The salary of government employees will increase in the new formula! Finance Minister gives information in Lok Sabha
New Delhi: Good news is coming in this month for the central employees. There is new information about the 8th Pay Commission. The Ministry of Finance has clarified that the salary of the employees will be increased on the basis of the new formula. Prior to this, the recommendations of the 7th Pay Commission were implemented in 2016. State Finance Minister Pankaj Chowdhury gave new information in the Lok Sabha. The salary of central employees will be fixed every year with the new formula.
According to information, Pankaj Chowdhury, in response to a question, said that the government is thinking differently from the Eighth Pay Commission (8th Pay Commission) to revise the salaries, allowances and pensions of central government employees and pensioners. But still no consideration is being given to the 8th Pay Commission. He said that there is no need to set up a pay commission to review the salaries, allowances and pensions of central employees and pensioners.
Now the salary of the employees will be determined by the Aykroyd formula. With this formula, employee pay will be linked to inflation, cost of living and employee performance. That means the promotion of employees will also be done accordingly. However, an official of the Ministry of Finance said, “This suggestion is good, but no such formula has been considered so far.” On the other hand, there is no information about when the 8th Pay Commission will come.
It is worth noting that earlier in the recommendations of the 7th Pay Commission; Justice Mathur said that we want to fix the pay structure according to the Aykroyd formula. Cost of living is also taken into consideration in this rule. This formula was given by Wallace Rudel Income Tax. Under the Seventh Pay Commission, the minimum salary of central government employees was increased from Rs.7, 000 to Rs.18, 000.