8th Pay Commission: Central government employees will see a sharp spike in their salaries as and when the 8th Pay Commission is implemented by the government. According to a Goldman Sachs, the central government staff may see a hike of Rs 19,000 in their monthly salary after the 8th Pay Commission comes into force. Latest estimates show that the move will benefit close to 65 lakh pensioners and around 50 lakh central government employees.
The current data shows that most of the central government employees at mid-level earn somewhere around Rs 1 lakh per month. This is a pre-tax estimate. Now, with the buzz around the 8th Pay Commission gaining momentum, several reports are doing the rounds on expected increase in the salary hikes. All salary hikes are linked to the budgetary allocation announced by the Centre.
An NDTV report suggests that there will be an increase in salary to Rs 1,14,600 monthly in case of Rs 1.75 lakh budgetary allocation. Similarly, with budgetary outlay of Rs 2 lakh crore, the salary hike is estimated to be Rs 1,16,700 per month. Additionally, at a Rs 2.25 lakh crore budget allocation, the government staff may see increase in their monthly salary to Rs 1,18,800.
While the Centre has confirmed the decision of constituting the 8th Pay Commission, there has been no official timeline regarding when this Central pay Commission will be set up. So far, it is assumed that the Centre may constitute the 8th Pay Commission in first week of April next month with the recommendations coming into force by either 2026 or 2027.
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