New Delhi, June 16: As per the latest updates related to 7th Pay Commission, the government is likely to give a double bonus for those working under the central government. According to reports, the Commission has decided that salaries would be hiked from August 1 and six months arrears will be paid to the employees in one installment in October.Also Read - PM Modi to Inaugurate India’s Biggest Drone Festival at Pragati Maidan on May 27

As per the recent developments, the government has already started working to credit the hiked salaries in the accounts of employees from August 1, 2016. Around 47 lakh Central Government employees are eagerly awaiting the salary hike, along with the 52 lakh pensioners who are expecting a significant increase in the monthly pension provided to them which was also promised by Narendra Modi government. Also Read - 7th Pay Commission Latest News Today: Big Announcement on Fitment Factor Hike For Govt Employees Likely Today | Deets Inside 

The Seventh Pay Commission will be implemented from July and the increased payout will be credited in employee’s’ account on August 1. Read Also: (7th Pay Commission: From August 1 government employees will get hiked salaries) Also Read - Heralding New World Order: User Reacts To PM Modi's Viral Photo From Tokyo

On Thursday a news report suggested that the six months arrears from January to July will be handed before Dussehra festival which is in October.

An unidentified official working with the commission was quoted by The Financial Express saying, “Central government employees could get the revised pay-scales with their July salaries that would be credited on August 1”.

There was a meeting held on Tuesday where Cabinet Secretary P K Sinha along with other Empowered Committee of Secretaries sat for few hours and submitted its final report. Report suggest that, Secretaries Panel in its final report has recommended 30 per cent hike which is more than what was proposed by the pay panel i its November report.

The commission had earlier recommended a minimum monthly basic salary of Rs 18,000 and maximum of Rs 2,50,000. With the 30 per cent hike the minimum basic monthly pay will be Rs 23,500 and the maximum will be Rs 3,25,000. The new reforms will directly impact the Central Budget by Rs 73,650 crore and the Railway Budget by Rs 28,450 crore.