7th Pay Commission Latest News Today: Hike in Fitment Factor After Budget 2023 Presentation?
Central government employees who are receiving 2.57 times fitment factor hike want it to be raised to 3.68 times. If approved, the salary of Central government employee will be Rs 26,000 X 3.68 = Rs 95,680 as per 3.68 times fitment factor.
Mumbai, January 10: Central government employees under the 7th pay commission may receive some good news as the Narendra Modi-led cabinet is likely to take key decisions in New Year 2023. The Centre is likely to increase the Fitment Factor hike and Dearness Allowance (DA) of the government employees. However, an official announcement is awaited.
According to a report in Aaj Tak, the fitment factor raise for Central government employees is likely to take place after the Union Budget in February. The Centre government is all set to present the annual budget on February 1. And if reports are to be believed, the government could take a decision on fitment factor hike post the Budget 2023. 7th Pay Commission: Central Government Employees to Get 4% DA Hike Before Republic Day 2023? Check Latest News Updates Here.
Since a long time, Central government employees have been demanding a raise in fitment factor. The demand to raise fitment factor gained momentum after the Central government raised the Dearness Allowance of its employees by 4 percent in September last year. Central government employees who are receiving 2.57 times fitment factor hike want it to be raised to 3.68 times.
If approved, the salary of Central government employee will be Rs 26,000 X 3.68 = Rs 95,680 as per 3.68 times fitment factor. At present, the salary of a government employee at 2.57 times fitment facto rate is Rs 18,000 X 2.57 = Rs 46,260. Similarly, if the Central government accepts a 3 times hike in fitment factor, then the salary will be Rs 21000 X 3 = Rs 63,000. 7th Pay Commission: Latest AICPI Figure Released, Here’s What It Means For DA Hike in 2023.
Several media reports suggest that the Centre could take a decision on fitment factor hike post the Budget 2023 presentation. Meanwhile, there are questions as to when will Central government employees receive their next DA hike. Going by Centre's decisions, the next DA could be announce anytime soon, however, there seems to be disappointment as the AICPI index has stabilised after November 2022 instead of rising further.
(The above story first appeared on LatestLY on Jan 10, 2023 02:37 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).