The 8th Pay Commission (8th Pay Commission News) for central government employees and pensioners is the hottest topic of discussion these days. Under this, many big decisions are going to be taken for government employees as well as pensioners. These decisions will directly affect their salary, allowances, and pension benefits, and that is why the hopes of crores of people are attached to it.
Earlier, estimates were being made under CPI (Consumer Price Index) regarding Dearness Allowance (DA) of government employees. Now, similarly, new calculations are being done regarding the basic salary under the 8th Pay Commission. Let us know what these new estimates are and by when this good news comes!
What are the latest estimates
Under the 7th Pay Commission, the fitment factor was about 2.57 percent. Under this, the basic salary of government employees was considered to be Rs 18 thousand. Now it is being said that if this fitment factor is increased by 2.57 under the 8th Pay Commission, then there will be a massive increase in the basic salary as well.
Possible jump in basic salary
According to an estimate, if the fitment factor is 2.86 or more, then the basic salary of government employees can increase up to 3 times. This means that the basic salary of central employees can increase from Rs 18 thousand to about Rs 51 thousand.
However, this is only an estimate. No confirmation or any official update has been given by the government or the concerned department regarding the fitment factor yet. But these estimates have increased enthusiasm among the employees.
What is the purpose of the 8th Pay Commission
The Pay Commission is constituted every 10 years. Its main objective is to review the salaries, allowances, and pension benefits given to all government employees and pensioners. It is to ensure that the employees get a fair salary according to the current economic conditions and inflation. About 50 lakh government employees and 65 lakh pensioners are going to benefit from the 8th Pay Commission. This is a very large population whose lives will be directly affected by the decisions of this commission.
What are the major expectations
Employees and pensioners have many big expectations from the 8th Pay Commission. The biggest expectation is for a significant increase in the basic salary. According to initial estimates, the basic salary can be increased from Rs 18 thousand to Rs 26 thousand. This will be a big jump, which will strengthen the financial condition of the employees.
Apart from the basic salary, Dearness Allowance (DA), House Rent Allowance (HRA), and other allowances are also expected to increase, which will further increase the in-hand salary of the employees. Let us reiterate once again that there is no official confirmation about these figures yet. Employees will have to wait for the government’s announcement.