Saturday, February 4, 2023

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7th Pay Commission news: Triple bonanza for government employees in 2023! Know details here

7th Pay Commission news: The year 2022 is going to end and the new year 2023 is about to begin. People are very optimistic about the year 2023. Pensioners and central staff have high expectations for the coming year. According to recent reports, the central government can give its employees and pensioners three gifts in the coming year. Media reports state that the new year would see a rise in the DA of employees, an increase in the fitting factor, and the payment of 18-month DA arrear. The government and pensioners will both receive triple bonus in the coming year.

7th Pay Commission news: DA may increase by up to 4%

Inflation is increasing, it seems that in the new year, the dearness allowance (DA Hike) of central employees can be increased by up to 4 percent. Actually, the dearness allowance of central employees is reviewed every 6 months. Dearness allowance is hiked twice a year on the basis of AICPI figures. One hike takes place in January and the other in July. Like every year, in the year 2023 also there will be an increase in the dearness allowance of central employees. Dearness Allowance (DA) for January 2023 is usually announced before Holi. If the dearness allowance is increased by 4 percent, then the cost of central employees will increase from the current 38 percent to 42 percent. After a four per cent increase in DA in September 2022, now central employees are waiting for an increase in dearness allowance in the new year.

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Big decision on 18 months DA

The issue of DA Arrears of 18 months pending for central employees is still pending. It is expected that in the beginning of the year 2023, the government can solve it by finding a middle way. In fact, the DA of the last 18 months from January 2020 to June 2021, during the Corona period, is still pending. Looking at the demands of the employees’ unions, the government may adopt a middle way in this regard and announce a lump sum amount. If this happens then up to Rs 2.18 lakh can come in the account of the employees.

7th Pay Commission news: Increase in fitment factor

At the same time, the matter of revision in the Fitment Factor of the Central Government is also fast. Central employees are continuously demanding increase in fitment factor. Therefore, after the Union Budget, the government can make a big announcement on increasing the revision in the fitment factor. If there is an increase in the fitment factor, then there can be a big increase in the salary of the employees. At present, fitment factor is being given to central employees at the rate of 2.57 per cent. There is a demand to increase it to 3.68 times. With the increase in fitment factor from 2.57 to 3.68, the minimum basic pay will increase from Rs 18,000 to Rs 26,000. If the central government accepts this demand, then there will be a tremendous increase in the minimum salary of central employees.

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Significantly, the last time the fitment factor was increased in the year 2016. The 7th Pay Commission was also implemented in the same year. At that time the minimum salary of the employees went straight from Rs 6000 to Rs 18,000. While the ceiling was increased from Rs 90,000 to Rs 2.5 lakh. Now the government can again increase the salary of central employees this year.

Read More :- Latest Business News

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