7th Pay Commission, Dearness Allowance: According to information received from sources, the government may soon announce a big Diwali gift for central employees and pensioners.
The central government may soon announce a big Diwali gift for government employees and pensioners. According to information received from sources, the government may soon announce a second increase in Dearness Allowance and Dearness Relief. The government led by Prime Minister Narendra Modi may approve a 3 percent increase. At present, DA is 50 percent. That is, now the dearness allowance will increase to 53 percent.
Arrears unlikely to be released
However, the government is unlikely to release 18 months of dearness allowance and dearness relief arrears, which were withheld during the COVID-19 pandemic. No official announcement has been made in this regard. DA is calculated on the basis of the Consumer Price Index (CPI-IW) for industrial workers published monthly by the Labor Bureau. It is calculated as a percentage of basic salary.
DA is revised twice a year
This increase will benefit thousands of central government employees and pensioners whose salary is based on the recommendations of the 7th Pay Commission. The last DA increase effective from January 1, 2024 was announced on March 7, 2024, increasing DA to 50 per cent. It is known that the government usually updates DA and DR twice a year – in March and September.
Also Read- Big change in FD interest rates! Now investors will get more than 8% return, know details
What is dearness allowance?
Dearness Allowance (DA) is the money that is given to maintain the standard of living of government employees despite rising inflation. This money is given to government employees, public sector employees and pensioners. DA is calculated every 6 months according to the current inflation of the country. It is calculated according to the basic salary of the employees on the basis of the respective salary. Dearness allowance may be different for employees in urban, semi-urban or rural areas.
Related Articles:-
NPS Rule Change: NPS related contribution rules have changed, guidelines issued
Passport Documents: What documents are required to get a passport? know documents list here
Big change in FD interest rates! Now investors will get more than 8% return, know details
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
