Dear Sir,
We can not ignore the fraction derived after dividing the Multiple of 65.738592 by 4. If we don't ignore it the rate of neutralization comes to almost 0.99. So for LIC employees agreement to settle for 1% will mean a wafer-thin gain while the bank employees would be catching up with LIC employees in this respect. LIC employees would do well to ensure continuation of the ratio that was achieved in 2017.
Dattatraya B Deshpande
PS: that is why Shri C H Mahadevan has suggested that the Associations and Unions should ask for (0.08/0.07×1.00)=1.15% for each point over AICPI-IW (BASE 2016=100) 128.63( being the quarrerly average for quarter ending June,2022) wef 01.08.2022.
QE September, 2022 ::130.47
QE December, 2022. ::132.43
QE March, 2023. ::132.93
QE June, 2023. ::135.10
QE September, 2023. ::138.80
QE December, 2023 Awaited
.
R K SAHNI
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