Last Updated: December 01, 2023, 12:37 IST
Govt to arrange 8th Pay Commission quickly?
Recently, there have been discussions round central govt planning to usher in the 8th Pay Commission forward of the Lok Sabha elections 2024.
The central authorities has no plans to arrange the eighth Pay Commission for some 5.4 million central authorities workers and pensioners forward of the nationwide election subsequent 12 months, Finance Secretary TV Somanathan has mentioned.
Recently, there have been discussions across the central authorities planning to usher in the 8th Pay Commission forward of the Lok Sabha elections 2024.
In the previous, within the run-as much as elections, governments have used the establishing or implementation of the Pay Commission as an efficient instrument to win over central authorities workers, armed forces personnel and household pensioners. The seventh Pay Commission was arrange by the Congress-led UPA authorities in September 2013, months earlier than state and common elections.
The BJP, nevertheless, has steered away from such a transfer, as a substitute specializing in a evaluate of a brand new pension scheme that has turn into a degree of competition for brand spanking new state and central authorities workers.
Under the present scheme, workers contribute 10 per cent of their fundamental wage, whereas the federal government pays 14 per cent. It has turn into politically contentious, with a number of opposition-dominated states switching to the previous pension scheme that ensures pensioners 50 per cent of their final drawn wage month-to-month, with none worker contribution.
The authorities arrange a committee led by the Finance Secretary to evaluate the system.
“We have completed consultations with all concerned and our report should be submitted soon,” Somanathan mentioned.
