Forecasts suggest that the eighth salary attestation committee is expected to bring about a significant increase in employee salaries. Some sources suggest that using the formula from the seventh attestation committee, both salary and pension could triple, while other experts hypothesize a twofold increase. However, the government has not yet provided any updates regarding salaries and pensions.
Currently, the eighth attestation committee is meeting with civil servants and pensioners in various locations. During these meetings, the committee hears their demands, based on which a report will be prepared and subsequently submitted to the government. Changes will come into effect after approval by the cabinet of ministers.
The fitment coefficient may play an important role, as the increase in salaries and pensions for civil servants may be based on it. There is a possibility that the fitment coefficient could be set in the range of 2.0 to 3.0. Because of this, people are interested in whether setting the fitment coefficient at 2.0 will lead to a doubling of salaries?
Many employees believe that a fitment coefficient of 2.0 will double their total salary, but this is not the case. The sixth salary attestation committee set a fitment coefficient of 1.86, which led to a 54% increase in average gross salary. The seventh salary attestation committee adopted a significantly higher fitment coefficient of 2.57, but the overall salary increase was only 14.29%. This was because the inflation allowance was included in the calculation, which ensured a noticeable salary growth.
Similarly, if the fitment coefficient is increased to 2.0 in the eighth salary attestation committee, the base salary and pension may double, but the total salary will not double after adding the inflation allowance and other benefits. According to Economics Times, BankBazaar states that with a fitment coefficient of 2.0, the total salary may increase by up to 31%.
With a fitment coefficient of 2.0, if your base salary is ₹ 25,500 and your total salary is ₹ 48,450 (including 60% inflation allowance and 24%), your total salary will be ₹ 63,240, and your base salary will be ₹ 51,000.