7th Pay Commission: Govt allocates Rs 70,000 crore for its implementation
The Government of India has allocated Rs 70,000 crore for the implementation of 7th Pay Commission for government employees in the Union Budget 2016-17.
Around Rs 70,000 crore has been provisioned in the Union Budget 2016-17 for the implementation of the 7th Pay Commission for government employees, The Indian Express newspaper reported on Monday quoting a Finance Ministry official as saying.
While there’s no explicit overall provision number, the government had said the 7th Pay Commission hike has been built in as interim allocation for different ministries, the news report said.
“We have provisioned for around 60-70% of the total burden that was talked about,” a Finance Ministry official said.
The report citing the Budget document said, "the implementation of the 7th Pay Commission due from January 1, 2016, is to be implemented during 2016-17 fiscal as also the revised One Rank One Pension (OROP) scheme for Defence services."
The Finance Ministry has provisioned for this in the Demands for Grants for individual departments and ministries, it said.
The government had earlier decided to set up a high-powered panel headed by Cabinet Secretary Pradeep Kumar Sinha in January this year to process the recommendations of the 7th Pay Commission, ZeeBiz reported earlier this month.
The 7th Pay Commission is likely to give relief to several lakhs of government employees as it will revise the remuneration of around 47 lakh central government employees and 52 lakh pensioners.
The Empowered Committee of Secretaries will function as a Screening Committee to process the recommendations with regard to all relevant factors of the Commission in an expeditious detailed and holistic fashion.