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Pay Commission, OROP Will NotImpact Fiscal Defcit: Jayant

SinhaNew Delhi: Implementation of One Rank One Pension (OROP) and an

increase in salary bill due to 7th Pay Commission will not strain governments

fiscal position! "inister of #tate for $inance %ayant #inha said on "onday&

'I think we are in a very good shape as far as fiscal management is

concerned& hat was appreciated by all economists!' he said while interacting

with reporters after a meeting of economists which was chaired by $inance"inister run %aitley at *II ayog&

+e made it clear that the governments fiscal position is strong enough to bear 

the impact of OROP and implementation of 7th Pay Commission&

OROP is likely to result in an outgo of Rs ,!---./-!--- crore this fiscal&

he pre.0udget meeting discussed various issues! including agricultureproductivity! 1ob creation and fiscal e2penditure& '3e had some of Indias most

eminent economists and commentators there& Obviously! it is very early in the

cycle to start the consultation& 0ut we felt that if there were good ideas! we

could incorporate them even in this fiscal year& Obviously! for the preparation

of the current budget! we could begin the work on that right now!' he said&

'It was very good interaction and we look forward to incorporating much of this

for this fiscal year as well as coming fiscal&'

here were several topics that came up! "r #inha said! adding that 'one very

important topic that we spent time on is agriculture and what we could do to

increase productivity in agriculture'&

he meeting also dwelt at length on fiscal e2penditure and how to ensure

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fiscal e2penditure! particularly public investment! could be as productive as

possible&

'hird ma1or area that we spoke about is obviously the financial sector&&& more

credit for agriculture! "#"4s and what could we do further to strengthen our banks& he final area that we also spent time on is how to ensure we are able

to create more 1obs for young people! whether it is in the manufacturing sector 

or the service sector!' he said&

*II ayog 5ice.Chairman rvind Panagariya! Chief 4conomic dviser rvind

#ubramanian and Reserve 0ank 6eputy overnor 8r1it Patel were also

present&

SOURCE: NDT PROFIT Published on9 October /:! ;-/< /<9;; (I#)