PM Modi okays constitution of 8th Pay Commission for central govt employees

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PM Modi okays constitution of 8th Pay Commission for central govt employees - Business Standard

Quick Summary:

"The term of the last Pay Commission will end in 2026.

Srivastava emphasised the need to properly calibrate the path of fiscal consolidation in light of the additional pressures resulting from these revisions.“The 10-yearly revisions in salaries and pensions usually lead to a step increase in the growth of revenue expenditures.

Aditi Nayar, chief economist at ICRA, said, "While the award related to the 8th Pay Commission is unlikely to affect fiscal metrics in FY26, the potential impact of the same should be built into the new medium-term fiscal consolidation path as well as the Finance Commission's recommendations.D.K.