Thursday, February 9, 2023

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7th Pay Commission: Happy news for government employees, DA hike will be announced on this date

7th Pay Commission: December is now ending and the New Year 2023 is round the corner. People have high hopes, expectations, resolutions and many more plannings for the new year. Amid all these humdrum of daily life, there is the happy news for the central employees. In the coming year 2023, central employees are going to get many gifts at once. In this, the first is the increase in Dearness Allowance again, the second is the revision of the Fitment Factor, the outstanding DA arrears of 18 months are also included. If all these expectations of central employees are fulfilled in the year 2023, then there will be a bumper increase in their salary. According to an estimate, the salary of central employees will increase up to double.

Actually, the dearness allowance of central employees is reviewed every 6 months. Dearness allowance is hiked twice a year on the basis of AICPI figures. One hike takes place in January and the other in July. Like every year, in the year 2023 also there will be an increase in the dearness allowance of central employees. Dearness Allowance (DA) for January 2023 is usually announced before Holi. Looking at the inflation figures so far, it seems that there may be an increase of 4 percent in the DA of central employees next year as well. If this happens, the cost of central employees will increase from the current 38 percent to 42 percent.

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The Labour Ministry has released the figures of All India Consumer Price Index- Industrial workers (AICPI). In September this figure stood at 131.2. The overall AICPI index rose by 2.1 per cent till September 2022 as compared to June. Compared to August last month, there was a jump of 1.1 percent. However, the AICPI index numbers for October, November and December are yet to come.

Calculation on minimum basic salary of Rs 18,000

Employee’s basic salary Rs 18,000

New Dearness Allowance (42%) Rs.7560/month

Dearness Allowance till now (38%) Rs.6840/month

How much dearness allowance increased 7560-6840 = Rs 720/month

Increase in annual salary 720X12= Rs 8640

Calculation on maximum basic salary of Rs.56900

Employee’s basic salary Rs 56900

New Dearness Allowance (42%) Rs 23898/month

Dearness Allowance till now (38%) Rs 21622/month

How much dearness allowance increased 23898-21622 = Rs 2276/month

Increase in annual salary 2276X12 = Rs 27312

Over 1 crore employees and pensioners benefited

Significantly, the increase in dearness allowance by the central government will benefit about 47 lakh employees and 68 lakh pensioners of the country. The government had increased DA by 3 per cent at the beginning of the year, after which the dearness allowance had gone up to 34 per cent. Now with the increase in DA by 4 per cent, the dearness allowance will increase to 38 per cent.

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7th Pay Commission latest news: Dearness allowance revised twice a year

Actually the dearness allowance of central government employees is revised twice a year. The first is given from January to June, while the second comes from July to December. Let us tell you that the AICPI index plays an important role in deciding the dearness allowance of central employees.

Read More :- Latest Business News

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