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8th Pay Commission: Big Salary Boost for 1 Crore Government Employees and Pensioners!

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Government Begins Preparations for 8th Pay Commission, Salary Hike Expected by 2026 There's great news for nearly 1 crore government employees and pensioners in India! The government has kickstarted the process for the 8th Central Pay Commission (CPC),
The article from MSN discusses the potential implementation of the 8th Pay Commission in India, which could significantly increase the salaries and pensions of approximately 1 crore (10 million) government employees and pensioners. The current 7th Pay Commission's recommendations, implemented in 2016, are set to be reviewed, with the next commission expected to be formed around 2024 or 2026. This new commission might lead to a substantial hike in the fitment factor, which could see the basic salary increase from the current 2.57 times to possibly 3.68 times, thereby boosting the take-home pay. Additionally, there is mention of a potential increase in Dearness Allowance (DA) and Dearness Relief (DR) by 4% effective from July 2023, which would further enhance the financial benefits for government employees and pensioners. The article also touches on the political implications, noting that such salary hikes could be strategically timed to influence voter sentiment ahead of elections.

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[ https://www.msn.com/en-in/politics/government/8th-pay-commission-big-salary-boost-for-1-crore-government-employees-and-pensioners/ar-AA1B82f1 ]