Budget 2023-2024: The full budget is round the corner and the everyone is eagerly waiting for the budget on February 1 (Wednesday). It is the last of Modi government before the general election in 2024.
Every class of society— either it is lower class, low-middle class, middle class and high class — has pinned high hopes on budget 2023-2024.
Employed class is expecting a rebate in income tax, the food provider of the country is also expecting a big improvement in the agriculture sector. At the same time, the central employees also have many expectations from this budget. Central employees have three main demands from this year’s budget. This includes increase in DA, payment of arrears of DA and increase in fitment factor.
If the central government accepts the three demands of the central employees in the budget (Budget 2023), then there is a possibility of a big increase in their salary. The employees have hope that the government will include these three things in the budget (Budget 2023). As of now, it will be known only on February 1 that what the central employees and pensioners would get from this budget?
Budget 2023-2024: 18-month DA arrears
The issue of 18 months DA Arrears, the most prominent demand of the central employees, is still pending. It is expected that the government can solve it by finding a way out in the budget. In fact, the DA of the last 18 months from January 2020 to June 2021, during the Corona period, is still pending. Looking at the demands of the employees’ unions, the government may adopt a middle way in this regard and announce a lump sum amount. If this happens then up to Rs 2.18 lakh can come in the account of the employees.
DA hike to be announced soon
Seeing the inflation, the central employees are demanding the announcement of DA Hike as soon as possible. In fact, every year in January and July, the government announces an increase in the dearness allowance of central employees. In such a situation, there is a demand of the employees that the central government should announce an increase in their DA in February, so that the salary increases in their account in Holi. Actually, the dearness allowance of central employees (7th Pay Commission) 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. If the dearness allowance is increased by 3 percent, then the cost of central employees will increase from the current 38 percent to 41 percent. After a four per cent increase in DA in September 2022, now central employees are waiting for an increase in dearness allowance in the new year.
Increase in fitment factor
Along with this, the central employees have been demanding revision in the fitment factor from the government for a long time. In such a situation, it is expected that this is the last full-time budget of the Modi government before the 2024 general elections, in such a situation, the government is demanding a continuous increase in the fitment factor while giving great relief to the central employees. Therefore, after the Union Budget, the government can make a big announcement on increasing the revision in the fitment factor. If there is an increase in the fitment factor, then there can be a big increase in the salary of the employees.
At present, fitment factor is being given to central employees at the rate of 2.57 per cent. There is a demand to increase it to 3.68 times. With the increase in fitment factor from 2.57 to 3.68, the minimum basic pay will increase from Rs 18,000 to Rs 26,000. If the central government accepts this demand, then there will be a tremendous increase in the minimum salary of central employees.
Significantly, the last time the fitment factor was increased in the year 2016. The 7th Pay Commission was also implemented in the same year. At that time the minimum salary of the employees went straight from Rs 6000 to Rs 18,000. While the ceiling was increased from Rs 90,000 to Rs 2.5 lakh. Now the government can again increase the salary of central employees this year.
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