budget 2024: Finance Minister Nirmala Sitharaman is to present the last Union Budget of this tenure of the Central Government tomorrow. Lok Sabha elections are also going to be held in the next three months. In such a situation, the Modi government is making full preparations to return to power for the third time. In such a situation, it is understood that the interim budget is a great weapon for the government to win over the voters. The government can make populist announcements for the youth along with the farmers. Besides, the government is also eyeing 1.18 crore employees and pensioners in the budget. In such a situation, a possibility is being considered that the government can constitute the 8th Pay Commission for Defense Forces and government employees. However, the government will also have to assess the financial burden before doing so.
Pay commission is formed every ten years
According to the rules of the Central Government, Pay Commission can be constituted every ten years. The commission has to submit its report and recommendations within 18 months of its constitution. The report made recommendations on the salaries, allowances, rank structure and pension of the Pay Commission, Central employees, All India Services, Union Territories, officers and employees associated with the Indian Audit and Accounts Department, officers and employees of the Supreme Court and employees associated with the Defense Forces. Are going. Earlier on 28 February 2014, the 7th Pay Commission was constituted under the chairmanship of Justice Ashok Kumar Mathur. Subsequently, the organization submitted its recommendations to the government in November 2015. The recommendations of the 7th Pay Commission were implemented by the Central Government from January 1, 2016. However, the then Chief of Staff of Armed Forces had expressed objection to the recommendations of the Seventh Pay Commission.
Why is the issue of 8th Pay Commission being raised?
The Eighth Pay Commission will increase the financial burden of employees and pensioners on the Central Government. Nevertheless, it is understood that the government can take steps in this direction. Speculations are being made about the formation of the commission for two reasons. Firstly, it is time to constitute a pay commission. The second thing is that the government would not want to incur the displeasure of a large section. After the budget session, the government can announce the chairman of the commission and the members of the committee. However, while answering questions asked in Parliament several times before, the government has clearly said that it has no proposal to constitute the Eighth Pay Commission. If the government constitutes the Eighth Pay Commission, then the sectors ranging from consumer durables, electronics to real estate can benefit the most because it will increase the purchasing power of a large section of the society.