Must read the full explanation of Finance Ministry dated May 04 - a day after the Union Cabinet endorsed alterations identified with annuity correction equation, pay structure and pay grids of focal government representatives and beneficiaries including military.
Prior, on 29th June, 2016, the Cabinet had affirmed execution of the suggestions with an extra budgetary outgo of Rs 84,933 crore for 2016-17 (counting overdue debts for 2 months of 2015-16).
The advantage of the proposed alterations will be accessible with impact from first January, 2016, i.e., the date of execution of seventh CPC suggestions.
With the expansion affirmed by the Cabinet, the yearly annuity charge alone of the Central Government is probably going to be Rs 1,76,071 crore.
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