Daily Current Affairs on 8th pay commission's formation approved by PM Modi for IBPS (PO/SO) Preparation

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8th pay commission's formation approved by PM Modi

Prime Minister Narendra Modi has approved the setting up of the 8th Pay Commission for the central government employees.

  • The approval for the setting up of the commission was announced by the Information and Broadcasting Minister, Ashwini Vaishnaw in the press briefing held on January 16, 2025.
  • The announcement for pay commission has come after the dearness allowance went above 50% of the basic salary of central government employees.
  • Effective from July 1, 2024, central government employees and pensioners are entitled to 53% of their basic pay as dearness allowance/relief.
  • The central government employees and pensioners are due for a hike in dearness allowance/relief from January 2025.
  • Currently, government employees are receiving their salaries and pensions on the basis of recommendations made by the 7th Pay Commission.

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