NEW DELHI, Nov 19 - In a big bonanza to Central government employees and pensioners, the Seventh Pay Commission today recommended a 23.55 per cent increase in salary, allowances and pension along with a virtual one-rank-one-pension for civilians, involving an additional outgo of Rs 1.02 lakh crore a year.
A minimum pay of Rs 18,000 per month and a maximum of Rs 2.5 lakh per month has been recommended by the Commission, headed by Justice AK Mathur, that presented its 900-page report to Finance Minister Arun Jaitley here.
The recommendations, which are to be implemented from January 1, 2016, will benefit 47 lakh Central government employees and 52 lakh pensioners.
The impact of the recommendations will be Rs 1.02 lakh crore � Rs 73,650 crore on Central Budget and Rs 28,450 crore on Railway Budget.
The award of the pay panel will also benefit staff of autonomous bodies, universities and public sector units, Jaitley said after receiving the report. � PTI