Seventh Pay Commission: FM Arun Jaitley announces details, here are highlights

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New Delhi, June 29: The Union Finance Minister Arun Jaitley announced the details of the Seventh Pay Commission after Cabinet okayed it on Wednesday.

All deatils about the much awaited Seventh Pay Commission was announced by Jaitley.

Pay Commission

The decision was taken at a cabinet meeting chaired by Prime Minister Narendra Modi.

Read More: Good News! Seventh Pay Commission: Cabinet clears recommendations

Here are the highlights of the recommendations

  • The Commission has recommended a minimum pay of Rs 18,000 per month, with the upper ceiling at Rs 225,000 a month.
  • The recommendation for the Cabinet Secretary and others at the same pay level is Rs 250,000 a month.
  • The date of implementation for the recommendations is January 1, 2016.
  • The total financial impact of implementing the recommendations in the 2016-17 fiscal is likely to be Rs 102,100 crore as per official estimates.
  • Of this, increase in pay will account for Rs 39,100 crore, increase in allowances will take up another Rs 29,300 crore while pensions will entail an expenditure of Rs 33,700 crore.
  • As estimated by the 7th CPC, the additional financial impact on account of implementation of all its recommendations in 2016-17 will be Rs. 1,02,100 crore.
  •  There will be an additional implication of Rs. 12,133 crore on account of payments of arrears of pay and pension for two months of 2015-16.

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