seventh Pay Commission to be actualized from January 1, 2016: Arun Jaitley

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New Delhi, June 29: Union Finance Minister Arun Jaitley reported on Wednesday that the proposals of the seventh Pay Commission will be viable from January 1, 2016.

The proposals, which were endorsed by the bureau on Wednesday, is prone to see a higher increment in the fundamental pay by almost 15 percent for more than one crore government workers and beneficiaries.

“seventh Pay Commission has a yearly weight of Rs. one lakh two thousand crore, aside from which the back payments weight will probably increment by 12 thousand crore,” said Jaitley.

“The base pay of govt. workers will increment to Rs. 18,000 from existing of Rs. 7,000,” included Jaitley.

Adding to this, the priest said that the proposals endorsed today will see a repeating weight of Rs.72,800 crore also.

The Implementation of new pay scales prescribed by the seventh Pay Commission will affect the compensation of almost 50 lakh focal government representatives and 58 lakh retired people.

One of the key changes proposed by the compensation commission has been the ‘New Pay Structure’, under which the current arrangement of pay groups and grade pay will be launched out and another compensation lattice will be gotten to realize more straightforwardness.

The board headed by Cabinet Secretary P K Sinha was set up to ponder the suggestions of the compensation commission headed by Justice AK Mathur.

The key proposals of the seventh Pay Commission is a 23.55 percent expansion in compensations, recompenses and benefits of focal government workers and beneficiaries, which is evaluated to put an extra weight of Rs. 1.02 lakh crore on the exchequer every year or about 0.7 for each penny of GDP.