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7th pay commission: Here's what FM Piyush Goyal announced in Budget 2019

7th pay commission: Union finance Minister Piyush Goyal on Friday in interim Budget 2019 announced som emajor announcements for employees under 7th pay commission matrix. Presenting the Interim Budget for 2019-20 in the Lok Sabha, Goyal said India has been recognised as the brightest spot in the world in last 5 years.

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7th pay commission: Union finance Minister Piyush Goyal on Friday in interim Budget 2019 announced som emajor announcements for employees under 7th pay commission matrix. Presenting the Interim Budget for 2019-20 in the Lok Sabha, Goyal said India has been recognised as the brightest spot in the world in last 5 years.

He further said India is the fastest growing major economy in the world and that the GDP growth in the last 5 years had been higher than under any previous governments.

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Goyal also said the Modi-led NDA government contained double digit inflation and the government has broken the back of high inflation.

FM Piyush Goyal said the Narendra Modi-led government had the decisive mandate to continue structured reforms and it was moving towards realising a "New India by 2022".

Read: Massive boost to agricultural sector in Budget 2019 

Presenting the budget for 2019-20 in the Lok Sabha, Goyal said, "We are moving towards realising New India by 2022." "We have got decisive mandate to continue structured reforms. We have reversed policy paralysis," he added. 

FM Piyush Goyal informed that now the soldiers will get an increased bonus of Rs 7000. Earlier, the bonus amount was Rs 3500. 

Speaking on 7th Pay Commission, Goyal lauded the government for implementing the recommendations for the government employees. He also spoke over the New Pension Scheme (NPS) and said that it has been liberalised.

Read: All you need to know about Budget 2019

Finance Minister further informed that there has been an increase in the gratuity amount from Rs 10 lakh to Rs 20 lakh.

The interim finance minister also announced a Mega Pension Yojana, namely Pradhan Mantri Shram Yogi Mandhan (PMSYM), to provide assured monthly pension of Rs 3000 per month, with contribution of Rs 100 rupees per month, for workers in unorganised sector after 60 years of age.

The PMSYM Will benefit 10 crore workers in unorganised sector and may become the world’s biggest pension scheme for unorganised sector in five years.

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