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.
7th Pay Commission DA Hike 2023: The wait of central employees for the next dearness allowance may end soon. There is news that between Navratri and Diwali, the Modi government at the Center can once again make a big increase in the DA of central employees, for this the Finance Ministry has prepared a proposal and it can soon be placed in the cabinet meeting. Looking at the data of AICPI Index, it is expected that this time also DA may be increased by 4%, although official confirmation is yet to be done.
New rates will be applicable from July, 4% DA increase possible
According to media reports, considering the AICPI Index data from January to June, Modi government can increase DA and DR by 4%. At present the benefit of dearness allowance is 42%, which is estimated to be 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. There is a possibility that it will be announced anytime after October 20. May go.
1 crore employee pensioners will get benefits
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 available 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. This will benefit 47.58 lakh employees and about 69.76 lakh pensioners. It is believed that DA-DR will be paid to the central employees and pensioners drawing salary under the 7th Pay Commission by the end of October, although no official statement or confirmation has been made by the government in this regard.
How much will the salary increase on 4% DA hike?
- After the increase in dearness allowance by 4 percent, the salary of central employees can increase by Rs 8,000 to Rs 27,000 annually. DA for central government employees is calculated on the basis – {Average All India Consumer Price of the last 12 months Index (Base Year-2001=100-115.76/115.76}X100.
- The formula for Central Public Sector employees 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.
- 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)
