7th Pay Commission: DA Hike Expected For Central Government Employees Before Diwali, Know How Much Salary May Increase
Indian central government employees are eagerly awaiting a dearness allowance (DA) hike announcement in October, expected as part of the 7th Pay Commission and aligned with Diwali.
Delhi, October 6: Indian central government employees are eagerly awaiting a dearness allowance (DA) hike announcement in October, expected as part of the 7th Pay Commission and aligned with Diwali. The DA currently stands at 50% of basic pay, following a 4% increase in March 2024. The upcoming hike is projected to range between 3-4%, as per media reports.
The government typically reviews DA biannually, based on the All India Consumer Price Index (AICPI), to help employees cope with inflation. The hike will benefit over one crore employees and pensioners, offering crucial financial relief. Dearness Relief (DR) applies to retirees. The announcement is expected in early October on 7th pay commission recommendations, in line with last year’s trend. 7th Pay Commission: Central Government Employees Likely To Get DA Hike Ahead of Diwali 2024, Say Reports.
Once implemented, the salary of entry-level central government employees, with a basic pay of INR 18,000 per month, may increase by INR 540 to INR 720 per month, effective from July 1, 2024. For employees with a basic pay of INR 30,000, the current DA stands at INR 9,000. A 3% hike would raise it to INR 9,540, while a 4% hike would increase it to INR 9,720. Dearness allowance is provided to government employees to offset inflation, while pensioners receive dearness relief. Both are revised biannually. 7th Pay Commission Update: How Much DA Hike Can Central Govt Employees Expect Ahead of Diwali? Check Details.
The DA formula is tied to the average AICPI over the previous 12 months. Although an official percentage increase has yet to be confirmed, this announcement on 7th is eagerly awaited as it plays a significant role in easing living costs for central government employees and pensioners. The hike comes as essential relief ahead of the festive season.
(The above story first appeared on LatestLY on Oct 06, 2024 01:24 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).