Delhi, December 16: As 2024 nears its end, over one crore central government employees and pensioners eagerly await news on the formation of the 8th Pay Commission. The Confederation of Central Government Employees and Workers recently appealed to Prime Minister Narendra Modi, urging the government to establish the new pay commission without delay.

The workers’ union highlighted that central government employees have been awaiting a wage revision for nearly nine years, with the last pay revision implemented in January 2016. The Confederation noted that rising inflation, currently averaging around 5.5%, and increasing costs of essential and non-essential commodities have significantly impacted employees’ purchasing power. Post-pandemic economic pressures, including higher interest rates, have further strained finances, the union stated. 7th Pay Commission: Central Government Employees Likely to Get 3% DA Hike, Announcement Expected in March.

The Confederation has also requested that the pay structure for central government employees be revised every five years to ensure timely adjustments. 8th Pay Commission: Minimum Salary of Govt Employees Set to Cross INR 50,000? Know Details.

Government Stance and Fitment Factor Speculation

The Union Finance Ministry recently informed the Rajya Sabha that it currently has no plans to establish a new pay commission. However, Shiv Gopal Mishra, secretary of the National Council of Joint Consultative Machinery (NC-JCM), has suggested that the 8th Pay Commission could recommend a fitment factor of at least 2.86.

If implemented, this would increase the minimum basic pay from INR 18,000 to INR 51,480, marking a 186% hike. Similarly, the minimum pension could rise from INR 9,000 to INR 25,740.

Meanwhile, reports speculate that the government might introduce a new mechanism to periodically revise salaries and pensions, potentially replacing the pay commission system. Whether the 8th Pay Commission materialises or a new model is adopted, it remains a crucial issue for employees and pensioners.

(The above story first appeared on LatestLY on Dec 16, 2024 03:04 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).