Stock market & Finance

Today One of the best Cabinet decision is out and they have given approval to Sixth Pay Commission and the income(Pay) Panel may take effect from January 1, 2006 . Arrears to be paid in two installments -- 40 per cent this fiscal and 60 per cent in the next financial year, said Information and Broadcasting Minister P R Dasmunsi .

Income level is also raised Rs 6,660 per month to Rs 7,000 .From now every year pay will raise 3% evey year instead of 2.5% . For ladies they will also try to create flexible job timings and descriptions , so they can improve job conditions .The decision was taken after the Cabinet meet chaired by Prime Minister Manmohan Singh and attended by External Affairs Minister Pranab Mukherjee, Defence Minister A K Antony and Finance Minister P Chidambaram unanimously passed the much awaited new pay commission report. You can download Sixth Pay Commission report file from this link or for more info go here Sixth Pay Commission got approval .