7th Central Pay Commission: How 2016 is different vs 2008 for macros and markets
"Impact of CPC on Central government's fiscal is likely 0.4 per cent of GDP, which many investors viewed as not a big deal. The impact is however much bigger on states (over 1.1 per cent of GDP)," said UBS in a report.
New Delhi Last Updated: February 5, 2016 | 15:37 IST
The report noted that consumption boost is not guaranteed even with CPC, neither is it surely sustainable beyond 2-3 quarters. Photo: Reuters