The
long wait of central government employees for the 7th Pay Commission payout may
end soon with the government working on the possibility of starting to credit
their accounts as per the proposed new pay scales from August 1, 2016.
7th
Pay Commission payout: There are indications that arrears would also be
credited along with revised pay, it is not clear whether the past dues
according to the Commission’s report would be given at one go or in
instalments.The long wait of central government employees for the 7th Pay
Commission payout may end soon with the government working on the possibility
of starting to credit their accounts as per the proposed new pay scales from
August 1, 2016.
“Central
government employees could get the revised pay-scales with their July salaries
that would be credited on August 1,” sources close to officials working on the
implementation of the 7th Pay Commission report told FeMoney.
However,
while there are indications that arrears would also be credited along with
revised pay, it is not clear whether the past dues according to the
Commission’s report would be given at one go or in instalments.
The
exact position is likely to be clear 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 effect with
retrospective effect from January 1, 2016, 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
pay will go up by 16 per cent, increase in allowance will be 63 per cent and
increase in pension 24 per cent.
According
to reports, the Empowered Committee of Secretaries under Cabinet Secretary
Sinha 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 the lower end
and Rs 20,000 more for the upper level than what the 7th Pay Commission
prescribed.
The
impact the 7th Pay Commission recommendations will be to the tune of Rs 1.02
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
: financialexpress
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