8th pay commission Update: The Central government is poised to give a significant gift to its employees, sparking intense discussions. Post the Lok Sabha elections, the government may constitute the 8th Pay Commission. Additionally, there could be a major decision on Dearness Allowance (DA) as well. If the government decides to increase DA, it will be by 4 percent. Following this, there will also be a substantial hike in salaries.
Approximately 1 crore employees and pensioners are expected to benefit from this. Speculations suggest that an announcement regarding this may be made by the end of June or in the first week of July. However, there has been no official announcement from the government on this matter so far.
Possibility of formation of 8th pay commission
A major decision is looming for central government employees. The government is planning to establish the 8th Central Pay Commission for them, set to be implemented by 2026. The previous instance of constituting the 7th Pay Commission was in 2014.
There has been no official statement from the government regarding the prospects of establishing the 8th Pay Commission, but according to media reports, there are claims being circulated that you should consider important to know. If the new Pay Commission is instituted, there could be a considerable hike in salaries after its implementation, akin to a major gift.
On the other hand, there is speculation that a 4% increase in DA for central government employees and pensioners may be implemented. This could potentially raise it to 54% thereafter, resulting in a substantial hike in salaries. Currently, employees are benefiting from a total of 50% DA.
In case there is an increase in DA, the rates will be applicable from July 1. DA can be revised twice a year, with rates implemented by January 1 and July 1. Previously, DA was also raised, with rates enforced from July 1.
