- By Aditya Pratap Singh
- Mon, 18 Nov 2024 02:01 PM (IST)
- Source:JND
8th Pay Commission: Central Government employees and pensioners have been eagerly waiting for the new pay commission pay commission- for a while. For the past two years Over one crore central government employees and pensioners have been anticipating that given the rise in inflation, a new commission is needed so that they can get a significant surge in their salaries.
The employees are soaring their demand for the 8th pay commission is soaring high as the 7th Pay Commission is about to complete its 10 years in January 2026.
8th Pay Commission- When will it likely be formed?
Considering the previous trends, the union government constitutes a pay commission in a span of every 10 years. The 7th Pay Commission, which is the latest and incumbent, was formed in 2014 and the recommendations of it came into effect in January 2016. the 7th Pay Commission was implemented exactly 10 years after the 6th Pay Commission implementation in 2006.
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Central government employees are anticipating and demanding as well that the government should form the 8th Pay Commission soon so that it could be functional in 2026 as the panel will take months to suggest recommendations.
According to several media reports, the 8th Pay Commission might be formed in 2025. However, the government has earlier denied forming a new pay commission.
How 8th Pay Commission Impact Salaries?
The salaries of the government employees were hiked by 23% in the 7th pay commission, however, it was relatively low as compared to the hike in the 6th pay commission.
The media reports claim that the basic salary amount would be around Rs 34,500, a hike of around 16,500 as compared to Rs 18,000, which is the current minimum wage.
DA Hike Formula can be in the 8th pay commission.
Currently, the government employees get a DA hike as per the 7th Pay Commission formula. However, in the 8th pay commission, the formula to increase DA twice a year can be revised.The Economic Survey 2024 also suggested that India’s inflation targeting framework should consider excluding food inflation.