Over 210,000 executives in estimated 240 central public sector undertakings are in for a bonanza with a pay revision committee recommending a massive hike in their annual cost-to-company. The hike ranges between 379 per cent at the highest level and 57 per cent at the lowest across companies and levels.

This is assuming the maximum possible payout an executive can get. The award, if accepted, would mean that government servants, particularly defence personnel, would be paid far less in comparison even if one takes into account the recent hike recommended by the Sixth Pay Commission.

The second PSU pay revision committee, headed by former Supreme Court Justice M Jagannadha Rao, submitted its recommendations on Friday to Minister of Heavy Industries and Public Enterprises Sontosh Mohan Dev.

“We are giving more authority to the companies. They can earn more profit and can share it with their employees,” he said. The report has been sent to the Prime Minister’s Office and the finance ministry. After it is examined, a final proposal will be put up for Cabinet approval. The process could take three-six months.

Shorn of variable components like risk pay and performance-related pay, the effective pay hike works out to between 25 per cent and 40 per cent, according to SM Dewan, director general, Standing Conference of Public Enterprises. “This is a paradigm shift in the government’s thinking on running a business enterprise. It does not put us on a par with private sector companies, but it is a very good beginning,” he added.

The revised salary structure is proposed to come into effect from January 1, 2007.

The proposed pay structure seeks to reduce the disparity between public sector executives and their private sector counterparts and introduce a performance-based compensation culture.

In another far-reaching recommendation, the award calls for complete delinking of public sector and government pay scales. PSU employees are proposed to get much more than government officials.

For instance, the chairman and managing director of a company like ONGC ,NTPC or Bharat Sanchar Nigam Ltd is proposed to be paid Rs 52.20 lakh a year, much more than the annual compensation of Rs 15 lakh (inclusive of all allowances and perks) that a secretary in the central government will get if the Sixth Pay Commission award is implemented in toto.

On a strictly fixed-pay basis, a public sector chairman and director will get Rs 1.25 lakh a month in category A and Rs 65,000 a month in category D companies. In comparison, a government secretary will be paid a fixed Rs 80,000, while the cabinet secretary will be paid Rs 90,000 a month.

The report also recommends that central PSUs be categorised into five (A +, A, B, C, D) based on turnover, manpower and geographical spread.

“We want total delinking of PSUs from the government as we want them to become profitable and strong,” said Board for Reconstruction of Public Sector Enterprises Chairman Nitish Sengupta, who was a member of the committee.

The pay will be split into two components, basic pay and risk pay, with the latter depending on categorisation, profitability and the executive’s grade. Loss-making firms will not be required to shell out risk pay.

Pay panel’s other recommendations

• Employee stock options, linked to performance pay
• Performance-related payout amounting to 40-200 per cent of basic pay
• Risk pay of Rs 1,100 to Rs 25,000 per month
• New pay scale of Rs 65,000 - 75,000 of E-10 in A+ companies
• Sick companies to be allowed pay revision (without risk pay or variable pay) if they make cash profit
• Central PSUs not making cash profits to be examined by the Board for Reconstruction of Public Sector Enterprises
• CMDs and directors of sick central PSUs which have seen a turnaround will retire at 60
• No upper limit on gratuity
• Separate fund for post-retirement medical treatment and to meet emergency needs of those who have retired
• Revision of pay for non-unionised supervisors to be decided by board of directors
• Retirement benefit of 30 per cent of basic pay, which includes CPF, pension, gratuity and post-retirement medical benefits

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BANGALORE: The first ever BJP government in the south will be sworn-in on May 28 with the party almost getting a majority, party sources said here. (Watch interactive map)

B S Yeddyurappa will take oath as Chief Minister, the sources said but refused to share further details.The party, just three short of the magic figure 113 required for a simple majority, said it has the support of four Independents out of the seven who are close to victories.The sources declined to name the Independents who would back the BJP government remarking “they are our rebels”. The election process ends by May 28 on the day the Commission was expected to notify the constitution of the 13th Legislative Assembly in Karnataka.

The BJP has won 110 seats in the 224-member Karnataka Assembly.The Congress won 79 seats while JD(S) remained a distant third bagging 28 seats. In the previous elections, BJP and Congress had won 79 and 65 seats respectively while JD(S) got 58.Others and Independents won seven seats.

Former Chief Minister H D Kumaraswamy of JD(S) won Ramanagaram seat for the second consecutive time beating his nearest BJP rival M Rudresh. Congress’s Mamata Nichhani, daughter of former Chief Minister Ramakrishna Hegde was in the third position. Former minister and Congress heavyweight R V Deshpande lost the Haliyal seat to JDS’s Sunil Hegde by a margin of 5,425 votes.

BJP Chief Ministerial nominee B S Yeddyurappa, former Chief Minister N Dharam Singh (Congress) and KPCC President M Mallikarjun Kharge were among others who maintained comfortable leads over their respective rivals.Congress RPT Congress MP Ambareesh (Srirangapatna) and former Deputy Chief Minister M P Prakash of Congress (Harappanahalli) were the prominent candidates who were behind.In Kumta, Dinakar Keshav Shetty of JD(S) won by a slender margin of 20 votes against his nearest Congress rival.

(Source: timesofindia.com)

The autonomous Jawahar Navodaya Vidyalayas (JNV) performed better than other schools across India and as usual girls outshone boys in the Central Board of Secondary Education (CBSE) Class 12 examination, results for which were declared Friday.

This year, 549,344 candidates appeared for the CBSE Class 12 board exams in India and abroad - an increase of 9.18 percent since last year. The overall pass percentage is 80.91. CBSE chairman Ashok Ganguly said the pass percentage of JNVs is a whopping 92.44 percent followed by 91 percent in Kendriya Vidyalayas (KV). JNVs are autonomous schools under the ministry of human resource development. Ganguly said the continuous good quality teaching in JNVs has helped them overtake KV and occupy number one position in the performance of school category. While the government schools have registered a pass percentage of 81.96 percent, the independent schools, popularly known as public schools, have registered a success rate of 81.68 percent, as against 82.29 percent last year. “The mushrooming of such schools was responsible for the dip in performance. We will look into it,” Ganguly said. In Delhi, where over 100,000 students appeared for the exams, the results in the government schools have gone up from 82.71 percent last year to 85.7 percent this time. Among others, the central Tibetan schools, under the CBSE, have registered a pass percentage of 85.81 percent as against 86.24 percent in 2007. Zone wise, Chennai topped the list with the highest pass percentage of 91.39 percent, followed by Ajmer (85.18 percent), Delhi (83.69 percent), Panchkula (80.8 percent), Allahabad (75.23 percent) and Guwahati (63.24 percent). Ganguly said Allahabad and Panchkula zones faired poorly in the exams as compared to their previous year’s performance. This year as many as 8,252 students have scored 90 percent or above in the examination in which girls once again outshone boys. “The number of students, who have scored above 90 percent, is 8,252. Last year 8,111 students had scored such marks,” said Ganguly. Of the total candidates, who scored 90 percent or above, 4,190 are girls. Of the 384 candidates who scored 95 percent or above, 193 are girls and 191 are boys. The total pass percentage of girls in CBSE Class 12 exams this year is 85.44, while that of boys is 77.59 percent. The CBSE chairman said there was a slight dip in the performance of students in the Gulf region. “While 93.29 percent had passed last year, this year 92.63 percent students were declared successful.’ ‘There was a change in the question pattern this year. The new concept of High Order Thinking Skills (HOTS) can be blamed for the dip in performance,’ Ganguly told IANS. HOTS is an analytical problem solving process, geared to assess the students’ absorption of knowledge and its application. He, however, said that HOTS was a good way to judge the skill and efficiency of students and with time it would benefit students. There were 6,989 candidates from 59 schools in Gulf countries who had appeared for the Class 12 board examinations in March. The number of students securing a ‘perfect score’ - or 100 out of 100 marks in subjects - has come down by over 50 percent. Only 753 class 12 students have scored 100 marks in any subjects as compared to 1,506 in 2007  

Chandigarh, May 22 (IANS) Heavy voter turnout was recorded in by-elections for three assembly seats in Haryana Thursday with over 75 percent of the electorate exercising their franchise. The by-elections were held for the Adampur (Hissar district), Gohana (Rohtak district)and Indri (Karnal district) seats. While Adampur and Indri recorded nearly 80 percent polling, the voting in Gohana was over 70 percent.

(Source : www.theindian.com

There were over 392,000 voters in the three constituencies.

The polling largely passed off peacefully but for a few minor incidents.

In Telanwali polling station in Adampur, the voting process was held up for some time after two groups clashed. A re-poll has been ordered in this polling station and will take place Saturday.

A 3-year-old girl Aastha was killed when she was crushed under the vehicle of Independent candidate Balwan Singh. The vehicle driver fled from the spot.

In Adampur, the election was being seen as a popularity test for Haryana stalwart and former chief minister Bhajan Lal and his new Haryana Janhit Congress (HJC) party. They are opposed to the ruling Congress government led by Bhupinder Singh Hooda.

Voting for by-elections to the Hamirpur Lok Sabha seat in Himachal Pradesh and the Amritsar-south assembly seat in Punjab was also held Thursday.

Counting for these seats will take place May 25.

Voters trickled in slowly in most polling stations in all constituencies. The morning drizzle over most areas in Indri seat initially kept people away.

Thursday’s voting is being watched keenly in political circles of Himachal and Haryana as the fate of Himachal Pradesh chief minister Prem Kumar Dhumal’s son, Anurag Thakur, will be decided in the Hamirpur Lok Sabha seat while Haryana stalwart Bhajan Lal slogs it out to retain his Adampur assembly seat.

Thakur’s victory against his main opponent O.P. Rattan of the Congress is already being seen as a foregone conclusion in Himachal.

The Hamirpur seat - that is witnessing the third election in four years - fell vacant after Dhumal vacated it January this year after becoming the hill state’s chief minister.

In Haryana, the three assembly seats fell vacant after Bhajan Lal and his two supporters - legislators Dharampal Malik (Gohana) and Rakesh Kamboj (Indri) - were disqualified under the Anti-Defection Act for joining a newly floated Haryana Janhit Congress (HJC).

All three were in the fray again in the by-election.

For the Amritsar seat, which saw a direct contest between the ruling Akali Dal and the Congress, over 55 per cent voting was reported by state election officials.

Minor scuffles were reported between Akali and Congress workers.

There was a straight contest in Amritsar between Inderbir Singh Bolaria of the ruling Akali Dal and Navdeep Singh Goldy of the Congress. The Akalis, being in power in the state and also because they had won the seat in the Feb 2007 elections, enjoy an upper hand in the poll.

The seat fell vacant following the death of the sitting Akali Dal legislator Raminder Singh Bolaria.

An informative website (www.pagrihouse.com) is launched by a Sikh youth from Chandigarh. The goal behind this launch is to promote and glamorize Sikh turban especially among young Sikh generation.

Amandeep Singh,the enthusiast says,”Turban is guru’s gift to us and we are so thankful to Guru Gobind Singh ji for blessing his Sikhs with it. This website provides detailed information about Sikh turban in terms of philosophy / history behind Sikh turban and different styles”.

He says he used to travel a lot and found Sikh turban is becoming less popular among Sikh youth especially outside India. One of the possible reasons behind this could be that it is almost impossible to find nice colors with good quality turbans outside India.

A large number of Sikhs outside India just wear black turban without trying different colors and styles. Although it is a very personal choice to wear any color but non availability of cool turban colors is also a major contributor to this decreasing popularity of turban.  “This motivates me to launch this online store so that everyone have access to good quality turban with all color shades, as we can usually find in India especially in Punjab” said Amandeep Singh, promoter of www.pagrihouse.com.

Another motivation is from glamorous Sikhs, especially from former cricketer Navjot Sidhu. His different turbans colors made him so popular not only in India but also all parts of the globe. By making all Sikh turban varieties and colors accessible will create many more Navjot Sidhu, we really hope.  A nice turban with good color combination matching with overall dress provides a unique king like look to Sikhs.

With launch of this website, now it is possible to place orders for Sikh turbans on internet. Users can buy all kind of Sikh turban colors, keskis and variety of turban accessories even without visiting a turban shop. Deliveries are promised all parts of the globe using most economical mode of shipments.

In this era where a significant part of Sikh youth is opting to move away from turban, www.pagrihouse.com is expected to motivate Sikh youth back to glory of turban.

Moving forward, www.pagrihouse.com is planning to organize online turban tying competitions to encourage turban wearing especially among kids.  Sikh kids with unshorn hair and nice turbans are real symbols of sikhi, concludes Amandeep Singh.

So here are some everyday documents that you must read before you sign.

Watch Out for Building Circulars 

Make sure to read those building circulars that come around before you sign them. If you don’t you might just miss an Annual General Body Meeting. Or worse, your neighbour who doesn’t own a car has proposed an increase in the parking charges and you have blindly agreed to it by signing the circular.

Swipe, Read, and then Sign

When you swipe your debit or credit card at a supermarket and the cashier hands you the merchant’s copy to sign, make sure to check the amount he has swiped your card for. Remember, once you sign the slip, that amount will be debited from your account.

Are You a Nominee? 

If your husband is investing in shares, mutual funds or even insurance and is making you a nominee, don’t just sign the papers without reading through everything first. It might take you half an hour but at least you will know what you have signed up for.

To Err is Human

But you really don’t want to pay for someone else’s mistake. So if you have asked someone to draft a letter for you, go through the letter before you sign it. The absence or presence of the word ‘not’ in the letter could change its entire meaning.

Don’t Let the Doc Off Scott Free 

In case your husband, child or parent has to go in for a major surgery where success is not absolutely guaranteed the hospital might ask you to sign certain documents. Go through them carefully to see that the hospital hasn’t completely washed their hands off in case of failure

Baby Check 

When getting an ultrasound you will be required to sign a declaration stating that you will not determine of sex of the child. Though there is usually no issue with the declaration, you could go through it.

Kiddie Matters

Even little things like signing remarks your kids get in school, circulars for donations and sponsorship and declaration forms too matter. Always read the document you are signing on. You don’t want to be eligible to pay Rs.5000/- all of a sudden as school donation.

On the Witness Stand 

Being a witness to someone’s will isn’t as simple as it sounds. There are often multiple copies of the will and you will need to sign them all. But you better make sure that they all read the same because if there is any discrepancy, you could land yourself in a legal wrangle. Also, if you are the benificery of the will , you cannot be a witness.

Backing a Loan? 

If you are becoming a guarantor for your son’s home loan, make sure to read the application thoroughly to find out your liability in case of non-payment or late payment.

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