7th Pay Commission report: Government employees have been waiting and waiting patiently for some good news on salary hikes related to fitment factor. First, it was the uncertainty that was creating frustrations and now, more bad news has come forth that may well lead to their being disappointed in a bigger way. The new year may not turn out as well as it was hoped for and all because of something extraneous. Earlier, it was reported that PM Narendra Modi and FM Arun Jaitley will meet in April and set the fitment factor for minimum pay hikes. The offer was for 3 times, but government staff wanted much more as they said their pay was not being able to match the pace of rising prices. At this point there was just this uncertainty, but now, the entire hike is being threatened. It has emerged that the mammoth bank frauds recently revealed by the CBI and Enforcement Directorate may spoil any chamnces of a 7th Pay Commission based hike. Lakhs of government employees, who were waiting for announcement of minimum salary hike to Rs 26,000 will just have to wait for a much longer time, according to The Sen Times.
The biggest fraud was revealed at the Punjab National Bank and it is estimated at over Rs 11,400 cr. There are more banks who have been exposed. This will add to the pressure on the governemnt and the cost of effecting a 7th Pay Commission hike in salary as per demands may not happen at all or be delayed beyond a certain period. This will come as a big disappointment as Centre had cleared 7th Pay Commission report implementation as far back as in June 2016. A long time has elapsed since then. Then minimum pay was raised from Rs 7,000 to Rs 18,000 per month on the basis of fitment factor of 2.57 times. Employees however, want hike on basis of fitment factor calculated at 3.68 times. Centre has reportedly been offering just 3.00 times. As such Seventh Pay Commission news has been much searched by staff concerned for any latest updates. But 7th CPC good news continues to hang in balance.
So, what is this 7th Pay Commission report fitment factor? Well, it is a figure used by which the basic pay is hiked from its previous level based on 6th Pay Commission report.
Notably, what is giving hope to governemnt employees is the fact that Finance Minister Arun Jaitley had in Parliament vowed to hike pay over and above the 7th Pay Commission report suggestion.