7th Pay Commission: Another Salary Hike On Cards For Central Government Employees As DA Likely to Be Hiked by 4%
The Central Government employees recently got 4% hike in Dearness Allowance (DA) and Dearness Relief (DR). The revised DA/DR rate will be applicable from January 1, 2023. Meanwhile, the employees are looking forward to the next DA hike to be effective from July 2023 on the recommendations of 7th pay commission.
Delhi, April 29: The Central Government employees recently got 4% hike in Dearness Allowance (DA) and Dearness Relief (DR). The revised DA/DR rate will be applicable from January 1, 2023. Meanwhile, the employees are looking forward to the next DA hike to be effective from July 2023 on the recommendations of 7th pay commission.
The Dearness Allowance rate is decided by the Government as per the All-India CPI-IW data released by the Labour Bureau under the Ministry of Labour and Employment.
According to latest reports and data from the All-India Consumer Price Index (AICPI) for the last four months, it is expected that the dearness allowance (DA) will see another surge of 4% for the 7th Pay Commission, which will be effective from July. As per recent statistics, there are around 47.58 lakh central government employees and 69.76 lakh pensioners. 7th Pay Commission: Central Government Employees Likely To Get DA Hike From July, Know How Much Increased Dearness Allowance Is on Cards.
The formula used by the Central Government to calculate the Dearness Allowance Percentage for employees is ((Average of the All-India Consumer Price Index (Base Year 2001=100) for the previous 12 months -115.76)/115.76)x100. For Central Government employees, the formula is modified to use the average of the All-India Consumer Price Index for the previous three months, which is ((Average of the All-India Consumer Price Index (Base Year 2001=100) for the previous three months -126.33)/126.33)x100. 7th Pay Commission News Today: Another DA Hike on Cards? Government Employees May Soon Get Increased Dearness Allowance From July 2023.
Jharkhand's state cabinet, led by Chief Minister Hemant Soren, announced on Thursday that the dearness allowance for state government employees would be raised from 34% to 42%. This increase is in accordance with the accepted formula, which is based on the recommendations of the 7th Central Pay Commission.
(The above story first appeared on LatestLY on Apr 29, 2023 10:04 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).