7th pay commission: Today is the first day of Hindu new year of Vikram Samvat 2080. It is considered as the auspicious day in Indian tradition. This day is celebrated across the Country with different names like Gudi Padwa in Maharastra, Ugaadi in Kerala and so on. In a nut shell, this auspicious day is the harbinger of happiness for central government employees. Over 1 crore central employees and pensioners of the country can get the gift of increase in Dearness Allowance (DA Hike) and Dearness Relief (DR Hike) from the Modi government. If this happens then a huge amount is going to come in their account.
According to placed sources, Union cabinet meeting on DA hike is likely to be held on March 24, Friday i.e. on the third day of Navratri. The government will discuss all the aspects of DA hike and may take concrete decision on the increase in dearness allowance. According to the information, this time the dearness allowance of the employees may increase by 4 per cent. If this happens, then the current dearness allowance will increase from 38 to 42 percent. It will be money rain for the employees during Navratri.
There are two revisions in the dearness allowance in a year. Looking at the records of the last few years, the government always announces the DA hike in the month of March. In the years 2019, 2021 and 2022, the DA hike has been approved in the last week of March, so it is believed that this time also the government may increase the DA at the end of March. According to the information, the last cabinet meeting of the month of March is also to be held on the 29th, but by announcing the DA hike in the previous meeting, the government will transfer more salary to the accounts of the employees in the month of March.
Increase will be applicable from January 1, 2023 only!
After the announcement of the increase in DA, the Finance Ministry will issue its notification. After the notification is issued by the Ministry of Finance, the increase in the salary of central employees and the pension of pensioners will be implemented. According to the information, if everything goes well, the salary for March will be paid along with the new dearness allowance. While the arrears of January and February will be received. The increased dearness allowance and relief will be applicable from January 1, 2023 itself.
42% DA hike for employees
It is noted that the central employees (7th Pay Commission) are currently being paid DA at the rate of 38 per cent. If it increases by 4 percent, it will increase to 42 percent. After this, the annual dearness allowance will increase to Rs 90,720 for those with a basic salary of Rs 18,000. Talking about the difference from the existing dearness allowance, the salary will increase by Rs 720 per month and Rs 8640 annually. At the same time, there will be an increase of Rs 2276 per month in the salary of employees with a basic salary of Rs 56900 per month. Means the salary will increase by Rs 27312 on annual basis.
Read More :-‘ADANI AIRPORTS WILL BID FOR MORE AIRPORTS,’ SAYS CEO
Employees and pensioners will be benefited
Lakhs of employees of the country are eagerly waiting for this. This will benefit 65 lakh central employees and 48 lakh pensioners. After this, on July 1, 2023, there will be an increase in the DA of central employees once again.
Announcement on the basis of AICPI data
Let us tell you that the increase in Dearness Allowance and Dearness Relief (7th Pay Commission) is announced on the basis of AICPI figures released by the Ministry of Labour. That is, on the basis of AICPI-IW data, allowance is given to the employees by calculating inflation. DA and DR have revision every 6 months. Generally, the dearness allowance for January is announced before Holi in March and that of July is announced before Diwali in September-October.
Read More :-STOCK MARKET OPENING: MARKET TRADING ON GREEN MARK; SBI LIFE, HCL TECH AMONG TOP GAINERS; KNOW DETAILS
Announcement in March and September-October
The last DA revision was done on 28 September 2022, before Diwali. It was considered applicable from 1 July 2022. Then it was increased by 4 percent. Then the DA was 34 per cent, which was increased to 38 per cent. In this, once again the matter of 4 percent increase is coming to the fore.
Read More :- Latest Business News
