8th Pay Commission: After being officially announced in January 2024, the 8th Pay Commission is now expected to be constituted soon. Its purpose is to review the salary, allowances and pension of central government employees and pensioners
8th Pay Commission: After being officially announced in January 2024, the 8th Pay Commission is now expected to be constituted soon. Its purpose is to review the salary, allowances and pension of central government employees and pensioners. This is likely to provide relief to more than 1 crore employees and retired people. But the big question is whether the fitment factor increased by 2.86 times the salary will be able to compete with today’s rising inflation?
What was learned from the previous pay commissions?
So far a new pay commission has been implemented every 10 years. The 6th Pay Commission came in 2006 and the 7th Pay Commission in 2016. During that time, the minimum basic salary was increased from Rs 2,750 to Rs 7,000 and then to Rs 18,000. Every time, there was a good increase in the salary and allowances of the employees.
Why has inflation become a big challenge today?
The economic condition of the country has changed a lot in the last 8 years.
Rent: Rent has increased by 40-60% in cities like Delhi, Jaipur, Bhopal and Lucknow.
Education: The fees of private schools have increased by up to 80% in the last 10 years.
Fuel: Petrol prices have crossed Rs 100 from Rs 65.
Health Expenses: Despite CGHS cover, expenses of Rs 3,000 to Rs 10,000 are being incurred per month.
Food Products: The prices of wheat, rice, oil and vegetables are continuously increasing.
How much can the salary increase be?
According to the news, the 8th Pay Commission can fix the fitment factor from 2.28 to 2.86 times. If it is considered 2.86, then if the basic salary of an employee is currently Rs 20,000, then it can increase to Rs 57,200. That is, a total increase of 186% is possible.
When will the 8th Pay Commission be implemented?
No official date has been given by the government yet, but a final decision on salary structure, allowances and pension is expected in 2025. Employees also want to know whether the fitment factor will be the same at all levels, so that the salary system can be more comfortable.
On behalf of the employees, NC-JCM Secretary Shiv Gopal Mishra said that the Terms of Reference is expected to be approved by the government soon. At present, lakhs of employees are waiting for the 8th Pay Commission to give them some concrete relief in the era of inflation.
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