DA Hike Latest News: Cabinet Committee of Economic Affairs (CCEA) meeting is to be held on Friday at 6.30 pm. This time the government has decided to increase the dearness allowance by 4 percent. Let’s know about it in detail.
The wait for dearness allowance of central employees is going to end today. This time the central employees have to wait a long time for dearness allowance. An announcement on this will be made this evening in the meeting of the Union Cabinet to be chaired by PM Modi.
The meeting of the Cabinet Committee of Economic Affairs (CCEA) is to be held at 6.30 pm on Friday. This time the government has decided to increase the dearness allowance by 4 percent.
Dearness allowance is being received at the rate of 38 percent
At present, central employees get dearness allowance at the rate of 38 percent. This time there will be an increase of four percent. After which it will increase to 42%.
It is to be implemented from 1 January 2023. It is not yet clear whether the increased DA and arrears will be given in the March salary or not. Sources claim that the government will give increased DA from March. But the arrears of January and February will be given in the month of April.
Dearness Allowance hiked by 4.40%
The dearness allowance figures will be reviewed in the cabinet meeting to be held today. After this, it will be formally announced in the evening. After the approval of the cabinet, the order of increased dearness allowance will be notified by the Finance Ministry.
If you look at the inflation chart, from July 2022 to December 2022, there has been an increase of 2.6 points in the AICPI index. In this there has been an increase of 4.40% in the total dearness allowance.
4% Dearness allowance fixed
Based on the data of AICPI index of December 2022, it is decided to increase 4 percent dearness allowance. But its effect will be beneficial only when the approval is received. With a jump of 4 percent, the salary of central employees will increase by Rs 720 per month. This increase will be Rs 2276 per month for the maximum salary range. On calculating the minimum basic salary range of Level-3 at Rs.18,000.
Employee’s basic salary Rs 18,000
- New Dearness Allowance (42%) Rs.7560/month
- Dearness Allowance till now (38%) Rs.6840/month
- How much dearness allowance increased 7560-6840 = Rs 720/month
- Increase in annual salary 720X12= Rs 8640
With 42% dearness allowance, the maximum basic salary of level-3 is calculated at Rs 56,900.
- Employee’s basic salary Rs 56900
- New Dearness Allowance (42%) Rs 23898/month
- Dearness Allowance till now (38%) Rs 21622/month
- How much dearness allowance increased 23898-21622 = Rs 2276/month
- Increase in annual salary 2276X12 = Rs 27312
