Will also grant salary hike to over 1 crore government employees and pensioners.
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New Delhi: The Seventh Pay Commission is likely to significantly boost consumption in consumer-related segments, says a report.
"Supported by falling oil prices, easing credit conditions and growing income among the middle-income class, urban demand is probably seeing an uptick. The recent rise in retail loans, car sales and consumer durables probably indicates that consumption demand growth is improving and is likely to get another boost after implementation of the Seventh Pay Commission during 2016-17," the report by Hansa Cequity said.
The Centre in June had approved recommendations of the 7th Pay Commission, which will grant salary hike to over one crore government employees and pensioners.
( Source : PTI )
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