Saturday, March 6, 2021

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After Budget 2018, India 7th Pay Commission Expected to Roll Out Hikes and Profits

Just a few days after the much talked about India Budget 2018, the air is gushing in expectations from the India 7th pay commission. The good news is, unlike the Budget 2018 that was not very well received by the public, India 7th pay commission brings in the news of pay hikes for low-level central government officials. The earlier recommended expectations of the 7th pay commission may well be exceeded.

The Modi-led Government is evaluating the possibility of raising salaries for central government officials in the 7th pay commission. The 7th pay commission is expected to exceed expectations for officials within the matrix level 1-5.

Also Read: Booming Indian Economy: India The 6th Wealthiest Nation In The World

7th Pay Commission, India: A Big Leap for central govt. officials

Currently, the said officials, receive their basic salary in accordance to the 2.57 basic salary fitment formula. The present considerations may bring in a great leap of hike for the government officials, although the official details will only be announced by April 2018. The point to consider here is that even if the fitment formula is revised in the 7th pay commission the hiked salaries will only be rolled out in the next financial year.

The proposal is slated to be reviewed by the Cabinet in the next financial year. However, the good news still remains because the expectations are exceeding the earlier made recommendations. Furthermore, there are suggestions that no pay arrears would be paid to the employees.

Also Read: Why India’s Defence Export Strategy for BrahMos & Tejas is Failing with Make in India?

From Budget 2018 to India 7th Pay Commission

While most people are busy assessing and evaluating their income tax post the Budget 2018, the 7th pay commission seems to bring in a fresh wave of good news.

In other news, Kia Motors make their Indian debut at the much talked about India Auto Expo 2018, with a SP Concept SUV and Honda is slated to introduce a PCX electric scooter and a motorbike for Indian markets.

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