7th Pay Commission: Good news for over 1 crore govt employees! Huge INCREMENT in the offing
7th Pay Commission: The Central government employees and pensioners are crossing their fingers for the official announcement of 4% DA hike in their salary. The labour ministry on Tuesday released the data of AICPI index which paved the way for the increase in DA and DR. This time the DA will be raised to 46% from 42%. Over 1 crore central government employees has pinned hope on AICPI index data.
According to the media reports, it is expected that the official announcement will come ahead of Raksha Bandhan in August. The DA hike will be applicable from July 1, 2023.
The central government increases the DA of its employees in proportion to inflation. There is a higher possibility of 4% DA hike this time which is based on data of June 2023 AICPI index. This will be third time in a row that the government has raised the DA by 4 %. The employees are eagerly for the official announcement.
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Dearness allowance hike
It is noted that dearness allowance was increased from 34 to 38 per cent in July 2022 for the first time with an increase of 4 per cent. After this, for the second time in a row, on March 24, 2023, the dearness allowance of central employees was increased by 4 per cent. After this the DA jumped from 38 to 42 per cent.
In the light of upcoming Lok Sabha election 2024, the central employees are hopeful for the 4 % increase in DA and DR. If this happens, then there may be a hat-trick of four per cent increase in dearness allowance three times in a row.
The Central Government revised the Dearness Allowance and Dearness Relief of employees and pensioners twice a year in January and July. The increase is based on the data of the AICPI index which is released by the Labour Ministry.
The increase in Dearness Allowance will benefit around 47.58 lakh central employees and 69.76 lakh pensioners.
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