8th Pay Commission Implementation: Formation Date, DA Hike, Salary Increase, All You Need to Know
Central government employees eagerly await the establishment of the 8th Pay Commission as the 7th Pay Commission nears the end of its tenure. Introduced by the Manmohan Singh government in February 2014, the 7th Pay Commission’s recommendations were implemented in January 2016.
New Delhi, November 17: Central government employees eagerly await the establishment of the 8th Pay Commission as the 7th Pay Commission nears the end of its tenure. Introduced by the Manmohan Singh government in February 2014, the 7th Pay Commission’s recommendations were implemented in January 2016. With its completion set for January 2026, demands for the next pay panel are intensifying.
The Pay Commission is tasked with reviewing and revising the basic salaries of central government employees. Traditionally formed every decade, the delay in constituting the 8th Pay Commission has raised concerns. Media reports indicate that its formation is imminent, aligning with the timeline observed for previous pay panels. 7th Pay Commission Latest News: 3% DA Hike Approved for Central Government Employees, Good News on Arrears Too.
Expected Fitment Factor and Salary Hike
A key expectation for the 8th Pay Commission is the adjustment of the fitment factor, which determines salary and pension increases. Under the 7th Pay Commission, a fitment factor of 2.57 raised the minimum basic salary from INR 7,000 to INR 18,000. Employee unions, however, had demanded a higher factor of 3.67. 8th Pay Commission Implementation: Know Expected Salary, Pension Revisions and Other Key Details.
For the 8th Pay Commission, a fitment factor of 2.86 is anticipated, according to Shiv Gopal Mishra, Secretary (Staff Side) of the National Council of Joint Consultative Machinery (NC-JCM). If implemented, this would raise the minimum basic salary to INR 51,480 and pensions to INR 25,740, significantly improving earnings for employees and retirees.
When Will 8th Pay Commission Be Formed?
The NC-JCM has submitted multiple memorandums advocating for the prompt establishment of the 8th Pay Commission. Meetings with Finance Secretary Tuhin Kanta Pandey and submissions to Cabinet Secretaries Rajiv Gauba and TV Somanathan have highlighted the urgency of employee demands.
Although speculations arose ahead of the Union Budget 2024-25 about an announcement regarding the 8th Pay Commission, no formal proposal was made. Employees and unions now await an official statement, hoping for timely action to address their concerns.
The formation of the 8th Pay Commission is expected to significantly impact the financial well-being of government employees and retirees, ensuring alignment with current economic realities.
(The above story first appeared on LatestLY on Nov 17, 2024 12:47 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).