New Delhi: In a bonanza for central government employees, the Seventh Pay Commission on Thursday submitted its final report to Finance Minister Arun Jaitley recommending a 23.55 percent jump in their salary and allowances.
If accepted, the employees and pensioners will be richer by Rs 1.02 lakh crore, providing a big boost to the economy though the government finances will stretch the government’s fiscal consolidation drive.
It will benefit 47 lakh serving employees of the government and 52 lakh pensioners. The pay commission has suggested a minimum salary of Rs 18,000 per month and maximum of Rs 2.25 lakh a month for apex scale. Cabinet secretary will get a salary of Rs 2.5 lakh a month.
The Pay Commission headed by Justice A K Mathur has suggested a 16 percent increase over the basic salary plus DA for the central government staff. An increase in allowances like HRA has also been recommended.
The recommendations of the 7th Pay Commission is likely to be effective from January 1, 2016 and will benefits nearly 40 lakh serving Central government employees and more than 55 lakh pensioners. Some recommends of pay commission-
1.Total financial implication to be Rs 1,02,100 cr in FY 2016-17
2. Pay commission recommends new pay matrix, dismantles band structure
3. Max pay recommended at Rs 2,25,000 per month for apex scale and Rs 2,50,000 for cab secy
4. Pay commission for HRA increase by 138.71%
5. Pay commission recommends increase in pensions by 23.63%
6. Pay Commission recommends consolidated pay package of Rs 4.5 lakh and 4 lakh per month for chairperson and members of ..