Central Government Planning to Replace 7th Pay Commission With 8th Pay Commission in 2024? Know How Much Salary Might Increase
Central government employees are eagerly waiting for the next Dearness Allowance (DA) hike on 7th pay commission recommendations. However, in a good news for the employees the government is considering implementing the 8th pay commission soon. This may be done ahead of the lok sabha elections 2024.
Delhi, April 14: Central government employees are eagerly waiting for the next Dearness Allowance (DA) hike on 7th pay commission recommendations. However, in a good news for the employees the government is considering implementing the 8th pay commission soon. This may be done ahead of the lok sabha elections 2024.
A ZeeNews report stated that next year the salary of central employees can increase by more than 44 percent. Along with this, salary can be reviewed on any other formula other than the Fitment Factor. It is expected that the 8th pay commission will see lot of changes compared to the old 7th pay commission. 7th Pay Commission Good News: Centre Likely To Raise Fitment Factor Rate in 2024, Here's How Much Salary Might Increase.
Under the 7th Pay Commission, at present the minimum salary of the employees is Rs 18,000 and the government had implemented the fitment factor for this salary. There was a lot of opposition to this at that time, but Finance Minister Arun Jaitley believed that some new scales should be used to fix the salary of central employees, due to which the fitment factor was implemented, on which Salary of the employees is calculated. 8th Pay Commission To Replace 7th Pay Commission Soon? Centre Likely To Implement New Pay Commission in 2026; Check Latest News Update.
It is important to know that the fitment factor in the Seventh Pay Commission was 2.57 times, after which the salary of the employees increased by 14.29 percent and due to this increase, the minimum salary of the employees was fixed at Rs 18,000. At the same time, under the Eighth Pay Commission, it is believed that this time the fitment factor may be 3.68 times, after which the salary of the employees may increase by 44.44 percent. At the same time, the minimum salary of the employees can directly increase from Rs 18,000 to Rs 26,000.
At present, no proposal of any kind has been presented by the Central Government regarding the 8th Pay Commission. On the other hand, if sources are to be believed, the government can introduce the 8th Pay Commission in the year 2024 and it can be implemented in the year 2026. Let us tell you that to implement this, the Pay Commission can also be formed in the year 2024. Experts are of the opinion that general elections are to be held in the country, so the government can give a big gift to the employees soon.
(The above story first appeared on LatestLY on Apr 14, 2023 02:09 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).