The Finance Ministry is set to propose on Wednesday a 23.55 per cent overall increase in salaries and pensions for more than 1 crore government employees and pensioners, in line with the 7th Pay Commission’s recommendations. The cost to the exchequer on this account is estimated at Rs.1.02 lakh crore.
In November 2015, the pay panel had recommended increases of 16 per cent in pay and 24 per cent in pensions within the overall 23.55 per cent.
About pay commission:
The approval for seventh pay commission came in September 2013 by the then Prime Minister of India, Manmohan Singh with Justice Ashok Kumar Mathur as its head.