DA Hike News Update: The increase in dearness allowance will provide great relief to central employees and pensioners who are troubled by the backbreaking rise in inflation.
7th Pay Commission: The cabinet meeting is going to be held on Wednesday, 11 October 2023 under the chairmanship of Prime Minister Narendra Modi. This is going to be the last cabinet meeting before the holy festival of Navratri starting on Sunday 15th October. It is believed that in the cabinet meeting, Modi government can give a big gift to the central employees and pensioners before Navratri. The Cabinet can put its seal of approval on the dearness allowance of central employees and pensioners.
Approval will be given on increasing dearness allowance!
The cabinet meeting will be held at 10.30 am tomorrow, Wednesday 11 October. In this meeting, Modi government can take a decision to increase the dearness allowance of central employees and pensioners. There are chances that by increasing the dearness allowance of central employees and pensioners by 3 percent, it can be increased from 42 percent to 45 percent. The decision to increase dearness allowance will come into effect from July 1, 2023. The salary for the month of October is expected to be along with the increase in dearness allowance. Arrears for July to September can also be given to central employees and pensioners along with the salary for the month of October.
Gift on Navratri!
Navratri festival is going to start from 15th October and Dussehra is on 24th October. In such a situation, it is believed that a decision can be taken on increasing the dearness allowance of central employees and pensioners. This decision of the Central Government will benefit 47 lakh employees and 68 lakh pensioners. Last year also, the Modi government had decided to increase dearness allowance in the cabinet meeting held just before Navratri.
Dearness allowance may increase by 3 percent
Dearness Allowance is calculated on the basis of Consumer Price Index for Industrial Workers which is released every month by the Labor Bureau. Central employees are hopeful of increasing the dearness allowance by 4 percent, but the possibility of increasing the dearness allowance by only 3 percent is being expressed. The increase in dearness allowance will provide great relief to central employees and pensioners from inflation.
Will get relief from inflation
Retail inflation data for the month of September will be released on October 12. But the retail inflation rate has come down to 6.83 percent in the month of August which had reached a 15-month high of 7.44 percent in July. Even though retail inflation has declined in August, it still remains above the upper level of RBI’s tolerance band of 6 percent. Food inflation rate was close to 10 percent in August, which was 11.51 percent in July. Obviously, the rise in prices of food items is troubling everyone including government employees, hence they are expected to get a big relief.