DA hike July 2025: 4% increase likely for central government employees
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The Hindu
an hour ago
- The Hindu
CPI Thrissur district meet concludes; K.G. Sivanandan new district secretary
A four-day Communist Party of India (CPI) district conference came to a close in Irinjalakuda on Sunday. K.G. Sivanandan has been elected as the new district secretary. The announcement was made by CPI State secretary Binoy Viswam while addressing the elected representatives at the conference. A 57-member district council and 50 representatives to the upcoming CPI State conference were also elected during the meet. The district conference has passed a resolution demanding the reinstatement of the Planning Commission, an institution once crucial to country's balanced development planning, and urged the Centre to uphold its constitutional responsibilities in maintaining healthy Union-State relations. Centre-State relations The resolution alleged that Prime Minister Narendra Modi-led administration is deliberately weakening the Centre-State relations and centralising power as part of a larger Sangh Parivar agenda. The discontinuation of the Planning Commission, a body that once played a key advisory role in strategising national development and welfare programmes, was described as a politically motivated move, especially targeted at States where the Bharatiya Janata Party (BJP) has little political footing. By replacing the Commission with NITI Aayog and simultaneously denying financial aid to States like Kerala, the Centre is allegedly crippling progressive development models, the party stated. Despite being consistently ranked at the top in indicators like health, education, and social welfare, even in the NITI Aayog's own reports, Kerala is being financially squeezed by the Centre, the resolution claimed. The CPI pointed out that the State has witnessed a shortfall of ₹2,942.29 crore in Central revenue share between 2023 and January 2025 . The 15th Finance Commission's recommendations are being ignored and the ₹12,000 crore annual GST compensation Kerala was entitled to has been discontinued, the conference said. Cultural complex The meet demanded a cultural heritage complex in Thrissur. The resolution pointed out that Thrissur has, for more than half a century, been home to the State's most prestigious official cultural institutions, including the Kerala Sahitya Akademi, Kerala Sangeetha Nataka Akademi, and Lalithakala Akademi, Kerala Kalamandalam and Unnayi Warrier Smaraka Kalanilayam. The district's contribution extends beyond the arts. It is etched into the social and political fabric of modern Kerala through landmark struggles like the Guruvayur Satyagraha, the Kuttan Kulam protest for social justice, the Veloor Manimalarkavu women's liberation movement, the Pariyaram farmers' agitation, and labour movements in Anthikad and Amballur. Thrissur was also the land of action of visionary leaders like E.M.S. Namboodiripad and C. Achutha Menon. In light of this profound cultural, literary, artistic, political, and social heritage, the CPI district conference has urged the Kerala government to establish a comprehensive cultural heritage complex here.
India Gazette
3 hours ago
- India Gazette
Union Bank of India cuts 2025-26 headline inflation forecast, largely in line with RBI
New Delhi [India], July 13 (ANI): With food prices lagging seasonal trends and driving headline Consumer Price Index-based retail inflation below 4 per cent since February 2025, Union Bank of India has revised downwards its 2025-26 headline inflation forecast from 4 per cent to 3.6 per cent (largely aligned with the RBI' forecast of 3.7 per cent). The June retail inflation data is due early next week. In a report, the bank said June 2025 retail inflation will be at 2.3 per cent, with the worst seems to be over for now. According to them, July figures would be the near-term bottom. '...in our optimistic scenario, we project FY26 CPI at 3.1 per cent while pessimistic scenario forecast stands at 4.2 per cent. It is noteworthy that even in the pessimistic scenario, we are projecting the CPI for FY26 at 40 bps below that of FY25,' the report read. More importantly, it added that cooling in inflation to sub-4 per cent is largely contingent on drop in 'sticky' food inflation. After remaining sticky in 6.5-7.0 per cent range consistently during 2022-23-25, food inflation is projected to slip in 2025-26 to 3 per cent -- lowest in 7 years. '...while in recent years, food prices have been spilling over in recent years (acknowledged by RBI study with similar name), the expectation of sharp cooling in food CPI this year is contingent on favourable climate conditions,' the bank's report dated July 11 read. On the RBI monetary policy front, the report said they continue to believe that the rate cutting cycle stands concluded for now with terminal rate of 5.50 per cent. The RBI has cut repo rate by 100 basis points cumulatively since early this year. 'Similar to the MPC, we expect a gradual increase in CPI from August'25 onwards as favourable base effects fade and likely breach the comfort level of 4 per cent in H2-FY26,' the report noted. Continuing its downward trend, consumer price inflation in India hit an over six-year low in May, in respite to common people. According to the statistics ministry, the year-on-year inflation rate based on Consumer Price Index (CPI) for the month of May was 2.82 per cent (provisional). It is the lowest year-on-year inflation since February 2019. The significant decline in inflation in May is attributable to a decline in prices of pulses and products, vegetables, fruits, cereals and products, household goods and services, sugar and confectionery and egg, coupled with the favourable base effect. The inflation rate is within the Reserve Bank of India's (RBI) manageable range of 2-6 per cent. Retail inflation last breached the Reserve Bank of India's 6 per cent upper tolerance level in October 2024. Since then, it has been in the 2-6 per cent range, which the RBI considers manageable. Retail inflation last breached the Reserve Bank of India's 6 per cent upper tolerance level in October 2024. Since then, it has been in the 2-6 per cent range, which the RBI considers manageable. The inflation outlook for the year 2025-26 has been revised downwards by the RBI from its earlier forecast of 4 per cent to 3.7 per cent. (ANI)
News18
5 hours ago
- News18
8th Pay Commission: What Is The 12-Year Commuted Pension Demand And Why It Matters
Last Updated: The Centre announced the 8th Pay Commission for over 1 crore employees and pensioners. What the report says on the expected implementation timeline. 8th Pay Commission: The 8th Pay Commission is likely to take effect from January 1, 2026, paving the way for a salary hike for lakhs of central government employees and pensioners. The government announced the 8th Pay Commission on January 16, 2025. However, the formal appointment of its chairperson, members, and the issuance of detailed Terms of Reference (ToR) are yet to be finalised. Other than that, employees and pensioners have a major pending demand for the upcoming 8th pay commission. They are hoping that the commission will reduce the commuted pension to 12 years from 15 years, offering a big relief against the rising medical and inflationary costs. The National Council (JCM) – Staff Side, which represents central government employees, has sent a list of demands to the government, according to a report of Financial Express. The 12-year restoration is one of the top issues in that list. This point was also raised during the SCOVA (Standing Committee on Voluntary Agencies) meeting held on March 11, 2025, which was chaired by the Minister of State for Personnel. What Is Commuted Pension? At the time of retirement, employees have the flexibility to take a portion of their monthly pension in a lump-sum amount. The government will then deduct that portion from their pension every month to recover the amount. This is called commutation. Right now, the deduction continues for 15 years, after which the full pension is restored. Why Is There A Demand To Reduce To 12 Years? Unions and Pensioners argue that 15 years is too much given the rising medical costs and living expenses. With the drop of interest rates, retirees, they argue, lose a good part of their pension money. view comments First Published: July 13, 2025, 14:26 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
