7th Pay Commission: KVS employees to get big pay hike, RBI says HRA will guide momentum of inflation
The RBI projected the quarterly average headline inflation in the range of 2.0-3.5 percent in the first half of the year and 3.5-4.5 percent in the second half.
The 7th Pay Commission recommendations have been implemented for the Kendriya Vidyalaya Sangathan (KVS) employees. The implementation was undertaken by the Humar Resources Development ministry.
Meanwhile the Reserve Bank of India in its second bi-monthly monetary policy review on Wednesday said that implementation of HRA will be one of the key factors that will guide the momentum of inflation in future.
HRD ministry order for KVS employees
"Approved the recommendation for implementation of 7th Pay Commission to employees of KVS at par with other central govt. employees @kvschoolschd (sic)," Union HRD minister Prakash Javadekar said in a tweet. "Over 46,000 KVS employees to benefit @kvschoolschd," he added.
Approved for teachers
Earlier this week, the HRD ministry had also announced a bonanza for the teachers. The minister had announced that the pay panel's recommendation for colleges and universities would be approved soon. It may take at least a month to approve, sources said.
RBI bi-monthly monetary policy
The RBI projected the quarterly average headline inflation in the range of 2.0-3.5 percent in the first half of the year and 3.5-4.5 percent in the second half.
Determining factors
(a)
the
impact
on
the
CPI
of
the
implementation
of
house
rent
allowances
(HRA)
under
the
7th
central
pay
commission
(CPC)
(b)
the
impact
of
the
price
revisions
withheld
ahead
of
the
GST
(c)
the
disentangling
of
the
structural
and
transitory
factors
shaping
food
inflation.
OneIndia News