Budget 2023: The budget session of Parliament will begin on January 31 and Finance Minister Nirmala Sitharaman has to present the Union Budget on February 1, 2023. It is expected that the Finance Minister may announce an increase in the fitment factor in Budget 2023.
Special announcements can be made in the government budget to increase the salary of government employees. Only a few days are left for the presentation of India’s Budget 2023. Government employees, common people, middle class and taxpayers have a lot of expectations from Finance Minister Nirmala Sitharaman’s Union Budget 2023.
Central employees have the highest expectations from this budget as the Lok Sabha elections are going to be held in the year 2024 and this is the last full budget of the Modi government before the Lok Sabha elections. In such a situation, the government can make populist announcements in this budget. Such announcements can be made in this budget which will increase the salary of government employees.
The government may announce the fitment factor in the Union Budget 2023. If this happens then a big hike can be seen in the basic salary of government employees. Presenting the budget on February 1, Finance Minister Nirmala Sitharaman may announce a salary hike for central employees.
Will the salary increase in the budget on February 1, 2023?
The budget session of Parliament will begin on January 31 and Finance Minister Nirmala Sitharaman is to present the Union Budget on February 1, 2023 . It is expected that the Finance Minister may announce an increase in the fitment factor in Budget 2023. Special announcements can be made in the government budget to increase the salary of government employees. Central employees have been demanding a change in the fitment factor for a long time.
Demands have been placed before the government several times
The employees association has held several meetings with the government to increase the fitment factor. If media reports are to be believed, the government wants to implement it as soon as possible. So that, government employees can be wooed at the time of elections. Lok Sabha elections are to be held in the middle of the year 2024. If the government announces to increase the fitment factor in the budget, then if this happens, then there can be a big increase in the salary of the employees.
The salary of government employees will increase by this much
Currently the fitment factor is 2.57 per cent. This means that if someone gets a basic pay of Rs 15,500 in 4200 grade pay, then his total pay will be Rs 15,500×2.57 i.e. Rs 39,835. The increase in the fitment factor from 2.57 per cent to 3.68 per cent will increase the basic salary and the allowances attached to it. The minimum basic salary of the employees will increase from Rs 18,000 to Rs 26,000. This step of the government will benefit about 48 lakh central government employees.
