NEW DELHI: Refuting an earlier report that cheque book facility would be withdrawn to push digital transactions, the Ministry of Finance on Thursday clarified that there is no such proposal under consideration.

To recap, just last week, Confederation of All India Traders+ (CAIT) Secretary General Praveen Khandelwal said, “In all probability, the Centre may withdraw the cheque book facility in the near future to encourage digital transactions.”

Continue reading…Similar Posts:

• No proposal to discontinue the Digital Life Certificate for the Pensioners
• Encouraging usage of Debit Cards among Government employees
• No Cash Transaction above Rs 3 lakh – FM
• BENEFITS OF DEBIT CARD ACTIVATION – FAQ
• Amendment to Payment of Wages Act – Only through cheque or accounts transfers – Clarification

With Centre deciding to advance Budget 2017-18 presentation by about a month, the Finance Ministry has come out with comprehensive instructions for different ministries for completion of the exercise.

The instructions were issued following the Cabinet decision to merge rail and general budgets, do away with distinction between plan and non-plan expenditure, and advance date of budget presentation with a view to complete the entire exercise before March 31, the fiscal year end.

“Several structural reforms being undertaken this year, including, removal of distinction between plan and non-plan expenditure, advancement of budget presentation by about an month and merger of demands of Railways.

“Due to these changes, the timelines and informational requirements from the Ministries have also changed. These have been duly incorporated in the Budget Circular,” said the circular.

It also contains the compendium of instructions issued from time to time by Ministry of Finance on various issues.

The RE (Revised Estimate) meetings of ministries/ departments will be scheduled from October 17.

The annual exercise of budgeting aims at detailing the roadmap for efficient use of public resources taking into account the socio-economic and political priorities. Budgeting involves determination of what is to be done and achieved, the manner in which it is to be done and the resources required for the same.

With government deciding to do away with the Five year Plans post 12th Plan ending 2016-17, the Finance Ministry will carry out resource estimation for funding of various Central schemes and programmes as well as central funding for the State/UT schemes/programmes.

The ministry will be guided by the vision document being prepared by the NITI Aayog, as this will help in setting out the resource priorities of the government.

It has also asked the ministries to come up with multi-year projections of budgetary resources.

“This will need to follow the resource estimation of tax, non-tax and other receipts of the Centre for the budget year and the projection period in the medium term as per the FRBM Act,” the circular said.

Source :business-standard

Similar Posts:

• Cabinet approves merger of rail budget with general budget
• One rank one pension scheme pushes up defence pension bill
• Ban on creation of Plan and Non-Plan posts – Finance Ministry
• Central Seeks suggestions from Public on Union Budget 2019-2020
• Finance Minister Arun Jaitley will present the annual budget today

No.1-6/2016-IC
Government of India
Department of Expenditure
Implementation Cell

Room No.214, The Ashok, New Delhi
Dated the 7th September,2016

OFFICE MEMORANDUM

Subject: Revision of pay of employees stagnating at the maximum of the Pay Band and Grade Pay or scale in pre-revised structure under Central Civil Services (Revised Pay) Rules, 2016.

The undersigned is directed to say that consequent upon notification of Central Civil Services (Revised Pay) Rules, 2016, representations have been received regarding provision of additional increments in the revised pay structure on 01.01.2016 in case of employees who had been stagnating at the maximum of the Pay Band and Grade Pay or scale in the pre-revised pay structure.

2. The matter was examined in this Department and it has been decided that in case of persons who had been drawing maximum of the applicable Pay Band and Grade Pay or scale, as the case may be, for more than two years as on 01.01.2016, one increment in the applicable Level in the Pay Matrix shall be granted on 01.01.2016 for every two completed years of stagnation at the maximum of the said Pay Band and Grade Pay or scale. Grant of additional increment (s) shall be subject to condition that the pay arrived at after grant of such increment does not exceed the maximum of the applicable Level in the Pay Matrix. Illustrations:

(Amount in Rs.)

3. After fixation of pay on 01.01.2016 as indicated above, the date of increment shall be regulated as per the provisions of Rule 10 of Central Civil Services (Revised Pay) Rules, 2016.

sd/-
(R.K.Chaturvedi)
Joint Secretary to the Govt. of India

• Clarification on Stagnation Increment in 7th CPC – Finmin on 7.10.2016
• 7th Central pay Commission – Bunching of Stages in Revised Pay Structure Under CCS(RP)Rules, 2016
• 7th CPC CCS Revised Pay Rules 2016 – Finmin Orders
• Seeking of Clarification regarding Option & Pay Fixation in 7th CPC – BPMS
• CPSE – 3rd Pay Revision: Increment, Bunching of Pay, Dearness Allowance in Revised Pay Structure

(PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA)

F.No. No.5( 1 )-B (PD)/2016
Govemment of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

New Delhi, Dated the 30th June, 2016

RESOLUTION

It is announced for general information that during the year 2016-17, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 8.1% (Eight point one per cent) w.e.f. 1st July, 2016 to 30th September, 2016. This rate will be in force w.e.f. 1st July, 2016. The funds concerned are:

1. The General Provident Fund (Central Services).
2. The Contributory Provident Fund (India).
3. The All India Services Provident Fund.
4. The State Railway Provident Fund.
5. The General Provident Fund (Defence Services).
6. The India Ordinance Departrnent Provident Fund
7. The Indian Ordinance Factories Workmen’s Provident Fund.
8. The Indian Naval Dockyard Workmen’s Provident Fund.
9. The Defence Services Officers Provident Fund.
10. The Armed Forces Personnel Provident Fund.

2. Ordered that the Resolution be published in Gazette of lndia.

sd/-
(H.K. Srivastav)
Director (Budget)

Similar Posts:

• General Provident Fund Interest rate for July to Sept 2017
• General Provident Fund Interest 7.6% from July 2018
• GPF Interest 8% from 1.1.2019 to 31.3.2019
• Interest Rate of General Provident Fund w.e.f. 1.1.2017 – Finmin Orders
• Interest Rate for General Provident Fund – Finmin Orders

Resolution – accumulations at the credit of subscribers to the GPF and other similar funds – 2016

(PUBLISHED IN PART I SECTION OF GAZETTE OF INDIA)

F.No.5(1)-B(PD)/2016
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

New Delhi, Dated the 2nd June, 2016

RESOLUTION

It is announced for general information that during the year 2016-2017, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 8.1% (Eight point one per cent) w.e.f. 1st April, 2016 to 30th June, 2016. This rate will be in force w.e.f. 1st April, 2016. The funds concerned are:-

1. The General Provident Fund (Central Services)
2. The Contributory Provident Fund (India)
3. The All India Services Provident Fund
4. The State Railway Provident Fund
5. The General Provident Fund (Defence Services)
6. The Indian Ordnance Department Provident Fund
7. The Indian Ordnance Factories Workmen’s Provident Fund.
8. The Indian Naval Dockyard Workmen’s Provident Fund
9. The Defence Services Officers Provident Fund
10. The Armed Forces Personnel Provident Fund.

2. Ordered that the Resolution be published in Gazette of India.

sd/-
(H.K. Srivastav)
Director (Budget)

Similar Posts:

• General Provident Fund Interest Rate from April to June 2018
• Interest Rate of General Provident Fund w.e.f. 1.1.2017 – Finmin Orders
• GPF Interest Rate 8% from October 2018
• GPF Interest Rate from Jan 2018 to Mar 2018 – DEA Orders
• General Provident Fund Interest Rate for 1st April to 30th June 2017 – Finmin Orders