Looking at the AICPI Index data from January to June, it is being speculated that this time the Modi government may increase DA and DR by 3% or 4%. At present the benefit of dearness allowance is 42%, which is estimated to be 45% or 46% after the increase.
7th Pay Commission DA Hike 2023: There is good news for central employees and pensioners. Employees and pensioners may get the gift of dearness allowance before Navratri. According to the latest media reports, an important cabinet meeting is going to be held under the chairmanship of Prime Minister Narendra Modi on Wednesday, October 11, in which the proposal for DA increase can be placed. There is a possibility that Modi government may increase DA by 3 or 4%, after which DA will increase to 45% or 46%, although official confirmation is yet to be done. This will benefit 47.58 lakh employees and about 69.76 lakh pensioners.
3 % increase in DA possible
Actually, dearness allowance of central employees and pensioners is increased twice a year, which depends on the half yearly data of AICPI Index. Looking at the AICPI Index data from January to June, it is being speculated that this time the Modi government may increase DA and DR by 3% or 4%. At present the benefit of dearness allowance is 42%, which is estimated to be 45% or 46% after the increase. The new DA rates will be implemented from July 1, 2023, in such a situation, the arrears of 3 months of July, August and September will also be given to the employees and pensioners, while other allowances will also increase. It is likely that in the cabinet meeting to be held on Wednesday, the Central The Cabinet can put its seal of approval on the dearness allowance of employees and pensioners.
Know whose salary will increase by how much
- If sources are to be believed, in view of the elections in 5 states, the benefit of increased dearness allowance (DA) and arrears can be given in the salary of October, which will be given in November. Since DA is calculated on the basis of basic salary, the increase in DA will increase the take-home salary of the employees.
- After the increase in dearness allowance by 3 percent, the salary of central employees can increase from Rs 8,000 to Rs 27,000 annually.
- DA for Central Government employees is calculated on the basis – {Average All India Consumer Price Index of last 12 months (Base Year-2001=100-115.76/115.76}X100. For Central Public Sector employees, the formula is as follows – {Average of 3 months All India Consumer Price Index (Base Year-2001=100-126.33/126.33}X100.
- The basic pay of an employee is Rs 18,000 and he currently gets DA of Rs 7,560 at the rate of 42 per cent, which will increase to more than Rs 8,100 at the rate of 46 per cent. At maximum basic pay of Rs 56,900, this will be around Rs 27,000.
- If the employee gets a salary of Rs 30,000 per month, he will get DA of Rs 12,600 at the rate of 42 per cent and Rs 13,800 if it is 46 per cent, which will increase his monthly salary by Rs 1200.
- Those with a salary of Rs 38500 will get a benefit of more than Rs 17000. You will also get the benefit of the same allowances. If the salary of an employee is Rs 50 thousand per month and his basic pay is Rs 15000, then at 42% DA he will get Rs 6,300, if at 46% DA he will get Rs 6,900 per month, in this case the salary will increase by Rs 600 per month. .
(This figure is given as an example and is subject to change; this amount may also increase after adding allowances)
