Latest news with #TermsofReference
News18
a day ago
- Business
- News18
8th Pay Commission: Minimum Basic Pay Likely Rs 30,000, Not Rs 51,000, Says New Report
Around 50 lakh central government employees and 65 lakh pensioners who were hoping for a major hike in basic pay might be in for a disappointment. A new analysis by Kotak Institutional Equities has thrown cold water on the widespread expectation that the minimum basic salary would triple under the 8th Pay Commission. (News18 Hindi) The key figure here is the fitment factor, the multiplier used to convert current salaries to the revised pay structure. While the 7th Pay Commission used a factor of 2.57, the 8th Pay Commission is now expected to apply a more conservative multiplier of 1.8. That would lift the base salary from Rs 18,000 to Rs 30,000, not the Rs 51,000 many employees were hoping for. Employees may be shocked by this new possibility, the report states bluntly. (News18 Hindi) Even this limited increase won't happen anytime soon. Though the 8th Pay Commission was formally announced in January 2025, the Terms of Reference (ToR) haven't been finalised, nor have commission members been appointed. According to Kotak's timeline, the commission's report will take 18 months, followed by another 3 to 9 months for government approval and implementation. That means employees shouldn't expect any salary revision before late 2026 or early 2027. (News18 Hindi) Despite the restrained hike, implementing the 8th Pay Commission is expected to cost the exchequer between Rs 2.4 lakh crore to Rs 3.2 lakh crore, which is 0.6% to 0.8% of GDP, according to the report. The lion's share of this benefit will go to Grade C employees, who make up 90% of the central government workforce. (News18 Hindi) Historically, pay commission hikes have boosted sectors like automobiles, consumer goods, and real estate. This time too, a similar trend is expected. Kotak projects that the revised salaries could drive additional savings of Rs 1 to Rs 1.5 lakh crore, with increased investments in stock markets, bank deposits, and physical assets. (News18 Hindi) On July 21, 2025, Minister of State for Finance Pankaj Chaudhary confirmed in Parliament that the groundwork for the 8th Pay Commission has begun. He said the ministry has already sought inputs from key departments including Defence, Home Affairs, Personnel, and various states. (News18 Hindi) The Centre typically sets up a new pay commission every decade to adjust public sector salaries and pensions in line with inflation and rising costs. The 7th Pay Commission came into effect in 2016. The 8th will likely land right on cue, but with far more tempered expectations. (News18 Hindi)
Hans India
3 days ago
- Business
- Hans India
India, Maldives to boost bilateral cooperation in fisheries and aquaculture
New Delhi: The memorandum of understanding (MoU) between India and the Maldives to enhance bilateral collaboration in the fields of fisheries and aquaculture aims to promote sustainable tuna and deep-sea fisheries, strengthen aquaculture and sustainable resource management, foster fisheries-based eco-tourism, and support innovation and scientific research across both the countries, the government said on Saturday. The Department of Fisheries and the Ministry of Fisheries and Ocean Resources of the Maldives have signed an MoU to enhance bilateral collaboration in the fields of fisheries and aquaculture. The MoU is part of six MOUs exchanged between India and Maldives during Prime Minister Narendra Modi's state visit to the island nation, according to Ministry of Fisheries, Animal Husbandry and Dairying. Key areas of collaboration outlined in the MoU include value chain development, mariculture advancement, trade facilitation, and capacity building within the fisheries sector. As part of this initiative, the Maldives will scale up its fish processing capabilities by investing in cold storage infrastructure and strengthening the aquaculture sector through hatchery development, improved production efficiency, and the diversification of cultured species. The collaboration also will facilitate training and knowledge exchange programs, with a focus on capacity building in aquatic animal health, biosecurity screening, aquaculture farm management, and specialised technical fields such as refrigeration, mechanical engineering, and marine engineering to support long-term skills development within the sector. According to the ministry, the cooperation reflects the shared vision of India and Maldives to build a more resilient, innovative, and sustainable future for the fisheries industry. Several agreements across diverse sectors were signed which reaffirmed the bilateral partnership between India and Maldives. These include agreement for a Line of Credit (LoC) of Rs 4,850 crore to the Maldives; amendatory agreement on reducing annual debt repayment obligations of the Maldives on Indian government-funded LoCs; to launch the India-Maldives Free Trade Agreement (FTA)-Terms of Reference; MoU on cooperation in the field of Fisheries and Aquaculture; MoU between the Indian Institute of Tropical Meteorology (IITM), Ministry of Earth Sciences and the Maldives Meteorological Services (MMS), Ministry of Tourism and Environment; and an MoU on cooperation in the field of sharing successful digital solutions implemented at population scale for digital transformation, among others.
Scoop
5 days ago
- Politics
- Scoop
Western Bay Councillors Push Back Against New Subcommittee Rammed Through Without Approval
'This isn't team-building. It's a power grab.' Western Bay of Plenty District Councillors are speaking out against the creation of a new SmartGrowth Subcommittee in the Bay of Plenty, established without any formal vote or approval from elected members across all three affected councils. The subcommittee includes just six people: The Mayor of Tauranga The Mayor of Western Bay of Plenty The Chair of Bay of Plenty Regional Council The Chair of the Combined Tangata Whenua Committee A rotating Mana Whenua representative Any co-opted members chosen by the mayors and chairs So, what's missing? Any mandate. Any scrutiny. And nearly every other elected councillor. Councillors Raise Red Flags Western Bay councillors voiced strong opposition, raising the following issues on record: The subcommittee was formed without councillor approval Councils were not consulted on the Terms of Reference The Terms are vague and lack clear limits on decision-making There is no defined reporting structure back to councils The subcommittee consolidates power into a "small tight group" This approach is 'pulling power away from democracy,' in the words of several councillors Rodney Joyce, current councillor and candidate for Western Bay Mayor, put it bluntly: 'This is not how democracy works.' Don Thwaites, another mayoral contender, warned: 'If the Mayor of Tauranga is negotiating capital gains tax or congestion charging with central government, I don't want to see it happening in a secret little group.' Statement from Erika Harvey, Lobby for Good 'This isn't efficiency, it's exclusion. We're seeing the same pattern across the country with insiders shaping decisions behind closed doors, then presenting them as done deals. When elected councillors are cut out of the process entirely, it doesn't matter what the policy is, it's a democratic failure. This SmartGrowth subcommittee was formed without a single vote from elected members. That should alarm anyone who believes in local representation.' Lobby for Good is now calling for urgent clarity from SmartGrowth and the three councils involved. Specifically: Who authorised the creation of this subcommittee without councillor approval? What decisions is this unelected subcommittee empowered to make? Why were the Terms of Reference not put to elected members for debate or amendment? Will any minutes, agendas, or decisions be made public? How will this structure affect public accountability, transparency, and democratic representation? Does this reflect a broader pattern of decision-making being centralised into insider groups, as we've seen with the Water Done Well process? A Familiar Pattern: Public Excluded, Power Concentrated This move closely mirrors concerns raised in other areas of local governance that we are hearing from across the country, where decisions are increasingly being shaped behind closed doors, then handed down to councillors and the public with limited time or transparency.
The Hindu
21-07-2025
- 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
21-07-2025
- 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).
