7th Pay Commission: Will Centre Announce 4% DA Hike Ahead of Holi 2023? Check Latest News Update Here
The dearness allowance is likely to be hiked by 4 percent as a new formula has been agreed on for the same. Reports also suggest that the DA hike could most possibly be announced before Holi 2023, however, no confirmation has been made on the same.
Mumbai, February 14: The Narendra Modi-led government is likely to take decisions on dearness allowance hike, DA arrears and Fitment Factor hike soon. Central government employees under 7th pay commission have been waiting eagerly for updates on the above mentioned demands. A 4 percent hike is expected to be announced, however, no official announcement has been made as yet.
Every year, the Centre hikes DA of government employees and DR of pensioners twice. First in January and then six moths later in July. Last year, the DA of government employees under 7th CPC was hiked twice - first in March and then in September. The last DA hike was of 4 percent, which raised the Dearness Allowance from 34 percent to 38 percent. 7th Pay Commission: Centre Likely To Raise Minimum Salary From Rs 18,000 To Rs 26,000 After Holi 2023, Say Reports.
According to a report in Prabhat Khabar, the dearness allowance is likely to be hiked by 4 percent as a new formula has been agreed on for the same. Reports also suggest that the DA hike could most possibly be announced before Holi 2023, however, no confirmation has been made on the same. If approved, the DA hike will benefits government employees and pensioners alike.
Besides DA hike, the Centre is also expected to decision on long pending demands of DA arrears and raising Fitment Factor. Central government employees have not been paid 18-month DA arrears. On the hand, they want the Centre to increase the Fitment Factor rate from 2.57 percent to 3.68 percent. 7th Pay Commission: Centre Likely To Raise Minimum Salary From Rs 18,000 To Rs 26,000 After Holi 2023, Say Reports.
Meanwhile, reports also suggest that the Centre could replace the 7th pay commission in near future as there are rumours claiming that a new commission could be implemented. A decision regarding the same was expected to be announce during the Union Budget, but FM Niramala Sitharaman made no announcements.
(The above story first appeared on LatestLY on Feb 14, 2023 03:01 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).