Employees grievances on 7th CPC to be referred to high-level panel

Employees grievances on 7th CPC to be referred to high-level panel

The government on Wednesday said the concerns raised by central government employees’ unions on the recommendations of the Seventh Pay Commission would be examined by a high-level committee of secretaries.

Representatives from various unions met Home Minister Rajnath Singh, Finance Minister Arun Jaitley and Rail Minister Suresh Prabhu on June 30. “They had requested that certain issues related to the pay scales and other recommendations of the Pay Commission to be raised before a committee of secretaries looking into grievances of employees,” a statement said.

“The ministers assured the union leaders that the issues raised by them would be considered by a high level committee,” it said. Read more.

Start-ups bat for tax sops, investment incentives in Union Budget

The startup community, which has started facing funds crunch of late, is looking to the Union Budget 2016 for an easy tax regime, relaxation in investment norms and furtherincentives for innovation.

The country is home to over 18,000 startups, making it the third-largest in the world after the US and England.

“iSpirt has represented to the finance ministry that a small basket of tax sops merely will not be effective for the existing system which is riddled with several bottlenecks," co-founder of iSpirt Foundation Sharad Sharma told PTI. Read More.

Budget 2016: Fiscal Framework: Review medium-term fiscal stance

Fiscal hawks might not like it but the Budget 2016 has made a case for reviewing the medium-term fiscal framework in the upcoming Budget News. It, however, has argued that there were “good” arguments for both relaxing the fiscal deficit target and keeping it.

The framework mandates the government to cut its fiscal deficit to 3.5 per cent of the country’s gross domestic product (GDP) next financial year and 3 per cent by 2017-18 from the targeted 3.9 per cent in the current financial year.