Revenue
foregone on Excise/Customs,Direct Taxes and Indirect Taxes by the
Central Gov't every year is about Rs5Lac Crores and for the last 9
years, more than Rs30LacCrores lost
Subsidies Vs Revenues Forgone
The Revenue Foregone in Excise/Customs, Direct/Indirect Taxes exceeds Rs5Lac Crore every year. OROP requires Rs8000Cr and Updation of Bank Pensioners Rs1200Cr annually! Gov't after Gov't is so generous towards the Corporates but never kind to the reasonable demands of Pensioners!
The
updation cost of Rs1200Cr can be well taken care of by the Respective
Pension Funds in Banks. Pension Funds are flush with Rs1.58Lac Crores
generating a Net surplus of nearly Rs1200Cr every year. Will the FM look
into the facts and not always be carried away by the ill-borne views of
the Babus in the North Block?
Pension Funds of PSBs as at 31/3/14 (not included due to lack of clarity of image received).
FLASH NEWS
OROP
"It is confirmed that OROP file has finally reached MOD.
Following decisions have been taken in the meeting held on 17 Feb 15.
In most of cases ESM will get fixed at highest of their rank pay band.
OROP equalization will be done annually.
Some issues of Major's pension are under discussion and will be sorted out soon."
Let us hope that the FM may not disappoint the Veterans in his Budget Speech on 28th Feb!
(Courtesy: Perumal Maruthu)