The central government employees who have been waited for months to get revised allowances under the 7th pay commission are now looking forward to the pay hike.
The approved pay scales would be applicable from 1.1.2016.
Also, salaries of teachers at 119 centrally-funded institutions like the IITs, IIMs, IISc, NITIE, and IIITs would be revised.
Moreover, teachers and academic staff in 329 Universities across the nation which are funded by state governments, and 12,912 government and private-aided colleges affiliated to state public universities also stand to benefit from the rise in salary from 7th Pay Commission recommendations.
"We must attract good talent into academia, they need to be given attractive compensation", he said.
The Union cabinet on Wednesday cleared revised pay scales for almost eight lakh teachers and academic staff of higher educational institutions following the implementation of the 7th Pay Commission.
However, past year the recommendations of the 7th Pay Commission and the pay hike get allowance by the Union Cabinet for raising the minimum pay from Rs 7,000 to Rs 18,000 per month.
The decision to implement the recommendations was taken in a meeting of Union Cabinet chaired by Prime Minister Narendra Modi.
For the higher education institutions funded by state governments, the revised pay scales will have to adoption by their respective state governments.
The annual Central financial liability on account of the implementation of the recommendation of the 7th CPC would be about Rs 9,800 crore. The Vice Chancellors of universities across the country will now get Rs 2,25,000.
"7.51 lakh teachers in universities will get benefits of the 7th Pay Commission". The Central government will bear the additional burden of the states on account of revision of pay scales.
"With this decision, the government has done justice to the lakhs of teachers".