7th Pay Commission DA hike news: The Government may announce an increase in the Dearness Allowance for employees and pensioners later this month. The annual rise in inflation-linked allowance will result in compensation increases for central government employees and pensioners. (7th Pay Commission DA hike news)
The current Dearness Allowance for central government employees is 38%. According to reports, the dearness allowance will be hiked by 4% in January 2023. This means that DA will rise from 38% to 42%. The increased DA for central employees will be paid in March salary beginning in January 2023.
The central government hikes DA and DR of government employees and pensioners twice a year. First in January, then again in July. According to AICPI data, the figures will be available until December 2022. As a result, a 4% increase in DA seems almost certain.
The CPI(IW) figure will remain at 132.3 until December 2022. According to the figures, the dearness allowance will increase by more than 4%.
The total DA will be 42% after the 4% dearness allowance increase. The total annual dearness allowance on a Rs 18,000 basic salary is now Rs 90,720. (annually). Every month, there will be a Rs 720 increase. Employees currently receive Rs 6,840 in dearness allowance per month at 38%. Employees will now receive Rs 7,560 per month after the raise.
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For public sector (central government) employees this formula is used:
Dearness Allowance percent = ((Average of AICPI (Base Year 2016=100) for the past 3 months -126.33)/126.33) *100
(7th Pay Commission DA hike news)
How much more will government employees get after DA hike?
If the employee’s basic salary is Rs 18,000 per month, then calculation here:
18000 x 42 / 100 = 7560
New Dearness Allowance (42%) Rs 7560/month
New Dearness Allowance (42%) Rs 90,720/annum
Dearness Allowance till now (38%) Rs.6840/month
How much dearness allowance increased 7560- 6840 = Rs 720 per month
Increase in annual salary 720X12 = Rs 8,640
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