10 million government workers just got a massive salary increase
Though it might put budgetary pressure on the government, India just made a huge step in increasing pay for low-wage government workers and those on pension.
In fact, the new price hike will affect around 4.7M government workers and 5.3M pensioners, meaning nearly 10M Indians will see a jump in their monthly pay.
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In a country where working for the government is one of the best ways to get high-level benefits, these coveted positions just became even more appealing.
Approved by Prime Minister Narendra Modi, the pay increases range depending on employee level.
Minimum monthly salary for a government employee will be increased from the equivalent of $100 to $270 for Cabinet members and other top-level government employees will see an increase to a level $3,300 per month.
The wage hikes are estimated to cost the Indian government around $15B this financial year, but they're also predicted to help increase consumer spending — something the Indian economy could use.
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