DA Hike Latest Update: Employees have been waiting for the increase in dearness allowance for a long time. Meanwhile, recently a big update has come regarding dearness allowance of employees. Under which it has been said that the dearness allowance of the employees will soon increase by this percentage…
DA Hike Latest Update: Employees have been waiting for the increase in dearness allowance for a long time. Meanwhile, recently a big update has come regarding dearness allowance of employees. Under which it has been said that the dearness allowance of the employees will soon increase by this percentage…
DA Hike: The heartbeats of central employees are increasing. The wait has been long. But now the wait is about to end. The wait for dearness allowance is now just a few days away. The festive season is starting in October. In such a situation, festivals will bring joy in the lives of central employees. You will definitely get the gift of dearness allowance. The Central Government may soon announce an increase in Dearness Allowance (DA) for central employees and pensioners. It is confirmed how much dearness allowance is going to increase.
Now just wait for a few days…
To fight inflation, the central government increases dearness allowance from time to time. Usually it is revised in January and July. However, the announcement of increase in DA and payment is made with some delay. We have reached the last phase of September. In such a situation, there are not many days left for the announcement of dearness allowance. But, the question remains that how much increase in dearness allowance can the central employees expect this time? Let us know.
How much increase is expected in DA?
DA for central government employees is calculated on the basis of the latest Consumer Price Index for Industrial Workers (CPI-IW). There is a fixed formula for calculating dearness allowance of central government employees and pensioners.
7th CPC DA% = [{Average of AICPI-IW (Base Year 2001=100) for the last 12 months – 261.42}/261.42×100] =[{382.32-261.42}/261.42×100]=
46.24
As you can see from the table, the average CPI-IW for the last 12 months would be 382.32. According to the formula, DA will be 46.24%. As per the prescribed formula, the current DA is available at 42% (DA 42% is applicable from January 1, 2023). In such a situation, according to the new calculation, the increase in DA from July 1, 2023 will be 46.24%-42% = 4.24%. Now, because the government does not make payments in decimal, there will be an increase of only 4 percent in their dearness allowance. If sources are to be believed, the central government will announce a 4% increase in dearness allowance in October.
