Salary, Pension Hike Approved for 93,000 Central Govt Employees, Pensioners

• The government has approved salary and pension revisions for approximately 93,000 central government employees and pensioners.
• Beneficiaries include employees and retired personnel from public sector insurance companies, rural banks, RBI, and NABARD.
• The total financial burden of these revisions is estimated at over 8,170 crore rupees, including significant arrears.
• Salary revision for PSU general insurance companies is effective from August 1, 2022, with 5,822.68 crore rupees in arrears.
• NABARD's salary revision is effective from November 1, 2022, and RBI's pension revision includes a 10% increase in basic pension and DA from November 1, 2022.

Why It Matters: Central government approves significant salary and pension revisions benefiting 93,000 individuals with substantial financial outlay.