7th Pay Commission DA Hike Latest Update: The government revises dearness allowance twice a year. Last year in October, Modi Govt had given the gift of 4% DA hike and now central employees can get the gift before Holi. According to sources, a decision on this may be taken today.
The Narendra Modi-led government at the Center can make a big announcement today regarding the Dearness Allowance (DA) of Central Employees and it is expected that their Dearness Allowance-Dearness Relief (DA-DR) will increase by Rs. 4.
By increasing the percentage, it can give Holi gift to lakhs of employees and pensioners. The report quoted sources as saying that this decision can be taken on Thursday to provide relief to the employees before the general elections. This big update has come a few months before the Lok Sabha elections to be held in April-May.
Government may increase DA by 4%
In the report of Business Today TV, quoting sources, it has been said that the Modi Cabinet (PM Modi Cabinet) can today give its approval to the increase of 4 percent in DA of central employees. Earlier, in the month of October last year 2023, the cabinet had increased DA by 4 percent (4% DA Hike). After this it increased from 42 percent to 46 percent.
According to the report, Union Information and Broadcasting Minister Anurag Thakur said that the release of additional installment of dearness allowance and dearness relief is applicable from July 01, 2023. This increase is as per the approved formula based on the recommendations of the 7th Central Pay Commission.
HRA will also increase if DA is 50%
If, according to the report, the government announces a 4 percent increase in the dearness allowance of central employees today, then the dearness allowance they receive will increase to 50 percent. If this happens, there will be an increase in House Rent Allowance (HRA), Child Education Allowance as well as Transport Allowance and the take-home salary of central employees will increase.
This decision of Modi Government will benefit 48.67 lakh central government employees and 67.95 lakh pensioners. However, no official comment has been made by the government in this regard yet.
CPI-IW crosses 392 for 12 months
The government revises dearness allowance for central employees and pensioners twice a year. The government takes the decision to increase DA-DR on the basis of All India CPI-IW data. According to reports, the 12-month average of CPI-IW for Industrial Workers has been 392.83 and accordingly, DA is coming to 50.26 percent of the basic pay. According to the news, this time also DA may be increased by 4% and dearness allowance and dearness relief tax will be 50%.
This is the calculation of salary increase
If we look at the salary hike calculation of central employees after DA Hike, if a central employee gets a basic pay of Rs 18,000, then the dearness allowance of the employee is currently Rs 8,280 at the rate of 46 per cent, whereas after an increase of 4 per cent in it, If calculated according to 50 percent, it will increase to Rs 9,000. That means, there will be a direct increase of Rs 720 in his salary.
If we calculate it on the basis of maximum basic pay, then an employee getting Rs 56,900 gets DA of Rs 26,174 at the rate of 46 per cent, if it is 50 per cent then the figure will become Rs 28,450. That means the salary will increase by Rs 2,276.
