7th Pay Commission, DA Hike: The government changes the Dearness Allowance and DR (Dearness Relief) twice a year. Every year their rates change in January and July. This year so far the government has changed the dearness allowance for January and the employees are waiting for July. Let us know in this article when the dearness allowance can be increased.
7th Pay Commission, DA Hike: The central government gives the gift of dearness allowance to all central employees twice a year. Right now the government has announced the dearness allowance once for the current year. Now the employees are going to get the gift of dearness allowance again soon. Let us tell you that the government increases dearness allowance in January and July.
The government had announced the DA Hike for January. Now the month of October has come and the government has not made any announcement regarding increasing the dearness allowance for July. However, government employees are hopeful that before Diwali (Diwali 2024), the government can announce an increase in dearness allowance.
What is dearness allowance?
DA (Dearness Allowance) is also important in the salary of government employees along with the basic salary. Actually, the government gives this to the employee to give relief from inflation. While the employee gets dearness allowance, pensioners are given DR (Dearness Relief).
The government changes DA and DR every year in January and July. This change is made in view of the Cost of Living Index.
How is dearness allowance calculated?
The government fixes dearness allowance on the basis of All India Consumer Price Index (AICPI). This index tells how expensive things are getting. If there is a rise in AICPI, then the government increases the dearness allowance. Dearness allowance is a basic part of the salary of the employees. In such a situation, all the central and state employees wait for its increase.
Also Read- Share Market Holiday List: Stock market will remain for so many days in October, check list here
How much will the dearness allowance increase?
According to media reports, the government can increase the dearness allowance by 3 to 4 percent. Understand it like this that if the basic salary of an employee is Rs 18,000, then after the increase in dearness allowance, his salary can increase from Rs 540 to Rs 720 per month.
If the government increases it by 3 percent, then the employee’s salary can increase by Rs 9540. At the same time, after a 4 percent increase, the monthly salary can increase by Rs 9720.
Related Articles-
Share Market Holiday List: Stock market will remain for so many days in October, check list here
PPF-SSY New Rules: Rules of PPF and SSY have changed from today, know what will affect you
