The Union cabinet led by Prime Minister Narendra Modi on Saturday approved a new pension policy for nearly 2.3 million central government employees, unveiling a framework that will give assured 50% of basic pay as monthly payout, assuaging federal staff unions that had sought guaranteed retirement benefits. Modi had set up a panel led by cabinet secretary-designate TV Somanathan, the …
The central government has no plans to set up the eighth Pay Commission for some 5.4 million central government employees and pensioners ahead of the national election next year, Finance Secretary TV Somanathan has said. Recently, there have been discussions around the central government planning to bring in the 8th Pay Commission ahead of the Lok Sabha elections 2024. In …
