New Delhi, Aug 27: Although the Finance Ministry has denied any possibility of revising salaries of central government employees beyond what is recommended in the 7th Central Pay Commission (CPC), reports online claim the Centre could announce a new formula for increasing the wages in January 2019.

Reports claim the 7th Pay Commission could be the final pay panel constituted by the government, with the revision of salaries to be done on yearly basis from the next year. The salaries of employees could be increased at an average rate at which it is incremented for their counterparts in the private sector.

Notably, MoS Finance Pon Radhakrishnan, while responding to a query in Rajya Sabha, said the government is not contemplating on any measure which would replace the constitution of the Central Pay Commission.

He further added that no steps are being planned to raise the salaries of employees beyond what has been revised as per 7th CPC recommendations.

The National Joint Council of Action -- a conglomeration of central government employee unions -- has appealed the Centre to revise the salaries of Group C and D employees using 3.86 as the fitment factor.

In July 2016, their salaries were raised using 2.57 as the fitment factor. As per the increment, the minimum wage was raised from Rs 7,000 to Rs 18,000. If the 3.86 fitment factor is applied, the minimum pay would rise to Rs 26,000. "This is the bare minimum we could ask for under the current inflation," said a senior union leader who is privy to the negotiations with the Centre.

(The above story first appeared on LatestLY on Aug 27, 2018 11:53 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).