7th Pay Commission Pay Arrears from January 2016
Latest 7th Pay Commission News – 75% of implementation cost budgeted – Provision to be made for 7th Pay Commission Pay Arrears from January 2016
Prime Minister Mr. Narendra Modi’s government has budgeted to meet nearly three-fourths of the estimated cost of the 7th Pay Commission report in 2016-17 with a provision of some Rs 53,500 crore, as it deferred the payment of extra allowances of about Rs 22,000 crore.
The budgetary outlay for salaries and pensions rose by Rs 59,000 crore or 21% to Rs 3.36 lakh crore in FY17, while the pay panel had pegged the annual hike in the outlay for pay, pension and allowances from the business-as-usual scenario at Rs 73,650 crore.
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