Central government employees may receive a significant salary boost due to the 8th Pay Commission, potentially adding ₹19,000 monthly, as projected by Goldman Sachs. The changes aim to benefit around 50 lakh employees and 65 lakh pensioners, with many mid-level staff currently earning nearly ₹1 lakh monthly before taxes.
The government’s budget allocations have a direct impact on salary increases. An NDTV report suggests that a ₹1.75 lakh crore allocation could raise salaries to ₹1,14,600 per month. For ₹2 lakh crore, salaries may reach ₹1,16,700 monthly. The biggest hike could occur with a ₹2.25 lakh crore allocation, potentially increasing salaries to ₹1,18,800 per month.
The 8th Pay Commission has been confirmed by the government, but no official timeline has been provided. There are speculations that it may start in early April and its recommendations could be implemented by 2026 or 2027. Once established, the commission will seek input from employee unions and other stakeholders regarding salary revisions and fitment factors, with unions likely to push for equal or higher fitment factors compared to the previous commission.
The Cabinet approved the 8th Pay Commission on January 16. This government panel regularly suggests salary adjustments based on economic factors. Prime Minister Narendra Modi praised the decision for aiding central government workers in battling rising inflation. He emphasized that the pay commission’s execution would enhance employees’ well-being and increase spending.
Sources News From Various Digital Platforms, Websites, Journalists, And Agencies.
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