Cabinet approves Wage Policy for the 8th Round of Wage Negotiations for workmen in Central Public Sector Enterprises The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the Wage Policy for the 8th Round of Wage Negotiations for workmen in Central Public Sector Enterprises (CPSEs). Highlights: i. Management of the CPSEs would be free to negotiate wage revision for workmen where the periodicity of wage settlement of five years or ten years has expired generally on 31.12.2016 keeping in view the affordability and financial sustainability of such wage revision for the CPSEs concerned. ii.  No budgetary support for any wage increase shall be provided by the Government. The entire financial implication would be borne by the respective CPSEs from their internal resources. iii. In those CPSEs for which the Government has approved restructuring/  revival plan, the wage revision will be done as per the provisions of the approved restructuring / revival plan only. ...