7th Pay Commission: Employees pay demand clearance may be paved by this big happening
7th Pay Commission: The government has so far not given any concrete indication in this regard, but the employees are hopeful that their demand for a hike in fitment factor to 3.68 times with minimum pay scale of Rs 26,000 would be fulfilled as economy is witnessing positive changes. The most recent factor that can be counted is related to better tax collection in indirect taxes through goods and services tax, besides the government has also seen a spike in income tax collections.
7th Pay Commission: Although Central government has implemented the recommendations of the pay panel report for employees and pensioners, they are still waiting for a hike in their salary as well as fitment factor beyond the recommendations as the same has been promised by several Union ministers including Finance Minister and Home Minister. The government has so far not given any concrete indication in this regard, but the employees are hopeful that their demand for a hike in fitment factor to 3.68 times with minimum pay scale of Rs 26,000 would be fulfilled as economy is witnessing positive changes. The most recent factor that can be counted is related to better tax collection in indirect taxes through goods and services tax, besides the government has also seen a spike in income tax collections.
These factors have sent a very encouraging message and along with this are the impending state and general elections next year that may tilt the balance in favour of salary hike beyond 7th pay commission recommendations But, the soundness of the economy would play, no doubt, a very crucial role because the issue of impact on revenues has been raised by even state governments from Tamil Nadu to J&K who are bearing the brunt of fiscal deficit. If the economy grows in a significant manner, the Centre will be able to bear the load of a hike and keep things in control.
Amidst this scenario, Indian Railway employees' union has given a call for a 72-hour relay hunger strike across the country from today against the non-implementation of the provisions of the 7th pay commission. They are also irked over reported move of the government to privatise the national transporter, as the All India Railwaymen's Federation (AIRF) yesterday stated that despite several meetings of the AIRF with leaders of the central government organisations, the government has not taken any decision on their 7th Pay commission linked demands.
The union stated that "Despite requests to the government of India to consider the demands of the Central Government Employees -- improvement in minimum wage and fitment factor after implementation of 7th CPC recommendations, provision of guaranteed pension and family pension to all the NPS (National Pension Scheme) covered employees, irrespective of their date of appointment...Contractorisation leading towards wholesale privatisation, no fruitful outcome has emerged as yet despite lapse of around two years' precious time."
Watch this Zee Business video
According to the Union agitation call, large number of Indian Railway employees would sit on the relay hunger strike to press for their major 7th pay commission linked demands.
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.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
10:51 AM IST