New Delhi: The 7th Pay Commission award will be cleared in the Cabinet meeting which will take place on Wednesday.
The Prime Minister’s Office (PMO) today directed the Finance Ministry to implement the 7th Pay Commission award, results of which could be termed as a huge bonanza for 4.8 million central government employees and 5.2 million pensioners.
The central government employees are likely to get hike basic pay around 20 per cent.
The implementation of the 7th Pay Commission award is estimated to put an additional burden of Rs 1.02 lakh crore, or 0.7 per cent of GDP, on the exchequer in 2016-17, according to reports.
The basic pay and pension of central government employees will have retroactive effect from January 1, 2016, but the allowances would be paid from the implemented date of 7th Pay Commission.
Finance Ministry official involved with the process of 7th Pay Commission recommendations’ implementation said on Monday that 7th Pay Commission proposal will be placed before cabinet on Wednesday by Finance Minister Arun Jaitley.
Source : Sen Times
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