New Delhi, Mar 24 : The Sixth Pay Commission headed by Justice B.N. Srikrishna today submitted its report to Union Finance Minister P. Chidambaram
Over 4.5 million central government employees are expecting a bounty from the report which is likely to recommend major changes in salaries and terms of employment, including performance-linked pay and incentives.
In his budget speech last month, Chidambaram had said the pay panel's recommendations would meet the legitimate expectations of government employees. The railway budget for 2008-09 has kept aside Rs 5,000 crore for implementing the Sixth Pay Commission's recommendations for its 1.4 million employees.
According to budget estimates of Gross Domestic Product (GDP) for 2008-09, the financial impact of the proposal has been estimated to be within 0.4 per cent of the GDP , which amounts to about Rs 21,000 crore.
The commission was constituted in October 2006 to recommend changes in salary structure of the government employees.