Government sources indicate that a high-level cabinet panel met today to conduct a preliminary review of the 8th Pay Commission roadmap. The panel is reportedly evaluating a proposal for a 2.86 fitment factor, which could lead to a nearly 25% hike in basic pay for over 48 lakh central government employees and 67 lakh pensioners. While an official notification is still pending, the news has caused a surge in market sentiment for consumer-facing stocks in anticipation of increased disposable income.
Government Sources Hint at 25% Increase in Basic Pay for Central Employees and Pensioners
