FM's Tight Rope Walking and the Pay Commission Implementation
Mr. PC will go down in history as the Finance Minister who had to implement two Central Pay Commission Reports. He was the FM during the last CPC also. During the last year of his current tenure as FM, he is faced with more political problems which are perhaps economic disasters. The silver lining is the Pay Commission is likely to bring in Rs. 5,000 Crores as Income Tax. And all the arrears are going to be spent in buying that bike/car/fridge/AC/washing machine/LCD TV/laptop/any other consumer goods which the government servants were postponing all these days – and this will mean more excise duty – maybe the Government can recover about 50% of what it gives to its employees.