business π° 8th Pay Commission: Salary hike predictions for govt employees
The 8th Pay Commission is nearing its final report, which will set new salary structures for central government employees and pensioners. The commission, led by Justice Ranjana Prakash Desai, is deliberating on a crucial 'fitment factor' to boost basic pay. Illustrative calculations show that a 2.75 factor could raise a βΉ18,000 basic pay to βΉ49,500. Some unions are pushing for a factor between 3.0 and 4.0 due to rising costs. The final recommendations are expected within about eight months. π