8th Pay Commission date 2023: At a time when lakhs of central government employees are waiting with bated breath for a 4% DA hike, there is a massive buzz around the consideration of the 8th Pay Commission. Earlier last year, the Union Government had denied the claim and stated that there will be no 8th Central Pay Commission to revise salaries, allowances and pensions of Central Government Employees and pensioners. In a written reply, Union Minister of State for Finance Pankaj Chaudhary stated that there is “No” such proposal under consideration. Chaudhary was responding to the question on “whether it is a fact that Government is considering not to constitute 8th Central Pay Commission (CPC) to revise salaries, allowanced and pension of Central Government employees and pensioners.”
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Will the 8th Pay Commission Replace 7CPC?
Though nothing has been confirmed, reports claimed the government is planning to set up the 8th Pay Commission soon. Usually, the pay commission rules for government employees are revised every 10 years. The same pattern was seen during the implementations of the 5th, 6th and 7th Pay Commissions.
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8th Pay Commission Implementation Date
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If reports are to be believed, the 8th pay commission can be introduced in 2024 and might be implemented two years later, i.e, in 2026. Experts are of the view that the government can give this big bonanza to the employees in the wake of the Lok Sabha Elections, expected to be held by May 2024.
4% DA Hike Announcement Likely Today
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Speculations are rife that the first dearness allowance (DA) hike of 2023 for over 50 lakhs Central Government Employees is likely to be announced on March 17, Friday. Earlier it was claimed that the Central Government may announce its decision to hike the DA rate on March 15, however that did not happen.
