Many are speculating that the Finance Ministry will announce the 8th pay commission during the Budget 2023 session on February 1.
7th Pay Commission latest update: In the recent Budget 2023 session scheduled for February 1, very good news can be announced for lakhs of central government employees, as an 8th pay commission is speculated to be announced by the Centre.
Finance Minister Nirmala Sitharaman will present the Union Budget 2023 on February 1 in Parliament, and many media houses are speculating that the Centre will announce the 8th Pay Commission, much to the relief of the central government employees.
Many have been calling for a change in the reforms of the 7th Pay Commission, urging the central government to replace its policies with a new 8th Pay Commission. The buzz regarding the announcement of the 8th pay commission is strong among central employees, as per reports.
It must be noted that the Finance Ministry has not yet given any hints regarding any revisions in the 7th Pay Commission or the announcement of the 8th Pay Commission during the Budget 2023 session on February 1, 2023.
What to expect from the 8th Pay Commission
The anticipation and excitement regarding the 8th Pay Commission are strong among central government employees. If it is announced in the Union Budget 2023-24, it will bring a substantial increase in the salary of central employees, from the lowest to the highest levels of the salary scale.
The 8th Pay Commission, as per speculations, can bring a significant hike to basic salary, pay scale as well as allowance of central government employees. It is likely that the employees will receive an increased Fitment Factor boost in the future.
The pay commissions implemented by the Centre are revised every 10 years, as seen by the trends in the 5th, 6th and 7th Pay Commissions. Meanwhile, there is no concrete announcement on whether the 8th Pay Commission will be announced or not.
Earlier, the Centre had said that it has not planned on releasing the 8th Pay Commission anytime soon, but the demands of the employees in the recent quarters have given rise to major speculations regarding the announcement during Budget 2023.
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 "7th Pay Commission: Will Centre announce 8th Pay Commission in Budget 2023? Know what to expect")
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