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Arrears of hiked salary to be paid through bonds

Arrears of hiked salary to be paid through bonds
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Telangana Finance Minister E Rajendar on Friday said that the arrears of the hiked salaries under 10th PRC ( Pay Revision Commission) would be paid to the employees through bonds with a five year maturity. Replying to a question posed by the ruling TRS and AIMIM MLAs in the house, he said the PRC would be effective from June last year .

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Hyderabad: Telangana Finance Minister E Rajendar on Friday said that the arrears of the hiked salaries under 10th PRC ( Pay Revision Commission) would be paid to the employees through bonds with a five year maturity. Replying to a question posed by the ruling TRS and AIMIM MLAs in the house, he said the PRC would be effective from June last year . The arrears accumulated up to February would be paid to the employees through bonds. The hiked salaries would be paid from April one this year.

Stating that the state exchequer would be burdened Rs 6,500 to Rs 6,700 crore per annum due to salaries hike, the minister said 3 lakh government employees along with the employees of Corporations, local bodies and government aided institutions and 2.40 lakh pensioners would benefit with the hike of salaries.

The minimum salary has been increased to Rs 13,000 from Rs 6,700 and the highest salary would be Rs 1.10 lakh per month after the government approved 43 per cent fitment, he said claimed the highest ever increase in salaries in the country. Minimum pension has also been increased to Rs 6,500 from Rs 3,300.

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