No amnesty for gold scheme 8212; FM

Sinha said that the government has increased the customs duty on gold recently in order to moderate the import of gold and also to raise some additional revenue. The government does not consider that the increase in import duty will encourage smuggling. However, the field formations/preventive agencies have been alerted to maintain strict vigil against any spurt in smuggling activities.

The minister said that the government expects to realise an additional revenue of around Rs 250 crores in the next financial year. The total quantity of gold likely to be imported in the nextfinancial year will be about 700 tonnes.

Savings: The estimated saving during 1998-99, in terms of terminal benefits payable, will be of the order of Rs 4,300 crore following the enhancement of retirement age of government employees from 58 to 60 years. This savings represent almost 10.14 per cent of the government8217;s total expenditure for the current financial year, Mr Sinha said.

Revision: There was no proposal presently under consideration of the government to revise pay scale of assistants in the central secretariat as demanded by various groups of employees. Sinha said that the board of arbitration under the JCM scheme, has already rejected the demand of revision of pay scale of UDCs.

The minister said that the financial implications in accepting the demand for increasing the transport allowance from a minimum of Rs 100 per month to Rs 400 per month will be substantial. The present resource constraints and the imperative need to minimise administrative expenditure may not permit itsacceptance, he said.

Financial position: In order to strengthen financial position, the Government of India held talks with various countries, including France, Japan and European Community, in the past ten months to seek additional finances for various proposed projects in the country.