7th Pay Commission, DA Hike: There is a big good news for Central government employees coming in just one week. It is expected that the salary of employees will get a huge boost after the announcement on May 21. It is noted that the central Government recently in March had hiked the Dearness allowance of employees by 4%. It has been implemented from the January. Once again the central government is mulling to increase the DA and a meeting is scheduled to be held on May 31 evening regarding the hike of DA.
The Government will update the DA score on the evening of May 31. Therefore, new numbers of AICPI index will be released on May 31. It will be easier to calculate the rate of increase of DA with the AICPI numbers. This will give clear details of the DA increase in the July. It is also noted that the AICPI numbers have been encouraging for far. Moreover, it is estimated that there can be 3-4 per cent increase in DA by the end of July.
7th Pay Commission, DA Hike: DA increase
The current calculation shows that the DA Hike has increased to 44.46 per cent. While it was 43.79 percent in February. The AICPI number will come on 31 May. However, the numbers for the months of May and June are yet to come. Between January and March, dearness allowance has increased by 2 percent. Actually, the index was at 132.3 points in December, at that time the dearness allowance was 42.37 percent. But, according to the figures in March 2023, the index has reached 133.3 and the dearness allowance score has reached 44.46 per cent. Now, if we make this calculation the basis, then till June the index can increase by 2 percent more. If this happens, the dearness allowance will reach 46 percent, which will be applicable from July 2023.
Dearness allowance for central employees
The current rate of dearness allowance for employees under the central government is 38 percent. If there is an increase of 4 percent by July, then the dearness allowance will increase to 46 percent. Due to this, there will be a big jump in the salary of the employees. April numbers will come on 31st May. But, the whole picture will be clear only after the numbers of May and June.
Increase in Basic salary of central employees
Central government employees will get a huge increase in Salary in the year 2024. According to the sources, the dearness allowance can cross 50 per cent. It is calculated that the DA will be increased by 4 per cent in July. The total DA hike will be 46 percent and if the DA will be further increased by 4 % in January 2024, then the total DA will be 50% in January. In such a situation, the total dearness allowance will be reduced to zero (0). When the government had changed the base year, it had also implemented this rule that if there is 50% dearness allowance, it would be made zero and the money of dearness allowance would be added to the basic salary of the employees. After this dearness allowance will start from zero.
