New Delhi, May 29 -- The 8th Pay Commission is now actively in its consultation and discussion phase. The aim of the current phase is to listen to the views, ideas, and aspirations of stakeholders, pensioners, and associated participants ahead of revisions to payments and pensions for central government employees and pensioners.

As the name suggests, this is the 8th Pay Commission introduced in India. Generally, India witnesses a Pay Commission every 10 years, and these commissions consider factors such as inflation, current economic conditions, and employees' expectations to determine their recommendations and a fitment factor.

It is critical to note that under the 7th Pay Commission, implemented in 2016, the fitment factor was 2.57, w...