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The Hindu
2 days ago
- Business
- The Hindu
George Town redevelopment plan of CMDA on hold
The George Town Local Area Plan (LAP), launched by the Chennai Metropolitan Development Authority (CMDA) under the Atal Mission for Rejuvenation and Urban Transformation (Amrut), has reportedly hit a roadblock due to land acquisition hurdles, according to official sources. 'The concept of a Local Area Plan is similar to urban renewal,' said K. P. Subramanian, retired Professor of Urban Engineering, Anna University. 'George Town is an ideal candidate due to its narrow roads, out-dated land use pattern, inadequate basic amenities, and non-high- buildings not commensurating with the increasing land value. But current status of this plan is unknown,' he added. The LAP was proposed to ease congestion, structural dilapidation, outdated land use patterns, narrow streets, and inadequate infrastructure. When asked about the current status, senior authorities with the State government said that there has been resistance from long-term residents and traders to redeveloping George Town — one of Chennai's oldest and densest quarters — and that there may be a need for another round of consultations. Notably, initial talks with locals were held in 2022. Documents on the CMDA website show that the LAP was conceived as early as 2006. Minutes of the 215th and 217th CMDA Authority Meetings, both held in 2006 show there was progress — including consultations with stakeholder groups such as the Gunny Bag Merchants Association and iron and steel goods traders — and allocation of funds, though without specifying how much, from the Planning and Development Fund to support LAP preparation. A Terms of Reference (ToR) document dated December 13, 2023 detailed the methodology, scope, and deliverables for in-house preparation of LAPs, aimed at improving land use, infrastructure, and urban form in high-pressure zones. As per this ToR, LAP project was to begin with a GIS-based base map, followed by field surveys on land use, building conditions, infrastructure, and transport. A vision statement was to be developed through stakeholder consultations, leading to proposals on zoning, roads, infrastructure, mobility, and open spaces, along with cost estimates and an implementation strategy. The focus on this project emerged after the CMDA initiated consultations to redevelop 12 kilometers of Anna Salai and 10 kilometers of Old Mahabalipuram Road (OMR) under an LAP project. According to a document shared by the CMDA, the LAP will focus on a 12.5-kilometre stretch between Omandurar Government Estate Junction and Kathipara Junction along Anna Salai and a 10 km stretch from SRP Tools Junction to Sholinganallur along OMR.
India.com
2 days ago
- Business
- India.com
8th Pay Commission Big Breaking: Modi government breaks silence on Salary hike, says implementation would be taken up once…, Finance Ministry plans to…
8th Pay Commission update: Will salary of government employees increase three times? Know all details 8th Pay Commission: Addressing the concerns of lakhs of Central government employees and pensioners over the 8th pay panel, the Modi government on Monday said that the appointment of members and the chairperson would be finalised once the commission is notified by the government. It is important to note that the 8th Pay Commission is pending since the finance ministry is yet to finalise the Terms of Reference (ToR), which will form the basis for the revision in salaries and pensions for over 1 crore central government employees and pensioners. Minister of State in the Ministry of Finance Pankaj Chaudhary, in the Lok Sabha, replied to queries raised by parliamentarians T R Balu and Anand Bhadauria. Members asked the government whether it has notified the 8th Pay Commission which was announced in January 2026. They also questioned the reasons for not setting up the 8th pay panel even after lapse of six months of announcing the commission. Ministry of Finance Pankaj Chaudhary in Parliament: Chaudhary said, 'It has been decided by the government to constitute the 8th Central Pay Commission (CPC). Inputs have been sought from major stakeholders, including Ministry of Defence, Ministry of Home Affairs, Department of Personnel & Training and from states.' According to a recent report by Ambit Capital, the new pay structure could lead to a 30–34 percent hike in overall remuneration, impacting over 1 crore employees and retirees nationwide. Some of the key allowances that central government employees get are house rent allowance (HRA), transport allowance (TA) and child education allowance (CEA). Curious about how these revisions may look for employees in Grade Pay levels 2400, 4200, 4800, 7600, and 8700 under 1.92x and 2.57x fitment factors? Check out our projections for a detailed breakdown: At 1.92 fitment factor Revised basic pay: Rs 54,528 HRA: Rs 13,086.72 TA: Rs 3,600 Gross salary: Rs 71,214.72 NPS: Rs 5,452.80 CGHS: Rs 250 Net salary: Rs 65,511.92 At 2.57 fitment factor Revised basic pay: Rs 72,988 HRA: Rs 17,517.12 TA: Rs 3,600 Gross salary: Rs 94,105.12 NPS: Rs 7,298.80 CGHS: Rs 250 Net salary: Rs 86,556.32 At 1.92 fitment factor Revised basic pay: Rs 73,152 HRA: Rs 17,556.48 TA: Rs 3,600 Gross salary: Rs 94,308.48 NPS: Rs 7,315.20 CGHS: Rs 250 Net salary: Rs 86,743.28 At 2.57 fitment factor Revised basic pay: Rs 97,917 HRA: Rs 23,500.08 TA: Rs 3,600 Gross salary: Rs 1,25,017.08 NPS: Rs 9,791.70 CGHS: Rs 250 Net salary: Rs 1,14,975.38 At 1.92 fitment factor Revised basic pay: Rs 1,12,512 HRA: Rs 27,002.88 TA: Rs 3,600 Gross salary: Rs 1,43,114.88 NPS: Rs 11,251.20 CGHS: Rs 650 Net salary:Rs 1,31,213.68 At 2.57 fitment factor Revised basic pay: Rs 1,50,602 HRA: Rs 36,144.48 TA: Rs 3,600 Gross salary: Rs 1,90,346.48 NPS: Rs 15,060.20 CGHS: Rs 650 Net salary: Rs 1,74,636.28 At 1.92 fitment factor Revised basic pay: Rs 1,53,984 HRA: Rs 36,956.16 TA: Rs 7,200 Gross salary: Rs 1,98,140.16 NPS: Rs 15,398.40 CGHS: Rs 650 Net salary: Rs 1,82,091.76 At 2.57 fitment factor Revised basic pay: Rs 2,06,114 HRA: Rs 49,467.36 TA: Rs 7,200 Gross salary: Rs 2,62,781.36 NPS: Rs 20,611.40 CGHS: Rs 650 Net salary: Rs 2,41,519.96 At 1.92 fitment factor Revised basic pay: Rs 1,85,472 HRA: Rs 44,513.28 TA: Rs 7,200 Gross salary: Rs 2,37,185.28 NPS: Rs 18,547.20 CGHS: Rs 650 Net salary: Rs 2,17,988.08 At 2.57 fitment factor Revised basic pay: Rs 2,48,262 HRA: Rs 59,582.88 TA: Rs 7,200 Gross salary: Rs 3,15,044.88 NPS: Rs 24,826.20 CGHS: Rs 650 Net salary: Rs 2,89,568.68 (Disclaimer: These are projections. Actual revised amounts may vary.) Ambit Capital estimates that the fitment factor for the 8th Pay Commission could be in the range of 1.83 to 2.46. This implies that the minimum salary, currently at Rs 18,000, could increase to Rs 32,940 (at 1.83) or even Rs 44,280 (at 2.46).
Time of India
15-07-2025
- Business
- Time of India
India in wait and watch mode: Official on possible impact of Trump tariffs from August
India can consider a plan to deal with the impact of the US tariffs only after assessing the full effect of these duties, scheduled to come into effect from August 1, and until then, the government will remain in a wait-and-watch mode, a senior official said on Tuesday. The official added that the Indian team is in Washington for the fifth round of negotiations on the proposed bilateral trade agreement (BTA). "Any backup or plan has to be prepared after we know the full effect of US tariffs. Today on July 15, we are not in a position to guesstimate the differential tariff that is going to play out on August 1. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Nhà tiền chế 2025: Lựa chọn nhà ở giá rẻ (Tìm hiểu thêm) Prefabricated Homes Tìm hiểu thêm Undo "We have got tariff numbers for about 25 US has announced that they are going to do trade deals in two weeks. So, what do these deals lead to, and what will be the final spectrum of tariffs that will be rolled out on August 1, without understanding that, it will be very difficult to plan for a contingency plan. So that is something we need to wait and watch," the official said. The government official was replying to a question whether India is preparing any backup plan to deal with the impact of Trump tariffs. Live Events In February, India and the US announced that the two countries would negotiate a BTA. The two have fixed a deadline to conclude the first phase of the pact by fall (September-October) of 2025. In March, both sides finalised the Terms of Reference (ToRs) of the agreement. After that, there were two rounds of discussions in April and June. Negotiators also met in early July. The fifth round of talks started on Monday. India's chief negotiator, Special Secretary Rajesh Agrawal will be joining the team on Wednesday. The talks are expected to continue till Thursday. These negotiations come in the midst of US President Donald Trump issuing letters to individual countries and economic blocs notifying them of the tariffs the US will impose on their shipments to America after August 1. While unilaterally imposing tariffs, the US has left the door open to negotiations for all the recipients. The US has sent letters to 24 countries and the European Union (EU). "We need not worry much. We should wait for it (US duties) to play out and as soon as it plays out, the government can come out with something to see what best needs to be done for the country," the official said. On whether India has a differential tariff advantage over other countries, the official said at present, there is a 10 per cent baseline tariff line across the world, except for China, which has an additional 40 per cent Fentanyl tariff. So that is the only differential, a country has today. China has got a higher tariff vis-a-vis others. In addition, there are sectoral tariffs on iron, steel (50 per cent) and auto components (25 per cent). "If you look at tariffs today, other than China, there are only announcements of tariffs. So, relative positions have not changed much. Despite that India is doing well in exports," another official said, adding that whether the differential tariffs come into play from August, one does not know. "That is something we need to wait and watch. We are in the same boat as others," the official said.
Business Recorder
15-07-2025
- Business
- Business Recorder
Consensus on Discos' sell-off: Working group formed for FA-stakeholder coordination
ISLAMABAD: The government has constituted a working group intended to coordinate with relevant stakeholders and the Financial Advisors to achieve consensus on the privatisation process of power Distribution Companies (Discos), well informed sources told Business Recorder. In the first phase, the government is fast-tracking efforts to privatise three Discos— Islamabad Electric Supply Company (IESCO), Gujranwala Electric Power Company (GEPCO), and Faisalabad Electric Supply Company (FESCO) — with the goal of completing the process by the end of calendar year 2025. Financial Advisors, Alvarez & Marsal Middle East, has given the sectoral due diligence report. The Working Group comprised of Abdul Basit Abbasi, Consultant, Privatisation Commission – (Convener), Sajid Akram, Director General, NEPRA, Umer Haroon, Independent System and Market Operator (ISMO), Umair, Senior Manager, CPPA-G, Salman Rehman, Director, NEPRA, Abdul Moiz Khawaja, Additional Joint Director SECP, Consultant, Power Division, nominee, Power Planning and Monitoring Company, nominee, CPPA-G, nominee, NEPRA DISCO's team and nominees, Financial Advisor. Discos' sell off: 'Turkish model' under consideration The Working Group will hold its first meeting on July 26, 2025 in the Ministry of Privatisation. According to the Terms of Reference (ToRs), Working Group in furtherance of section 5(f), 5(g), and 5(t) of the Privatisation Commission Ordinance, 2000, the Chairman of the Privatisation Commission, is pleased to constitute a Working Group (WG) to address and resolve key issues identified in the Financial Advisor's Sector Due Diligence (DD) report concerning government-owned Power Distribution Companies whereby the regulatory framework in which privatization will proceed will be studied to form the basis of policy, regulatory and/or administrative decisions required to be taken by the Federal Government before privatization. The Working Group will coordinate with relevant stakeholders and the Financial Advisor to achieve consensus and provide recommendations on the following matters:(i) Bifurcation of Retail and Wire Business - recommendations with respect to bifurcation of retail and wire business and ancillary regulatory matters, such as licensing, dispatch and settlement processes, optimum tariff and subsidy regimes etc; (b) examination of legal and technical issues concerning housing societies and industrial zones, and their corresponding impact on the valuation and operations of DISCOs; (c) NEPRA's deliberation to unbundle Distribution and Supply businesses; and (d) any other relevant and related matter. Uniform Tariff and Industrial Cross-Subsidy Framework: Evaluation of the impact of the uniform tariff and existing cross-subsidies on DISCO valuation and recommendations for way forward. Review of the Multi-Year Tariff (MYT) Framework will include (a) assessment of whether the current MYT and associated indexation mechanisms require revision, based on Financial Adviser's feedback; and (b) MYT revision window at the time of the transaction. Supplier of Last Resort (SoLR) Licencing: (a) analysis of the merits and demerits of issuing competitive supplier licenses to the SOLR from the perspective of potential investors; and (b) CTBCM status and future evolvement plans, possible future business combinations and changes to DISCOs business perimeter over time (Distribution/SOLR/CS). Review of transition from current wholesale market to retail market trading: total quantum of power to be allocated to the wholesale market over the next five years and a clear roadmap for transition, review the details w.r.t. annual allocation and mechanism of award, including criteria, bidding processes (if any), and regulatory approvals. Mechanism to ensure investment and efficiency improvement post privatisation: (a) determine commitments to be required from prospective investors - particularly investment in infrastructure and efficiency enhancement; to align with and support the Government's privatization objectives and proposed transition in power market structures ; and (b) propose a mechanism to ensure that post-privatization, the required investments, efficiency gains, and service delivery improvements are effectively achieved. This should include considerations for enforceability, regulatory oversight, investor confidence, and balanced risk allocation. Copyright Business Recorder, 2025
News18
13-07-2025
- Business
- News18
8th Pay Commission: What Is The 12-Year Commuted Pension Demand And Why It Matters
Last Updated: The Centre announced the 8th Pay Commission for over 1 crore employees and pensioners. What the report says on the expected implementation timeline. 8th Pay Commission: The 8th Pay Commission is likely to take effect from January 1, 2026, paving the way for a salary hike for lakhs of central government employees and pensioners. The government announced the 8th Pay Commission on January 16, 2025. However, the formal appointment of its chairperson, members, and the issuance of detailed Terms of Reference (ToR) are yet to be finalised. Other than that, employees and pensioners have a major pending demand for the upcoming 8th pay commission. They are hoping that the commission will reduce the commuted pension to 12 years from 15 years, offering a big relief against the rising medical and inflationary costs. The National Council (JCM) – Staff Side, which represents central government employees, has sent a list of demands to the government, according to a report of Financial Express. The 12-year restoration is one of the top issues in that list. This point was also raised during the SCOVA (Standing Committee on Voluntary Agencies) meeting held on March 11, 2025, which was chaired by the Minister of State for Personnel. What Is Commuted Pension? At the time of retirement, employees have the flexibility to take a portion of their monthly pension in a lump-sum amount. The government will then deduct that portion from their pension every month to recover the amount. This is called commutation. Right now, the deduction continues for 15 years, after which the full pension is restored. Why Is There A Demand To Reduce To 12 Years? Unions and Pensioners argue that 15 years is too much given the rising medical costs and living expenses. With the drop of interest rates, retirees, they argue, lose a good part of their pension money. view comments First Published: July 13, 2025, 14:26 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
