The Minister of State for Finance, Jayant Sinha, has said that implementing the One Rank One Pension scheme for military pensioners and the recommendations of the 7th Pay Commission will not bankrupt the nation.

The Union Minister of Finance Arun Jaitley had a meeting with the financial experts in New Delhi yesterday. Following the meeting, Mr. Jayant Sinha spoke to the mediapersons. He said –

“We are managing the country’s finances very well. Experts have appreciated our efforts. The government’s financial condition is very stable. Therefore, there wouldn’t be a cash deficit even if the government implements the recommendations of the 7th Pay Commission. Similarly, the government can very well manage the additional cash burden incurred by implementing the One Rank One Pension scheme for the military.

Implementing the OROP will result in additional expenses of Rs.8000-10,000 crores this year. The 7th Pay Commission’s recommendations will be submitted to the government in December this year. Giving increments to the Central Government employees will result in additional expenses to the Government. He confirmed that the government can comfortably manage these expenses.
A lot of important issues, including financial burdens, increasing employment opportunities and agricultural outputs, were discussed at the pre-Budget consultation. Some of the leading names in financial management in India had participated in the meeting. It is normal for governments to hold such meetings prior to the annual budget, but it is unusual that such a meeting was held with six months to go before the next Budget is due. Sinha said that the valuable suggestions that were given by the experts have made the meeting worthwhile, and have convinced them that holding such meetings in advance was a good move.

A number of useful suggestions were given on the schemes that have to be implemented in the current and the next Financial Years. The meeting also paved way for the joint implementation of many a schemes, he said.

Discussions on agriculture and the issues related to it took up most of the time at the meeting. “We discussed a number of suggestions on how to improve our agricultural production. We talked about financial deficits and ways to reduce expenses and austerity measures. We had also discussed public investment options and the importance of making them profitable.

“The other most important topic that we had talked about was the Ministry of Finance. We had discussed the need for increasing the loans offered to farmers, and to the micro-, small- and medium-sized enterprises, and the necessity for increasing job opportunity for youngsters. We had also discussed the steps that need to be taken to boost the large-scale and production-based industries, which are among the biggest sectors that offer employment.”

Source: centralgovernmentemployeesnews.in

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OROP protests likely to intensify

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“For more than four days now, the relay fast protests by the ex-servicemen have been on in New Delhi demanding the immediate implementation of the OROP scheme.”

All over the country, in 20 cities, the relay fast protests by ex-servicemen, seeking the immediate implementation of the One Rank One Pension scheme have entered its fourth day.

Meanwhile, the Central Minister, VK Singh, who was in Hyderabad yesterday, has told the PTI news agency that the OROP scheme will definitely be implemented.

Minister of State for External Affairs General VK Singh, “I’m very confident that Prime Minister Narendra Modi will definitely fulfill all his promises. Steps are on to implement the scheme. Some confusion regarding the calculations has to be sorted out. The Modi government will very soon address the needs of the ex-servicemen. Please do not lose hope,” he added.

According to sources, the United Front of Ex-Servicemen has told a leading newspaper announced yesterday that the OROP scheme will be announced in another few days.

The ex-servicemen have managed to draw the attention of the entire country and the media to their cause through the protest. But they are still waiting for a sign from the Government that their demands have been heard.

Source: 7thpaycommissionnews.in

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One Rank One Pension Formula May Be Similar to MP’s Pension Plan

New OROP formula may be similar to MPs’ pension plan

NEW DELHI: The government is working on a fresh option to resolve the ongoing stand-off over ‘one-rank-one-pension’ demand of ex-servicemen, sources said on Thursday.

According to a senior government official, they are working on a proposal that would be similar to the pension scheme for MPs. The scheme operates on a band concept, with additional money for each additional year of service.-

The proposal is to create pension bands for each rank, and then provide additional money for each extra year of service. So all officers who retire in a particular rank will be in the same band of pension, with the total pension payment going up according to the number of years he has spent in that rank.

“We are working out the fine details,” one source said. Senior government officials are thrashing out the finer details, and it would be presented to the representatives of ex-servicemen and the military brass.
The latest move comes even as ex-servicemen are continuing with their protests against what they feel is a huge let down by the Narendra Modi government, which had come to power promising to implement the OROP scheme.

Ex-servicemen, some of whom have begun to boycott government functions, are planning a major rally in New Delhi on June 14 to protest against the government failure to fulfil the promise.

Click to read more at Times of India

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