8th Pay Commission: Good news is coming for central employees. Actually, a new update has come regarding the 8th Pay Commission. The Finance Ministry has made it clear that in the coming days, the salary of central employees will increase with the new formula. Minister of State for Finance Pankaj Chaudhary has given new information in the Lok Sabha. Let us inform that earlier in the year 2016, the recommendations of the 7th Pay Commission were implemented. The 7th Pay Commission was constituted on February 28, 2014.
Minister of State for Finance gave this information in Lok Sabha
According to the report of news agency PTI, Union Minister of State for Finance Pankaj Choudhary told the Lok Sabha on Monday that no proposal to set up the 8th Central Pay Commission for central government employees is yet under consideration with the government. The question was asked to the government whether the central government has any such proposal to ensure the timely formation of the 8th Pay Commission for the central employees. So that it can be implemented on January 1, 2026.
Union Minister said on measures to increase wages in view of rising inflation
Giving information about the measures being taken by the government to increase wages in view of rising inflation, the Union Minister of State for Finance said that due to inflation, the dearness allowance (DA) to the central employees to compensate for the fall in the actual value of the salary. DA) is paid. Not only this, the DA is also revised from time to time every 6 months based on the rate of inflation calculated under the All India Consumer Price Index for workers. 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.
Know what is the new formula
Now the salary of the employees will be decided by the Aykroyd formula. With this, the salary of the employees will be linked to inflation, cost of living and performance of the employee. That is, the promotion of employees will also be done accordingly. However, a Finance Ministry official says that the suggestion is good, but no such formula has been considered so far. On the other hand, there is no confirmation about when the 8th Pay Commission will also come. It is worth noting that earlier 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. Cost of living is also taken into account in this rule. This formula was given by Wallace Rudel Income Tax.
