New Delhi: The government is likely to soon announce the implementation of 7th Pay Commission that would hike the salaries and allowances for over 1 crore government employees and pensioners by at least 23.5 per cent.

A Committee of Secretaries headed by Cabinet Secretary P K Sinha has submitted its report on the recommendations of the 7th Pay Commission which may be accepted, a financial ministry official said. Based on the panel's report, the Finance Ministry is preparing a Cabinet note and the issue may come up for approval by the Cabinet as early as June 29.