Andhra Pradesh 30% HRA Increase and Other Benefits

Its raining benefits and perks for the government employees of the newly carved state capital of Amravati in Andhra Pradesh. They are set to get 30% increase in House Rent Allowance (HRA), and there are more goodies. Here are the details

Paramilitary Forces One Rank One Pension OROP Details

High on the heels of the armed forces, the paramilitary forces of India are now planning to demand for benefits under the One Rank One Pension (OROP) scheme. This article provides details about the latest developments, expected benefits, costs, and impact areas for One Rank One Pension (OROP) for Paramilitary Forces

BMC Under Process to implement Seventh Pay Commission: Expect 15%-30% Pay Hike

As per the available news, BMC is expected to be under process to implement the recommendations of the Seventh Pay Commission for its employees.
As per the guidelines issued by the central government, BMC was required to prepare a report regarding implementation of the seventh pay commission as applicable to BMC. It is learnt that BMC has already started the work towards report preparation.

The recommendation is that BMC employees may see 15% to 30% pay hike after

Seventh Pay Commission Recommendations Report: 20%-40% Pay Hike for Central Government Employees

It is learnt that the government appointed Seventh Pay Commission is actively working on drafting the recommendations for increase in salaries of lakhs of central government employees. It is expected to submit its recommendations to the government by this year end. In what could be a the biggest bonanza of all times, it is expected that central government employees can receive salary increase in the range of 20% to 40%

Dearness Allowance for Central Government Employees: Expected to go upto 80%

Earlier in the year 2012 and 2011, there were good news about Dearness allowance increase for the central government employees under the sixth pay commission and we had covered the details in the following articles, 7% DA Dearness Allowance Increase for Central Government Employees and then Government approves 6% hike in DA: Dearness Allowance now at 51%: Sixth Pay Commission Recommendation
Dearness Allowance for Central Government Employees: Expected to go upto 80%
Details about Dearness Allowance for Central Government Employees, which is expected to increase by 8% from current 72% t 80%
Today can be a big day for Central Government Employees as there are expectations that the dearness allowance can be increased from 72% to 80%. This was a decision expected earlier on APril 2, 2013, but it was deferred because the Finance Minister was not available to conclude on the decision. Now the expectations are that today this good news can come through.

Dearness Allowance: Sixth Pay Commission Recommendation Details about DA hike


How many central government employees will benefit from this Dearness Allowance DA hike as per Six Pay commission recommendation?
More than 50 Lakh central government employees are expected to get the benfit of increased Dearness Allowance.
Along with them, around 30 lakh pensioners are also expected to benefit.

When will the new Dearness Allowance be effective?
That is another good news. The new Dearness Allowance DA value is expected to be effective from January 1 2013. So employees can expect more money in coming months as arrears payment.

How much money will this hike be?
It is estimated that this hike of 8% in Dearness Allowance will be given. Current DA stands at 72% and with 8% hike this is expected to shoot upto 80%.
As per the various details available on the internet, The Dearness Allowance revision usually happens two times in a year, January and July.

Last year, there was a DA hike which took the DA to 72% in September 2012. That came into effect from July 2012.

The DA is integrated with basic salary component once it goes above the 50 percent limit. It ensures that employees get higher allowances as those are paid in proportion to the basic pay.

With this DA hike, the Central Government employees who already have got a lot of benefits from the 6th pay commission recommendation have one more additional thing to feel happy about. This will be a relief for them considering the high value of inflation the common man in India is struggling with.
However, please note that above details are based only on the news items and yet to be confirmed. Quiet likely the confirmed news is expected today with exact details.

IIB Inflation-Indexed Bonds India (TIPS Bonds India) Details

As per the news details available, the Reserve bank of India (RBI) is expected to launch the Indian version of TIPS bonds (Commonly known as Treasury Inflation Protected Securities) and quite popular in countries like USA. In India, these bonds will be known as IIB or Inflation-Indexed Bonds and are expected to be launched within a month i.e. by May 2013.
Let's see some details of these IIB (or TIPS) bonds in India.

Return Calculations: LIC Jeevan Sugam Policy

Continuing further from our previous article LIC Jeevan Sugam Policy Review, here are the further details on Return Calculations.

Is the LIC Jeevan Sugam Policy worth investing?
Going by the example cited on LIC's official website, they quote a scenario of a 30 year old person

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