7th Pay Commission’s recommendations accepted

Economics | :

News: The government has accepted the recommendations of the 7th Pay Commission
Hikes will be effective from August and will be paid with effect from January 1, 2016
The arrears for the 6 months will be disbursed during the current financial year (2016-17) itself
Impact: Salaries of Central government employees will increase; Pensioners too will receive more
Overall increase of 23.5% for over 1 crore government employees and pensioners
Compression ratio of 1:3.12 – pay of a Class I officer on direct recruitment will be thrice the pay of an entrant at the lowest level