The move will benefit 7.58 lakh professors, assistant professors and others, HRD minister Prakash Javadekar told reporters after a cabinet meeting, where the decision was taken.
He said the hike would be anywhere between Rs 10,000 and Rs 50,000.
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The implementation of this pay revision will enhance the teachers' pay in the range of Rs 10,400 and Rs 49,800 as against the extant entry pay due to the implementation of the 6th Central Pay Commission for the pay of teachers.
This hike in pay is between 22 per cent to 28 per cent. The revised pay scale would cost about Rs 9,800 crore to the exchequer.
Javadekar said the central government will bear the additional burden of the states on account of revision of pay scales.
"It has been done to give justice to the serving teachers as well as to to attract and retain talent in academics so that the standard and quality of higher education is improved," he said.