It has been reported that the government is about to triple what the senior employee earns next year. Consultations are still going on to bring their remuneration to par with that of the chief officers of private entities. As local newspapers, television, and radio state, in some cases, preparations are being made for senior employees to have their salaries raised to 100%, as currently, their remunerations are relatively low, much lower than their counterparts in the private sector.
Performance-Based Increase
The proposed rationalization of the salary structure is for those CPSEs with turnovers of more than 100 crore rupees. It is being contemplated to make changes in salaries in relation to certain performance indicators, thereby keeping the employees motivated and devoted to their tasks.
Proposal Advancement
At the moment, the proposal is still at the conceptual level. Departmental officials have proposed presenting it to the Cabinet Committee. As before, in the budget session, any project will pass through the consideration of the Cabinet Committee, which will determine such factors as the speed of project implementation and the profit factor.
Budget Preparation
The second and last part of the fiscal document for the fiscal year 2024–25 will be unveiled this month as the full budget. After the interim budget presented by Finance Minister Smt. Nirmala Sitharaman in February, further plans for the complete budget are on the cards, taking into consideration the electoral year.
