DA Hike News: An update has come out for central employees under the Seventh Pay Commission. This will decide by what percentage the dearness allowance will increase.
7th Pay Commission: A major update has come out for central employees. Government can give these people a gift of dearness allowance soon. AICPI Index data will be released by the Labor Ministry on 31st July. After this, it will be decided what percentage of dearness allowance will be increased for central and government employees. However, the AICPI figures are still showing that there may be a 4 percent increase in the dearness allowance.
It is worth noting that dearness allowance is revised twice in a year for central employees. DA has been increased in January and now dearness allowance is increased in July. DA effective from January is 42 per cent and if the government increases DA after July then the dearness allowance can be increased to 46 per cent as it is expected to increase DA by 4 per cent.
What do the AICPI index data say?
The figures till May 2023 have been released by the Ministry of Labor, in which the rate of dearness allowance has reached 45.57 points. This means that a 4 per cent DA increase on this figure is almost certain. However, the June figure is scheduled to be released on July 31, after which it will be clear what percentage increase in DA will be. DA is expected to increase by 4 per cent in July, after which employees’ DA will increase to 46 per cent.
Rates will be applicable from 1 July
There will be a second hike in DA this year by the central government. Government’s DA increase can be calculated from July 1. After this increase, 1 crore employee-pensioners will get benefit. It is expected that the central government may announce an increase in dearness allowance sometime between Rakshabandhan and Diwali before the upcoming elections. However, no official announcement has been made yet.
How much will the salary increase?
If the basic salary of an employee is 18000 rupees then 42% DA will be levied, which means dearness allowance of 7560 rupees. If dearness allowance is added at 46% then it will be Rs 8280 per month. According to this, 720 rupees will increase every month. That is, it will increase by more than 8 thousand rupees annually.
