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The finance ministry is waiting for final inputs from key departments before sending the terms of reference for cabinet approval, paving the way for the commission’s formation.
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Former finance secretary Subhash Chandra Garg said that most possible pay hike could see the minimum salary double to a range between Rs 34,560 and Rs 37,440 per month
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Pay commissions have seen a rising difference between between maximum and minimum pay. While the difference had declined to 10.2 times by the fifth pay commission, it had increased to 11.4 times by the sixth pay commission and 12.5 times by the seventh pay commission
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With the constitution of the Eighth Central Pay Commission in 2025, increases in salary and pension expenditures for central government employees will start reflecting in the central budget from FY 2026-27.
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Despite demonetisation, earnings have improved in the third quarter for most of the companies. The concerns of muted growth have now faded, says Ravi Sundar Muthukrishnan, Head of Strategic Research at ICICI Securities.
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In this edition of CNBC-TV18's weekly show - Indianomics, Latha Venkatesh talks to leading economists on their outlook on the gross domestic product (GDP) growth this fiscal, after the government Friday released its advance estimate at 7.1 percent.
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India Nikkei's October manufacturing Purchasing Managers' Index (PMI) came in at 54.4. A considerable rise compared to September's 52.1. The index is at its highest level since Demcember 2014.
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Speaking to CNBC-TV18, Lalit Nambiar of UTI MF said that India continues to stand out amongst the Asian pack on back of strong growth momentum.
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The government has implemented the 7th Pay panel recommendation of a hike of 2.57 times in basic salary of employees with effect from January 1. It has paid about Rs 56,000 crore as wage arrears in August salary of employees.
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Strong public investment in roads, railways and inland waterways, and the boost to spending from the 7th Pay Commission‘s award, should improve industrial outlook.
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TVS will launch new products in collaboration with BMW by end of the current fiscal, says Arun Siddharth, VP - Marketing at the company.
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In an interview to CNBC-TV18's Latha Venkatesh, Sonia Shenoy and Anuj Singhal, Mayuresh Joshi of Angel Broking shared his reading and outlook on the market and also gave recommendations on various stocks.
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Demand for gold continues to be muted, but clear growth for diamond studded products is visible for Titan, says the company‘s CEO S Subramaniam. Demand is a concern across the industry.
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Speaking to CNBC-TV18, Axis Bank's MD & CEO Shikha Sharma says that while the mood in the economy has changed enormously, investments on ground will take time to change.
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Axis MF is underweight on IT sector, which has large exposure to global economies. Edgy growth rates as well as lowering guidance in IT are main concerns, says Jayesh Gopani of Axis Mutual Fund.
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The Emkay Confluence is aimed at assessing whether rural and urban discretionary spending has improved at the ground level and the likely future trajectory, says Dhananjay Sinha of Emkay Global Financial Services.
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The demand for gold in the domestic market is expected to pick up in the second half of 2016 after a dismal first half, they said.
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SBI's margins have been impacted due to slippages but are expected to improve with growth in advances, says Chairman Arundhati Bhattacharya.
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Reserve Bank of India (RBI) Governor Raghuram Rajan, who bows down next month, kept the repo rate unchanged at 6.50 percent at his final policy review on Tuesday after inflation hit a nearly two-year high.
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"Recovery on consumption will happen with seventh Pay Commission and One Rank One Pension (OROP) being implemented, which will trigger demand and bring the company more volumes," says Saugata Gupta, MD and CEO of Marico.
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"We have done our all our calculations, and spent only where it was necessary – social welfare programmes like MNREGA and crop insurance schemes; we are confident of maintaining the fiscal deficit target with these additionalities in expenditure," says Finance Secretary, Ashok Lavasa.
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Government has decided to pay its employees arrears arising from implementation of the 7th Pay Commission recommendations in one go in August salaries.
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The pay panel has recommended a starting salary of Rs 56,100 per month at entry level for these and officers of Group A services like Indian Revenue Service.
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Bajaj Auto reported a 3.5 percent rise in revenue to Rs 6,088.7 crore while its operating margin improved to 19.3 percent in the first quarter of FY17.
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Gautam Trivedi of Religare Capital Markets said a good monsoon, the rollout of the Pay Commission hike, passage of GST Bill and the appointment of the new Reserve Bank governor will be a positive.
_356X200_2844_356.jpg?impolicy=website&width=135&height=80 "Funds flowing into EMs, commodities; like consumption: Axis MF")
