7th Pay Commission: Latest News and Updates on Expected 3% Hike in DA Rate
There are multiple reports suggesting that the rate of dearness allowance (DA) of central government employees, who receive salary as per the recommendations of the 7th Pay Commission, would be hiked again.
New Delhi, September 9: There are multiple reports suggesting that the rate of dearness allowance (DA) of central government employees, who receive salary as per the recommendations of the 7th Pay Commission, would be hiked again. Currently, central government employees get DA at the rate of 28 percent. This rate of DA came into effect from July 1. Reports say there could be a hike of 3 percent in the DA rate. 7th Pay Commission Latest News Today: Major Hike in Salary of Central Government Employees If DA Rate Touches 31%, Check Calculation Here.
The rate of DA is usually hiked twice every year. This year, however, it has been increased only once. The Centre had increased the rate of DA by 4 percent in January this year. But the increment came into effect from July 1. Now, central government employees get 28 percent of their basic pay as DA under the 7th Pay Commission. While reports suggest another hike of 3 percent, the Centre has been tight-lipped on the issue.
Some reports had said that another hike in the DA rate could be announced this month. However, no such announcement has been made so far. Some other reports now suggest the Centre is expected to announce a hike of 3 percent in the DA rate by Dussehra or Diwali, meaning in October or November. The government has neither denied nor confirmed any of the reports. But the employees are hopeful that their salary will soon increase under the 7th Pay Commission.
Why 3 Percent Hike in DA Rate More Likely:
The All India Consumer Price Index (AICPI) reached 120.6 following an increase of 0.5 points in the index for May 2021. The data for June is yet to be released. If the AICPI reaches 130 in June, a hike of 4 percent in the DA rate is possible. However, according to a DNA report, an increase of 10 points is highly unlikely, therefore, a 3 percent hike in the DA rate is more likely.
(The above story first appeared on LatestLY on Sep 09, 2021 10:22 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).