30% salary hike confirmed in 7th Pay Commission for CG Employees
"The wages of public sector bank employees are revised once every five years. The recent 10th Bipartite wage agreement gave them an increase of 15%."
United Forum of Bank Unions (UFBU) had initially put forth a demand of 21% wage hike. It was only after an extensive series of negotiations that the Indian Bank Association agreed to settle for 15%.
For Central Government Employees, once every ten years, a high level committee is constituted by Central Government to revise the pay and allowances. The commission will examine pay structure, concessions and facilities/benefits as well as retirement benefits of Central Staff based on Terms of reference given to them. The Commission has to submit its recommendations within 18 months of the date of its constitution.
All the employees' Trade unions, Associations and Federations are given a chance to meet the committee and present their demands and expectations in the form of memorandums. All these stages have been completed. The pay commission is expected to submit its report to the central government this month.
The prime question which comes naturally in every one's mind is - how much increase the Central Government employees will get?