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