7th Pay Commission report may be submitted in this Year – Finance Minister indicates in his reply to a query in Parliament
As per reports quoting UNI (United News of India) published in dayandnightnews.com, Finance Minister Mr. Arun Jaitley has indicated while replying to a supplementary query in Lok Sabha that 7th Pay Commission report is likely to be submitted this year.
Earlier documents provided by Govt such as Medium Term Fiscal Policy, Fiscal Road Map etc in Budget 2015-16, indicated that 7th Pay Commission Report would impemented in the fiscal year 2016-17.
Report of dayandnightnews.com on likely submission of 7th Pay Commission report is as follows
The recommendations of the 7th Pay Commission on pay revision of the central government employees is expected to be submitted to the government this year, the Lok Sabha was today informed.
Responding to a supplementary, Finance Minister Arun Jaitley said, ”Additional Tencent revenue share for the state being provided by the Centre from this year and the recommendations of the pay commission– that are expected to be made this year– are bound to put additional burden on the fiscal situation.”
“Keeping this in mind, we have opted to extend the deadline from two to three years for attaining the targeted mark of fiscal budgetary deficit,” he said.
Presently, the government’s annual income is around Rs 11.5 lakh crore against the expenditure of around Rs 17.5 lakh crore leaving a budgetary deficit of about Rs 5 lakh crore. – UNI