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Friday, 20 November 2015

7th Pay Commission Report

Central Government 7th Pay Commission recommends 23.55% hike in salary for central govt employees; OROP for civilians too.The 900-page report of the 7th Pay Commission headed by Justice A K Mathur was presented to Finance Minister Arun Jaitley with a recommendation that the new scales be implemented from January 1 next year.
Here are the key highlights of Seventh Central Pay Commission report:
-7th Pay Panel submits report to FM Arun Jaitley; suggests 23.55% hike in pay and allowances of govt employees
-Pay will go up by 16%; increase in allowances will be 63%; increase in pension will be 24%
-Minimum basic pay for central govt staff recommended at Rs 18,000; maximum pay Rs 2.25 lakh per month
-Pay Commission recommends 3% annual increment and 24% hike in pension for central government staffers
-Enhancement in the ceiling of gratuity from the existing Rs 10 lakh to Rs 20 lakh
-Pay Commission report has to be implemented from January 1, 2016
-FY17 impact seen at Rs 1.02 lakh crore from implementation of the 7th Pay Commission
-One Rank One Pension recommended for central govt staffers as well as armed forces
-Recommendation will impact 47 lakh serving govt employees, 52 lakh pensioners, including defence personnel
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