Mumbai, March 25
The salaries of Central government employees may increase by Rs 14,000 to Rs 19,000 per month after the implementation of the 8th Pay Commission report, according to a report by Goldman Sachs on Tuesday.
The global financial services firm stated that around 50 lakh Central government employees and 65 lakh pensioners are expected to benefit from the pay revision.
The commission is likely to be formed in April, with its recommendations expected to be implemented in 2026 or 2027.
Goldman Sachs conducted an analysis to estimate the salary hike.
Currently, central government employees earn a median monthly salary of Rs 1 lakh before tax.
Based on different budget allocations, the firm projected possible salary increases.
If the government allocates Rs 1.75 lakh crore for the 8th Pay Commission, and half of this amount is used for salary revision while the rest is for pensions, the median salary could rise to Rs 1,14,600 per month.
If the allocation increases to Rs 2 lakh crore, salaries may go up to Rs 1,16,700 per month, and with an allocation of Rs 2.25 lakh crore, the median salary could reach Rs 1,18,800 per month.