7th Pay Commission: According to an update issued by the Central Government, central employees can get a big gift on Holi. As a gift, apart from increase in salary of central employees, increase in dearness allowance may also be announced.
Central employees who are waiting for the increase in Dearness Allowance (DA) may get some good news next month. Narendra Modi government at the Center can give the gift of increase in DA to these employees.
It is expected that the government may increase dearness allowance by 4 percent (4% DA Hike) in March. If the government takes this decision, then the dearness allowance received by central employees will increase to 50 percent and there will be a bumper jump in their salary.
Government can give Holi gift –
It is noteworthy that the dearness allowance given to central employees is revised twice a year. Under this, the government makes the first amendment in the month of January and the second in July. The revision of the first half is mostly made public in the month of March only and this time also it is expected that the Central Government can take a big decision next month and give the gift of Holi (Holi 2024) to the employees. This decision of the government will greatly benefit both central employees and pensioners. Let us tell you that dearness allowance (DA) is given to government employees, while dearness relief (DR) is given to pensioners.
DA was increased in October last year-
Earlier, in the month of October 2023, the Central Government had given a gift to the central employees by increasing their DA by 4 percent and with this increase, their dearness allowance increased from 42 percent to 46 percent. Now this time too, according to the inflation rate, it is being estimated that the government may again increase DA by 4 percent. When it is announced in March, employees and pensioners will get its benefits from January 1, 2024. However, no official comment has been made by the government yet in this regard.
CPI-IW 12-month crosses 392-
The government takes the decision to increase DA-DR on the basis of All India CPI-IW data. According to reports, the 12-month average of CPI-IW for Industrial Workers has been 392.83 and accordingly, DA is coming to 50.26 percent of the basic pay. According to the news, this time also DA may be increased by 4% and dearness allowance and dearness relief tax will be 50%.
How much will the salaries of employees increase?
If we look at the salary hike calculation of central employees after DA Hike, if a central employee gets a basic pay of Rs 18,000, then the dearness allowance of the employee is currently Rs 8,280 at the rate of 46 per cent, whereas after an increase of 4 per cent in it, If calculated according to 50 percent, it will increase to Rs 9,000. That means, there will be a direct increase of Rs 720 in his salary. If we calculate it on the basis of maximum basic pay, then an employee getting Rs 56,900 gets DA of Rs 26,174 at the rate of 46 per cent, if it is 50 per cent then the figure will become Rs 28,450. That means the salary will increase by Rs 2,276.
