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Last Updated: November 22, 2008  197 views

Huge Pay Hike for Central PSU officers

in: India

India-Jobs.JPGWhy working 15 hours per day in a private company? Go for a Government job. You would say “I want more money”. I would say money is a not a problem. Just check out the latest hikes offered by Central Government. You would love to work for them. Actually, this week, the Government of India has announced a huge pay hike for higher executives and non-unionized supervisors of Central Public Sector Enterprises (CPSEs). Their revised pay hike would be effective from January 1, 2007. Besides two to three fold increase in basic pay and allowances, Government has also introduced performance related incentives for officers

The decision was taken in a meeting of Union Cabinet, chaired by Prime Minister Manmohan Singh. This historical decision would benefit about 2.58 lakh executives and over 1.2 lakh non-unionized supervisors in India. However, only executives and workers of profit-making CPSEs would be entitled to implement revised pay structure. Actually this is not a surprised move by Government, the aim behind this hike to minimize attrition rate in CPSEs and lead to increase productivity and efficiency in their work. The new pay-scale will be applicable for all 217 CPSEs, but only 151 profitable companies will be able to implement it. However, on the basis of their present level of profitability, right now only 76 CPSEs would be immediately able to implement the package fully.

Government announced the pay hike on the recommendations of the Committee of Secretaries, in which CPSEs are classified into four categories – A, B, C and D. Check out this snap to know more.

  • 1

    with comments of author revision I pity him since he only goes with news fed to him by news channels or who are giving such news.In fact after 10 years net pay hike for us at low level officers who sweat out day & night in remote areas ,who make economy run in spite of remaining away from families for months is meager 30%.Yes 30% i.e. 3% pa is hike you call it hike??And to top it perks arrears would not be paid as if we are responsible for pay revision delays!!Just go to you will appreciate that how much we are getting in comparison with others specially in oil sector.We are getting peanuts and if like we were getting pension or Sarkari Ghar we would also had no probs with the revision.Realty is after we retire we don’t have any source of income after giving 30 years to nation!!PLEASE do a little research on this & kindly support our cause and expose the propaganda of govt.Jai HIND

    manish on December 23rd, 2008
  • 2

    I would be extremely happy if what is said on the new pay revision for PSU’s is put into practice rather than keeping its employees waiting with their mouths open. It is high time the Government acts on its move. Enhanced Gratuity also should be taken care of in case there is no pension benefit available to a Govt. employee as interest rates have dropped drastically.

    CJG on April 23rd, 2009