Union Budget 2023: Finance Minister Nirmala Sitharaman is going to present the Union Budget on February 1, 2023. Before the budget, every section of the country has many expectations from the Finance Minister because this is the last full budget of the second term of the Modi government. The year 2024 is the year of elections, in such a situation the government will try its best to woo every section of the country. The central government can give a big gift to lakhs of central employees in the country. With this, the government can give a blow to the employees. Let us know what gift Finance Minister Nirmala Sitharaman can give in Budget 2022-23-
Salary revision may be announced
Let us tell you that the central employees have been demanding salary revision for a long time and in this matter they have discussed many times with the government. According to media reports, the central government can revise the salary of central employees through the fitment factor of the next pay commission. In the year 2016, the then Finance Minister Arun Jaitley had said that instead of every 10 years, the government is considering increment every year. In such a situation, due to the implementation of this rule, the junior employees will also get the facility of salary equal to the employees sitting in the higher position.
At present, the government can take one more year in the formation of the 8th Pay Commission and for this it can present its formula in the budget 2023. In such a situation, the Finance Minister can include the year-by-year salary revision formula in this year’s budget speech. If the government does this, then people working in small positions in central employees will also get a big benefit.
There can be a big announcement regarding HBA as well
Along with the gift, the government can also give a blow to the central employees. The government gives House Building Allowance (HBA) to the employees to repair the house. The government gives this money to the employees as an advance, on which the interest rate is charged. Earlier 7.1 percent interest was charged on this, due to which it can be increased to 7.5 percent in the budget. With this, the government can increase the advance amount from Rs 25 lakh to Rs 30 lakh. In such a situation, if the government changes the HBA, then the employees will have to pay maximum interest rate.
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