7th Pay Commission: Central government employees basic pay hike may get cleared; check latest developments
The Central government earlier raised the minimum salary to Rs 18,000 for the employees, but they were demanding for a Rs 26,000 pay. They want the fitment factor to be hiked from the current 2.57 times to 3.68 times.
7th Pay Commission: Good news for central government employees may be coming as Centre may increase their long pending demand of a salary hike. With Diwali going by without any news on pay hike, the employees may have something to cheer about soon as the government may increase the salary of these employees in November only. Media reports suggest that the central government is giving serious consideration to the matter.
If the government takes a decision on the 7th pay commission basic salary hike, then over 50 lakh central government employees will be benefited. The reports suggest that a final decision may be taken in the November Cabinet meeting in this regard.
The Central government earlier raised the minimum salary to Rs 18,000 for the employees, but they were demanding for a Rs 26,000 pay. They want the fitment factor to be hiked from the current 2.57 times to 3.68 times. However, the government has not yet responded to the demand. The government accepted the recommendation of the 7th Pay Commission on 29 June, 2016 and thereafter said that it would consider the demands of the staffers favourably, but nothing has emerged so far even though many times the move was shelved at the last moment.
The government did give some good news to staffers recently when it announced a hike in Dearness Allowance (DA) from 12 percent to 17 percent effective from July. The benefits of the DA hike was received by 50 lakh employees and 65 lakh pensioners. Union Minister Prakash Javadekar earlier said that this was the highest DA increase by the government in the past several years.
The government employees are for long demanding a minimum salary and fitment factor hike. They say that the 7th CPC pay was not inflation-adjusted and all the gains from the salary hike were eaten by the price rise.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Andhra Pradesh Lok Sabha Election Winners List 2024: Telugu Desam Party-led alliance clinches victory in AP assembly elections
Maharashtra Lok Sabha Election Results Winner Full List: BJP, allies leading in 20 seats, MVA ahead in 27
Punjab lok sabha election results winners full list 2024 check constituency wise winners and losers candidates name total votes margin bjp congress Shiromani Akali Dal eci gov Gurjeet Singh Aujla Amrinder Singh Raja Amritpal Singh
UP Lok Sabha Election Result LIVE Updates: BJP(34) - INC(7) - SP (36): INDIA alliance gains over NDA in Uttar Pradesh; PM Modi and Rahul Gandhi lead; Smriti Irani trails
Telangana Lok Sabha Election Winners List 2024: Bharat Rashtra Samiti faces major setback, Congress leads
Cochin Shipyard, Engineers India, Bharat Dynamics and NBCC (India): From scaling heights to touching lower circuits, the rise and fall of PSU stocks
17th Lok Sabha Dissolved: PM Narendra Modi submits resignation to President, can he take oath as Prime Minister for the third time?
Gold and Silver rate today (June 3, 2024): Precious metal futures trade under pressure ahead of Lok Sabha election results
Gold and Silver rate today (June 5, 2024): Precious metal futures inch higher; yellow metal above 71,100, white metal was above 89,850
BEL, HAL share price target: Defence stocks under pressure; should you buy or wait? Here's what CLSA says
Kerala Lok Sabha Election Winners List 2024: Shashi Tharoor emerges victorious in Thiruvananthapuram amidst UDF's strong performance
Will NDA form government or will INDIA alliance stake claim? Suspense remains...both fronts have meetings this evening
Lok Sabha Election Results 2024 Live Updates: NDA vs INDIA bloc - Who will form government? Counting to begin at 8 am tomorrow
01:40 PM IST