Budget 2016: Government to allocate Rs 1.10 lakh crore for 7th Pay Commission, OROP: Arun Jaitley
"During the financial year 2016-17, the central government has to make provision for about Rs 1.10 lakh crore in order to meet the liabilities on account of implementation of 7th Pay Commission recommendations and OROP Scheme," Jaitley said.
Budget for the next fiscal needs to provide Rs 1.10 lakh crore for implementing the One Rank One Pension (OROP) Scheme and 7th Pay Commission award, besides a higher allocation for the farm sector, Finance Minister Arun Jaitley said on Friday.
Addressing the Consultative Committee attached to the Finance Ministry, he also said that India has potential to grow at a much faster pace even as he exuded confidence that fiscal deficit target for current financial year will be within target.
"During the financial year 2016-17, the central government has to make provision for about Rs 1.10 lakh crore in order to meet the liabilities on account of implementation of 7th Pay Commission recommendations and OROP Scheme," Jaitley said.
SOURCE- DNA
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