Seventh Pay Commission Report Latest News
Railway budget has been announced 25th February by Railway minister Suresh Prabhu. He was determined to offer more amenities and incentive to the passengers. The railway is already running short of funding and in need of funds for capacity augmentation projects, new trains, track maintenance and extra tracks, development of robust technology to curb mishaps.
It was a stiff situation for the railway ministry as it was not in favor of increasing fare freight charges at the current juncture.
The Railway budget was to be prepared by keeping financial burden to be imposed by impacts of 7th Pay Commission. Indian economy is also tepid due to the worldwide recession.
The Budget needed an action plan to combat these two financial crunches. The impact of CPC has been dealt with deftly without increasing fares or freight charges. It needs Rs 12,000 crore extra for CPC liabilities. The budget has made provision for Rs 1,23,560 crore as the Ordinary Working Expenses which will be used for paying salaries, pension bill and fuel charges and that can make provision for extra pay due to CPC.
What allowances are to be paid is yet to be finalized by the government. It will be addressed when it is announced. It can pay arrears in parts.
Suresh Prabhu and his finance wizards have proved their mantle in preparing railway budget and have been able to satisfy the public expectations at large.
More Searching Terms:
- 7th Pay Commission Report for Pensioners
- Seventh Pay Commission for Central Govt Employees