CG employees could get 7th Pay Commission salary from 1st August 2016
The wait of central government employees for the 7th Pay Commission payout may end soon, the possibility of starting to credit their accounts as per the proposed new pay scales from 1st August 2016.
“Central government employees could get the revised pay-scales with their July salaries that may be credited on August 1,” tursted sources close to officials working on the implementation of the 7th Pay Commission report told FeMoney.
However, while there are indications that arrears may also be credited along with revised pay, it is not clear whether the past dues according to the would be given at one go or in instalments.
The exact position is will be cleared after the meeting of the 7th Pay Commission committee, headed by Cabinet Secretary P K Sinha, on June 11 to decide the final contours of the payout plan.
The 7th Pay Commission recommendation, which will come into action with retrospective effect from 1st January 2016, which will result in higher pay package of 47 lakh central government employees and 53 lakh pensioners.
The Commission has recommended a 23.55 per cent hike in pay and allowance. While there will be 16% increase in pay, 63% increase in allowance and 24% increase in pension.
According to reports, the Empowered Committee of Secretaries under Cabinet Secretary has recommended a wage hike of Rs 21,000 and Rs 2.7 lakh for the lower and upper level, respectively. This works out to Rs 3,000 more at lower end and Rs 20,000 more for upper level than what the 7th Pay Commission prescribed.
The impact the 7th Pay Commission recommendations will be to the tune of Rs 1 lakh crore on the government’s exchequer, with the break-up being Rs 73,650 crore on the Union Budget and Rs 28,450 crore on the Railway Budget.
Source: Financial Express