8th Pay Commission update: Will salary of government employees increase three times? Know all details
8th Pay Commission update: Central employees and pensioners across the country are eagerly waiting for the Eighth Pay Commission. This commission can bring a big change in their salary and pension. According to a recent report, the salary of employees can increase by 30 to 34 percent. But how much your salary will increase when the Eighth Pay Commission will be implemented?
Actually, the central government constitutes a pay commission every ten years, which revises the salary and pension of central employees, defense personnel and pensioners on the basis of inflation and economic situation. The Eighth Pay Commission is likely to be implemented in 2026 or FY 2027.
How much will the salary increase?
Experts believe that this time the salary may increase by 30 to 34 percent, which will put an additional burden of about Rs 1.8 lakh crore on the government treasury. Fitment factor is used for salary revision, which increases the existing basic salary according to the new structure.
According to a report by Ambit Capital, the fitment factor is likely to be between 1.83 and 2.46. For example, if the minimum salary is Rs 18,000, it can increase to Rs 44,280 if a 2.46 fitment factor is applied. At the same time, an employee with a salary of Rs 50,000 can get a salary of Rs 1.23 lakh (2.46 fitment) or Rs 91,500 (1.83 fitment).
Will DA also increase?
Apart from this, the commission can also recommend an increase in dearness allowance (DA) and pension revision. This increase in salary will not only be beneficial for the employees, but it will also give impetus to the Indian economy. People will spend more due to the increased salary, which will increase demand in the market and boost economic growth.
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