7th Pay Commission Latest News: Lakhs of Central Government Employees may get another good news in the upcoming days. According to some sources, a new formula will be ready to increase the salary in the 8th Pay Commission. Apart from the salary increase from the fitment factor, the new formula can be considered.
Refusal to pay 18 months of DA arrears
The new formula for the 8th Pay Commission is expected to be implemented after 2024. Recently, the Central Government of India refused to give 18 months of DA arrears to the employees. Now all the workers can get relief from the new formula
Cost of living increases every year
The recommendations of the 7th Pay Commission (7th Pay Commission) were implemented by the government in 2016. According to Zee Business sources, the salary of central employees will be fixed every year with the new formula in the 8th Pay Commission (8th Pay Commission). This has not been confirmed by the government. The cost of living is increasing every year. In such a situation, increasing the salary every year would be a better option.
What is the new formula?
Aykroyd formula can be considered for an increase in the salary of central employees. At present, the minimum basic salary of government employees is decided on the basis of the fitment factor. Then on this dearness allowance is revised every six months. But, there is no increase in the basic salary. With the new formula, the salary of the employees will be linked to the inflation rate, cost of living, and performance of the employee. After the assessment of all these things, the salary will increase every year.
Why the need for a new formula?
It is the endeavor of the government that all categories of employees should get equal benefits. Right now there is a big difference in everyone’s salary according to the grade pay. There may be an attempt to reduce this gap with the new formula. There are currently 14 pay grades in government departments. The aim of the government is to improve the living conditions of central employees. The suggestion of a new formula is good, but no such formula has been discussed so far. It is too early to say what will happen in the 8th Pay Commission.
Salary will increase according to the inflation of food and clothing
The increase in salary is very less compared to the ever-increasing inflation. At the time of recommendations of the 7th Pay Commission, Justice Mathur indicated that we want to move the pay structure towards the new formula (Aykroyd Formula). In this, the salary is decided to keep in mind the cost of living. The Aykroyd formula was given by the author Wallace Ruddell Aykroyd. He believed that food and clothes are most important for the common man.