7th Pay Commission latest news: In what could be a massive piece of news for lakhs of central government employees, the Centre could announce 8th Pay Commission when the Union Budget 2023-24 is presented next Wednesday. Union Finance Minister Nirmala Sitharaman will present the budget on February 1.
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The demand to replace 7th Pay Commission rules with 8th Pay Commission has been voiced from several quarters for quite some time now. As per latest reports, buzz is rising among central government employees that the Centre could announce the arrival of 8th Pay Commission in the budget.
Expectations are increasing among central employees regarding this big announcement. If the government does announce 8th Pay Commission, it will bring substantial increase in the salary of central employees, from lowest to highest levels of salary scale.
Moving on to the new pay commission will bring an increase in the basic salary, pay scale as well as allowance of employees. They would also stand to receive increased Fitment Factor boost in the future.
Pay commission rules are generally upgraded for central government employees every 10 years, as per the patterns observed in the three recent 5th, 6th and 7th Pay announcements. It is estimated that the government may announce the 8th Pay Commission in 2023 and implement its recommendations by 2026.
