May consider granting of automatic pension revision every five Years for CG Staffs_Jaitley
Central Government has proposed Automatic Pay Revision every five years for MPs and it is suggested that same system can be extended to Central Government Employees.
Recently Basic Pay of Members of Parliament doubled, and allowances also increased in the Budget 2018-19. When presenting his fifth budget, Finance Minister Arun Jaitley also proposed a law for an automatic revision of salaries for MPs every five years indexed to inflation [ READ ]
As per this announcement the pay and allowances would be revised automatically every five years based on All India Consumer Price Index for Industrial Workers.
MPs salary has been revised with effect from 1st April 2018. According to the FM’s proposal the next pay revision for law makers will be done automatically with effect from 1st April 2023 based on AICPIN-IW
Now it is suggested that Government May consider extending this proposal to Central Government Employees also.
At present Pay and Allowances of Central Staffs is revised by Pay Commission which is constituted by central Government every ten years. If the Government consider extending this automatic Revision of Pay & Allowances and Pension every five years to CG Staffs based on AICPIN for Industrial workers, constitution of pay commission every ten years and time-consuming process can be avoided.
If this ‘Revision of pay every five years‘ proposal is considered by the Government, next automatic Pay Revision to Central Government Employees has to be done with effect from 1.1.2021.
Source from BS News