New Delhi, July 11 -- The 8th Pay Commission is expected to be set up soon, with hopes of more than 1 crore beneficiaries getting higher each day. The provisions under the 8th Pay Commission are likely to be implemented by FY27, significantly boosting salaries and pensions of government officials.

According to a report by Ambit Institutional Equities, the 8th Pay Commission's recommendations are expected to hike salaries of government employees and pensioners by 30-34 per cent.

"We expect the 8th Pay Commission to announce a hike of 30-34 per cent for salaries and pensions (~15.5 per cent of total expenditure) to cover ~11 million beneficiaries to boost consumption," the report said.

The move will be in line with the Centre's earlier d...