7th Pay Commission: Modi government has changed the 27-year-old rule of bureaucratic limit of investment in the stock market. Under this rule made in 1992, the Group A and B officials have to give this information to the Central Government on investing more than Rs. 50,000 in stock, debenture or MF (Mutual Fund). But now this limit has been increased to 5x. For the group C and D level executives, this limit is 25 thousand rupees.
The limit of investment in the stock market has increased because of recent government orders,which will be able to exceed Rs. 50 thousand.Group A and B level executives will be able to put their 6 month basic salary in the stock. This is possible because the salary of the employees or officials of every level has increased manifold under the 7th Pay Commission.Read more ↓
Although officials have to tell about the amount invested in the stock market even after increasing the investment limit. According to the news of the Economic Times, in the notification of the government it has been said that if an officer is investing in his basic salary stock market for more than two months, then he has to give this information to the concerned department.
What is the demand for central employees?
The lower level officers of the central government are demanding to increase their basic salary by Rs 18,000. According to the sources, the government can increase the fitment factor of officers up to level 5 before the Lok Sabha elections in 2019. The announcement is possible before the election dates.
Harishankar Tiwari, former president of the AG Office Civil Accounts Brotherhood, said that after the 7th Pay Commission was implemented, the salary of lower-level employees has increased in comparison to the officers. It is an attempt by the government to make this level possible by increasing the fitment factor to lower level employees.