All the central government employees are eagerly waiting for the July DA hike. It is likely to be announced soon. There is no official confirmation on the date of announcement of DA hike.
All the central government employees are eagerly waiting for the July DA (Dearness allowance) hike. According to a report, it is likely to be announced soon. There is no official confirmation on the date of announcement of DA hike, but it is being speculated that the decision may be announced in the month of September 2023.
According to the report, the retail inflation rate in the country has reached the highest level of 15 months in July, in such a situation, the central government can increase the dearness allowance (DA) for its more than one crore employees and pensioners by three percent to 45 percent.
Dearness Allowance is revised from time to time twice a year. The last DA hike revision took place on March 24, 2023 and was effective from January 1, 2023. This time the central government had increased the DA by 4 percent from 38 percent to 42 percent on a percentage basis.
How is DA calculation done?
The dearness allowance for central government employees and pensioners is calculated on the basis of the latest Consumer Price Index for Industrial Workers (CPI-IW) released by the Labor Bureau every month. According to PTI Shiv Gopal, General Secretary of All India Railwaymen’s Federation said “CPI-IW for June 2023 was released on July 31, 2023. We are demanding a four per cent hike in the dearness allowance. But the increase in dearness allowance is a little more than three per cent. The government is not considering increasing DA beyond a decimal point. Thus DA is likely to increase by three percentage points to 45 percent.
Mishra further said that the Expenditure Department of the Finance Ministry will prepare a proposal for hike in DA with its revenue implications and place the proposal before the Union Cabinet for approval, and then the DA hike will be announced.
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