7th Pay Commission: Three solid reasons, why CG employees will get a pay hike
New Delhi, Nov 22: There are some positive sentiments in the market that could lead to the announcement of some good news where the 7th Pay Commission is concerned.
This comes in the wake of the ongoing deliberations within government circles to increase the salaries of the Central Government employees. What are the positives that could lead to some good news. Let us check out below.
Last month the foreign investment had registered a significant growth. This means that the sentiments are positive and this could add to a massive amount of funds in the coffers of the government.
Rupee and crude
The government is positive about the Rupee strengthening. This could surely help the government further. Added to this is also the falling crude oil prices. The extra money earned could be channelised in a lot of directions, which could also help the Central government employees a hike.
Finances have improved
Government officials say that the financial situation has improved. The issue relating to a pay hike had been put on hold as the financial situation was tight. However the above stated reasons have provided some relief and this is why the deliberations regarding the 7th Pay Commission have begun once again.
New fitment factor:
The 7th Pay Commission had recommended a pay hike of Rs 18,000 with the fitment factor being 2.57 times. The CG employees however had demanded that it be made to 3.68 times as a result of which the basic minimum pay would stand at Rs 26,000. However what the employees can realistically expect is the fitment factor being fixed at 2.85 times only.