Union Finance Minister Nirmala Sitharaman is set to present the Union Budget for the next fiscal year in the upcoming budget session of the Parliament. Meanwhile, there is speculation that the Centre may consider establishing the 8th Pay Commission.
Reportedly, the speculations started after trade unions pitched for it in front of the finance minister during a pre-budget consultation on January 6. Although, the demand for establishing the commission was put forth by the trade union in the run-up to the last budget also then no such announcement was made.
Recently too the government said that it was in no mood to constitute a commission anytime soon. However, after the meeting, it is anticipated that the government may re-think their stance.
Why is 8th Pay Commission being demanded?
The central government are demanding 8th Pay Commission establishment as the last 7th Pay Commission was established in 2014 under Justice Ashok Kumar Mathur by the UPA government.
The report was subsequently submitted in 2015 and was implemented in January 2016.
How salaries would be affected by 8th Pay Commission?
If the 8th Pay Commission is established, it is anticipated that the basic salary of the Central govt employee will increase from Rs 18,000 to Rs 34,560 per month. Currently, there are over one crore employees and pensioners who are eagerly waiting for the 8th Pay Commission
