7th Pay Commission Latest News 2016: Issued This Week Will Implement from August
The Union Finance Ministry of India on Tuesday made an announcement regarding the implementation notification of the Seventh Pay Commission recommendations. The announcement relating to the hike of the basic pay and pension of the central government employees and veterans is expected to be issued later in this week.
After a long wait, the issue on implementation of 7th pay commission is finally scheduled. The issue of notification then this week would benefit 4.8 million central government employees and 5.2 million pensioners with a revised pay from August.
Earlier, on 29th June, Union Cabinet headed by AK Mathur has cleared the recommendations made by the 7th Pay Commission. Arun Jaitley, The Finance Minister in a press conference, said that the recommendation of the commission to increase minimum pay is approved.
As per the approval, the basic monthly salary is Rs 18000, and maximum pay is Rs 2, 50,000. Jaitley also announced that the 2.57 fitment factor would implement for pay revision of all central government employees, and the rate of increment has been continued at 3% annually.
Besides, the CBSE chief Rajesh Kumar Chaturvedi will be given charge of the chief of the implementation cell of the 7th Pay Commission. According to the reports, the Department of Personnel and Training issued an order that states that Mr Chaturvedi will act as Joint Secretary in the implantation cell for three months or till a regular bearer is appointed.
The Seventh Central Pay Commission recommended changes in the pay is expected to reach a total expenditure of 1.02 lakh crore which includes Rs. 28,450 crore in the Indian Railway budget. The revised hike in Seventh Pay Commission will benefit a total of 47 lakh central government onboard employees and 53 lakh pensioners which will effect from August 2016.