7th Pay Commission: Central government employees get boost; here is how
On the 7th Pay Commission side, there is finally some good news and the impact may well be positive. It is now being reported that the Indian economy is growing faster thereby increasing the likelihood of a jump in revenues. And not just that, official data is showing one amazing fact, that may ensure an even rosier future for the economy.
7th Pay Commission: So many news reports have come that can have negative impact on chances of central government employees salaries not being hiked as per the fitment factor of their choice. All of these pertained to the fact that the revenues of the government, whether at central or state level will be impacted adversely. Decision-makers in the central government would be hard-pressed to clear salary hikes at a level being demanded by the government staff, was the gist of it. Whether it was Tamil Nadu, Maharashtra or even, most recently, Jammu and Kashmir, all of them highlighted the fact that the 7th CPC handout will be a very costly exercise even though they took positive steps to implement the same. At the central level the issue still simmers over demands of higher fitment factor hike.
However, on the 7th Pay Commission side, there is finally some good news and the impact may well be positive. It is now being reported that the Indian economy is growing faster thereby increasing the likelihood of a jump in revenues. And not just that, official data is showing one amazing fact, that may ensure an even rosier future for the economy. It has been revealed by EPFO data on the jobs creation front that there has been massive employment generation in the country. EPFO said that 3.11 million people joined this social security fund over the last six months. That indicates economy is into a positive trend and this may well continue. EPFO data showed that 3.11 million workers joined it during the September 2017 to February 2018 period.
With so much action taking place on the jobs creation front, it would give governemnt some leeway to consider central government employees' demands of a salary hike based on a fitment factor of 3.68 times rather than 3.00 times or lower.
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Cast alongside the fact that there are so many elections forthcoming, the reasons for a jump in 7th pay commission salaries are adding up and once adequate momentum builds up, chances of such a decision getting announced rise correspondingly. That is a good news millions of central government employees as well as pensioners would be very anxious to hear.