7th Pay Commission DA Hike: According to reports, the central government may soon announce a 4 percent increase in DA. The government may make this announcement anytime but this increase will be considered effective from July 1, 2023.
New Delhi. The Central Government is considering announcing an increase in Dearness Allowance for Central Government employees and pensioners very soon. According to media reports, Modi government can announce DA hike between Navratri and Diwali. Although the government may announce this anytime, this increase will be considered effective from July 1, 2023. According to reports, the central government may announce a 4 percent increase in DA.
DA can reach 46 percent
According to the ET report, there is a possibility of a 4 percent increase for central government employees as per the DA calculation formula based on the latest Consumer Price Index for Industrial Works (CPI-IW). After this increase, dearness allowance will reach 46 percent. Let us tell you that the Labor Bureau calculates the proportion in which inflation has increased on the basis of CPI-IW.
How much will the salary increase be?
DA is calculated on the basis of basic salary. The increase in DA increases the take-home salary of the employees. Suppose the salary of an employee is Rs 50 thousand per month and his basic pay is Rs 15 thousand, then he gets Rs 6,300 according to 42 percent DA. However, after 4 percent DA increase, the employee will get Rs 6,900 per month. In such a situation, if someone’s salary is Rs 50 thousand per month and basic pay is Rs 15 thousand, then his salary will increase by Rs 600 per month.
Increase in DA and DR twice a year
DA is given to government employees, while DR is given to pensioners. DA and DR are increased twice a year – January and July. At present, more than one crore central government employees and pensioners are getting 42 percent dearness allowance. In the last increase in March 2023, DA was increased by 4 percent to 42 percent.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
