Salary Hike: The central government may soon give good news to employees and pensioners. Let us understand how much his salary will increase due to this decision.
Salary Hike: The Central Government may soon increase the DA of its employees. DA of employees can be increased by 4 percent. The Central Government increases DA (Dearness Allowance) twice a year in January and July. DA is calculated on the basis of Consumer Price Index. The increased DA can be announced in March. Let us understand how much the salaries of central government employees and pensioners will increase after this DA increase.
Currently getting 46 percent DA
The Labor Bureau of the Labor Ministry releases Consumer Price Index for Industrial Workers (CPI-IW) data every month. On this basis, DA is increased for those employees and pensioners who draw salary and pension on the basis of 7th Pay Commission. At present the central government is giving 46 percent DA of basic pay to its employees and pensioners. According to CPI IW data, DA should increase to 50.26 percent. However, the central government can directly increase it by 4 percent to 50 percent of the basic pay.
Will be considered increased from January 1
Earlier, the Central Government had announced the increase in DA on October 18, 2023. It was considered effective from July 1, 2023. The 4 percent increase that the government is going to announce now will be considered effective from January 1, 2024. Due to late announcement, DA of previous months is received in the form of arrears. DA is increased to eliminate the effect of inflation. Due to this, the employee’s salary keeps increasing from time to time. He is not afraid of inflation.
This will increase
According to the calculations of Economic Times, if the basic salary of an employee is Rs 53500, then his DA at the rate of 46 percent will be Rs 24,610. If DA increases to 50 percent, he will get a profit of Rs 2140 every month. Similarly, if someone’s pension is Rs 41000 per month, then his DA at the rate of 46 percent will be Rs 18906. After the increase in DA, his pension will increase by Rs 1644.
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