Wednesday, March 5, 2008

Pay hike may cost 20000 Crore Rs

It is expected that 6th pay commission implementation will share 0.4 % of Indian GDP, according to Finance Secretary D Subbarao. This data is based on fifth pay commission in which pay hike impacted 0.4 % of GDP.
Indian GDP will be roughly 53,03,800 crore in 2008-09 as expected in Budget 2008-2009. From this estimate, sixth pay commission implementation may cost around 20,000 Crore Rupees, which is far less then Rs 60,000 Crore, sanctioned for the complete waiver of loans for small and marginal farmers.

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