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The parents were right, folks; we should have been looking out for a government job, especially if you reside in the startup capital of India. In a move that has left <keyword id="19974189" type="General" weightage="20" keywordseo="private-sector" source="keywords">private sector</keyword> employees green with envy, the <keyword id="19896017" type="General" weightage="20" keywordseo="karnataka" source="keywords">Karnataka</keyword> cabinet on Monday decided to implement the recommendations of the <keyword id="20985744" type="General" weightage="20" keywordseo="Seventh-Pay-Commission" source="keywords" meta.keywordsubtype="org" meta.entityname="Seventh Pay Commission" meta.hostid="261" meta.entityid="Seventh Pay Commission">Seventh Pay Commission</keyword>, resulting in an impressive 27.5% hike in the basic salary of state government employees.<br /><h2><keyword id="20727223" type="General" weightage="20" keywordseo="pay-hike" source="keywords">Pay hike</keyword> like few others</h2>The Chief Minister is expected to make the official announcement in the Legislative Assembly, detailing how over seven lakh state government employees will benefit from this substantial increase starting August 1, as per sources.<br /><br />The Seventh Pay Commission, chaired by former chief secretary K Sudhakar Rao, has recommended this hefty pay rise, which will cost the state exchequer an additional Rs 17,440.15 crore annually. This move comes on the heels of the interim 17% salary hike given by the former Chief Minister Basavaraj Bommai in March 2023, to which the current administration is adding another 10.5%, making the total hike 27.5%.<br />      <div type="Article" hostid="261" msid="111663090" title="The latest trick companies could be using to pay workers less" mstype="2" mssubtype="0"></div>The decision for this remarkable pay raise wasn't just an act of benevolence, however. The Karnataka State Government Employees Association had announced plans to go on an indefinite strike starting August, pressuring the Siddaramaiah government to act decisively. With this hike, the state administration aims to not only meet the demands of its employees but also to bolster morale and productivity within its workforce.<br /><h2>Miles above the average</h2>To put this in perspective, let's compare the raise to the private sector. HR research firm Aon's latest survey indicates that while India Inc. is set to offer an average hike of 9.5% in 2024, the manufacturing sector is expected to be the most generous with a 10.1% increase. Financial institutions come close with a 9.9% hike, and Global Capability Centres (GCCs) of multinational firms are likely to offer 9.8%.<br /><br />Even tech product companies, known for their competitive salaries, are projected to give an average hike of 9.5%. Yet, all these figures pale in comparison to the Karnataka government's increment.<br /><h2><keyword id="21315567" type="General" weightage="20" keywordseo="employee-retention" source="keywords">Employee retention</keyword></h2>As private companies grapple with attrition rates that have almost reached pre-pandemic levels, the Karnataka government's move could be seen as a strategic effort to attract and retain talent. Aon's study shows that attrition in 2023 was 18.7%, a decrease from over 21% in 2021 and 2022. By offering a significant pay hike, the Karnataka government is positioning itself as an attractive employer in a competitive <keyword id="19916569" type="General" weightage="20" keywordseo="job-market" source="keywords">job market</keyword>.<br />        <div type="Article" hostid="261" msid="111115782" title="Flexibility, salary key jobseeker parameters for new roles in India: Report" mstype="2" mssubtype="0"></div>However, even if you look at salary increments across Asia Pacific countries, India's expected average hike of 9.5% is significantly higher than its neighbours. Bangladesh follows at 7.3%, China at 5.7%, and Japan at a modest 3.6%. Karnataka's 27.5% hike, therefore, is not just a national highlight but an extraordinary figure in the broader regional context.<br /><br />In an era where private sector employees are often seen as the beneficiaries of generous pay hikes, Karnataka's state government has flipped the script. With this 27.5% salary hike, the allure of a government job in Karnataka has never been stronger.<br />

Time for a govt job? Karnataka announces impressive 27% pay hike for state employees

An Integrated <keyword id="15096121" type="General" weightage="20" keywordseo="Cryogenic-Engine-Manufacturing-Facility" source="Orion">Cryogenic Engine Manufacturing Facility</keyword> (ICMF) set up by Hindustan Aeronautics Limited (<keyword id="68124" type="General" weightage="100" keywordseo="hal" source="Orion">HAL</keyword>) that would cater to the entire rocket engine production under one roof for Indian Space Research Organisation (<keyword id="6358064" type="General" weightage="20" keywordseo="ISRO" source="Orion">ISRO</keyword>) was inaugurated by <keyword id="14514529" type="General" weightage="20" keywordseo="President-Droupadi-Murmu" source="Orion">President Droupadi Murmu</keyword> in Bengaluru on Tuesday. The state-of-the-art ICMF, set up over an area of 4,500 square metres houses over 70 hi-tech equipment and testing facilities for manufacturing cryogenic (CE20) and semi-cryogenic (SE2000) engines of Indian rockets.<br /><br />In 2013, an MOU was signed with ISRO for establishing the facility for manufacturing cryogenic engine modules at HAL, Aerospace Division, and it was subsequently amended in 2016 for setting up of ICMF with an investment of Rs 208 crore.<br /><br />Karnataka Governor Thaawarchand Gehlot, Chief Minister Basavaraj Bommai, <keyword id="14657097" type="General" weightage="20" keywordseo="ISRO-Chairman-S-Somanath" source="Orion">ISRO Chairman S Somanath</keyword>, HAL Chairman and Managing Director C B Ananthakrishnan, among others were present at the event.<br /><br />The commissioning of all the critical equipment for the manufacturing and assembly requirement has been completed, Bengaluru-headquartered HAL has said, adding that the pre-production activities which involve preparation of the process and quality plans, and drawings, have also commenced.<br /><br />HAL will start realising the modules by March 2023, it said.<br /><br />HAL Aerospace Division manufactures liquid propellant tanks and launch vehicle structures of Polar Satellite Launch Vehicle (PSLV), Geosynchronous Satellite Launch Vehicle (GSLV MK-II), GSLV Mk-III and also stage integration for GSLV MK-II.<br /><br />"The facility (ICMF) will cater to the entire Rocket Engine Manufacturing under one roof for ISRO. It will boost self-reliance in manufacturing of Hi-thrust Rocket engines," the HAL said.<br /><br />Cryogenic engines are the most widely used engines world over in launch vehicles, the statement said. Due to the complex nature of the cryogenic engine, till date only a few countries -- the USA, France, Japan, China and Russia -- have mastered the cryogenic technology.<br /><br />On January 5, 2014 India successfully flew GSLV-D5 with a cryogenic engine and became the sixth country in developing cryogenic engines (made by ISRO through private industries) and became the sixth country in developing cryogenic engines.<br /><br />Space exploration in the future is mostly dependent upon cryogenic technology.<br /><br />On that occasion, the President also laid the foundation stone for the Zonal Institute of Virology (South Zone) virtually.<br /><br />Union Minister of State for Health Bharati Pravin Pawar, Karnataka Health Minister K Sudhakar were also present on the occasion.<br /><br /><strong>SEE ALSO:<br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/indian-markets-take-a-breather-after-huge-sell-off-on-monday/articleshow/94468819.cms">Indian markets take a breather after huge sell-off on Monday</a><br /></strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/heres-why-heart-problems-are-rising-among-young-indians/articleshow/94470756.cms"><strong>Here’s why heart problems are rising among young Indians</strong></a><br />

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Time for a govt job? Karnataka announces impressive 27% pay hike for state employees

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HAL's rocket engine manufacturing facility inaugurated in Karnataka

PTI

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