7th Pay Commission: Finance Minister Nirmala Sitharaman will present the budget on February 1. This time government employees have high expectations from the budget. It is being said that in the budget, the government can make big announcements for the common people, especially the government employees.
Budget 2024: Government employees have high expectations from the budget. Now that the Ram temple has been inaugurated, all eyes are on the budget to be presented on 1 February 2024. In the budget, the government can make big announcements for the common people, especially the government employees.
Government employees have been demanding for a long time to increase the fitment factor. This time in the budget he hopes that the government can increase the fitment factor.
Elections are going to be held in the country soon-
Elections are going to be held in the country in April-May this year. The budget to be presented on February 1 is an interim budget to be presented before the elections. In such a situation, before the elections, the government can give a bumper increase in the salary of central government employees. It is expected that a decision on fitment factor may also be taken in Budget 2024.
Once approved by the cabinet, it will be included in the budget expenditure. If the central government increases the fitment factor, the salaries of central employees will automatically increase. The fitment factor decides the basic salary for all central government employees. Allowances are also decided on the basis of basic salary.
The salary of government employees will increase by this much-
The fitment factor was last increased in 2016, with the minimum basic pay of employees increasing from Rs 6,000 to Rs 18,000. The possible increase in fitment factor could take the minimum basic pay to Rs 26,000. Currently the minimum basic salary is Rs 18,000, which will increase to Rs 26,000. That is, the basic salary will increase by a minimum of Rs 8,000.
Dearness allowance will increase-
If basic pay increases from Rs 18,000 to Rs 26,000, dearness allowance will also increase. Dearness Allowance (DA) is equal to 46 percent of the basic salary. DA is calculated by multiplying the DA rate by the basic pay. That means, with increase in basic salary, dearness allowance will also automatically increase.
