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HomePersonal FinanceNew Pay Commission: Biggest update came on the new pay commission, Know...

New Pay Commission: Biggest update came on the new pay commission, Know now what will the government do?

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Salary Hike New System: Employees argue that in view of the current inflation rate, it will be difficult for them to survive with the recommendations for salary increase since 2016.



Update on 8th Pay Commission: At present, about 68 lakh central employees and 52 lakh pensioners are getting the benefit of salary under the 7th Pay Commission. Dearness allowance of employees is increased twice a year in January and July, this is their biggest advantage. The next DA hike (due in January) is expected in March 2023. But in future, a new formula can be brought by the Modi government to increase the salary of the employees.

Government does not agree to bring new pay commission
In the year 2016, the then Finance Minister Arun Jaitley, while speaking on the Pay Commission, said, ‘There should be a new scale to increase the salary of the employees apart from the Pay Commission.’ Sources claim that the Finance Ministry has also not agreed to bring a new pay commission for the employees. The government is going to make such a system, so that the salary of the employees increases on the basis of their performance linked increment.

Employees’ argument – it is difficult to survive on the current salary increase
If sources are to be believed, the government is also working in this direction. Work is being done on such a system in which if the DA is more than 50 percent, there will be automatic revision in the salary. For this ‘automatic pay revision system’ can also be made. The employees argue that in view of the current inflation rate, it will be difficult for them to survive with the recommendations for wage hike since 2016.

When the new system is implemented, the minimum salary of central employees with pay level 1 to 5 can be 21 thousand. By changing the trend of Pay Commission, this time the new formula can be implemented in 2024. Apart from this, news is going on in some media reports about increasing the fitment factor of central employees. If the fitment factor is increased by the government, then there may be problems due to increasing financial burden.

Pravesh Maurya
Pravesh Maurya
Pravesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ businessleaguein@gmail.com
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