The pay hike for 8 lakh university and college teachers under the 7th Pay Commission were approved by the Union Cabinet on Wednesday. This is good news for the teachers ahead of Diwali. The pay hike will be applicable for academic staff in higher educational institutions under the purview of the University Grants Commission (UGC) and in centrally-funded technical institutions, in line with the suggestions made under the 7th Pay Commission for central government employees.