Employee DA Hike 2023: It is expected that according to the AICPI Index data received so far, DA can be increased by 4 percent, if it is implemented from July then the arrears will also get the benefit. However, official confirmation is yet to be made.
7th Pay Commission/Central Employee DA Hike 2023: The wait of central employees and pensioners regarding DA is going to end soon. Employees and pensioners may once again get the gift of dearness allowance. According to the latest media reports, the Modi government at the Center may announce dearness allowance for the next half year between Navratri and Dussehra. It is expected that according to the AICPI Index data received so far, DA may be increased by 4 percent. If it is implemented from July then the benefit of arrears will also be available. However, official confirmation is yet to be made.
Decision may be taken after October 15
According to media reports, Modi government may announce increase in DA during Navratri. Any time after October 15, the proposal for DA increase can be brought in the Union Cabinet meeting and approved. Because every time the Central Government gives green signal to DA increase during Dussehra and Durga Puja. In such a situation, there is a possibility that this time also the Modi government can announce the increase in DA and DR any time after October 15. If sources are to be believed, assembly elections are to be held in five states in the coming days, in view of the announcement of the dates by the Election Commission, the government can make a big announcement regarding DA soon.
4% increase possible, will increase to 46%
According to media reports, looking at the AICPI Index data from January to June, Modi government can announce a 4% increase in DA and DR. At present the benefit of dearness allowance is 42%, which is estimated to be 46% after the increase. This will be implemented from July 2023, in such a situation, 3 months arrears will also be given to the employees, the same allowances will also increase. Also, the benefit of increased dearness allowance (DA) and arrears can be given in the October salary, which Will be available in November. However, official confirmation is yet to be made.
There will be a jump in salary pension
It is believed that the proposal for DA increase can be placed in the cabinet meeting soon and after getting the approval, the Central Finance Department will issue the order. With the increase in DA, there will be a bumper jump in the salary of employees and pension of pensioners. Due to this, the salary of central employees can increase from Rs 8,000 to Rs 27,000 annually.
For example, if the basic pay of an employee is Rs 18,000 and he currently gets dearness allowance at the rate of 42 per cent, then it comes to Rs 7,560, which will increase to more than Rs 8,100 at the rate of 46 per cent.
At the maximum basic pay of Rs 56,900, it will be around Rs 27,000. Those with a salary of Rs 38,500 will get a benefit of more than Rs 17,000. You will also get the benefit of the same allowances. This will benefit 47.58 lakh employees and about 69.76 lakh pensioners.
Know how dearness allowance is made
DA/DR rates are revised by the Central Government twice a year in January and July, depending on the half yearly data of AICPI index. The first increase is considered effective from January 1 and the second from July 1. The increase in dearness allowance is reviewed by the Central Government on the basis of AICPI data of inflation sent by the Labor Ministry. Its objective is that people receiving salaries and pensions should not face problems in living a proper life due to inflation.
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.
In other words, the amount of dearness allowance is calculated on the basis of multiplying the current rate of DA and basic salary. For example, if your basic salary is Rs 18,000 and DA is 46 percent, then your DA formula will be (46 x 29200) / 100. Similarly, dearness relief for pensioners is also calculated.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
