On 27th, the CBDT has issued Instructions for conducting DPCs for all Group-B and Group-C posts of CR and set uniform date of promotions as 5th June 2014. All the CCAs are in hurry to conduct DPCs before the dead line and issue the promotions orders on the day of Joy and Gladness i.e. 5th June 2014.
Though the major chunk of employees are delightful on the issue of Instrucions, a minor group of juniors are little disappointed with a clause. The Board clearly stated that the DPC for RY 2014-15 should be performed only after issue of new RRs. They are in worry because the fate of release of new/revised RRs is known only to the GOD as they are linked with the DOPT' approval and gazette notification. They are restrained from taking consequential posts since the consequential posts fall in the RY 2014-15.
So these people by hook or by cook, trying to give their best shot to exempt RY 2014-15 also from the perview of new/revised RRs.
(There are interesting worth reading comments posted by the readers in the previou post.i.e. SPECULATIONS BECOME REALITY, especially on May 28, 2014 at 8:35 PM and at 8.53 PM. Thanks for valuable contribution. NOW LET US TAKE DIVERSION.)
Let us greet and warm welcome Mr. Arun Jaitly on his assumption of charge as Finance Minister.
Who is Arun Jaitly?
Arun Jaitley (born 28 December 1952) is
currently the Minister of Finance and the Minister of Defence of the Union cabinet
of India in the 16th Lok Sabha. He is a member of the Bharatiya
Janata Party (BJP). He has also previously held the portfolios
as the Union cabinet Minister for Commerce and Industry, Law and Justice in the National Democratic Alliance government
(1998-2004). In the2014 general election, he unsuccessfully
contested as Bharatiya
Janata Party's candidate for Amritsar, where he was defeated byIndian National Congress candidate,
Captain Amarinder Singh.
Personal
life : He
was born to Maharaj Kishen Jaitley and Ratan Prabha Jaitley. Born into
a Punjabi Hindu Brahmin family to a lawyer
fatherhe studied at St. Xavier's School, New Delhi from 1957-69. He
graduated in Commerce from Shri Ram College of Commerce, New Delhi in 1973. He
passed his Law degree from the University
of Delhi, in 1977. During his career as a student, he was
the recipient of several distinctions for his outstanding performances both in
academic and extra curricular activities. He was President of theStudents Union of Delhi University in 1974. Jaitley
has been married to Sangeeta Jaitley since 24 May 1982. They have two children,
a son named Rohan and a daughter named Sonali.
courtesy: Wikepedia.
Will Jaitley be able to raise I-T exemption limit to Rs 5L?
Less than a month before the NDA won the elections with a thumping majority, Arun Jaitley had suggested that the Income Tax exemption limit should be raised to Rs 5 lakh from Rs 2 lakh currently.
There is no doubt that newly-appointed Finance Minister Arun Jaitley has a long list of problems to fix, inflation and fiscal deficit being the biggest headaches among them. There could also be a self-inflicted problem.
This is what he was quoted as saying in a Press Trust of India report dated April 21. Also Read: Jaitley the key man: Gets finance, defence & corp affairs "Direct Tax should be reduced. The Income-Tax limit has to be raised from Rs 2 lakh to Rs 5 lakh. The savings in the pockets of ordinary person by reducing ceiling on Income Tax will lead to increased purchase which in turn will lead to increased VAT and excise duty thereby increasing the revenue."
Now that he has become Finance Minister, Jaitley has a golden chance to convert his words into deeds and become a hero for the middle class. Interestingly, the BJP election manifesto of 2009 spoke about raising the I-T exemption limit to Rs 3 lakh, and an additional exemption of Rs 50,000 for women and senior citizens.
The party's 2014 manifesto did not mention I-T exemption anywhere. Considering that less than 4 percent of the country's population pays personal income tax, raising the exemption limit could cost the new government a good chunk of direct tax revenues at a time when it is struggling to balance its books.
In his election campaigns, Narendra Modi had repeatedly said that rationalizing taxes would be among the key priorities of his party if it were to come to power.
The July Budget may be too early for the government to introduce radical tax reforms. But given the high expectations that the industry and individuals have from Modi & Team, the Finance Minister will be counted upon to make a convincing start.
Courtesy: Moneycontrol.
