7th Pay Commission to be implemented for varsity, college teachers

Cabinet clears pay-hike for central state university teachers

The government on Wednesday extended the benefits of the Seventh Pay Commission for the teaching faculty of central and state universities and aided colleges.

"In addition, the revised pay package will cover teachers of 119 Centrally Funded Technical Institutions viz. IITs, IISc, IIMs, IISERs, IIITs, NITIE".

The approved pay scales will be applicable with effect from January 1, 2016, official Twitter account of the Press Information Bureau said.

The move will benefit 7.58 lakh professors, assistant professors and others, Human Resource Development minister Prakash Javadekar said after a cabinet meeting, where the decision was taken. He said the hike would be anywhere between Rs 10,000 and Rs 50,000.

While the government has chose to hike the basic minimum pay beyond the 7th Pay Commission, there is not much clarity on the arrears.

The Union Cabinet on Wednesday approved the implementations of the recommendations of the 7th Central Pay Commission.

Advanced Micro Devices, Inc. (NASDAQ:AMD), General Electric Company (NYSE:GE)
The semiconductor manufacturer reported $0.02 EPS for the quarter, topping the Zacks' consensus estimate of ($0.02) by $0.04. Discovery Capital Management Llc Ct holds 5.9% of its portfolio in Advanced Micro Devices, Inc . for 19.49 million shares.

Thor: Ragnarok kicks off a three-part story arc for the Hulk
Let's just hope it all works well enough to get all of the necessary parties talking about a Hulk solo movie for after Phase 3. Actor Mark Ruffalo accidentally live-streamed an audio portion of " Thor: Ragnarok " from the upcoming films premiere here.

New York Yankees, Cleveland Indians set for decisive ALDS finale
Indians manager Terry Francona said Encarnacion could play, in a story posted this morning by Cleveland .com's Paul Hoynes. That's why it would really hurt to lose to the New York Yankees in Game 5 of the American League Division Series.

"We want education to improve, to attract good people to the profession".

The implementation of the pay commission recommendations will cost the government an estimated Rs 30,748 crore per year.

Also Read: 7th Pay Commission: GDP growth, inflation to restrict new hike to 17%. The Assistant Professors in the upper grade, who are getting Rs 56,000, will now get Rs 68,000 while a Senior Assistant Professor will now get almost Rs 80,000.

The revised salary of the vice chancellors is now Rs 2.25 lakh per month, instead of current Rs 1.75 lakh per month. The Centre will bear the additional burden of the states on account of revision of pay scales.

According to a statement by the central government, for the state-funded institutions, the revised pay scales will require adoption by the respective state governments.