DA Hike: Central government employees are eagerly waiting for the announcement of DA hike in July 2024. According to the 7th Pay Commission, the increase in dearness allowance (DA) is expected to increase the salary of the employees.
DA Hike: Dearness allowance is going to increase once again in July 2024 for central employees. There will be a strong increase in the salary of central employees again. It is expected that there may be an increase of 3 percent in dearness allowance (DA Hike). After this, dearness allowance will reach 53 percent. The numbers of AICPI index are yet to be released for June 2024. This is the monsoon season, so it is believed that there will be a rain of money on central employees as well. The government will announce the increase in dearness allowance in July in September or October. If there is a 3% DA Hike, the dearness allowance of the employees can give a benefit of up to ₹ 1,00,170. However, this benefit will be different according to the grade pay and salary. For this, the calculation has to be understood.
DA Hike: Eagerly awaited
Central employees are eagerly waiting for the hike in July 2024. According to the 7th Pay Commission, the increase in dearness allowance (DA) is expected to increase the salary of the employees. Central employees can expect a strong increase in their dearness allowance from July 2024. This increase is part of the periodic revision under the 7th Pay Commission, which aims to make salary adjustments to keep pace with inflation. The final number of DA Hike can be announced soon. The Labor Bureau is currently working on it.
How will the DA Hike of July 2024 be decided?
According to experts, Dearness Allowance may increase by 3% in July 2023 as well. Meaning DA may increase from 50% to 53%. According to AICPI data, the figures have come till May 2024. According to this, an increase of 3% in Dearness Allowance (DA) seems certain. The total DA score has reached 52.91 percent. Now June numbers are to be seen. DA will be calculated after all the numbers of dearness allowance are received. But, even if there is a good rise in the index, it will be limited to 53 percent. In such a situation, a jump of 3 percent is certain this time.
DA Hike will be ₹ 1,00,170
After the increase in dearness allowance by 3%, the total DA will reach 53%. Now if we look at the grade pay between ₹1800 to ₹2800 level 1 to 5, then if the salary of the employee at pay-band 1 (₹5200 to ₹20200) is Rs 31,500, then at the rate of 53 percent, the total dearness allowance will be Rs 1,00,170. Currently, at 50 percent, they are getting Rs 94,500 on the basis of 6 months. Let us tell you, dearness allowance is revised in 6 months. Talking about the difference from the current dearness allowance, the salary will increase by Rs 945 / month. There will be a total increase of Rs 5670 in 6 months.
Understand the calculation on basic salary
- Basic salary of the employee Rs 31,500
- Existing dearness allowance (50%) Rs 15,750/month
- Dearness allowance for 6 months (50%) Rs 94,500
- New dearness allowance (53%) Rs 16695/month
- Dearness allowance for 6 months (53%) 16695X6= Rs 1,00,170
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