Seventh Pay Commission report: Key Highlights

Seventh Central Pay Commission Report has suggested 23.55% hike in pay and allowances of govt employees.

Here are the key highlights of  Seventh Central Pay Commission report:

-7th Pay Panel submits report to FM Arun Jaitley; suggests 23.55% hike in pay and allowances of govt employees

-Pay will go up by 16%; increase in allowances will be 63%; increase in pension will be 24%

-Minimum basic pay for central govt staff recommended at Rs 18,000; maximum pay Rs 2.25 lakh per month

-Pay Commission recommends 3% annual increment and 24% hike in pension for central government staffers

-Enhancement in the ceiling of gratuity from the existing Rs 10 lakh to Rs 20 lakh

-Pay Commission report has to be implemented from January 1, 2016

-FY17 impact seen at Rs 1.02 lakh crore from implementation of the 7th Pay Commission

-One Rank One Pension recommended for central govt staffers as well as armed forces

-Recommendation will impact 47 lakh serving govt employees, 52 lakh pensioners, including defence personnel

Also Watch: