7th Pay Commission: DA Hike For Central Government Employees This Month? Check Latest News Updates Today
New Year 2023 is here and central government employees may soon get a new year gift from the Centre in form of DA hike on 7th pay commission recommendations. Media Reports said that the first round of Dearness Allowance (DA) hike of this year will be announced in January 2023.
Delhi, January 6: New Year 2023 is here and central government employees may soon get a new year gift from the Centre in form of DA hike on 7th pay commission recommendations. Media Reports said that the first round of Dearness Allowance (DA) hike of this year will be announced in January 2023.
As per reports in ZeeBusiness, the government employees might get upto 4 percent hike in DA in the wake of high inflation rates. Earlier last year, central government employees and pensioners were given 3 percent DA hike in January 2022 and the second hike was given 4 percent, effective July 2022 on basis of 7th pay commission. 7th Pay Commission: Salary of Central Government Employees to Increase After Union Budget 2023? Check Latest Update on Fitment Factor.
Dearness allowance (DA) and dearness relief (DR) are revised twice a year, effective January 1 and July 1. The last hike in September benefitted about 48 lakh central government employees and 68 lakh pensioners. 7th Pay Commission: Big Update on DA Hike For Central Government Employees, Here’s How Much Increment is Expected.
Reports also said that the existing formula for DA calculation is set to be replaced with a new formula, by the Ministry of Labor and Employment. The government has released a new series of Wage Rate Index (WRI-Wage Rate Index) with the changed base year from the old old series base year of 1963-65 under the 7th Pay Commission rules
(The above story first appeared on LatestLY on Jan 06, 2023 01:54 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).