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Arun Jaitley: OROP implementation table, 7th Pay Commission to get Rs 1.10 lakh crore in Budget 2016

Tue February 09 2016, 12:04 pm
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    OROP implementation, 7th Pay Commission report: Budget 2016 needs to provide Rs 1.10 lakh crore for implementing the One Rank One Pension (OROP) and the 7th Pay Commission report recommendation on pay and pension, besides a higher allocation for the agriculture sector, Finance Minister Arun Jaitley said today. (Image Source: Reuters)

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    OROP scheme: Defence Minister Manohar Parrikar on Thursday said the grant of 'One Rank One Pension' (OROP) to those who took premature retirement from the armed forces could be considered with certain conditions. Here are Manohar Parrikar's comments on the OROP scheme:

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    OROP implementation, 7th Pay Commission report: The 7th Pay Commission report recommendation on pay and pension in November 2015 recommended increase in remuneration of about one crore government employees and pensioners which is estimated to impose an additional burden of Rs 1.02 lakh crore in 2016-17. The 7th Pay Commission report's new pay scales, subject to acceptance by government, will come into effect from January 1, 2016. (Image Source: Reuters)

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    Budget 2016 expectations: Finance Minister Arun Jaitley is all set to present his third budget and a lot of expectations are riding on him to power up PM Narendra Modi's Startup India scheme. While PM Modi has promoted the Startup India scheme massively and backed it up with personal promotions aside from effecting rules to provide an easier business environment for startups, still the Indian Angel Network wants certain policies from the NDA govt and it has unveiled a wishlist that they would like to see reflected in Union Budget 2016. Check out the top 10 noteworthy points:

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    With the Union Budget 2016 date of announcement getting nearer (29th February), all eyes are on Finance Minister Arun Jaitley. The government typically receives a whole lot of suggestions from citizens of India and it has been no different this time either. The common man is expecting a lot from the PM Narendra Modi led NDA government's third budget. The hopes are high as PM had promised 'acchhe din' to the people at large, but not much has happened on the ground. In fact, expectations were belied after the government actually urge citizens to give up their LPG subsidy and now they are also paying a 'Swacch Bharath' cess of 0.5% on all taxable services. So, keeping all things in mind, here is a Budget 2016 wish list of the common man:

    By Credit Vidya

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    OROP implementation, 7th Pay Commission report: “More incentives will be given to agriculture sector for increasing agriculture production and productivity,” he said. India, he said, continues to be one of the fastest growing economies in the world, but there is still potential to grow at a much faster pace. “The world economy is passing through an uncertain and fragile situation… The silver lining is low international commodities and oil prices which in turn has helped in better macroeconomic situation of the country,” Arun Jaitley said. (Image Source: Reuters)

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