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10 Facts You Should Know About 7th Pay Commission

10 Facts You Should Know About 7th Pay Commission
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The most awaited 7th Pay Commission is here. In July 2006, when 6th Pay Commission was introduced, many found it overwhelming whereas some thought of it the other way. But this time, headed by Justice J.K. Mathur, it looks like 7th pay commission has lots in its store for the employees.

Let's have a look at ten most important facts about this Pay Commission.

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7th Pay Commission announced 23.5% salary hike.

7th Pay Commission announced 23.5% salary hike.

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1. A total of 16% increase in the basic salary of approximately 47 lakhs government employees and also an increase in allowances by 63%.

1. A total of 16% increase in the basic salary of approximately 47 lakhs government employees and also an increase in allowances by 63%.
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2. An amazing 139% raise in the house rent allowance.

2. An amazing 139% raise in the house rent allowance.
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3. Approximately 52 lakhs retired government employees will now enjoy the 24% raise in their pension.

3. Approximately 52 lakhs retired government employees will now enjoy the 24% raise in their pension.
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4. One rank one pension for the armed forces has been proposed for government officials for the first time.

4. One rank one pension for the armed forces has been proposed for government officials for the first time.
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5. Rs. 18000/month will be the minimum of what a government employee can get.

5. Rs. 18000/month will be the minimum of what a government employee can get.
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6. An annual increment of 3% for central government employees.

6. An annual increment of 3% for central government employees.
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7. Recommendation of introduction of health insurance scheme.

7. Recommendation of introduction of health insurance scheme.
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8. Military Service Pay has been increased to Rs 15,500 per month for service officers.

8. Military Service Pay has been increased to Rs 15,500 per month for service officers.
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9. To pay higher salaries to the employees, the government will incur an additional expenditure of Rs 1.02 lakh crore.

9. To pay higher salaries to the employees, the government will incur an additional expenditure of Rs 1.02 lakh crore.
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10. 7th Pay Commission will impact fiscal deficit by 0.65% of GDP.

10. 7th Pay Commission will impact fiscal deficit by 0.65% of GDP.
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