Sunday, 26 June 2016

Largest participation in the Mammoth demonstration held in front of parliament on 24th June 2016

Largest participation in the Mammoth demonstration held in front of parliament on 24th June 2016 – NFIR  June 26, 2016 By admin —Leave a Comment 0 Share  Largest participation in the Mammoth demonstration held in front of parliament on 24th June 2016 – NFIR NFIR National Federation of Indian Railwaymen 3, Chelmsford Road, New Delhi – 110 055 Sub: Indefinite Strike from 11th July 2016-reg. At the outset, NFIR richly compliments its affiliates for ensuring largest participation in the Mammoth demonstration held in front of parliament on 24th June 2016 which has been a historic success. The massive demonstration, hopefully, conveyed to the Government of the united struggles of Central Government employees under the banner of NJCA. In the massive rally held an 24th June 2016, it was urged upon the Government of India to modify the retrograde recommendations of 7th CPC, abolish Pension Scheme, revise upwardly the minimum wage and settle other issues through negotiations before it is too late.  The NJCA in its meeting held on 25th June 2016 has decided to call upon all its affiliates at all levels to build up further momentum already generated by holding daily demonstrations, rallies at all work places from to July 2016. NFIR, therefore, urges upon its affiliates to work hard enlisting the total support of Railway employees for launching Indefinite Strike from 11th July 2016. The Federation is confident that its leadership and cadres at different levels would prove that they are second to none in this unique struggle of Central Government Employees for achieving the ultimate success on the Charter demands. With greetings, Yours fraternally, sd/- (Dr. M. Raghavaiah) General Secretary Source: NFIR

Seventh Pay Commission: Brexit fallout may force Modi govt to delay ‘salary increment’

Modi government may delay most awaited Seventh Pay Commission as a result of Brexit fallouts. Reportedly, implementation of the 7th CPC could be delayed for 2-3 months in the wake of volatility in the markets following after Britain's decision to pull out the European Union.

Good News! Govt staff likely to get 30% more 'increment' than recommended As per media reports, it will take minimum 2-3 months for markets to gain its stability back. At a time when fiscal health is already under stress, government can't put more burdens on exchequer. Around Rs 1, 00,000 cr is needed to implement salary increment and arrears under Seventh Pay Commission scheme.

As per Zee News, "In order to stabilize overall outflows from the domestic equity markets, government needs to adopt wait-and-watch policy for another quarter before thinking of implementing the payout as any haste can further increase volatility in the market". Earlier reports said that Government could implement Seventh Pay Commission from August 1. It was said that Central government Employees would get increment in their July salary and six months arrears in the month of October. On Friday, Britain voted to quit the European Union after 43 years of membership, throwing the world markets in a tailspin and leaving European leaders worried over how to stem a rising Eurosceptic tide.

The vote rattled Indian financial markets too, shaving over 1,000 points, or 4 per cent, off a key equities index, while pulling the rupee just below the 68 mark to the dollar. Read more: 7th Pay Commission decoded: Know all about salary increment, past pay commissions Both Finance Minister Arun Jaitley and Reserve Bank of India Governor Raghuram Rajan sought to calm the markets and said there was no cause for panic as India's economic fundamentals remained strong and along with other macro indicators. "We are well prepared to deal with the short and medium term Brexit consequence -- strongly committed to our macro-economic framework with focus on stability," Jaitley tweeted from Beijing. Rajan said investors need not panic over the rupee. "We are comfortable on foreign exchange reserves. We can use it when necessary."

OneIndia News (With inputs from agencies)

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