Union Budget 2015: Postal Department to use its vast network for proposed Payment Bank

NEW DELHI: Finance Minister Arun Jaitley today said the Postal Department will utilise the services  of its vast network for the proposed Payment Bank.

"Government proposes  to utilise vast postal network with nearly 1.55 lakh points of presence across  villages of the country.

"I hope postal department will bring the  proposed Payment Bank venture successfully so that it can contribute in Pradhan  Mantri Jan Dhan Yojana," Jaitley said while presenting the Budget for 2015 in Parliament.

The postal offices will function as payment banks, he  added.

Seventh Pay Commission likely to submit report in October 2015

After 14th Finance Commission, 7th pay panel’s report looms : LiveMint

Finance ministry fears that its revenue will be affected in 2016-17 as it has to absorb new pay panel recommendations

New Delhi: After the recommendations of the Fourteenth Finance Commission (FFC) forced the government to reduce its plan expenditure in the 2015-16 budget, the Union finance ministry fears its revenues will remain constrained in 2016-17 as well since it has to absorb the recommendations of the Seventh Pay Commission (SPC) in that year. 

The Seventh Pay Commission will submit its report by October 2015. 

Click here for details of provision for 7th CPC in union Budget -2015-16

“The 7th Pay Commission impact may have to be absorbed in 2016-17. The phase of consolidation, extended by one year, will also be spanning out in this period. Thus, in the medium-term framework, the fiscal position will continue to be stressed,” the finance ministry said in the macroeconomic framework statement laid before Parliament along with the budget on Saturday.

Provision for 7th Pay Commission in Budget 2015-16

The Budget is also gravely silent on fund allocations for the Seventh Pay Commission award, due for implementation in 2016.  The budgetary documents are stressing upon likely burden from the report of the 7th Pay Commission.  However the funds are allocated for Commission'ss establishment.  The extract of budgetry documents which are related to 7th CPC are mentioned below:-

Speech of Finance Minister - Heading Fiscal Roadmap para 23:-

Budget  2015-2016

Speech  of

Arun Jaitley

Minister of Finance

February 28,  2015

Fiscal Roadmap

23. I want to underscore that my government still remains firm on achieving the medium term target of 3% of GDP.  But that journey has to take account of the need to increase public investment.  The total additional public investment over and above the RE is planned to be `1.25 lakh crore out of which `70,000 crore would be capital expenditure from budgetary outlays.  We also have to take into account the drastically reduced fiscal space; uncertainties that implementation of GST will create; and the likely burden from the report of the 7th Pay Commission.  Rushing into, or insisting on, a pre-set time-table for fiscal consolidation pro-cyclically would, in my opinion, not be pro-growth.  With the economy improving, the pressure for accelerated fiscal consolidation too has decreased.  In these circumstances, I will complete the journey to a fiscal deficit of 3% in 3 years, rather than the two years envisaged previously.  Thus, for the next three years, my targets are: 3.9%, for 2015-16; 3.5% for 2016-17; and, 3.0% for 2017-18.  The additional fiscal space will go towards funding infrastructure investment.

***

APPRECIATION AND MOBILE PHONE PRIZE TO POSTMASTER GRADE OFFICIAL !!!

Dear Friends,

                    As the preamble given by the GOI, while constituting postmaster cadre, as a front runners of the DOP, all over the India, qualified Postmaster grade officials are standing high in the performances and devotion in duty and getting appreciations from the administration and as well as from the member of public.

                  In the same way, we are very glad to publish that Shri.Rajesh Kanna H, Postmaster Grade-1 Sholinghur SO-631102 under Arakkonam Division received a prize-Micromax Mobile from Shri. Mervin Alexandar, Postmaster General, Chennai City Region for Best Performance in Western Union Money Transfer on 27 Feb 15.

Modification in PLI/ RPLI software to implement the service Tax and Sales Tax module

Click  here to view the details.

Appeal to all our Postmaster fraternity

      RT-2015 of Tamilnadu circle is under process and in this connection, We request all the Postmasters especially the Postmasters who are going out of their present office on completion of their tenure to send their office photos .

       For example a photo containing the Postmaster and his staff and his office in the background. The same shall be published in this website. If you like the idea, just send the same to gradepostmaster@gmail.com.

DEPARTMENT’S DELAYING TACTICS SHOULD NOT BE ALLOWED. POSTAL JCA SHOULD NOT FAIL IN ITS RESPONSIBILITY.

COM. M.KRISHNAN

EX SECRETARY GENERAL NFPE

Cadre Restructuring agreement of the Group ‘C’ employees of the Department of Posts was signed by both the official side and staff side on 28.04.2014 after protracted discussions and hard-bargaining by the leadership of NFPE & FNPO. By 30.04.2015 first anniversary of the signing of the agreement will be over. Even after a lapse of nine months the proposal is still pending in the Postal Directorate. In all other departments like Railways, Income Tax, Central Secretariat etc. cadre.

restructuring is already approved by Government and implemented. Employees got the benefits months back. Postal JCA has included this demand in its charter of demands. The reply given by the Department is really shocking and shameful. After keeping the file in the cold-storage for ten months now the Postal Board says it want six months more time to process the proposal for submission to the DOP&T. Reply given by the Department in the minutes of the strike charter discussion is reproduced below:

PRESS NEWS:- INFOSYS WAS PENALISED OF RS.9.33 CRORES FOR DEFAULT IN SERVICE

BANGALORE MIRROR cover story.

Blame it on Infosys, says Bescom MD on excess power bills

By Niranjan Kaggere, Bangalore Mirror Bureau | Apr 22, 2014, 02.00 AM IST

Pankaj Kumar Pandey says power utility had identified 150 issues based on consumer complaints, but Infosys was able to rectify just 85. Only govt can scrap the contract

In February this year, some United Bank of India employees had reportedly blamed inherent deficiencies in 'Finacle', the financial software provided by Infosys, the Bangalore based IT bellwether giant, for the bank's mounting NPAs. The NPA controversy had led to the exit of Archana Bhargava, chairman of the bank. Now, Bangalore Electricity Supply Company (Bescom) has called into question the reliability of the company's billing software.

Sukanya Samriddhi Account - Your best gift for your Girl Child...

TAMILNADU CIRCLE : POSTMASTER Grade I Exam 2014 Results Declared

"CONGRATULATIONS "

TO NEWLY SELECTED GRADE -I POSTMASTERS

Tamilnadu Circle : Results of Postal Assistant / Sorting Assistant Direct Recruitment Examination 2014

CLICK HERE TO VIEW THE RESULTS

Results of Postal Assistant/Sorting Assistant Direct Recruitment Examination 2014 held on 11.05.2014 (Paper I) and 24.09.2014 to 30.09.2014 (Paper II) released on 18.02.2015.

Selected candidates are requested to await further communication from the Divisions / Units concerned.

Bank unions want FM to step in to resolve wage hike

Days ahead of a proposed strike by PSU banks' employee unions, a top union leader today sought the intervention of Finance Minister Arun Jaitley to resolve the over two-year-old wage hike issue.

Public sector bank employee unions have threatened to go on a nationwide four-day strike beginning February 25 over the wage hike issue.

C H Venkatachalam, General Secretary of All-India Bank Employees Association (AIBEA), said Jaitley should intervene immediately to settle the long-pending issue.

Source : PTI