7th Pay Commission: 5 fold increase in incentives, RBI rate cut signal good news soon
New Delhi, June 10: A briefing by the expenditure department on the 7th Pay Commission and a rate cut by the Reserve Bank of India has risen the hopes of the Central Government employees.
The CG employees who have been awaiting good news on their basic minimum pay may get some relief soon. The rate cut by the RBI is a clear indication that the government is ready to infuse more money into the market in a bid to increase demand.
In this backdrop, the government is considering increasing the basic minimum pay of the CG employees as it would increase spending. The Finance Minister was recently briefed about the demands made by the CG employees.
There are clear indications that this is being looked into on a priority basis. The government is now keen on taking into account the demands of the CG employees as this would increase the happiness quotient and also increase spending. This would also act as a moral booster for the employees, who in turn would work better, the government also feels.
The demand for an increase in the basic minimum pay has not yet been met. However the government has announced a five fold increase in the incentives of the CG employees, which would be dependant on their degrees.
Those CG employees who get a P.hD or equivalent degree all be given Rs 30,000. Those employees who get a PG Degree or Diploma certificate of a one year duration are entitled for Rs 25,000.
Those who pursue a PG Degree or Diploma of one year or less duration will get Rs 20,000. In addition to this for those CG employees who have a degree or diploma of more than three years in any subject, they would get Rs 15,000 as an incentive. For those CG employees who obtain degree or diploma of a three year or less duration, they would get an incentive of Rs 10,000. This would be applicable to those who obtain degree that is an equivalent as well.
In order to obtain the incentive, CG employees will need to submit their educational qualification details to their respective departments. The departments have fixed guidelines for the same.
The 7th Pay Commission had recommended a basic minimum salary of Rs 18,000. The CG employees have however been demanding an increase of up to Rs 26,000.