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Wednesday, November 25, 2015

7th Pay Commission Latest updates

7th Pay Commission Latest updates


  • Total Increase is likely to be 23.55%
  • Salary Hike 16%
  • Allowance Increase 65%
  • Pension Increase 24%
  • Grade pay to be abolished. No Grade pay for Government employees now.
  • Bay Band also to be abolished for Central Government employees.
  • Total impact only on central govt employees leaving apart PSU would be around 1.2 Lakh Crores.
  • Annual Hike to be maintained at 3%
  • To be implemented from 1st January 2016.
  • Retirement age to be fixed at 60 Years , no change in retirement age for central government employees.
  • Insurance to be extended to Central Government employees.
  • Minimum salary to be 18,000/-
  • Minimum salary for Defense to be 15,500/-
  • Impact on Railways budget 28,000 Crores
  • Basic salary hike to be 14.27%
  • Gratuity amount doubled to 20 Lakh
  • Maximum salary to be 2.25 Lakh
  • Impact on budget 74,000 Crores
  • One rank one pension to be extended.

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