Cabinet’s Decision On eighth Pay Commission Will Boost Consumption: PM Modi

Cabinet’s Decision On eighth Pay Commission Will Boost Consumption: PM Modi

New Delhi:

Prime Minister Narendra Modi stated on Thursday that the federal government’s choice to represent the eighth pay fee will enhance consumption and enhance the standard of life.

He stated on X, “We are all happy with the efforts of all Government workers, who work to construct a Viksit Bharat. The Cabinet’s choice on the eighth Pay Commission will enhance high quality of life and strengthen consumption.” PM Modi on Thursday permitted establishing the eighth Pay Commission to revise salaries of almost 50 lakh central authorities workers and allowances of about 65 lakh pensioners.

In a serious choice, the federal government on Thursday determined to arrange the eighth Pay Commission to revise salaries of central authorities workers and allowances of pensioners.

The choice to arrange the eighth Pay Commission was taken by Prime Minister Narendra Modi, I&B Minister Ashwini Vaishnaw stated.

The time period of the seventh Pay Commission will finish in 2026.

“Prime Minister has permitted eighth Central Pay Commission for central authorities workers,” the minister stated. The chairman and two members of the Commission shall be appointed quickly, Ashwini Vaishnaw added.

There are over 49 lakh central authorities workers and almost 65 lakh pensioners.

The minister additional stated the establishing of the brand new Pay Commission in 2025 will be sure that its suggestions are obtained properly earlier than the completion of the time period of the seventh pay panel.

Vaishnaw stated consultations shall be held with central and state governments and different stakeholders.

Since 1947, the federal government constituted seven pay commissions. The pay fee has a key position in deciding wage buildings, advantages and allowances for presidency workers. Most of the state-owned organisations comply with the fee’s suggestions.

The seventh Pay Commission was constituted in 2014 and its suggestions had been applied on January 1, 2016.