7th Pay Commission: Salary hike coming on this date, forget all controversies about fitment factor, pay matrix and more
7th Pay Commission: There has been demand from staff to increase their pay as per the factor that they want rather than the one recommended by the 7th CPC panel or thereafter by the government
7th Pay Commission: So many things have been said about salary hike, fitment factor, pay matrix, even state and central fiscal deficits attached to the move to give government employees a pay hike. Needless to say, it has driven many controversies. Over and above that there has been the demand by staff to increase their pay as per a factor that they want rather than the one recommended by the 7th CPC panel or thereafter by the government. Well, to let everyone know, the modified fitment factor hike is coming and it is coming soon. In fact, the countdown for the same has started already and while the employees may not be enthused, they are set to see their salaries jump by a particular amount.
Yes, the reports emanating from the corridors of power have it that the 7th Pay Commission report based salary hikes will happen by April, 2018. There is a virtual guarantee about it and the governemnt is set to lock the D-day date. What is critical in this is the fact that the 7th CPC salary hike will be according to a fitment factor of 3 times. The difference is that the minimum salary is set to remain at 21,000 rather than the Rs 26,000 that was being demanded by government employees. So, the big news is that staff salaries are set to soar in April, The Sen Times reported. What this means in effect is that seventh pay commission pay matrix level 1 to 5 based salaries are going to rise and that too at a fitment factor of 3.00 times rather than the presently applicable 2.57 times. This big revelation came via an anonymous official source.
There is some good news definitely involved, if this happens, as is being strongly hinted, then it will come after a long wait - the in initial promise by Centre was made in Rajya Sabha on July 19, 2016 when FM Arun Jaitley said he would increase pay over and above recommendations of 7th Pay Commission panel.
The reason why government employees were not happy with the 7th pay Commission report recommendations on hike in salary was because it was the lowest in 70 years. Staff leaders then indicated that it would be impossible to keep up with price rise and that lifestyles would be affected.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.