The Finance Ministry today decided to release the balance 60 per cent of revised pay arrears to all government employees. By the end of September, the government will shell out Rs 17,500 crore to its 50 lakh employees — a kind of mini stimulus before the festival season.
The arrears are part of the Sixth Pay Commission awards that were implemented with retrospective effect from January 1, 2006.
The Department of Expenditure issued a notification asking administrative ministries to release the money sanctioned to them in the Budget for 2009-10. The Department has recommended that employees retain at least a part of the arrears in their government provident fund accounts.
Pensioners too will receive their second instalment of arrears. After these payouts are made, the government will have given its employees a total of nearly Rs 30,000 crore in arrears.
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