7th Pay Commission: The government has made it clear that now the pay commission system will end for the central employees. Meaning the 8th Pay Commission (8th Pay Commission) will not come. Along with this, the system of fitment factor will also be abolished. Now the new formula will be used for salary.
7th Pay Commission latest news today: The method of pay commission used for the salary of central employees is about to change. The central government has made it clear that the next pay commission will not come. Meaning a new system will be implemented to increase the salary from next time. Its preparations have started. According to exclusive information received from sources by Zee Business Digital, the new system can be implemented in the year 2024. Under this, there will be no long wait for 10 years to increase the salary of central employees. Also, the system of fitment factor can also be abolished.
Salary of central employees will increase every year!
Minister of State for Finance Pankaj Chaudhary recently said in a written reply to a question in the Lok Sabha that the government has no intention of implementing the next Pay Commission. There is no need to wait for 10 years to increase the salary of central employees. Such a system should be made so that their salary keeps increasing every year. Now the question is that if the 8th Pay Commission does not come, then what will be the formula by which the salary of central employees can be increased.
Arun Jaitley’s formula will be used!
In the year 2016, the late Finance Minister Arun Jaitley had said in Parliament that the recommendations of the 7th Pay Commission are being implemented. But, now apart from the Pay Commission, one should consider increasing the salary of central employees. While implementing the recommendations of the 7th Pay Commission, Justice Mathur had also said that the system of Pay Commission is now obsolete. It is not necessary that it should be used only to increase the salary. In such a situation, the central government can soon use the formula of Arun Jaitley to increase the salary of government employees.
Performance linked increment
It is clear from the statement from Minister of State for Finance Pankaj Chaudhary that the next Pay Commission will not come. Now there is a discussion of the formula by which the scale of increasing the salary can be decided. The Ministry of Finance is working on this that the salary of the employees should be increased every year according to their performance linked increment.
‘Automatic Pay Revision System’ is that formula
The government is preparing such a system for 68 lakh central employees and 52 lakh pensioners, when there is automatic revision in salary after 50 percent DA. This system can be named as ‘Automatic Pay Revision System’. This is the same formula that Arun Jaitley wanted to implement. He had also mentioned that there should be revision in the salary of central employees themselves. The department should know how their employee’s performance was and how much dearness allowance they are getting. However, it is too early to say anything clearly in this matter till the final decision comes from the government side.
The system of fitment factor will also end
Under the 7th Pay Commission, when the new formula comes on the salary revision of central employees, then the system of fitment factor will also end in it. Meaning now the fitment factor will also not increase. Under whatever system will be applicable, there will be an increase only at the pay-grade level of the employees. If sources are to be believed, now there is no question of increasing or decreasing the fitment factor. When the new formula to increase the salary is introduced, then the fitment factor will not be needed.
