8th Pay Commission: Salary of central employees will increase with the new formula! Finance Ministry made it clear, see in details
8th Pay Commission: While implementing the recommendations of the 7th Pay Commission, Justice Mathur, a member of the commission, had said that the Aykroyd formula should be considered for the pay structure of central employees. With this, you will not have to wait for 10 years for salary revision.
8th Pay Commission: Good news is coming continuously for the central employees. New news has also come about the 8th Pay Commission. The Finance Ministry has made it clear that in the coming time, the salary of employees will increase with the new formula. The recommendations of the 7th Pay Commission (7th Pay Commission) were implemented in 2016. Now 6 years have passed since that point. Now it is discussed that there is no idea to constitute the 8th Pay Commission (8th Pay Commission) to fix the salary of central employees. But, with the new formula, the salary of central employees will be fixed every year. This information has been given by Minister of State for Finance Pankaj Chaudhary in the Lok Sabha.
Minister of State for Finance indicated
Experts also believe that a separate formula from the Pay Commission should be considered. Pankaj Chaudhary said in response to a question that it is true that the government is thinking something different from the 8th Pay Commission (8th Pay Commission) to revise the salary, allowances and pension of central government employees and pensioners. But no consideration is being taken on the 8th Pay Commission yet. He said that there should not be a need for the formation of a Pay Commission to review the salaries, allowances and pensions of central employees and pensioners.
What is the new formula that the Minister of State discussed
The new formula that is being discussed about the increase in the salary of central employees is the Aykroyd formula. With this formula, the salary of the employees will be linked to inflation, cost of living and performance of the employee. Salary will increase only after assessing all these things. All categories of employees will be seen benefiting from this. However, a Finance Ministry official says that the suggestion is good, but no such formula has been considered so far. There is no hint of when the 8th Pay Commission will also come.
7th pay commission also recommended
In his recommendation of the 7th Pay Commission, Justice Mathur had said that we want to decide the pay structure according to the Aykroyd formula. It also takes into account the cost of living. This formula was given by Wallace Rudel Income Tax. He believed that there are two important things for the common man, food and clothes. With the increase in their prices, the salary of the employees should also increase.
Salary will increase every year!
Under the 7th Pay Commission, the central government had increased the minimum salary of the employees from Rs 7,000 to Rs 18,000. Justice Mathur had said in the recommendation that the government should review the salary of central employees every year according to the price index. Although nothing has been said officially from the central government, but there is no discussion about the formation of the 8th Pay Commission.