Economy

7th Central Pay Commission: Strong GDP growth, Lok Sabha elections raise salary hike optimism, says report

Updated : June 25, 2018 05:01 PM IST

Economic growth along with the upcoming Lok Sabha elections have raised the hopes of the employees.

Finance Minister Arun Jaitley, had back in 2016 promised to hike salary beyond the pay commission recommendations.

With lakhs of former and current staff from various universities gaining benefit from the new decision, central employees too are expecting similar gains.

7th Central Pay Commission: Strong GDP growth, Lok Sabha elections raise salary hike optimism, says report

Strong quarterly growth numbers along with the upcoming Lok Sabha elections have once again raised hopes among the central government employees that the Narendra Modi government would fulfill their demand of hike in minimum basic pay, reported DNA on Monday.

Over 50 lakh employees are hopeful that the government will fulfill the promise given by Finance Minister Arun Jaitley, who back in 2016 promised to hike salary beyond the recommendation of the Seventh Pay Commission, according to the report.

India's economic growth have exceeded the estimates. The fourth-quarter GDP growth stood at an 18-month high of 7.7 percent, retaining India’s ranking as the world’s fastest-growing major economy, outpacing China by nearly a percentage point.

Experts also believe that 2019's general elections would also force the central government to fulfill their demands.

Have you signed up for Primo, our daily newsletter?

It has all the stories and data on the market, business, economy and tech that you need to know.

To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more