In a good news for the Government employees, about 48 lakh employees will get their hiked salaries as per the Seventh pay commission in the financial year 2018-19. Money for which will be allocated in the Budget 2018-19 but the hike will come into effect later in the year.
The fund for the hike in salary is likely to be allocated in the Budget for government employees up to the matrix level 5 under 7th Pay Commission.
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There were reports that this decision was being delayed for the node of Finance minister Arun Jaitley.
Earlier it was reported that Jaitley had said that Government had no such fund to give increased salary.
With the Seventh Pay Commission, the minimum pay will rise from 7,000 to 18,000 whereas the maximum will be increased to Rs.2.5 lakh with a fitment factor 2.57 times. However, the government officials are demanding that the minimum basic pay should be increased to Rs 26,000 with a fitment factor 3.68 times.
The Gazette regarding the payment of the increased salary will be released by the Government.The decision This will come into force from April.
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