Prime Minister Narendra Modi-led NDA government is likely tobring good news for Central Government employees in the upcoming Union Budget2019. According to reports, the Centre may hike the minimum pay and fitmentfactor of the CG employees beyond 7th Pay Commission in the upcoming UnionBudget.As per reports, the employees of Central Government are not happy withthe recommendations of the 7th Pay Commission recommendations regarding theminimum pay scale. So, they have been demanding an of Rs 8000 and an increasein the fitment factor up to 3.68 times, for a long time.
Hence, this Union Budget, the CG employees have strongreasons to expect good news from Narendra Modi-led NDA government regardingtheir demand in the upcoming Union budget.The increment in the salary of thegovernment employees after the 7th Pay Commission recommendations led to anincrease in demand. This move has directly affected economic growth.Recently,the RBI has cut the repo rate by 0.25 basis point on June 6, after a 3-daymeeting of the Monetary Policy Committee (MPC), headed by RBI GovernorShaktikanta Das.
This changed stance indicates that the Centre is ready toinfuse more money in the market to spike the demand.
The first Union Budget of PM Modi 2.0 government isscheduled to be presented on July 5 by newly elected Finance Minister NirmalaSitharaman on the backdrop of India’s economy hitting 5-year low growth of 6.8per cent in 2018-19.
