Mumbai, March 5: The Central government is expected to announce the first dearness allowance hike of 2023 for its employees under 7th pay commission soon. Several reports doing rounds have claimed that government employees will receive DA hike after Holi 2023, however, there has been no official announcement on the same as yet.
A report in Financial Express has reported that an announcement regarding the next DA hike could be made after the festival of Holi. This means, government employees could receive their next DA hike after March 8. Meanwhile, the demand to receive first DA hike of the year is gaining momentum. 7th Pay Commission: Centre To Release 18-Month DA Arrears After Dearness Allowance Hike? Check Latest News Update Here.
Central government employees received their last DA hike in September 2022 when the Narendra Modi-led government hiked dearness allowance by 4 percent. The DA hike of 4 percent took dearness allowance rate to 38 percent from 34 percent. Ever year, the Centre hikes DA of its employees under 7th pay commission twice.
While the dearness allowance is hiked in January and then later in July, last year the government hiked DA of its employees in March first and then six months later in September. Going by this trend, the Centre could hike DA of its employees anytime soon now. Reports suggest that the government could hike DA by 3 to 5 percent. A DA hike will boost the salary of government employees. 7th Pay Commission Latest News Today: Centre To Hike 4% DA After Holi 2023? Fitment Factor Also Likely To Be Raised.
There are also reports stating that the Centre could introduce a new pay commission and replace the existing 7th pay commission. If reports are to be believed, the Centre could introduce 8th pay commission in 2024 before the Lok Sabha elections and implement it two years later in 2026.
(The above story first appeared on LatestLY on Mar 05, 2023 03:29 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).