7th Pay Commission Latest News Today: Centre Likely To Raise Fitment Factor to 3.68 Times After Holi 2023; Know How Much Salary Will Increase

Mumbai, February 26: Ahead of the festival of Holi, the Central government is likely to make announcements regarding DA hike, dearness allowance arrears and Fitment Factor among others. Since a long time, government employees under the 7th pay commission have been demanding to raise the Fitment Factor hike from 2.57 times to 3.68 times.

Now a report in News18 has said that the central government could revise the fitment factor rate in March 2023. The reports also stated that the minimum salary central government employees is also likely to raise if fitment factor hike is approved. Reportedly, a raise in Fitment Factor would increase the minimum salary of government employees from Rs 18,000 to Rs 26,000. 7th Pay Commission: Karnataka Government Employees Announce Indefinite Strike From March 1 If Recommendations of Seventh CPC Not Implemented.

The reports stated that fitment factor and dearness allowance could be raised in March 2023 after Holi, which will be celebrated on March 8. At present, the fitment factor rate stands at 2.57 per cent. If the Centre increases the fitment factor to three times, then the salary of a government employee excluding allowances will be 18,000 X 2.57 = Rs 46,260.

Similarly, if the fitment factor is raised to 3.68 times then the salary of a government employee will be Rs 26000 X 3.68 = Rs 95,680. A 3.68 times fitment factor will raise the minimum salary of government employees from Rs 18,000 to Rs 26,000. Meanwhile, various media reports also claim that the Centre could announce DA hike for its employess under 7th CPC in March 2023. 7th Pay Commission Good News: Centre Likely To Announce 8th Pay Commission Before Lok Sabha Elections 2024; Check Latest News Update Here.

Last year in September, the Centre hiked DA of its employees by 4 percent, thereby taking dearness allowance to 38 percent form 34 percent. Reports suggest that the next DA hike could be between 3 to 5 percent, however, a final decision from the government is awaited.

(The above story first appeared on Today News 24 on Feb 26, 2023 04:02 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website todaynews24.top).