The Government on Tuesday notified the 7th Pay Commission report, which means Centrral Government Employees will get the new pay boost in their August salaries.
There shall be two dates for grant of increment namely, 1st January and 1st July of every year, instead of existing date of 1st July; provided that an employee shall be entitled to only one annual increment on either one of these two dates depending on the date of appointment, promotion or grant of financial up-gradation.
The recommendations on Allowances (except Dearness Allowance) will be referred to a Committee comprising Finance Secretary and Secretary (Expenditure) as Chairman and Secretaries of Home Affairs, Defence, Health and Family Welfare, Personnel and Training, Posts and Chairman, Railway Board as Members.
Till a final decision on Allowances is taken based on the recommendations of this Committee, all allowances will continue to be paid at existing rates in existing pay structure, as if the pay had not been revised with effect from 1st day of January, 2016.
The Military Service Pay, which is a compensation for the various aspects of military service, will be admissible to the Defence forces personnel only.
As before, Military Service Pay will be payable to all ranks up to and inclusive of Brigadiers and their equivalents.
Short Service Commissioned Officers will be allowed to exit the Armed Forces at any point in time between 7 and 10 years of service, with a terminal gratuity equivalent of 10.5 months of reckonable emoluments.
They will further be entitled to a fully funded one year Executive Programme or a M.Tech. programme at a premier Institute.
Here's a brief snapshot of what this means for government employees.
1. There will be an overall hike of 23.55 per cent in the basic salary and allowances of government employees.
2. The 23.55 per cent overall hike in salaries, allowances and pension would entail an additional annual burden of Rs 1.02 lakh crore, or nearly 0.7 per cent of the GDP, to the exchequer.
5. Entry level pay will be raised to Rs 18,000 a month from the current Rs 7,000.
6. The maximum pay - which is drawn by the Cabinet Secretary, has been fixed at Rs 2.5 lakh a month, up from the current Rs 90,000.
7. This is the lowest pay hike for government employees, in terms of a pay panel report, in the last 70 years.
8. While the Budget for 2016-17 fiscal did not provide an explicit provision for implementation of the 7th Pay Commission, the government had said the once-in-a-decade pay hike for government employees has been built in as an interim allocation for different ministries.
9. Experts said the higher payout will boost consumption, especially of consumer durables and services.
There shall be two dates for grant of increment namely, 1st January and 1st July of every year, instead of existing date of 1st July; provided that an employee shall be entitled to only one annual increment on either one of these two dates depending on the date of appointment, promotion or grant of financial up-gradation.
The recommendations on Allowances (except Dearness Allowance) will be referred to a Committee comprising Finance Secretary and Secretary (Expenditure) as Chairman and Secretaries of Home Affairs, Defence, Health and Family Welfare, Personnel and Training, Posts and Chairman, Railway Board as Members.
Till a final decision on Allowances is taken based on the recommendations of this Committee, all allowances will continue to be paid at existing rates in existing pay structure, as if the pay had not been revised with effect from 1st day of January, 2016.
The Military Service Pay, which is a compensation for the various aspects of military service, will be admissible to the Defence forces personnel only.
As before, Military Service Pay will be payable to all ranks up to and inclusive of Brigadiers and their equivalents.
Short Service Commissioned Officers will be allowed to exit the Armed Forces at any point in time between 7 and 10 years of service, with a terminal gratuity equivalent of 10.5 months of reckonable emoluments.
They will further be entitled to a fully funded one year Executive Programme or a M.Tech. programme at a premier Institute.
Here's a brief snapshot of what this means for government employees.
1. There will be an overall hike of 23.55 per cent in the basic salary and allowances of government employees.
2. The 23.55 per cent overall hike in salaries, allowances and pension would entail an additional annual burden of Rs 1.02 lakh crore, or nearly 0.7 per cent of the GDP, to the exchequer.
5. Entry level pay will be raised to Rs 18,000 a month from the current Rs 7,000.
6. The maximum pay - which is drawn by the Cabinet Secretary, has been fixed at Rs 2.5 lakh a month, up from the current Rs 90,000.
7. This is the lowest pay hike for government employees, in terms of a pay panel report, in the last 70 years.
8. While the Budget for 2016-17 fiscal did not provide an explicit provision for implementation of the 7th Pay Commission, the government had said the once-in-a-decade pay hike for government employees has been built in as an interim allocation for different ministries.
9. Experts said the higher payout will boost consumption, especially of consumer durables and services.
Source:-The Economic Times
No comments:
Post a Comment