7th Pay Commission: Why Economic Survey 2018 suggests a hike is coming
The tabling of the Economic Survey 2018 has given fresh hope that salaries of Central Government employees may be increased beyond the recommendations of the 7th Pay Commission.
There has been an eager and never-ending wait by the CG employees for good news on salary hikes. While there has been some amount of talk that a salary hike would be a possibility, no concrete confirmation has come out in this regard.
Hopes for CG employees rise
After the Finance Minister, Arun Jaitley tabled the Economic Survey 2018, the hopes of the CG employees went up. Analysts say that there is hope since there is no mention of concerns about the fiscal challenges. This itself is a ray of hope for CG employees, analysts also said.
No fiscal challenge mounting
In the last survey, concerns were expressed about the mounting fiscal challenges due to the pay commission. This year however the report is silent about it. Moreover it also speaks about the worst being over and also suggests growth. Analysts say that with the burden not being mentioned the CG employees could hope for some good news.
When will good news come
There are reports suggesting that the government may allocate money for a salary hike in the Budget 2018. This has been widely spoken about in the corridors in Delhi. The proposal would be finalised once Finance Minister Arun Jaitley gives his nod.
7th Pay Commission: No arrears
However reports indicate that if the government increases the salaries beyond the recommendations of the 7th Pay Commission, it is however unlikely to grant arrears. This decision is being taken considering the fact that the burden on the exchequer may increase if arrears are given.