8th pay commission: After officially announced in January 2024, now the 8th Pay Commission is expected to be set up soon. Its purpose is to review the salary, allowances and pension of central government employees and pensioners. This is likely to provide relief to more than 1 crore employees and retired people. But the big question is whether the increasing inflation of today will compete with the salary increased 2.86 times?
What did you learn from the previous pay commissions?
So far, a new pay commission has been implemented every 10 years. The 6th in 2006 and the 7th Pay Commission in 2016 came. During that time the minimum basic salary was increased from Rs 2,750 to Rs 7,000 and then Rs 18,000. Every time the salary and allowances of the employees increased well.
Why has inflation has become a big challenge today?
The economic situation of the country has changed a lot in the last 8 years.
Rent: The fare in cities like Delhi, Jaipur, Bhopal and Lucknow has increased by 40-60%.
Education: Private schools fees have increased by up to 80% in the last 10 years.
Fuel: Petrol prices have crossed Rs 65 to Rs 100.
Health spent: Despite CGHS cover, it is costing Rs 3,000 to Rs 10,000 a month.
Food Products: Prices of wheat, rice, oil and vegetables are continuously increasing.
How much can salary increase?
According to reports, the 8th Pay Commission can decide the fitment factor from 2.28 to 2.86 times. If it is considered 2.86, then if the basic salary of an employee is currently Rs 20,000, then it can increase to Rs 57,200. That is, a total increase of 186% is possible.
When will the 8th Pay Commission be applicable?
No official date has been given by the government yet, but in 2025, a final decision on salary structure, allowances and pension is expected. Employees also want to know whether the fitment factor will be uniform at all levels, so that the salary system can be made more.
On behalf of the employees, NC-JCM Secretary Shiv Gopal Mishra said that the Terms of Reference is expected to be approved from the government soon. At present, millions of employees are waiting for the fact that the 8th Pay Commission can give them some concrete relief during inflation.
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