7th Pay Commission: Central government employees may soon get a good news about their salary. If media reports are to be believed, the central government may announce a 4 percent increase in Dearness Allowance (DA) in March 2024.
7th Pay Commission : Central government employees may soon get a good news about their salary. If media reports are to be believed, the Central Government may announce a 4 percent increase in Dearness Allowance (DA) in March 2024. After 4 percent DA increase, dearness allowance and dearness relief will increase to 50 percent. The increase in DA and Dearness Relief is decided by the Central Government on the basis of all India CPI-IW data.
The 12-month average of the Consumer Price Index for Industrial Labor (CPI-IW) stood at 392.83. According to this, DA is 50.26 percent of the basic salary. DA is given to government employees, while DR is given to pensioners. DA and DR increase twice a year – January and July. In the last increase in October 2023, DA was increased by 4 percent to 46 percent. Considering the current inflation rate, the next DA hike is expected to be 4 percent.
According to official figures, there are 47.58 lakh central government employees and 69.76 lakh pensioners. These employees and pensioners will benefit after the upcoming DA increase.
Formula for Central Government employees:
- Dearness Allowance Percentage = ((Average of AICPI (base year 2001=100) for last 12 months -115.76)/115.76) *100
- AICPI stands for All India Consumer Price Index.
- Formula for Public Sector (Central Government) Employees:
- Dearness Allowance Percentage = ((Average of AICPI (base year 2016=100) for last 3 months -126.33)/126.33) *100
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