India, Oct. 29 -- The Union Cabinet, chaired by Prime Minister Narendra Modi, on Tuesday approved the terms of reference for the 8th Pay Commission, setting in motion the process for increasing the salaries and pensions of nearly 12 million central government employees and pensioners, which will most likely take effect from January 1, 2026. The panel has to make its recommendations within 18 months of its constitution, which means the increases will likely be with retrospective effect. The panel will be headed by retired Supreme Court judge Ranjana Prakash Desai, with IIM-Bangalore Professor Pulak Ghosh as a part-time member and Petroleum Secretary Pankaj Jain as the member secretary. The 7th Pay Commission recommended a 23.55% increase i...