Dr. Urjit R. Patel - Governor, Reserve Bank of India has said in a media conversation has made following observations in respect of Central Government employees which is published in Reserve Bank of India website:
1) The disbursement of salaries and arrears under the 7th Pay Commission award has not been disruptive to inflation outcomes.
2) The extension of two months given to the Ministry of Finance to receive the notification on higher allowances under the Commission’s award, could push its fuller effect into the next financial year rather than this financial year.
The above statement by the Governor, Reserve Bank of India clearly indicates the following:
A) The 7th CPC effect on the Government expenditure is minimal and doesn’t have any impact on the inflation and prices and there is scope for further improvement in fitment formula provided the Government is ready to consider the staff side demands.Only struggle is only the solution for the Central Government employees to get our main demands resolved such as revision of fitment formula and allowances.
B) The allowances will be revised only after February 2017 and come into effect in next financial year.
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