Apr 24, 2018

Railway Ministry Entity To Raise Rs 40 Billion For Station Redevelopment



The first phase of the railway ministry’s Rs1-trillion station redevelopment plan is set to take off soon. Indian Railway Stations Development Corporation (IRSDC) is likely to raise about Rs40 billion from the markets for upgrading at least 50 stations.

The nodal agency in this regard, it will become the second entity under the ministry, after arm Indian Railway Finance Corporation (IRFC) to raise money from the markets. The ministry decided to redevelop stations by itself through IRSDC, under an engineering, procurement and construction (EPC) model, after getting only a tepid response from private entities when bids were invited for 21 stations.

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Will 2019 General Election Bring Good News To Govt Employees’ Minimum Pay, Fitment Factor Issue



Will 2019 general election bring good news to govt employees’ minimum pay, fitment factor issue – Will 7th Pay Commission will be implemented in toto with Govt employees representations

The government has not made any proposal on withdrawal of discussions in regards to hike in minimum pay scale and fitment factor.

The struggle of 48 lakh central government employees over their minimum pay and fitment factor hike beyond 7th CPC report recommendation has continued for nearly two years now. These employees feel hard done by especially as FM Arun Jaitley had promised to give due consideration to their issue at official venues. However, government employees are still hoping for an increase in the fitment factor and minimum pay, despite the fact that the government has said it is not thinking along those lines at all. The hope are pinned to a list of development taken by government, which leads directly or indirectly to 7CPC drawing attention of all concerned to the matter.

CGHS Online Appointment Booking At Wellness Centre



CGHS Online Appointment Booking at Wellness Centre – Good News for the CGHS cardholders – The Hindu News

Here is good news for Central government pensioners. Full-fledged online appointment has been restored at the CGHS Wellness Centre, located on the premises of the Government Hospital for Mental Care, with effect from April 16, according to T.K. Bhagavanudu, CGHS cardholder and pensioner, who has been fighting for the cause since long.

States Like Bihar, UP, Chattisgarh, MP, Rajasthan Keeping India Backward: NITI Aayog CEO



NITI Aayog CEO Amitabh Kant on Tuesday said that the reason why India is backward is because of the states like Bihar, Uttar Pradesh, Chattisgarh, Madhya Pradesh and Rajasthan. “Eastern part of India particularly states like Bihar, UP, Chattisgarh, MP and Rajasthan is keeping India backward especially on social indicators,” he told ANI.

Kant’s statement comes at the first Khan Abdul Gaffar Khan Memorial Lecture at Jamia Millia Islamia University

7th Pay Commission – HRA Impacts Inflation By 35bps : RBI Staff Study



Increase in HRA by the Centre from July 2017, pushed up housing inflation significantly with concomitant impact on headline inflation according to an RBI staff paper. An analysis of CPI by the authors shows that the 7th pay commission’s HRA increase pushed up headline inflation prints gradually from July 2017, with a peak impact of about 35 bps.

According to the paper under the series ` Mint street memos’. Increase in HRA by the central government from July 2017, pushed up housing inflation significantly and in turn headline inflation. Since the middle of last year, revision in house rent allowance (HRA) for government employees, has pushed upward measured inflation. The paper first explains the method of housing index compilation and demystifies the way of assessing the impact of HRA on headline inflation. Second, it measures the progress of housing inflation before and after the increase by the 7th Central Pay Commission (CPC).

Your Bank Could Soon Charge You For ATM Transactions, Cheques & Cards


The tax department has asked country’s top lenders including State Bank of India, HDFC Bank, ICICI Bank, Axis Bank and Kotak Mahindra Bank to pay tax that could run into thousands of crores, on ‘free services’ provided to customers maintaining a minimum account balance, with retrospective effect.

Show cause notices have been issued by the Directorate General of Goods and Services Tax Intelligence (DGGST) and is likely to be made on other banks as well.

The tax will be levied for the last five years, the period for which past service tax cases can be opened, said a senior official aware of the details.

Apr 23, 2018

National Pension System Corpus Increases 38% To Rs 2.47 Lakh Crore

National Pension System corpus increases 38% to Rs 2.47 lakh crore – PFRDA chief said that the regulator is planning bring out a guaranteed annuity product for the pension fund customers.

The total assets under management (AUM) of the pension fund players — operating under the National Pension System (NPS) and regulated by the Pension Fund Regulatory and Development Authority (PFRDA) — have increased 38 per cent to Rs 2.40 lakh crore in 2017-18. PFRDA chairman Hemant Contractor said that the subscriber base of the industry has grown 37 per cent to 21.8 million and the new players who want to join the industry have to wait further as the government is yet to decide how to structure the 49 per cent foreign direct investment (FDI) that is allowed in the pension fund industry.

Apr 22, 2018

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