Indian railways will be paying a higher dividend of Rs5,479 crore during the current fiscal despite over Rs3,000 crore dip in cash surplus on account of higher wage bill following implementation of the Sixth Pay Commission award.
Unveiling the rail budget for 2009-10, railway minister Mamata Banerjee said, “The Railways paid their full dividend liability of Rs4,717 crore in 2008-09 and will pay an even higher dividend of Rs5,479 crore in 2009-10.”
[adsense]
The railways will be paying higher dividend despite the adverse “impact of increase in working expenses due to the Sixth Pay Commission and sluggishness in earnings due to the economic slowdown”.The cash surplus of the railways during the current fiscal is expected to dip to Rs14,201 crore from Rs17,400 crore in the previous fiscal, mainly on account of higher wage bill during the year.
According to Banerjee, the railways disbursed Rs13,600 crore during 2008-09 towards implementation of the Sixth Pay Commission recommendations.For the current fiscal, she said, “After having absorbed the impact of the Sixth Pay Commission, to the extent of Rs14,600 crore in 2009-10, the cash surplus before dividend of the railways work out to Rs14,201, net revenue of Rs8,121 crore and operating ratio of 9.25%.”
Related posts:
- Govt approves 6 pc hike in dearness allowance | DA Hike
- 3 lakh Class IV employees to get benefit of 6th pay panel
- Now, judges demand pay hike | Six Pay Commission
- Rajasthan State Govt hikes DA(Dearness Allowance) by 10% – September 2010
- UP govt to implement 6th Pay Commission report
- Uttar Pradesh employees get pay parity with central government
- Uttar Pradesh | Govt school staff may get allowances as per Sixth Pay Panel report
- Latest from Indian Initiatives
- Cabinet to decide on judges’ pay hike
- UP govt to implement 6th Pay Commission report
- Cabinet approves pay revision for central public sector enterprises | Snowballing Effect
- Many govt employees still to get pay arrears
- Pay panel: Three Member Committee yet to decide Lt Colonel pay
- Pay parity for armed forces a difficult task: Govt
- Goa Scholarship Programme For Diaspora Children (GSPDC) For Higher And Technical Studies In Goa: Goa
- 10 pc hike in Central government employees and pensioners’ DA
- Strike, violence across India on Teachers’ Day | Six Pay Commission Aftermath
- Teachers’ strike hits classes | Six Pay Commission
- Its politics!
- Bonanza for Bihar’s 500,000 government employees
[...] Railways to pay higher dividend despite dip in cash surplus [...]