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OROP to squeeze government finances by Rs 16,000 cr in FY16; to impact fiscal math: HSBC

  • The government has “in principle” accepted OROP – a demand by India’s defence personnel that uniform pension should be paid to armed force retirees with the same rank and same length of service.
  • As per the global brokerage firm, the existing defence pension bill is likely to go up by Rs 10,000 crore, while arrears totalling Rs 12,000 crore will be paid over two years.
  • The deciding factor on whether the fiscal deficit target of 3.9 per cent of GDP is easily met is likely to rest on tax revenue growth.

Source: ET

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