The 7th pay commission pay hike recommendation is likely to be approved this Wednesday. Subject to acceptance, the hike will be effective from 01 January 2016. The Commission has recommended for a 30% hike on the basic pay.
Amidst all speculations, here’s the biggest news for government employees! As per the direction given by the PM, the Finance Ministry is likely to implement the pay hike of 7th Pay commission soon. This will be cleared in the Cabinet meeting scheduled to be held on Wednesday.
As per the Budget document, the implementation of the Seventh Pay Commission due from January 1, 2016 is to be implemented during fiscal year 2016-17 as also the revised One Rank One Pension (OROP) scheme for Defence services.
Read more about 7th Pay Commission and how can it affect your income here
Though exact figure is not ascertained yet, the employees are likely to get a hike of 15-20 percent.
The 7th Pay Commission headed by Justice AK Mathur had submitted its report to the Finance Minister in the month of January. The Commission had suggested several recommendations like 24% hike for pensioners and OROP (One Rank One Pension) for central government employees and paramilitary personnel. The Empowered Committee of Secretaries is likely to make comparisons between the recommendations of the 7th pay commission and the comments from various stakeholders. An Implementation Cell has been created in the Finance Ministry to work as the Secretariat of the Empowered Committee of Secretaries.
The pay hike will benefit a total of 98 lakh employees which includes a total of 52 lakh pensioners.
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