8th Pay Commission: When Will Govt Employees Get A Salary Hike? Check Details
The report stated that, following approval, the 8th Pay Commission's recommendations are anticipated to be implemented in FY27, potentially increasing government salaries and pensions by 30-34%.
8th Pay Commission Fitment Factor
Even as the 8th Central Pay Commission is yet to be constituted, a report suggests that the fitment factor is expected to be fixed in the range of 1.83 to 2.46. Fitment factor is the multiplier used to revise basic pay in a new pay commission.
'As per back-of-the-envelope calculations, depending on the salary growth seen over different Pay Commissions, the range of fitment factors that the government could be looking at lies between 1.83 and 2.46," financial services firm Ambit Capital said in a report.
The fitment factor is a multiplier used by the government to revise the basic salary of employees when a new Pay Commission is implemented. It helps determine the new pay by applying the factor to the existing basic salary.
For example, if an employee's current basic salary is Rs 18,000 and the fitment factor is 2.0 (just for example), the revised basic salary would be Rs 36,000 (Rs 18,000 × 2.0). This does not include allowances like HRA or DA, which are calculated separately and increase overall take-home pay further.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
21 minutes ago
- Indian Express
Changing City: Ulwe Coastal Road, key infra project in Navi Mumbai, readying for launch next year
As Navi Mumbai prepares to take its next step in connectivity, the Ulwe Coastal Road (UCR) has been identified as an infrastructure project that will redefine urban transport in the Mumbai Metropolitan Region (MMR). The 5.8-kilometre six-lane road with a 1.2-kilometre elevated stretch is being constructed by the City and Industrial Development Corporation of Maharashtra Limited (Cidco) to link Belapur to the Mumbai Trans Harbour Link (MTHL) at Shivaji Nagar and enhance connectivity further to the new Navi Mumbai International Airport (NMIA). The Ulwe Coastal Road is planned as a mega feeder road connecting Navi Mumbai to the mega infrastructure projects, according to Cidco. Starting at Amra Marg in Belapur and following the Ulwe coast to join the MTHL junction, the road will provide high-speed direct connectivity from Mumbai to Navi Mumbai, particularly for those travelling to the NMIA. The highway runs through developing areas such as Seawoods, Ulwe, Bamandongri, and Targhar, which are poised to witness aggressive growth once the Navi Mumbai airport becomes operational. The Ulwe Coastal Road is being planned with both capacity and environmental considerations. The highway will have three lanes on either side, with unhindered vehicular movement. A 1.2-kilometre elevated section will pass over sensitive mangrove areas, and a special railway overbridge will enable people to skip bottlenecks at tracks on the Nerul-Uran route. Cidco's proposal provides for smooth integration with the MTHL, giving Mumbai commuters easy access to NMIA and other nodes in Navi Mumbai. For people of Navi Mumbai, the UCR offers the much-needed connectivity to Mumbai through the MTHL, reducing travel time and decongesting roads such as Palm Beach Road and Sion-Panvel Highway. For those who would be using the upcoming Navi Mumbai airport, it provides seamless airport connectivity, crucial for economic and logistical efficiency. Urban planners anticipate the highway to boost business and residential development in Ulwe and other nodes, with better last-mile connectivity inviting investment and dissolving traffic congestion at older nodes such as Vashi and Belapur. Estimated at Rs 1,400 crore, the Ulwe Coastal Road is one of Cidco's showcase projects in sync with NMIA's phased commissioning. Tenders were issued in late 2024, and construction has begun since then. The deadline for the project is set for early 2026, coinciding with the airport's planned commissioning. The estimate involves structural components, environmental mitigation works, and road safety facilities, consistent with the challenging terrain and environmental sensitivity of the road. The significance of the road is enhanced by the two projects it will link — the Mumbai Trans Harbour Link or the Atal Setu will connect directly to UCR at Shivaji Nagar, while at the other end, the UCR offers a special route to NMIA's terminal area. This three-way connection — MTHL, UCR, NMIA — has been termed 'transformational' by officials for Thane and Panvel commuters, minimising reliance on highways in the two cities and scattering airport traffic more evenly throughout the MMR. The alignment of the road was picked to minimise ecological disruption. The elevated section going through coastal and mangrove-dominated areas in particular ensures that construction does not have direct impact on sensitive ecosystems. Cidco has also pledged compensatory afforestation and carried out environmental appraisal as part of statutory clearances. While environmental groups raise concerns about long-term effects on Ulwe's natural shoreline, authorities have stated that engineering interventions such as building on stilts and creating buffer zones will help preserve biodiversity while supporting urban development. 'The Ulwe Coastal Road is a crucial project among the various initiatives undertaken by Cidco to provide seamless connectivity to the Navi Mumbai International Airport. This six-lane road will play a vital role in connecting the Atal Setu and the Navi Mumbai International Airport. Starting from Amra Marg, the road will be linked to the interchange at Atal Setu. This road will be instrumental in the commercial success of the Navi Mumbai International Airport,' said Priya Ratambe, Public Relations Officer, Cidco.
New Indian Express
21 minutes ago
- New Indian Express
CGST Ludhiana unearths Rs 260 crore fake billing scam in iron, steel sector; 2 arrested
CHANDIGARH: Based on specific intelligence, the officers of Central Goods & Services Tax Commissionerate, Ludhiana, conducted multiple search operations at Mandi Gobindgarh unearthing a syndicate involved in availing and passing on fake Input Tax Credit (ITC) in the iron and steel sector using five firms. CGST Ludhiana conducted multiple search operations at Mandi Gobindgarh, district Fatehgarh Sahib, Punjab. During the search operations, the officers uncovered a modus operandi involving the acquisition of debt-ridden rolling mills, which were used as fronts by scamsters to avail and pass on fake ITC, thereby evading the scrutiny of GST enforcement agencies, an official statement said on Friday. Following the search operations, two individuals who were operating and controlling these firms were arrested on July 24. "As per the preliminary assessment, the quantum of bogus bills stands at a staggering Rs 260 crore, resulting in a GST loss of Rs 47 crore to the exchequer," it said. With the two arrests made so far, the investigation is ongoing to uncover the full extent of the network and identify other entities involved. The statement said CGST Ludhiana Commissionerate reaffirms its commitment to detecting tax frauds and ensuring a level playing field for honest taxpayers.
Economic Times
21 minutes ago
- Economic Times
Mark Matthews on why FTA with UK, US trade deal shouldn't matter much for India
Live Events You Might Also Like: Most excited about these business segments in next 1-2 years: Raamdeo Agrawal (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel MD,, believes the India-UK FTA will have a small impact on India. He hopes it will encourage a US trade deal before August 6. A US deal could boost the stock market. Matthews anticipates a US tariff for India between 15% and 20%. He considers US trade less crucial for India than for other nations.: I do not know what the impact will be for the UK economy, but it is not big for India as you know UK trade is an extremely small part of India's overall economy. But what I would say is that it should be a boost for sentiment because they have been doing these talks for about three months and hopefully will put pressure on the government to do the trade deal with the United States before the August 6th deadline. That would be a much needed boost for the stock market if that comes I would expect it to come in somewhere between 15% and 20% with 20% being the ceiling for the Southeast Asian countries like the Philippines and Indonesia. They are at 19% and then 15% was the recent trade deal with Japan. So, that is the range I am looking for. If it was above 20%, then I would be disappointed, I do not know about the market. Unlike Japan or the Philippines, trade with the US is not material for the Indian economy. I find this is frankly more noise than substance.: I like two things. First, I like the fact that the sector is down almost 20% so far this year. It is not across the sector but there are pockets of very deep value. This is a place in India where you can find deep value. And the second thing is that the guidance from management in the most recent quarterly results was largely positive, looking for better times ahead. So, those are the two reasons why we like it.I am sorry I do not have a view on that, but I can tell you what we think about the consumer space. It will be a beneficiary of the Rs 1 lakh crore tax breaks that were announced in the Budget back in February and we should start to see that filter through, but also the one percentage point cut in the RBI's rate since the last five months – these two forces should be beneficial for the entire space, especially for bigger ticket items like autos and property.I think I was wrong and I remember that conversation. It is probably higher than when we last spoke. I felt that it was overbought because at that time it was up about 25% from the beginning of the year. Now, it is up about 28%. I think what I told you at the time is I preferred the idea of buying stocks in Hong Kong relative to gold. So, I suspect on that basis, it might have been the right call. Hong Kong stocks have done better than gold since we last met. But yes, if you look back over the last 100 years, gold's return is on average 5% a year in US dollars. So it has been a very fine investment, but it does move in spurts and we have just had one of those big spurts over the last two I would have thought it was due for a break, and it continues to go up. Long-term, the thing that speaks in favour of gold is that most central banks do not have enough of it and they would like to diversify away from a very heavy concentration in dollars. In fact, there was a survey that came out last month that showed off all the assets that the major central banks of the world said they intended to increase their allocation to over the next 5 to 10 years, gold had the largest vote in there will be a steady buyer of gold from central banks, but they do not tend to chase the price. They tend to be very calm and steady in their buying of it. I do not want to ramble, but what I am trying to say is I still feel that it is overbought in the short term, but longer term it should continue to demonstrate that attribute of going up about 5% per year over the long term.
