7th Pay Commission: You may get higher than recommended pay
Government has already started working to credit hiked salaries on the account of employees from August 1, 2016. Around 48 lakh central employees and 55 lakh pensioners are eagerly waiting for the implementation of the commission.
The Empowered Committee of secretaries led by PK Sinha might submit report the government on June 18, sources said, adding, that they may recommend 30% higher pay than the 7th Pay Commission's submission.
Moreover, these new salaries are expected to be doled out from August 1.
Government has already started working to credit hiked salaries on the account of employees from August 1, 2016. Around 48 lakh central employees and 55 lakh pensioners are eagerly waiting for the implementation of the commission.
Earlier, the Seventh Pay panel had suggested overall 23.55% hike in pay and allowances of govt employees. This panel had recommended minimum basic pay for central govt staff at Rs 18,000 while maximum to be at Rs 2.25 lakh per month.
Also employees, had hopes on central government to credit arrears with revised pay, however, it is not clear whether the past dues will be given to the employees all in one time or in installments.
According to India.com, The 7th Pay Commission will effect the Central Budget by Rs 73,650 crore and the Railway Budget by Rs 28,450 crore.
In April 2016, the 7th Pay Commission’s Empowered Committee of Secretaries met to decide on recommendations before presenting it to the Finance Ministry.
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.