Central government employees may witness salary hike? Here’s the fact
The Labour Ministry on Thursday launched a brand new sequence of the buyer worth index for industrial staff (CPI-IW) with 2016 as the bottom 12 months towards 2001 earlier. This transfer of the Centre has created a buzz that this can result in a hike in salaries of central authorities staff earlier than Diwali.
The Consumer Price Index-Industrial staff (CPI-IW) is a measure of the combination worth stage in an financial system. It is the one most necessary worth statistics with monetary implications. The CPI-IW is primarily used to manage the dearness allowance of presidency staff and the employees within the industrial sectors, along with measuring the retail inflation within the financial system.
It can be used within the fixation and revision of minimal wages in scheduled employments in addition to measuring the inflation in retail costs. In future, the bottom revision will likely be finished each 5 years, Labour Minister Santosh Gangwar stated in a press release.
“Santosh Kumar Gangwar, Minister of State (Independent Charge) for Labour & Employment, released the new series of Consumer Price Index for Industrial Worker (CPI-IW) with the base year 2016, being compiled and maintained by Labour Bureau, an attached office of Ministry of Labour & Employment,” the ministry stated within the assertion.
The new sequence of CPI(IW) with the bottom 12 months 2016 will change the present 2001 sequence, it added. Earlier, the sequence was revised from 1944 to 1949; 1949 to 1960; 1960 to 1982 and 1982 to 2001 for the reason that inception of the Labour Bureau.
However, this won’t pave manner for a hike in Dearness Allowance (DA) of central authorities staff. On October 16, the labour ministry had dismissed experiences that this is able to result in a hike in salaries of presidency staff and industrial staff. “Labour Ministry denies reports in a section of media appearing under the caption “Govt. Employees set to get extra DA” published on October 16, 2020,” the ministry stated in a press release.
The ministry had by no means stated that the brand new index would result in a hike in salaries of commercial staff and authorities staff, it clarified. It defined that the hike in salaries of commercial staff and authorities staff will rely upon the behaviour of the brand new sequence, which is just too early to foretell at this stage.
The new sequence of CPI-IW can be extra complete as it will have over 300 objects in its basket-like well being, training, meals in comparison with 200 within the present index. Besides, it will accumulate information from round 90 completely different centres or markets throughout the nation within the new sequence in comparison with 77 within the present index.
If applied, the choice would profit at the very least 48 lakh central authorities staff. Earlier, the federal government had postponed the rise within the Dearness Allowance of central staff resulting from coronavirus an infection. At current, the central staff are entitled to the Dearness Allowance on the charge of 17 per cent.
In order to stimulate client demand within the financial system, the federal government had lately gifted Diwali pay as you go card to central staff. The pay as you go card, which presents an interest-free mortgage of Rs 10,000 to central authorities staff, can be utilized till March 31, 2021.
The minister lauded the efforts of the Labour Bureau for its steadfastness and exemplary position, which have lastly culminated within the launch of the up to date sequence of CPI (IW). He talked about that information on all facets of labour is essential to serving as inputs in policymaking and this justifies the existence of an organisation just like the Labour Bureau, devoted to labour and worth statistics.
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