Centre to set up Commission to examine sub-categorization of OBCs; Creamy layer bar raised to Rs 8 lakh for Central govt

New Delhi: Union cabinet has decided to set up a Commission to examine sub-categorization of OBCs. The commission will handover its report in 12 weeks to the Central government, said Finance Minister Arun Jaitley announcing the decision. The cabinet also took decision to come up with alternative mechanism for consolidation of banks. This will be a ministerial committee, members of which are yet not decided. The other decision is regarding naming of Sampada Yojana as Pradhanmantri Kisan Sampada Yojana. Jaitley also briefed that Creamy layer criteria of Other Backward Class(OBC) which was Rs 6 lakh has been lifted to Rs 8 lakh for the Central government.