7th Pay Commission: Centre likely to increase minimum pay of Central govt employees
Prime Minister Narendra Modi-led NDA government is likely to bring good news for Central Government employees in the upcoming Union Budget 2019. According to reports, the Centre may hike the minimum pay and fitment factor of the CG employees beyond 7th Pay Commission in the upcoming Union Budget.
As per reports, the employees of Central Government are not happy with the recommendations of the 7th Pay Commission recommendations regarding the minimum pay scale. So, they have been demanding an of Rs 8000 and an increase in the fitment factor up to 3.68 times, for a long time.
Hence, this Union Budget, the CG employees have strong reasons to expect good news from Narendra Modi-led NDA government regarding their demand in the upcoming Union budget.
The increment in the salary of the government employees after the 7th Pay Commission recommendations led to an increase in demand. This move has directly affected economic growth.
Recently, the RBI has cut the repo rate by 0.25 basis point on June 6, after a 3-day meeting of the Monetary Policy Committee (MPC), headed by RBI Governor Shaktikanta Das.
This changed stance indicates that the Centre is ready to infuse more money in the market to spike the demand.
The first Union Budget of PM Modi 2.0 government is scheduled to be presented on July 5 by newly elected Finance Minister Nirmala Sitharaman on the backdrop of India’s economy hitting 5-year low growth of 6.8 per cent in 2018-19.
