Sunday, June 7, 2020

Revenue dip may nudge T’gana to raise retirement age


Revenue dip may nudge T’gana to raise retirement age

Roushan.Ali@timesgroup.com  07.06.2020

Hyderabad: With revenues taking a big hit due to the economic slowdown and subsequently the lockdown due to coronavirus, the Telangana government’s decision to raise retirement age from 58 to 60 is now looking more likely. The move is estimated to save the government as much as ₹4,000 crore per annum.

Should the move materialise, the government will not have to pay gratuity, leave encashment, commutation and other retirement benefits in lump-sum thus resulting in huge savings. The finance department is currently working out the details and will send a report to chief minister K Chandrasekhar Rao who will then take a decision.

Many had been expecting most retirements to take place in the months of February and March instead of June.

Telangana non-gazetted officers’ association president K Ravinder Reddy told TOI that it was high time for the chief minister to implement his promise of enhancing retirement age.

Full report on www.toi.in

No comments:

Post a Comment

NEWS TODAY 21.12.2024