The Seventh Pay Commission headed by Justice AK Mathur on Thursday submitted its report to Finance Minister Arun Jaitley, suggesting 23.55% hike in pay and allowances of govt employees.
Finance Minister Arun Jaitley receives the pay panel report from Justice A K Mathur in New Delhi on Thursday. PTI
A hike of 23.55 per cent in emoluments, including pay, allowances and pension, for the 47 lakh serving employees of the Central government and 52 lakh pensioners has been proposed by the Seventh Pay Commission, headed by Justice A K Mathur, which submitted its report Thursday to Finance Minister Arun Jaitley.
While the proposed hike in salaries could potentially offer a boost to consumer spending, the cumulative impact of the proposals, which include a recommendation of a virtual one-rank-one-pension scheme for civilian Central government employees, entail a total additional outgo of Rs 1.02 lakh crore a year.