ABOLITION OF OVERTIME ALLOWANCE IN 7TH PAY COMMISSION: FIN MIN'S STATEMENT IN LOK SABHA.
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
UNSTARRED QUESTION NO: 492
ANSWERED ON: 18.11.2016
Abolition of Overtime Allowance
Will the Minister of
FINANCE be pleased to state:-
(a) whether the expenditure on overtime allowance provided to Government employees had increased from Rs.797 crore to Rs.1629 crore during 2012-13 and if so, the details thereof; and
(b) whether the Government is considering to abolish overtime allowance in Government offices and if so, the details thereof?
MINISTER OF STATE FOR FINANCE (EXPENDITURE)
(SHRI ARJUN RAM MEGHWAL)
(a) Yes Sir. The expenditure of Rs.796.90 crore in 2006-07 was excluding the expenditure on overtime allowance in respect of employees of Union Territories whereas the expenditure of Rs. 1629.02 crore during year 2012-13 is including the expenditure in respect of employees of Union Territories.
(b) The Seventh Central Pay Commission has recommended to abolish OTA (except for operational staff and industrial employees who are governed by statutory provisions) and in case the Government decides to continue with OTA for those categories of staff for which it is not a statutory requirement, then the rates of OTA for such staff should be increased by 50 percent from their current levels. Recommendation of the 7th CPC on allowances are yet to be finalised.
Interest rates on bank deposits are not uniform and vary from bank to bank. Hence, a one-on-one comparison of interest rates may not be possible.
The interest rates on term deposits are deregulated and they are determined by the banks themselves as per their Board approved policies. In contrast interest rates on Small Savings Schemes are administered interest rates linked to G-Sec rate of comparable maturity.
The percentage of savings in the savings schemes in Post Office as on 31.03.2016 is 14.84% of the deposits in the savings schemes of PSBs.
The Government has taken various steps to popularise all the existing schemes by carrying out publicity through print and electronic/Audio Visual media on an all India basis. Jan Dhan Yojana is a scheme of the Government to encourage deposits in banks and promote savings.
This was stated by Shri Arjun Ram Meghwal, Minister of State in the Ministry of Finance in written reply to a question in Lok Sabha today.
PIBDSM/KA (Release ID :153841) (18.11.206)