INDIA: Pensions Bill May Add Up To More Than Wages

MUMBAI (The Economic Times), December 12, 2007: A recent report attributed to the Comptroller and Audit General (CAG) has indicated that the pension bill for the central government in fiscal 2007-08 could outstrip the wage bill for the serving staff. In 2006-07, government picked up a tab of Rs 39,074 crore for pension liabilities while the expenditure on salaries for the government staff worked out to Rs 40,047 crore. Going by this trend, this fiscal could well see the government spending more on pensioners than on staffers on its rolls. Click to see full report By Shaji Vikraman, Times News Network Copyright © 2007 Times Internet Limited.