Budget 2024: Prospects of Nirmala Sitharaman Announcing 8th Pay Commission

The full Union Budget for fiscal year 2025 is likely to be presented by Finance Minister Nirmala Sitharaman in the second half of July. The full Union Budget for fiscal year 2025 is likely to be presented by Finance Minister Nirmala Sitharaman in the second half of July.

A proposal to constitute the 8th Pay Commission has written a letter to the central government to get salaries and allowances paid to central government employees revised. All India Railwaymen Federation (AIRF) chief Shiv Gopal Mishra also urged the central govt after the 7th Pay Commission to prioritize 1 crore government employees and pensioners who are awaiting a revision in their salaries and pensions. in the next union budget over.

"It is suggested that this should be made the basis for revision of that matrix periodically without waiting for another Pay Commission," Mishra said in the letter.

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Demands of Government Employees are 

• The demands also included restoring the commuted portion of the pension after 12 years instead of the current 15.
• the union asked for the removal of the 5 percent cap on compassionate appointments.
• Government employees demand the filling of the vacancies in government jobs
• The list included the demand to regularise casual and contractual laborers and Gramin Dak Sevaks (GDS) employees 

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8th Pay Commission update

S B Yadav, Secretary General of the Confederation of Central Govt Employees and Workers asked to revoke the Old Pension Scheme (OPS) and release the 18-month dearness allowance and relief which was frozen during the Covid-19 pandemic to employees and pensioners among other things.8th Central Pay Commission can be implemented from January 1, 2026.

Ritika Nayyar, Partner, Singhania & Co. says, "Since this Budget marks the first one after PM Modi’s government returns for their third consecutive term and the pay commission timelines also approaching, the feedback post elections on some needed focus on middle-class fiscal interest may persuade them to at least initiate preparedness for the same. Introducing it right away could boost the economy but also strain government finances."

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