7th Pay commission in 11 key points
Finance Minister Arun Jaitley addressed the media today. Here are the highlights of his speech
The Union Cabinet on Wednesday cleared 7th Pay Commission recommendations for its 47 lakh central government employees and 52 lakh pensioners. The central government employees and workers will get at least 23.5% salary hike.
Finance Minister Arun Jaitley addressed the media today. Here are the highlights of his speech:
1. 7th Pay Commission recommendations will be implemented from January 1, 2016.
2. For the 5th Pay Commission, the government took 19 months to implement and for the 6th Pay commission, the government took 22 months.
3. The 7th Pay commission will cover 47 lakh government employees and 56 lakh pensioners.
4.The basic salary of employee increased from Rs 7000 to Rs 18000 per month.
5. Fitment factor of 2.57 for revising pay of all employees uniformly across all levels.
6. The arrears will be paid this year.
7. The burden of 5th pay commission was Rs 17,000 crore, of 6th pay commission was Rs 40,000 crore and for 7th Pay commission the annual burden of pay, pension and arrears is 1,02,000 crore.
8. As recommended by the 7th Pay Commission, no deduction for group insurance scheme from salary.
9. Looking at the protest by the employees, three groups of experts are formed to decide the allowances.
10.Total DA 125% will be subsumed in the basic salary and then it will be multiplied by 2.5 and then gap will be adjusted.
11.7th pay commission will pay govt employee more that private sector.