Finance Commission to wage policy, key decisions taken by Cabinet today

Finance Minister Arun Jaitley with IT minister Ravi Shankar Prasad interacting with media persons during the press conference in New Delhi. (Photo: Dalip Kumar)
The Union Cabinet has approved setting up of 15th Finance Commission and the Terms of Reference for the Commission will be notified in due course, Finance Minister Arun Jaitley informed on Wednesday. The Cabinet has also approved Wage Policy for the 8th round of wage negotiations for workmen in central public sector enterprises. 

Law Minister Ravi Shankar Prasad announced that the Cabinet has also decided to revise the salary of High Court and Supreme Court judges. "Benefits of pay revision to judges will be given from January 1st, 2016," he said. In a mission move for protection for women, the Modi government will set up Pradhan Mantri Mahila Shakti Kendra.

Other key takeaways:

We are going to ensure that a regular winter session is held but we will make sure that the parliament session and election dates don't overlap.: FM Arun Jaitley

Cabinet also approved membership for India of the European bank of reconstruction and development

We signed an important agreement with Russia on combating terrorism & combating organised crime: Union Minister Ravi Shankar Prasad