7th Pay Commission: Modi 2.0 government to announce good news for Central Govt Employees in first budget
7th Pay Commission: Modi 2.0 government to announce good news for Central Govt Employees in first budget
Modi 2.0 government will soon to present its first Union Budget in Parliament. The citizens of the nation are expecting that Modi-led government will again drop a bombshell in the upcoming budget. Especially, the Central Government employees are having hope that they would get a pay hike under the 7th Pay Commission.
Central govt employees are not satisfied with the 7th Pay Commission recommendation regarding the minimum payment. Also, they were rising demand for a long time, a hike of Rs 8000 and also an increase in the fitment factor upto 3.68 times.
Due to this reason, CG employees are having a lot of expectation with this budget and also thinking that Modi government likely to give them good news by fulfilling their demands.
Talking about last year salaries distribution, the recommendation of 7th Pay Commission was considered as a factor that led to the recovery of the Indian Economy.
The increased demand for salary increment in the organized sector after the implementation of the 7th Pay Commission recommendation led to an increase in demand which affected the growth of the Indian economy too.
Recently on June 6, the government has taken a decision to cut the repo rate by 25 basis point after conducting a 3-day meeting of the Monetary Policy Committee which was headed by RBI Governor Shaktikanta Das.
All the six members of the Committee had voted in favor to cut down the repo rate and also changed the stance of the policy from neutral to accommodative.
This decision is giving some indication that the government is planning to infuse more money in the market.
Therefore, there are chances that Central Government employees can expect the salary hike in their minimum pay.
Currently, the minimum pay of the Central employees stands at Rs 18,000 and they were demanding to increase the amount of Rs 8000.
The Union budget will be presented on July 5, 2019, by Finance Minister Nirmala Sitharaman.
To meet the demands of the employees, Nirmala Sitharaman has been holding pre-budget meetings with banks, financial institutions, economists to bring a change in the roadmap of the Indian economy.
Also, Government employees are also expecting that government will also increase in their dearness allowances (DA) by four percent in July 2019 to reach up to 16 percent. If this would be implemented in the upcoming budget then it would be the biggest increase in the DA since 2016 when 7th Pay Commission was implemented.