumed in an existing allowance or in new allowances it proposed.

While allowances for newspapers, Internet and mobile phones are paid in the private sector, government employees seem to be receiving a whole bunch of top-up payments, including in cash, for simply carrying out their job.

Arguing that responding to emergencies is part of the duties of any government servant, it recommended the scrapping of breakdown allowance given by the Ministry of Railways. Similarly, it found no need for secret allowance paid every month as a flat sum for dealing with ‘Top Secret’ in the Cabinet Secretariat or metropolitan allowance for Delhi Police personnel on account of “hardship faced in a metropolitan” area. The present rates are Sub-Inspector Rs.180 a month and Constable, Head Constable and Assistant Sub-Inspector Rs. 120.

The axe could also fall on headquarters allowance (Rs. 225 a month) paid to officers of Organised Group A Service in the Department of Telecom and some other Ministries for postings at the headquarters.

With growing emphasis on banking, it recommended abolishing cash handling allowance for cashiers working in Central government departments. It is paid at rates starting from Rs. 230 for disbursing sums less than Rs. 50,000 on an average in a month and goes up to Rs. 900 for sums in excess of Rs. 10,00,000.

Investigation allowance to attract talent from other Ministries to the Serious Fraud Investigation Office of the Ministry of Corporate Affairs is another such example.

Source: The Hindu

Unions to protest lowering provident fund interest rate on Apr 29

Trade-unions-provident-fund
Unions to protest lowering provident fund interest rate on Apr 29

Trade unions today gave call for day-long nationwide protest on Friday against Finance Ministry’s decision to fix 8.7 per cent interest rate for provident fund subscribers, lower than 8.8 per cent decided by the EPFO.

“While condemning such arrogant anti-worker approach of the government, the central trade unions call upon the workers and the trade unions irrespective of affiliations to protest against the same by holding demonstrations, meeting, etc on April 29, 2016, throughout the country,” ten central trade unions said in a joint statement today.

The unions include Indian National Trade Union Congress, All India Trade Union Congress, Centre of Indian Trade Unions and All India United Trade Union Centre.

However, RSS-backed Bharatiya Mazdoor Sangh (BMS) has opted out of the proposed stir.
When contacted, BMS General Secretary Virjesh Upadyay said, “BMS will hold a nationwide protest tomorrow.”

The unions strongly denounce the “unilateral reduction” in interest rate on Employees Provident Fund (EPF) from 8.8 per cent to 8.7 per cent, ignoring the unanimous decision of tripartite Central Board of Trustees (CBT) of EPFO, the statement added.

CBT, which is headed by the Labour Minister, is the apex decision making body of the Employees Provident Fund Organisation (EPFO).

“On February 16, 2016, the CBT of EPFO, in its meeting chaired by Labour Minister (Bandaru Dattatreya) unanimously decided the interest rate on EPF at 8.8 per cent as an interim measure with an indication of increasing it further in view of availability of funds generated by EPF,” it said.

But the Finance Ministry, imposed its decision to reduce the interest rate further to 8.7 per cent without even consulting the CBT, it added.

Yesterday, Dattatreya told Lok Sabha: “The CBT, at its meeting held in February 2016, had proposed an interim rate of interest at 8.8 per cent to be credited to the accounts of EPF subscribers for 2015-16. The Finance Ministry has, however, ratified an interest rate of 8.7 per cent.”

The interest rate for 2013-14 and 2014-15 was fixed at 8.75 per cent.

It is probably for the first time that Finance Ministry has overruled the decision of the Central Board of Trustees (CBT) on the interest rate.

PTI

Jharkhand government increased the dearness allowance (DA) of its employees by six per cent.


Jharkhand-dearness-allowance-6percent-hike

Jharkhand government increased the dearness allowance (DA) of its employees by six per cent.



The decision, which was taken at the cabinet meeting chaired by Chief Minister Raghubar Das, would be applied retrospectively from January 1 this year.

The cabinet also approved introducing Centre’s ‘Pradhan Mantri Fasal Bima Yozana’ in the state.

It also gave nod to setting up dialysis centres through public private partnership in Bokaro, Chaibasa, Dhanbad, Dumka, Gumla, Hazaribagh, Jamshedpur and Palamau districts.

PTI

7th Pay Commission award to put extra burden of Rs 1.02 lakh crore in FY 16-17

7th Pay Commission award to put extra burden of Rs 1.02 lakh crore in FY 16-17

Implementation of 7th Pay Commission award is estimated to put an additional burden of Rs 1.02 lakh crore, or 0.7 per cent of GDP, on the exchequer in 2016-17, government said today.

The implementation of recommendations of the 7th Pay Commission, however, would be after approval of the Cabinet on completion of screening of suggestions by a high-level panel of secretaries, the Rajya Sabha was informed today.

The implementation of 7th Pay Commission award is estimated to put an additional burden of Rs 1.02 lakh crore (or 0.7 per cent of GDP at current market prices) on the exchequer in 2016-17. Subject to acceptance by the government, they will take effect from January 1, 2016.

In a written reply, Minister of State for Finance Jayant Sinha also said that the announcement of Dearness Allowance has no impact on the recommendations of the Pay Commission.

Giving details of financial implications of the recommendations, Sinha said the burden on pay head would increase by Rs 39,100 crore to about Rs 2.83 lakh crore in the current fiscal. Without the Pay Commission recommendations, the outgo would have been Rs 2.44 lakh crore.

The outgo towards HRA will increase by Rs 17,200 crore to Rs 29,600 crore. The outgo on pension front will be Rs 1.76 lakh crore (increase of Rs 33,700 crore) and on other allowance will be Rs 36,400 crore (up Rs 12,100 crore).

The Empowered Committee of Secretaries headed Cabinet Secretary P K Sinha to process the recommendations of the 7th Pay Commission was set up in January.

The recommendations of the Pay Commission will have bearing on the remuneration of 48 lakh central government employees and 52 lakh pensioners.

PTT

Tuesday, 26 April 2016

Scheme for promotion of Adventure Sports and similar activities amongst Central Government Employees Continuation of Scheme during the year 2016-17 and inclusion of new Institutes

No.125/1/2015-16/CCSCSB
Government of India
Ministry of Personnel, Public Grievances & Pensions
Department of Personnel & Training
******
Lok Nayak Bhawan, New Delhi
Dated 26th April, 2016.
OFFICE MEMORANDUM

Sub: Scheme for promotion of Adventure Sports and similar activities amongst Central Government Employees Continuation of Scheme during the year 2016-17 and inclusion of new Institutes.

The undersigned is directed to refer to the Department of Personnel & Training Office Memorandum of even number dated 4th December, 2015 circulating therewith Scheme for promotion of Adventure Sports and similar activities amongst Central Government Employees and to say that it has been decided to continue the Scheme during the year 2016-17. Further, following Institutes/Organizations have also been included in the list of approved Institutes under the Scheme:

i. Himalayan Mountaineering Institute (HMI), Darjeeling, West Bengal.
ii. Jawahar Institute of Mountaineering (JIM), Pahalgam, J&K.
iii. National Institute of Mountaineering & Allied Sports (NIMAS),
Dirang, Arunachal Pradesh.
iv. Youth Hostels Association of India (YHAI), Chankyapuri, New Delhi.

2. In view of the above, it is requested that the contents of the Scheme (copy enclosed) may please be disseminated amongst the employees who are eligible to avail the benefits of the Scheme and encourage them to participate in the Scheme.
(Abhay Jain)
Under Secretary to the Govt. of India.
Tel:24646961
To
Director/Deputy Secretary(Administration) of all Ministries/Deptt.

No.125/1/2015-16-CCSCSB
Department of Personnel & Training
New Delhi, the 26th April, 2016.

SCHEME FOR PROMOTION OF ADVENTURE SPORTS & SIMILAR ACTIVITIES AMONGST CENTRAL GOVERNMENT EMPLOYEES
1. Background: The Department of Personnel and Training recognizes that welfare of employees is one of the prime tasks of personnel management and sports activities play an important role in improving their efficiency and morale. Participation by Central Government Employees in adventure sports and similar activities will give them a platform where they would learn lessons from nature and use the knowledge acquired for welfare of the society.

2. Vision: To foster spirit of risk-taking, cooperative team work, capacity of readiness, vital response to challenging situations, endurance and environmental awareness.

3. Mission: The Mission of the Scheme for promotion of adventure sports and similar activities is to encourage Central Government Employees working in the Ministries/Department of the Government of India to take part in these activities by giving financial assistance and other incentives. The Central Civil Services Cultural & Sports Board, a Society registered under the Society Registration Act, 1860, which is under the aegis and control of the Department of Personnel & Training will be the nodal agency for the Scheme.

4. Objectives:
(i) The Scheme would tackle the alarming situation of stress and impact of sedentary life on Government servants as highlighted in several studies conducted so far;
(ii) It would provide a creative outlet to Central Government Employees;
(iii) It would create and foster spirit of risk – taking, cooperative team work, capacity of readiness and vital response to challenging situations and of endurance;
(iv) Central Government Employees would be prepared for better Disaster Management; and
(v) Environmental awareness would be inculcated amongst the Central Government Employees.

5. Scope of the Scheme: The scope of the Scheme is limited to Central Government Employees working in the Ministries/Departments of Government of India. It will also be limited to the programme run by Institutes/Organizations approved by the Department of Personnel & Training.

6. Activities to be sponsored and Institutes: The Department of Personnel & Training will sponsor programmes of 5-7 days duration to be organized by the Institutes/Organizations listed at Annex-I.

The programme will have components of environmental awareness, disaster management, team spirit, capacity building, and Swachchh Bharat Campaign. The activities under the programme will be Trekking, Mountaineering, Rock-Climbing, Cycling in a difficult terrain, Skiing, Surfing, Boat Sailing, Snorkeling, Rafting, Para Sailing Ballooning, Para Gliding, Jungle Safari/Trekking, Desert Safari/Trekking, Beach Trekking and Environmental Awareness Camps etc. A Calendar of the programmes admissible under the Scheme will be circulated by the Department of Personnel & Training from time to time.

7. Financial Assistance and other incentives:

7.1 The Department of Personnel & Training will provide financial assistance to the eligible Central Government Employees for the programme of approved activities and conducted by the Institutes
listed in Annex I .

7.2 Financial assistance will be in the form of reimbursement of Travel Expenses, programme fee and Hiring Charges of the equipments as per the terms and conditions specified in paragraph

7.3 and with a maximum ceiling of Rs.20,OOO/- (Rs. Twenty thousand only) per person per camp. The assistance will be limited to one activity in a block period of two year. Financial Assistance of 100% of programme fee would be provided in a calendar year to two officials of each Ministries/Departments who have been awarded by the Ministry/Department for excellence in service and nominated for the programme.

7.3 The following Heads are admissible for financial assistance under the Scheme:
i) To and fro travel expenses as per the entitlements under Leave Travel Concessions Rules with a maximum ceiling of Rs. 4,000/;
ii) Re-imbursement of Programme fee:
(a) 90% for Group ‘ C’ Central Government Employee;
(b) 80% for Group ‘ B’ Central Government Employee; and
(c) 75% for Group’ A’ Central Government Employee.
iii) Actual hiring charges if the necessary equipment are hired from any Government agency with adequate proof subject to maximum of Rs. 2000/-.
7.4 Special Casual Leave will be granted to eligible participants in
accordance with Department of Personnel & Training Office Memorandum No. 6/1/1985-Estt.(Pay-I) dated 16th July, 1985, No. 6/1/85-Estt(Pay-I) dated 7th November, 1988 and No.6/3/2015 – Estt(Pay-I) dated 29th February, 2016.

8. Procedure for availing benefits of the Scheme:
8.1 The Central Government Employee will register himself with the Institute/Organization for the approved programme and make payment for it. He/she will simultaneously also submit his/her application to Central Civil Services Cultural & Sports Board duly
forwarded by the Welfare Officer of their  respective Ministry/Department.
8.2 The Ministry/Department will forward nominations of officials who have been awarded by the Ministry/Department for excellence in service and eligible for Financial Assistance of 100% of programme fee.
8.3 The Welfare Officer of the Ministry/Department in each case will certify that the recommended official is a Central Government employee working in the main Ministry/Department and medically fit for the adventure activities opted by him.
8.4 The financial assistance will be given on successful completion of the programme and submission of participation certificate to the Central Civil Services Cultural and Sports Board.
9. Flexibility to expand the scope: The Department of Personnel & Training will reserve the rights to modify the scheme, addition or deletion of activities, Institutes/Organization, change in pattern of financial assistance and other conditions of the Scheme without any
prior notice.
ANNEX I
LIST OF APPROVED INSTITUTES/ORGANISATIONS FOR SCHEME FOR PROMOTION OF ADVENTURE SPORTS AND SIMILAR ACTIVITIES AMONGST GOVERNMENT EMPLOYEES AS ON 13.04.2016
1. Nehru Institute of Mountaineering, Uttarkashi, Uttarakhand.
(Recognized by Ministry of Defence and Government of Uttarakhand)
http://www.nimindia.net
2. Atal Bihari Vajpayee Institute of Mountaineering and Allied Sports, Manali, Himachal Pradesh. (Government of Himachal Pradesh)
http://www . adventureh i ma laya. org
3. Indian Institute of Skiing & Mountaineering, Department of Tourism, Gulmarg, Jammu & Kashmir. (Ministry of Tourism)
http: //www .iismgulmarg .in
4. National Institute of Water Sports, Vasco da Gama, Goa. (Ministry of Tourism) http://www.niws.nic.in
5. Swami Vivekanand Institute of Mountaineering, Mount Abu, Rajasthan.
(Government of Gujarat) http ://www.gujmount.com
6. Garhwal Mandai Vikas Nigam Ltd, Dehradun, Uttarakhand.
(Govern ment of Utta ra kha nd) http://www.gmvnl.com/newgmvn
7. Himalayan Mountaineering Institute (HMI), Darjeeling, West Bengal. http://www.hmi-darjeeling .com
8. Jawahar Institute of Mountaineering (JIM), Pahalgam, J&K.
http://www.jawaharinstitutepahalgam.com
9. National Institute of Mountaineering & Allied Sports (NIMAS), Dirang, Arunachal Pradesh.
10. Youth Hostels Association of India (YHAI), Chankyapuri, New Delhi.
http://www.yhaindia .org
***
Original Order

Posting of regular Under Secretary and posting on promotion to the grade of Under Secretary on ad-hoc basis – seeking options

IMMEDIATE
No.5/3/2015-CS.I(U)
Government of India
Ministry of Personnel, Public Grievances & Pension –
(Department of Personnel & Training)
*****
2nd Floor, LokNayakBhawan,
Khan Market, New Delhi-3
Dated the 26th April, 2016
OFFICE MEMORANDUM

Subject: Posting of regular Under Secretary and posting on promotion to the grade of Under Secretary on ad-hoc basis – seeking options – regarding.

The undersigned is directed to say that one Under Secretary who has returned from long leave is to be given posting. Further, it is also proposed to promote 8 Section Officers to the grade of Under Secretary from the approved panel.

2. The vacancies proposed to be filled up and the officers who are to be considered for posting are given in the Annexures to this OM. The vacancies include vacancies on account of existing vacancies and the retirement / deputation vacancies arising on 30.04.2016. Ministries/ Departments are requested to verify the vacancy position and in case of any discrepancy the same may be brought to the notice of this Department immediately.

3. The officers are requested to exercise option by 5.30 PM on 27.04.2016. The options may be submitted at the e-mail address given below as per enclosed proforma. Posting of officers will be decided in terms of Rotational Transfer Policy.

4. Web Based Cadre Management System: The officers concerned should also ensure that their data is complete in all respects in the web based cadre management system at cscms.nic.in If the data is not complete it should be first got updated through the nodal officer of the Ministry/ Department / CS.I Division before submitting the option . If the data is not complete in the web based system, the officer concerned will not be considered for promotional posting.

(Raju Saraswat)
Under Secretary to the Government of India
Tele: 24629412
Telefax: 24629414
Email: r.saraswat@nic.in
To: Officers concerned (through website of this Department)
ad-hoc-annexureI

ad-hoc-annexure
Source: Persmin

Policy Towards World War II Veterans Pensioners

Policy Towards World War II Veterans Pensioners

Ministry of Defence

The pension of World War-II pensioners was granted as per provisions of Pension Regulation for the Army in India (Part-I & Part-II) 1940, prevalent at that time. As per these Pension Regulations, there were provisions of Retiring pension, Ordinary pension, Special pension Family, Disability pension, Children Allowance and Gratuity, which were governed on the basis of different eligibility conditions like rank last held in different arms, qualifying service rendered, attributability / non attributability and aggravation etc. In addition, there was provision of ‘Jangi Inam’ for World War-I & II veteran pensioners which was payable for two lives and one life respectively. At present, the rate of monetary allowance on account of Jangi Inam is Rs.500/- per month.

The number of surviving World War-II pensioners and Family pensioners is dynamic and therefore, keeps on changing due to natural wastage. As regards actual number of World War-II pensioners, no separate data-base has been maintained to distinguish World War-II veteran pensioners vis-a-vis other pensioners.
This information was given by Minister of State for Defence Rao Inderjit Singh in a written reply to Shri Rajeev Chandrasekhar in Rajya Sabha today.

PIB

Steps Taken on Dhirendra Singh Committee Report

Steps Taken on Dhirendra Singh Committee Report

Ministry of Defence 

The Dhirendra Singh Committee submitted its Report to the Government in July, 2015. The Committee made 43 recommendations, out of which, 16 recommendations were regarding Make-in-India and 27 recommendations were regarding Defence Procurement Policy.

The Dhirendra Singh Committee recommendations have been examined by the Government and suitably factored into the Defence Procurement Procedure (DPP) 2016, which focuses on a boost to the Make-in-India initiative of the Government of India, by promoting indigenous design, development and manufacturing of defence equipment, platforms and systems.

This information was given by Defence Minister Shri Manohar Parrikar in a written reply to Shri Harivansh in Rajya Sabha today.

PIB

Over two lakh new central government jobs by 2017

Over two lakh new central government jobs by 2017

In a good news for people seeking government jobs, over two lakh posts are estimated to be created by the Central government in its various departments.

The Central government has projected in the budget estimates for 2016-17 an increase of about 2.18 lakh in the existing workforce of 33.05 lakh, as in 2015, by 2017.

The Home Ministry will add 5,635 new jobs to take its strength to 22,006 in 2017. Similarly, there will be 47,264 new posts in police departments to take its total to 10,75, 341 in 2017 from 10,28,077 (its strength in 2015), it said.

There will be increase of 10,894 in staff strength of the Defence Ministry to take the manpower count to 51,084 in 2017, according to the budget estimates presented by Finance Minister Arun Jaitley.
Minister of State for Personnel, Public Grievances and Pensions Jitendra Singh today said the projection has been made after due consideration and keeping in mind the futuristic vision of the government.

“The government, wherever required, takes into consideration creation of new posts. The budget estimates on the strength of Central government establishments will help provide good governance,” he told PTI.
The Civil Aviation Ministry will have 1,080 more posts to reach a total of 2,140 by 2017. The Ministry’s staff strength as in 2015 is 1,060, according to the budget estimates.

Similarly, the Department of Atomic Energy will add 6,353 new jobs to take the total of manpower to 38,025. There will be an estimated increase of 2,072 posts in 2017 in the External Affairs Ministry as against the actual strength of 8,913 in 2015, it said.

Mines Ministry will have 4399 new jobs by 2017. The staff strength of the ministry is 8,503, as in 2015. Similarly, the Personnel Ministry will see a jump of 1,796 new posts from 8,568 in 2015, as per the budget estimates.

The Cabinet Secretariat has already asked all ministries to mention “employment generation potential” in each scheme while seeking approval of the Union Cabinet and its Committees.

Similarly, all proposals seeking approval of appraisal bodies like Foreign Investment Promotion Board and Core Group on Disinvestment need to mandatorily mention employment generation potential, the Cabinet Secretariat has said.

PTI

Providing option of more Life Cycle Funds to the NPS subscribers

Annexure B -For Public and Stakeholders Comments 

Subject: Providing option of more Life Cycle Funds to the NPS subscribers
A. Launch of NPS and Current scenario

1. The National Pension System (NPS) was introduced in 2003 for all Central Government employees (except armed forces) who joined the service on or after 01.01.2004. The NPS marked a paradigm shift from the Defined Benefit Pension Scheme to Defined Contribution Scheme, thereby easing the escalating fiscal stress on the Government on account of rising pension liabilities. In 2009 different Schemes under the flagship of National Pension System regulated by PFRDA under the private sector and unorganised sector.

2. The National Pension System (NPS) has been arguably hailed as one of the best designed pension products domestically with its several unique features like full portability across jobs and geographical jurisdictions, choice of investment options to suit different risk appetites, option to choose from among several fund managers, no entry or exit loads, and perhaps the lowest fund management charges in the world. It is also regulated by a dedicated regulator.
3. The passage of the PFRDA Act in September 2013 followed by notification of the Act on 1st February 2014 marks an important milestone in the history of the Pension Sector reforms as the Act provides an overarching mandate to the PFRDA for promotion and development of old age security in India. In light of the paradigm shift in the pension landscape in the country, it is imperative to review the progress of NPS so far and realign the existing policy framework for Pension Funds within the mandate of the Act.

4. The NPS adopted a direct selling model to keep the costs low and to avoid the urge to mis-sell due to the embedded commissions. This distributor-free and agent-free model was designed to protect the individual and to maximise the pension wealth. It was adopted even at the risk of a slow start. The NPS architecture has been designed to create an enabling environment for the citizens to save for retirement.

5. Additionally, NPS also provides flexibility to subscribers where they can switch their pension funds among three options, i.e. equity, corporate bonds and government securities. They can also change their fund managers if they are not satisfied with the performance of Pension Funds.
B. Need of Revamping
• It is more than 12 years under NPS Govt. Sector and 6 (six) ) year since NPS was introduced in the market to cater to the retirement needs of Private Sector/Unorganised Sector subscribers.
• The NPS has made noticeable progress from the time of its inception, on boarding about 1 Crore subscribers with a total AUM exceeding 100000 crores by Dec 2015, with only 12% of the workforce covered by any kind of old age security in India, there is thus a huge untapped potential for NPS to expand. However, this would require multipronged approach with co¬operation of multiple stakeholders including Central Government, State Governments, Autonomous bodies, trade bodies, Regulators and many more.
• Besides the expansion in coverage, the provision of old age income security also entails working towards adequacy of income post working life, which can be done by optimizing returns through appropriate investment guidelines. While devising the investment guidelines, the interest of the subscriber is to be kept paramount, balancing the security aspect with adequacy of returns. While returns on investment under DC scheme cannot be guaranteed, it is important to frame guidelines, which enable the pension funds to deliver good real rate of returns to the subscriber for meaningful old age income security, which cannot be done with overload of fixed income securities. Hence, an enabling environment is required to be created for the Subscriber to maximize his/her returns depending upon his/her risk appetite.
• The fiscal stimulus being provided by the Government each year through its budget announcements are a major boost to the NPS , propelling the built up of a pensioned society.
• The experience gained since last more than decade this has been quite obvious that the NPS system has a well laid out architecture, it has been able to draw enough attention from the individual subscribers by very little marketing and publicity. It is also perceptible that investor awareness towards the various financial products has grown to the extant where subscribers can decide about the mix of asset class and Pension Fund and change the same as per its discretion.

PROVIDING OPTION OF MORE LIFE CYCLE FUNDS TO THE NPS
SUBSCRIBERS

1. The Expert Committee headed by Shri G. N. Bajpai was constituted in September 2014 to review investment guidelines for NPS in Private Sector with various terms of reference. One of the TORs was to reviewing the default scheme viz Life Cycle Fund.

2. The recommendations of EXPERT COMMITTEE TO REVIEW INVESTMENT GUIDELINES FOR NPS SCHEMES IN PRIVATE SECTOR handed over its report to PFRDA. The committee has given following deliberation on the said TOR as below:
“On the road to Prudent investor regime, the Regulator may, in the interim allow introduction of a few new schemes to test the risk appetite of the subscribers and build their confidence in asset classes perceived to be riskier viz Equity through the life Cycle fund approach. While the existing life cycle Fund shall continue to be the one with maximum investment in equity pegged at 50% (option LC50), more life cycle funds (at least two more to begin with) may be introduced keeping the core principle of “decreasing risk appetite with increasing age” intact with lower and higher ceilings in Equity to cater to both conservative subscriber and subscriber with a higher risk appetite.”
3. Further, one of the measure suggested by the said committee is to shift away from the fixed income fixated investment pattern and allowing more play to pension fund managers in equity, as a part of first phase to move to Prudential investor regime:-
“Allowing floating of life cycle funds with equity cap at 75%”.

4. Presently, NPS provides Life Cycle Fund option to the NPS subscriber with equity allocation up to 35 years is 50%. The agewise allocation of the Fund in these two Life Cycle Fund across the asset class `E’ , ‘C’ and `G’ is as under:-
Table:-1
nps-table1


38 years 44% 27% 29%
39 years 42% 26% 32%
40 years 40% 25% 35%
41 years 38% 24% 38%
42 years 36% 23% 41%
43 years 34% 22% 44%
44 years 32% 21% 47%
45 years 30% 20% 50%
46 years 28% 19% 53%
47 years 26% 18% 56%
48 years 24% 17% 59%
49 years 22% 16% 62%
50 years 20% 15% 65%
51 years 18% 14% 68%
52 years 16% 13% 71%
53 years 14% 12% 74%
54 years 12% 11% 77%
55 years 10% 10% 80%

1. In view of the para 2 & para 3 above, we have designed two more Life Cycle Fund may be called as “Aggressive Life Cycle Fund” with equity allocation of 75% at the age of 35 years and “Conservative Life Cycle Fund” with equity allocation of 25% at the age of 35 years. The proposed agewise allocation of the Fund in these two Life Cycle Fund across the asset class ‘E’ , ‘C’ and ‘G’ is as under:-

Table:-2
Aggressive Life Cycle Fund
Age Asset Class E Asset Class C Asset Class G
Up to 35 years 75% 10% 15%
36 years 71% 11% 18%
37 years 67% 12% 21%
38 years 63% 13% 24%
39 years 59% 14% 27%
40 years 55% 15% 30%
41 years 51% 16% 33%
42 years 47% 17% 36%
43 years 43% 18% 39%
44 years 39% 19% 42%
45 years 35% 20% 45%
46 years 32% 20% 48%
47 years 29% 20% 51%
48 years 26% 20% 54%
49 years 23% 20% 57%
50 years 20% 20% 60%
51 years 19% 18% 63%
52 years 18% 16% 66%
53 years 17% 14% 69%
54 years 16% 12% 72%
55 years 15% 10% 75%

Table:-3
Conservative Life Cycle Fund
Age Asset Class E Asset Class C Asset Class G
Up to 35 years 25% 45% 30%
36 years 24% 43% 33%
37 years 23% 41% 36%
38 years 22% 39% 39%
39 years 21% 37% 42%
40 years 20% 35% 45%
41 years 19% 33% 48%
42 years 18% 31% 51%
43 years 17% 29% 54%
44 years 16% 27% 57%
45 years 15% 25% 60%
46 years 14% 23% 63%
47 years 13% 21% 66%
48 years 12% 19% 69%
49 years 11% 17% 72%
50 years 10% 15% 75%
51 years 9% 13% 78%
52 years 8% 11% 81%
53 years 7% 9% 84%
54 years 6% 7% 87%
55 years 5% 5% 90%

• Further, the existing Default Life Cycle ( LC 50 ) can be made more dynamic , reviewing the ECG pattern as per the market conditions.
• Another Life Cycle fund with Alternative asset class with a cap of 5 % can also be introduced.

Note: Comments may be offered vide e-mail on sumeet.kapoor@pfrda.org.in or in hard copy to the below address-
To,
Ms. Sumeet Kaur Kapoor
Pension Fund Regulatory and Development Authority 1st Floor, Chatrapati Shivaji Bhawan
B-14/A, Qutub Institutional Area
New Delhi-110016

Flash News

Drastic Reduction of Dearness Allowance (DA) to Central Government Employees, Opted in 7th Pay Scale

Drastic Reduction of Dearness Allowance (DA) to Central Government Employees, Opted in 7th Pay Scale Dear friends, As you are awa...