7.5 Lakh New Jobs

This will come across as good news job seekers around the country. There are 7.5 lakh new jobs in Central Government Departments.

7.5 Lakh New Jobs

As per the latest Government report,

A total of 33.01 lakh persons are working for the Centre as against 40.48 lakh sanctioned strength.

This means that about 7.5 Lakh positions are lying vacant. This is excellent news for job seekers in the Government sector.

This report comes in light of the 7th Pay Commission which will be implemented from January, 2017.

7th Pay Commission

A big pay hike for over a crore government employees and pensioners has been cleared by the cabinet under the 7th Pay Commission. Under the new scheme, the maximum salary for a government servant will be about 2.5 lakhs a month, that’s more than double the highest pay of Rs. 90,000  a month.

Recommendations

The Pay Commission recommended 23.55 percent overall increase in salaries, allowances and pension.

This is estimated to put an additional burden of Rs 1.02 lakh crore, or nearly 0.7 percent of the GDP, on the government.

The panel recommended a 14.27 percent increase in basic pay, the lowest in 70 years.

The minimum pay in government is recommended to be set at Rs 18,000 per month. This is more than double the present Rs 7,000.

The maximum pay is set at Rs 2,25,000 per month for apex scale and Rs 2,50,000 per month for cabinet secretary and others at the same pay level (as against the current Rs 90,000 per month).

In order to bring in greater transparency, the report has recommended replacing the present system of pay bands and grade pay with a new pay matrix.

Of the total financial impact of Rs 1,02,100 crore, the increase in pay would be Rs 39,100 crore, increase in allowances Rs 29,300 crore and increase in pension Rs 33,700 crore.

Also, Rs 73,650 crore of the outgo will be borne by the general budget and Rs 28,450 crore by the Railway Budget.

Suggested Reading

7th Pay Commission: Bumper Salary Hike for Government Employees

BREXIT and its Global Impact