The year 2018 is expected to bring cheers for the central government employees. After the 7th Pay Commission is implemented, the salary revision policy of the government is set to change. There are reports that the salary revision policy for central government employees is all set to change.
Reports suggest that the government will change the salary revision structure from 2018. That is, there will be no 8th Pay Commission and the government would completely stop the pay commissions which have been in force since the independence.
Justice A K Mathur, chairman of the 7th Pay Commission, said that the government should review the salary of central government employees every year rather than forming new pay commission after the long gap of ten years.This can be done every year looking into the data available based on price index.
Revision to the salaries of central government employees can be done on the basis of the Aykroyd formula. In this method, the changes in the prices of the commodities that constitute a common man's basket is taken into consideration. If the government adopts this formula, the employees and government need not wait for ten years and form a pay commission to review salary and pension of the central government employees. It can be done by reviewing the inflation.
The Labour Bureau at Shimla takes a look at the changing prices of commodities periodically.
The government has not commented on this topic yet. Reports say that a new revision structure for the salaries would be in force from 2018.
Source : http://www.ibtimes.co.in
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