7th Pay Commission Latest News Today: Here’s How Much Your Salary Will Increase if DA Is Hiked to 31%
According to a report, the Centre may soon announce another hike of 3 percent in DA. If it happens, central government employees will get 31 percent of their basic pay as dearness allowance.
New Delhi, August 12: The Centre recently hiked dearness allowance or DA to 28 percent for central government employees under the 7th Pay Commission. According to a report, the Centre may soon announce another hike of 3 percent in DA. If it happens, central government employees will get 31 percent of their basic pay as dearness allowance. In other words, there will be an increase in their monthly pay. Scroll down to know how much your salary will increase if DA is hiked to 31 percent. 7th Pay Commission Latest News Today: DA Hiked to 28%, Here's How Much a Central Government Employee's Salary Will Increase.
The government usually increases rate of DA twice every year - in January and July. The last increase of 4 percent in DA rate was announced in January this year. But the increment for July-December 2021 has not been announced till now. From July 1, central government employees get 28 percent of their basic pay as DA under the 7th Pay Commission. According to a report by DNA, a hike of 3 percent in DA may be announced by the government. 7th Pay Commission Latest News Today: HRA To Be Increased After Hike in DA, Here's How Much Raise Is Expected.
Here's How Much Your Salary Will Increase If DA Hiked to 31%
- Basic salary of the employee Rs 18,000
- New Dearness Allowance (31%) Rs 5580/month
- Existing Dearness Allowance (28%) Rs 5040/month
- Calculate the difference: 5580-5040 = Rs 540/month
- Increase in annual salary 540X12 = Rs 6,480
The DNA report highlighted that the All India Consumer Price Index (AICPI) has reached 120.6 following an increase of 0.5 points in the index for May 2021. The Ministry of Labour has not released the data for June. The report said that it is highly unlikely that there will be any major increment in June data. If the AICPI touches 130 in June, a hike of 4 percent in DA could be announced. But it is impossible for AICPI to jump 10 points in a month, hence, a 3 percent hike in DA is more likely, the report noted.
(The above story first appeared on LatestLY on Aug 12, 2021 12:36 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).