Big Pay Hike: Good Day To Be A Government Officer?
The government has cleared a big pay hike for over one crore government employees and pensioners. With this raise, several senior government officials will draw a higher salary than lawmakers in Parliament. The government is counting on the higher salaries to result in more consumer spending which could trigger economic growth. However, some experts believe that the additional cash in the market could fuel inflation. To keep a check on price rise driven by greater liquidity in the market, the government plans to keep a close eye on the market.
