7th Pay Commission: This source reveals when central government employees may get pay hike good news
7th Pay Commission: The 11 million strong central government employees and pensioners have been waiting for their pay hike news over and above the recommendations of the official report recommendations for a long time.
7th Pay Commission: The 11 million strong central government employees and pensioners have been waiting for their pay hike news over and above the recommendations of the official report recommendations for a long time. Speculation was rife that Centre may make this 7th CPC pay hike linked announcement this year only, but chances of that happening seem to be dwindling. However, big news may well be coming soon, according to this statement.
Sources in the finance ministry have told ZeeBiz.Com that the government has already finalised the fitment factor and pay hike plan that may mostly be in line with the central government employees demands. However, it has stopped short of making an announcement for now. The prime reason is that state elections are looming and any such announcement now can stir up a controversy that no one wants as it may spoil the situation well into the future.
The sources said the government is likely to make the pay hike announcement on January 26. Also, the general elections are due next year and the government doesn't want to take any added risk at the moment. There are about 48.41 lakh central government employees and 62.03 lakh pensioners who form a huge lobby for the government whose voice needs to be heard.
Currently, central government employees are getting the pay hike as per the fitment factor of 2.57 times recommended by the 7th pay commission. This has set the minimum salary at Rs 18,000. However, the employees are demanding a pay hike as per the fitment factor of 3.68 times which will raise the minimum salary at Rs 26,000. Talk has been bandied about indicating that the pay hike may even be according to a fitment factor of around 3 times.
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It's still not clear what will be the new fitment factor and percentage increase in salary. However, if sources are to be believed, the Centre is all set to put more money into the pockets of the central government employees.
Whether the 7th pay commission fitment factor is raised by 3.68 or 3 times is as yet unclear, although central government employees demand has been for the much higher number.