7th Pay Commission latest news today: Great news has finally arrived for the central employees. From July 1, 2022, how much will be increased in their dearness allowance, it has been confirmed.
7th Pay Commission latest news: The great news has finally arrived for the central employees. From July 1, 2022, how much will be increased in their dearness allowance, it has been confirmed. Experts assessing inflation are telling that the next DA hike is fixed at 4 percent. It will also be announced soon. If sources are to be believed, it can be announced in the cabinet meeting to be held in the first week of August. It is clear from the numbers that the AICPI index has come so far that there will be an increase of at least 4% in DA Hike.
How much is the AICPI Index?
There has been a big jump in the numbers of the AICPI index for May 2022. The total number of the index in May has been 129. Inflation figure in April stood at 127.7. The increase in Dearness Allowance (DA Hike news) is done on the basis of these numbers. The index moves according to the movement of inflation. If this increases in June also, then the central employees can get a better hike. The new dearness allowance will be considered applicable from July 1, 2022. This means that they will also get DA Arrear for the difference between July and August.
Calculation on 38% DA
Central employees are currently getting 34 percent dearness allowance. But, from July 1, 2022, if there is an increase of 4 percent in their dearness allowance, then it will reach 38 percent. This will also give a significant jump in their salary. After increasing the dearness allowance by 4%, the total DA will become 38%. Now on the basic salary of Rs 18,000, the total increase in the annual dearness allowance will be Rs 8640.
Calculation on minimum basic salary
1. Basic salary of the employee Rs 18,000
2. Existing dearness allowance (34%) Rs 6120/month
3. New dearness allowance (38%) Rs 6840/month
4. By how much dearness allowance increased 6840-6120 = Rs 720/month
5. Increase in annual salary 720X12 = Rs 8640
Calculation on maximum basic salary
1. Basic salary of the employee – Rs 56900
2. New dearness allowance (34%) – Rs 19346 / month
3. Dearness allowance so far (31%) – Rs 21622 / month
4. How much dearness allowance increased – 21622-19346 = Rs 2276 / month
5. Increase in annual salary – 2276 X12 = Rs 27,312
Labor Ministry releases figures
The numbers of the AICPI index gives an idea of how much dearness allowance will increase. The index has been steadily rising since February. In such a situation, DA Hike seems to be 4%. The data of All India Consumer Price Index (AICPI) has been taken by the Ministry of Labor and Employment on the basis of retail prices collected from 317 markets located in 88 industrially important centers of the country. The index has been prepared for 88 centers and for the entire country. AICPI is released on the last working day of every month.
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