Pay panel award not to upset fiscal roadmap: Rajan

December 01, 2015 13:48

RBI Governor Raghuram Rajan today said the Seventh Pay Commission recommendations will not upset fiscal maths as additional expenditures will be offset by either surplus revenues or expenditure cuts. In the fifth bi-monthly monetary policy review for 2015-16, the Reserve Bank said the implementation of the Pay Commission proposals, and its effect on wages and rents, would be factored in by the RBI in its future deliberations.

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