Recently the international crude oil prices have come down from 145 dollars a barrel to 45 dollars a barrel. This shows how much reduction of 320 % in prices of crude oil, but the petrol and diesel prices have reduced by just 20 to 30%. The reduction in the international crude oil price has not been completely passed on the Indian consumer, the cess on oil has been increased four times and Central Government has already earned a revenue of more than Rs 20,000/- crores. The oil companies have also made enough money by not completely transforming the effect of the international crude oil price fall.
The inflation level has been at 5 %, in actual terms the prices of all commodities should have been reduced due to transportation cost reduction, many public transporters including the Railways , State Road Transport Companies have not passed the reduction in diesel prices. The Consumer Price Index from last five months has been stagnant at 253 points and by this DA expected is 6%. On the ground level the prices of vegetables, fruits and pulses are rising. Enough damage is done on the prices from last decade the prices have risen by over 250% and actual DA we got is just 107%.
To bridge this gap the pay rise should be more than 3.5 times the present wages of Central Government employees and immediate merger of DA and IR for CG employees is the need of the hour. Coming to the paying capacity of the Central Government it is noted that from past six months the revenue of the union of India has increased and due to the fall international crude oil price, the subsidy expenditure on fuel has reduced a lot. The expenditure on Central Government Employees wages has reduced in last decade from 8.8 % of total Expenditure of Central Government in 2001 to just 7.5 % in 2014 just 1.1 % of GDP.
The present overall revenue of the Central Government has also increased to 17.5 lakhs crores and Fiscal deficit of the budget has union budget is contained at just 4.1 % and also industrial growth has also improved in last six months, the climate is very good for 7th CPC recommendations implementation, now it’s right time we strike for our demands.
1 1) DA Merger with effect from 2011.
2) Date of Effect of 7th CPC from 2014 and grant of IR.
3) Minimum wage of Rs 27,000/-