Fin Min keen to cut projected spend on 7th Pay Comm: Sources
The Fin Min is keen on pruning Pay Commission spend by Rs 15,000- Rs 25,000 crore.
CNBC-TV18's Nayatara Rai says quoting sources that the Finance Ministry is keen to cut its projected spend on the seventh Pay Commission in order to protect fiscal.
The seventh Pay Commission had recommended an additional impact of Rs 74,000 crore, that the Fin Min is now trying to bring down. It hopes to pare it down to Rs 50,000 to 60,000 crore.
Furthermore, the Fin Min may consider not rolling out a few perks recommended by the Commission. It may also stagger a few allowances and introduce them post FY17.