Keeway RR 300 Launched in India: Check specifications, features, price, design and more
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Time of India
2 hours ago
- Time of India
8th Pay Commission: What could be the expected salary hike, fitment factor, and implementation date? Here's what a new report says
8th Pay Commission: Expected salary revisions 8th Pay Commission: Implementation expected to follow past timelines Impact on government finances and GDP Live Events You Might Also Like: 8th Pay Commission good news: Govt starts discussions on salary hike; check expected basic pay and dearness allowance Previous pay commission effects Consultations underway You Might Also Like: Why 8th Pay Commission may end up disappointing government employees and pensioners 8th Pay Commission: Expected salary hike Dearness allowance mechanism to remain in place Previous CPC set benchmark for revisions (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The 8th Central Pay Commission (CPC) is expected to be implemented by late 2026 or early 2027, according to a report by Kotak Institutional Equities. The government has announced the commission in January 2025 but is yet to finalise the Terms of Reference (ToR) or appoint its estimates that the minimum salary could rise from ₹18,000 to about ₹30,000, reflecting a fitment factor of around 1.8. This would lead to a real increase of nearly 13% in pay for central government employees affected by the revision. A total of around 3.3 million central employees, mostly from Grade C category, are likely to benefit the most. Grade C workers make up nearly 90% of the central government timeline for the 8th CPC is expected to follow the pattern of previous commissions. The 6th and 7th CPCs took around 1.5 years to complete their reports. After that, the government took another 3 to 9 months to implement the recommendations post Cabinet approval. Kotak said, "The 8th CPC is unlikely to be implemented before late 2026 or early 2027."The estimated financial burden of the new pay commission could range between ₹2.4 lakh crore and ₹3.2 lakh crore, or about 0.6–0.8% of India's GDP. While this could add pressure to the fiscal budget, past pay revisions have shown temporary positive effects on the noted that the pay hike may give a brief push to consumption and savings. 'We expect the 8th CPC to provide a temporary boost to consumption and savings,' the firm said. The impact is expected to be visible in sectors like automobiles and consumer staples. However, such gains have typically been firm also said that the revised pay structure may encourage more savings in both physical and financial assets such as equities and bank deposits. Kotak estimates that the pay revision could lead to incremental savings of ₹1–1.5 lakh last major revision, the 7th CPC, combined with the One Rank One Pension scheme, added about two percentage points to India's GDP growth in FY17. While similar growth is not guaranteed this time, Kotak believes the overall economic impact will still be significant, particularly in the short government has not shared further updates on the 8th CPC beyond its announcement in January 2025. Until the ToR and commission members are finalised, the process remains in its early per a report last week, the Ministry of Finance has started holding early consultations with major stakeholders to set up the 8th Central Pay Commission. These talks include departments such as Defence, Home Affairs, and Personnel and Training, along with state governments. These discussions are intended to collect feedback ahead of the official notification of the a written reply in Parliament, Minister of State for Finance Pankaj Chaudhary said, 'Inputs have been sought from major stakeholders, including Ministry of Defence, Ministry of Home Affairs, Department of Personnel & Training and from states.'Chaudhary also told the Lok Sabha that the appointment of the chairperson and other commission members will take place once the 8th CPC is formally constituted. No appointments have been made so upcoming CPC may propose a fitment factor of 1.8 for salary revision. This would be lower than the 2.57 factor adopted in the 7th Pay Commission. While a fitment factor of 1.8 implies an 80% increase in the basic pay structure, the real impact on net salary would be reduced because the existing dearness allowance (DA)—currently around 55%—would reset to zero under the new the fitment factor of 1.8 is accepted, the minimum basic salary may increase from ₹18,000 to around ₹32,000. But after adjusting for current allowances, the actual increment would amount to an estimated 13%. For example, the present ₹18,000 base salary includes a DA component of about ₹9,900. Similarly, a base salary of ₹50,000 may be revised to ₹90,000, but since DA of around ₹27,500 is already included, the effective rise would be twice-yearly revision of dearness allowance is expected to continue under the 8th CPC. The DA, based on the Consumer Price Index for Industrial Workers, protects salaries and pensions from inflation. At present, revisions take place in January and July. By the time the new pay structure is introduced, the DA is projected to exceed 60% of the existing basic 7th Pay Commission, headed by Justice A K Mathur, recommended an overall rise of 23.55% in salaries, pensions, and allowances. The government approved most of the proposals with effect from January 1, 2016. The structure and impact of the 8th CPC are likely to be shaped by current economic conditions and inflation, but will follow broadly the same process, beginning with the collection of inputs from relevant departments and states.
Economic Times
2 hours ago
- Economic Times
CarTrade Tech shares rally 9% to a record high after Q1 profit more than doubles
Shares of CarTrade Tech climbed as much as 9% on Monday, July 28, to a 52-week high of Rs 2,068.85 on the BSE after the company reported a sharp rise in quarterly profit and revenue, driven by growth across all key business segments and higher other income. ADVERTISEMENT CarTrade Tech posted a consolidated net profit of Rs 47.06 crore for the quarter ended June 30, 2025, more than double the Rs 22.90 crore reported in the same quarter last year. Revenue from operations rose to Rs 173.04 crore from Rs 141.52 crore a year ago, according to the company's unaudited financial results approved by its board on Monday. Segment-wise growth The company's revenue is divided into three key verticals, namely Consumer, Remarketing, and Classifieds. In the April–June quarter, Consumer segment revenue stood at Rs 66.38 crore, Remarketing at Rs 59.40 crore, and Classifieds at Rs 48.14 crore. The total segment revenue was Rs 173.92 crore, with intersegment eliminations of Rs 0.88 income contribute meaningfully to the topline during the quarter, rising to Rs 25.46 crore from Rs 15.19 crore a year earlier. This included Rs 6.99 crore from interest on bank deposits, Rs 1.25 crore from gains on fair valuation or sale of financial assets, and Rs 0.40 crore in other interest a standalone basis, CarTrade Tech reported a profit before tax of Rs 29.41 crore and a profit of Rs 22.99 crore for the June quarter. ADVERTISEMENT The stock has gained 36.5% in 2025 so far and is up 139% over the past 12 months. In the last six months alone, it has advanced 51.2%, while the one-month gain stands at 29%. ADVERTISEMENT Technically, the stock is trading above all eight key simple moving averages, from the 5-day to the 200-day, reflecting sustained upward momentum. The Relative Strength Index (RSI) is at 58.1, indicating the stock is neither overbought or oversold. Meanwhile, the MACD is at 72.9 and remains above both the center and signal lines, reinforcing the ongoing bullish trend. Also read | IEX shares slide 9% as market coupling fears continue to drag, brokerages cut targets (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
Economic Times
2 hours ago
- Economic Times
Gurugram startup intern reveals he left home, spent Rs 30,000 for dream job, only to be fired in 23 days; Internet furious
'I regret believing the founder': Intern spends Rs 30,000 to join Gurugram startup, gets sacked in just 23 days (representative image) Synopsis A young intern's dream internship in Gurugram turned into a nightmare after being abruptly dismissed within a month. The intern invested savings and relocated, lured by promises of mentorship and a full-time position. This incident has sparked a debate about whether Indian startups exploit young interns with long hours and underpaid work, only to replace them without justification. Imagine packing your bags, leaving home, spending Rs 30,000 from your savings, and heading to Gurugram for a dream internship, only to be shown the door in just 23 days. That's exactly what happened to a young intern who recently shared their story on Reddit, and now, it's gone viral. ADVERTISEMENT The Reddit user, posting under the name @Regrets_only_, revealed they had moved to Gurugram to work at a startup after being promised mentorship and a full-time job within three months. The expected salary? At least Rs 40,000 per month. But after working 10–12 hours a day, including weekends, things took a turn. The intern was suddenly told their role was no longer needed because a client had backed out. No notice. No warning. Just gone. "I was shocked... I regret believing the founder," the intern wrote, calling the entire experience a disaster. Now jobless and stuck in one of India's most competitive job markets, they're trying to figure out their next step, and they're not story hit a nerve with many online. Several people on Reddit shared similar experiences of being let down by person commented, "Same happened to me. Keep applying on LinkedIn, even if most jobs are fake, you'll get a few calls if you're consistent." ADVERTISEMENT Another advised, 'Don't lose hope. At that time, it was the best decision you could've made. Maybe ask the founder if he knows someone who's hiring.'This story has reignited an old debate, are Indian startups taking young interns for granted? Many of them work long hours, often unpaid or underpaid, only to be replaced without reason. The shiny promise of 'experience' sometimes hides a darker truth. ADVERTISEMENT Disclaimer: This article is based on a user-generated post on Reddit. has not independently verified the claims made in the post and does not vouch for their accuracy. The views expressed are those of the individual and do not necessarily reflect the views of Reader discretion is advised. (You can now subscribe to our Economic Times WhatsApp channel) Disclaimer Statement: This content is authored by a 3rd party. The views expressed here are that of the respective authors/ entities and do not represent the views of Economic Times (ET). ET does not guarantee, vouch for or endorse any of its contents nor is responsible for them in any manner whatsoever. Please take all steps necessary to ascertain that any information and content provided is correct, updated, and verified. ET hereby disclaims any and all warranties, express or implied, relating to the report and any content therein. NEXT STORY
