8th Pay Commission:Â Finance Secretary TV Somanathan said that at present no such plan is being considered. There is no planning for the Eighth Pay Commission and it is not even pending.
8th Pay Commission: Before the Lok Sabha elections 2024, central employees and pensioners have got a big shock. A big update has come out regarding the 8th Pay Commission. The Central Government has put a complete stop to the ongoing speculations about implementing the 8th Pay Commission before the Lok Sabha elections. The Central Government has clearly stated that at present there is no intention to implement the Eighth Pay Commission.
No consideration on 8th Pay Commission, review of new pension scheme
Finance Secretary TV Somanathan said that at present no such plan is being considered. There is no planning for the Eighth Pay Commission and it is not even pending. However, he did say that the government is reviewing the new pension scheme. We have consulted all the parties and will soon submit our report on this issue. Will give. Somnath’s answer is raising speculations that along with increasing DA in the upcoming elections, the Modi government may bring a scheme somewhere between the New Pension Scheme and the Old Pension Scheme (OPS), through which a pension will be given to the government employees on their retirement. A large pension amount can be received, although official confirmation is yet to be done. Let us tell you that the Central Government had constituted a committee under the leadership of the Finance Secretary to review the pension scheme.
The government has given this type of answer before also
- It is noteworthy that last year also, Union Minister of State for Finance Pankaj Choudhary, while giving a written reply to the question asked during the Question Hour in the House, had said that the government is not considering the 8th salary yet. There is no proposal before the government to constitute the 8th Pay Commission. At present, the Seventh Pay Commission will continue and under this, employees will be given salary, pension, dearness allowance and other allowances. He was asked whether there is a proposal before the Central Government to constitute the 8th Pay Commission for central employees so that its recommendations can be implemented from January 1, 2026.
- This time also a similar statement has come out from the government before the Lok Sabha elections, that is, at present the 8th Pay Commission will not be implemented. The special thing is that the discussion about the 8th Pay Commission is taking place at a time when recently the AICPI index figures for October have been released by the Labor Ministry, the figures for October have increased by 0.9 points as compared to September. Has reached 138.4, in such a situation, DA is expected to increase once again by about 4 to 5% in January 2024, in such a situation, DA is expected to increase to 50 or 51 percent in the new year, due to which the new salary will be Rs. Discussions regarding consideration of commission or new salary formula have intensified.
That’s why the 8th Pay Commission is being discussed
- Actually, the Central Government revises the DA/DR rates of central employees-pensioners twice a year in January and July, which depends on the half yearly data of AICPI index. New rates have been announced for 2023 and now the next DA will be revised in the year 2024, which will depend on the AICPI index data for July to December 2023.
- Based on the AICPI index data till October, it is estimated that DA may increase by 4 to 5 percent in the new year and DA may cross 50% or more. If DA reaches 50% then the salary of the employees will be revised because with the formation of 7TH Pay Commission, the Central Government had decided the rules for revision of DA that when DA reaches 50%, it will become zero, 50% DA will be given as the existing basic salary. It will be added to DA and the calculation of DA will start from zero. This is the reason that before the Lok Sabha elections, discussion has started again regarding the 8th Pay Commission. The 7th Pay Commission was constituted in 2013, while its recommendations were implemented in 2016. . Till now, a new pay commission has been constituted every 10 years.
