Budget 2023: Government employees can get good news if the government accepts these 3 things
It is expected that in the budget, the government can make an announcement regarding the 7th Pay Commission or make an allocation regarding the salary of the employees. If the government accepts the 3 demands of the central employees, then there will be a tremendous increase in their salary.
Highlights
- Demand to revise the fitment factor
- Demand to give DA arrears of 18 months
- Demand for DA hike with budget
New Delhi. Finance Minister Nirmala Sitharaman will present the budget (Budget 2023) on 1 February. All industries, businessmen, taxpayers, experts, etc. are sending their expectations from the budget to Finance Minister Nirmala Sitharaman through different mediums. Government employees also have high hopes for this budget.
There is little hope of a direct announcement regarding the salary of central employees in the budget. It is expected that in the budget, the government can make an announcement regarding the 7th Pay Commission or make an allocation regarding the salary of the employees. If the government accepts the 3 demands of the central employees, then there will be a tremendous increase in their salary.
First demand
Central government employees have been demanding for a long time to increase the fitment factor related to salary revision from 2.57 percent to 3.68 percent. If the government approves this, then the employees can see a big salary increase. The minimum basic salary of the employees will increase from Rs 18 thousand to Rs 26 thousand.
Second demand
DA was not increased for 18 months during the Corona period. The government had frozen it. The government directly increased DA by 11 percent on July 1, 2021, but nothing was said about DA arrears of 18 months. Government employees are expecting that they will get DA arrears of 18 months.
Third demand
The government increases DA every year on January 1 and July 1. Central employees are demanding that the first hike in DA of the year should be done along with the budget to be presented on February 1. According to media reports, the government can increase DA between 3 to 5 percent.
Budget 2023
The budget for 2023 has not yet been announced. It will likely be proposed by the President and debated by Congress before being approved. The budget will outline the government’s expected revenues and expenditures for the fiscal year 2023, which begins on October 1, 2022. The budget will include information on funding for different government agencies, programs, and initiatives.
The budget process for 2023 will likely begin in early 2022 when the President submits a proposed budget to Congress. The proposed budget is then reviewed and debated by the House and Senate Budget Committees, before being voted on by both chambers. The budget is then sent to a conference committee, made up of members of the House and Senate, to reconcile any differences between the two versions. Once a final version is agreed upon, it is sent back to the House and Senate for a final vote. If the budget is approved, it is then signed into law by the President.
The budget for 2023 will likely include information on government spending in areas such as national defense, healthcare, education, infrastructure, and social welfare programs. It may also include revenue projections and proposals for tax changes. The budget will also include deficit or surplus projections for the fiscal year.
It’s worth noting that the budget is a projection and due to unexpected events, the actual revenue and expenses may vary from the projected figures.
