7th Pay Commission: No hike inwards minimum pay, No alter inwards fitment percentage too No alter inwards retirement historic current [Modi's I Day speech]
What adjacent for Central authorities employees?
There was a bitter disappointment inwards shop for 50 lakh Central authorities employees too an equal let out of retirees, who conduct maintain been waiting for a hike inwards minimum pay too fitment percentage beyond the 7th Pay Commission recommendations. There was lot of speculation that PM Narendra Modi may reach to a greater extent than or less practiced tidings inwards his terminal Independence Day budget inwards this term equally PM. Many believed that looking at practiced monsoon too positive economical factors, a positive proclamation may come upwards months before the full general elections.
While PM Modi spoke most how Indian economic scheme volition hold upwards a powerhouse inwards adjacent 3 decades, he didn't conduct maintain whatever tidings to offering for the authorities employees.
Minister of State for Finance P. Radhakrishnan before inwards Lok Sabha had said that the Prime Minister's Narendra Modi authorities is non planning to reach whatever hike inwards minimum basic salary beyond the recommendations of the 7th pay commission. However, the Haryana authorities approved pay scale recommendations of didactics too non-teachings staff at authorities universities, authorities universities too govt-aided colleges alongside upshot from Jan 1,2016.
The Maha authorities too has announced a salary hike nether 7th Pay Commission from Jan 2019 for 17 lakh acre employees. . So evidently the Central authorities employees are too hoping for to a greater extent than or less positive news. It may hold upwards noted that the authorities at whatever fourth dimension tin denote such a decision, too it doesn't ask to hold upwards on a especial day. It may come upwards closer inwards the heels to the election.
It is to hold upwards noted though that inwards the hopes of minimum pay hike beyond the recommendations of the 7th CPC powerfulness larn a blow from the Central Bank itself. Earlier this month, RBI decided to increment the policy repo charge per unit of measurement past times 25 footing points to 6.5%. The contrary repo charge per unit of measurement has been hiked to 6.25%, the RBI announced later its three-day Monetary Policy Committee (MPC) meeting.
"RBI's Monetary Policy Committee has decided to increment the policy repo charge per unit of measurement nether the liquidity adjustment facility (LAF) past times 25 footing points to 6.5% Consequently, the contrary repo charge per unit of measurement nether the LAF stands adjusted to 6.25% too marginal standing facility charge per unit of measurement too Bank Rate to 6.75%," the apex banking concern said inwards a statement.
RBI inwards its study mentioned that inflation rates conduct maintain increased on delineate of piece of employment concern human relationship of implementation of 7th Pay Commission. The revised HRA construction came into house inwards July 2017 nether the 7th Pay Commission.
Currently, the Central authorities employees are getting basic pay according to the fitment formula of 2.57 of the basic pay too if this big stride is taken, it volition come upwards equally a massive tidings for the Central authorities employees. Fitment percentage is a figure used past times 7th CPC alongside which the basic pay inwards sixth CPC regime (i.e Pay inwards Pay band + Grade pay) is multiplied inwards lodge to reach basic pay inwards revised pay construction (i.e 7th CPC). Fitment percentage formulated past times 7th CPC is 2.57.
There were talks most Modi raising the retirement historic current of fundamental authorities employees. That too didn't come upwards through
