Big Gift for Central Employees: 8th Pay Commission Approved by Modi Government
The Modi government has given a significant gift to central government employees.
The government has approved the formation of the 8th Pay Commission, which will lead to an increase in salaries and pensions for both serving and retired employee
8th Pay Commission Approved: How Much Will Salaries Increase?
The central government has granted approval for the formation of the 8th Pay Commission for government employees and pensioners, which is expected to benefit millions of people.
Under Prime Minister Narendra Modi’s leadership, the 7th Pay Commission was implemented in January 2016, with its recommendations set to end on December 31, 2025. The tenure of the previous 4th, 5th, and 6th Pay Commissions was 10 years each.
How Much Will Salaries Increase After the 8th Pay Commission?
After the implementation of the 8th Pay Commission, central employees may see a substantial increase in their salaries.
According to reports, the fitment factor could be set at 2.86 this time, which would result in an increase in the minimum basic salary.
This would raise the minimum basic salary to ₹51,480, up from the current ₹18,000. Pensioners are also expected to benefit in a similar manner, with their minimum pension increasing from ₹9,000 to ₹25,740.
How Much Did Salaries Increase After the 7th Pay Commission?
When the 7th Pay Commission was implemented, the salary increase for central employees was the smallest among all previous commissions.
The salary was increased based on the fitment factor, which was set at 2.57 times.
As a result, the minimum basic salary was raised to ₹18,000. If a similar approach is followed in the 8th Pay Commission, the minimum salary could rise to ₹26,000 under the higher range of the fitment factor.
What is the Fitment Factor?
The fitment factor is the formula used to increase the salary and pension of government employees and pensioners.
Based on this formula, the salary is increased at various levels, but it does not include allowances.
How Salaries Increased in Previous Pay Commissions:
- 4th Pay Commission:
- Salary increase: 27.6%
- Minimum salary: ₹750 per month
- 5th Pay Commission:
- Salary increase: 31%
- Minimum salary: ₹2,550 per month
- 6th Pay Commission:
- Fitment factor introduced: 1.86 times
- The highest salary hike: 54%
- Minimum salary increased to ₹7,000 per month
- 7th Pay Commission (2014):
- Fitment factor: 2.57 times
- Salary increase: 14.29%
- Minimum salary increased to ₹18,000
The approval of the 8th Pay Commission is a huge benefit for central government employees and pensioners.
It promises significant salary hikes, with employees potentially seeing their minimum salary increase to ₹51,480 and pensioners receiving a raise to ₹25,740.
With the formation of the 8th Pay Commission, employees can expect better pay and improved financial security, continuing the government’s commitment to supporting its workforce.