7th Pay Commission: 4% DA Hike for Central Government Employees by Diwali 2023? Here's How Much Salary Will Increase if Dearness Allowance Is Raised
While central employees were hoping for a 4 percent increase, there are certain indications that it may be raised by 3 percent also.
New Delhi, October 11: The latest update on the 7th Pay Commission is that the Central Government is expected to announce a new dearness allowance (DA) rate for central government employees in October 2023 keeping in mind the upcoming festival of Diwali. The current DA rate is 42%, and it is expected to be increased to 46%. This would mean a salary increase of around 4% for central government employee on 7th pay commission recommendations.
ZeeNews reported that employees can anticipate an enhanced salary for the month of October, coupled with arrears for July to September. 7th Pay Commission DA Hike Update: Centre to Announce Dearness Allowance Hike For Employees Before Diwali? Check Details Here.
How Much Will Salary Increase After 4% DA Hike?
Currently the central government employees are getting 42 percent DA. After the increase the DA will reportedly be 46 percent. On a basic salary of Rs 18,000, the annual DA increase will be Rs 8640 while on a basic salary of Rs 56,900, the annual DA increase will be 27,312. 7th Pay Commission DA Hike Update: Centre to Increase Dearness Allowance for Government Employees Ahead of Navratri 2023? Check Details Here.
The dearness allowance is computed based on the Consumer Price Index for Industrial Workers, a figure released monthly by the Labor Bureau. While central employees were hoping for a 4 percent increase, there are certain indications that it may be raised by 3 percent also.
It may be recalled the Modi government had in March gave its approval to release an additional instalment of Dearness Allowance to Central Governments employees and Dearness Relief to Pensioners with effect from 01.01.2023. The additional instalment represented an increase of 4% over the existing rate of 38% of the Basic Pay/Pension, to compensate against price rise.
(The above story first appeared on LatestLY on Oct 11, 2023 12:37 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).