Those waiting for the 8th Pay commission, who are Government employees, have got some good news to hear. It is expected that in the nearest future the central government will raise their minimum salary to a considerably higher level. This is of course, on the assumption that things will turn out as planned; employee wages could therefore increase from ₹18,000 to ₹51,480 which would represent an astonishing 186% increase.
Currently, the employees are paid as per the 7th Pay Commission which is 158% more than the 6th Pay Commission. However, should the government agree to a 2.86 fitment factor, this raise might be realized, thus tripling employees salaries.
The Fitment Factor and Its Significance
Shiv Gopal Mishra, Secretary National Council of Joint Consultative Machinery, said that under 8th pay commission the fitment factor may be raised to 2.86 instead of 2.57 percent of 7th pay commission. This increase will enhance the minimum wage from 18000 to a new figure of 51480 for workers. Therefore, government employees should expect an increase in their wages which is approximately thrice the present value of their wages.
Pensions to See a Significant Rise Too
The raise in the fitment factor impact is not only going to affect the salaries but pensions also it is expected. Pensions will rise from ₹ 9000 to ₹ 25740 or as much as 186 percent more of pension amounts if the fitment factor enhances to 2.86 percent. This will help and be a big plus to the retired employees as well in a very big way.
Announcement expected to be made in the next fiscal year November 2022 in the 2025-26 budget.
The government has not officially declared the 8th Pay Commission but according to the prediction of the government it is going to announce it in the 2025-26 budget. The call for the establishment of the commission came during the preparation of the 2024-25 begging, and consultations with cabinet secretaries and finance ministers followed. They can issue a clear announcement when they meet in December 2024, the meeting that should have happened this month but wasn’t.
Recalling the 7th Pay Commission
The reforms are known as the 7th Pay Commission which was formed in 2014 and that came into force from January 2016. In this commission, trophy has enhanced minimum salary from ₹ 7000/-to ₹ 18000/-.
At present,. One crore central government employees and pensioners are availing service by implementing the recommendations of the 7th Pay Commission. In its wake, there is expectation that the 8th Pay Commission will again boost remuneration and pension of civil servants.
