As many government employees & pensioners are awaiting the update on 8th Pay Commission, Finance Secretary TV Somanathan’s statement sheds more light on it.
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Many government employees and pensioners are waiting for the announcement of the 8th Pay Commission, which will revise the salaries, pensions and allowances for all Central government employees. Finance Secretary T V Somanathan was on Saturday named as the new Cabinet Secretary by the government for a tenure of two years.He will succeed incumbent Rajiv Gauba, who completes his unprecedented five-year term in the top bureaucratic post this month-end.
After the Union Budget, Finance Secretary TV Somanathan told a news channel that there is time for the pay panel to come into effect. “8th Pay Commission is due on January 1, 2026. We are currently in 2024,” he said.
8th Pay Commission Announcement In Budget 2024
The government did not make any announcement related to the 8th Pay Commission in the Union Budget for financial year 2024-25 which was presented by Finance Minister Nirmala Sitharaman. When the queries regarding 8th Pay commission was made in the Parliament, the Ministry of Finance said that the government is not considering any such proposal on the pay panel currently.
However, according to the report of Uptox, Minister of State (MoS) for Finance Pankaj Chaudhary confirmed that two representations were received for the constitution of the commission in June 2024.
How Pay Commission Is Implemented?
Usually, the pay commissions are formed once in 10 years wherein they revise the overall remuneration of government employees as per the inflation rate & considering other economic factors. The last such panel, 7th Pay Commission, was constituted in February 2014 and its recommendations were implemented from January 1, 2016.
Similarly there were the speculations that the 8th Pay Commission would also be formed 2 years advance i.e. this year of 2024 which is prior to the actual implementation of 2026. But there is no official news about it from the government yet.
