Thursday, March 15, 2018

7th Pay Commission – Hangs Fire Even As Dearness Allowance (DA) Has Been Hiked

Central Government employees have been waiting and waiting patiently for some good news on salary hikes related to fitment factor.
First, it was the uncertainty that was creating frustrations and now, more bad news has come forth that may well lead to their being disappointed in a bigger way.
Earlier, it was reported that PM Narendra Modi and FM Arun Jaitley will meet in April and set the fitment factor for minimum pay hikes. but now, the entire hike is being threatened. It has emerged that the mammoth bank frauds recently revealed by the CBI and Enforcement Directorate may spoil any chances of a 7th Pay Commission based hike. Lakhs of central  government employees, who were waiting for announcement of minimum salary hike to Rs 26,000 will just have to wait for a much longer time.
Reportedly, the current scams in banks, which have hit Rs 11,400 cr just in Punjab National Bank (PNB) fraud case, may become a big factor in the Narendra Modi government opting not to hike 7th pay commission based minimum salaries to Rs 26,000 as demanded by the staff. PM Modi and Finance Minister Arun Jaitley are expected to meet to thrash out the issue once and for all. Right now as things stand, the issue has high possibility of getting trashed!
Notably, what is giving hope to government employees is the fact that Finance Minister Arun Jaitley had in Parliament vowed to hike pay over and above the 7th Pay Commission report suggestion.
Be that 7th Pay Commission news as it may, yesterdays hike in dearness allowance has come in as a pleasant surprise.
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