DA Hike Latest Update: If dearness allowance increases by 3 percent this time, then the allowance applicable from July 2024 is expected to cross 50 percent. Let us know how much will be the increase in salary this time at the rate of 3 percent?
7th Pay Commission Latest Update: Modi government is soon going to give good news to the central employees and pensioners. The government is likely to announce an increase in dearness allowance soon. This time the increase in DA will be implemented from July 1, 2023. It is being claimed in the media report that this time the government can announce the DA increase before Navratri. However, no official statement has been issued by the government regarding this.
42 percent dearness allowance is being paid
At present, 42 percent dearness allowance is being paid to the central employees by the government. This time it may increase to 42 to 45 percent. This time, dearness allowance is expected to increase by 3 percent.
As per the rules of the Seventh Pay Commission, if there is 50 percent dearness allowance, it will be merged into the basic salary. If this time the dearness allowance increases by 3 percent, then the allowance applicable from July 2024 is expected to cross 50 percent. Let us know how much will be the increase in salary this time at the rate of 3 percent?
Complete Mathematics of DA Hike
1.) If the salary of an employee is Rs 50,000 per month and his basic salary is Rs 25,000.
2.) Such an employee would currently be getting DA of Rs 10,500 every month.
3.) After the 3 percent hike, the employee’s DA will increase to Rs 11,250.
4.) In this way the salary will increase by Rs 750 (Rs 9000 annually) every month.
5.) In such a situation, if the salary of an employee is Rs 50000 per month, then he will get a benefit of Rs 9000 annually. Accordingly, pensioners will also benefit.
According to the data released in July 2023, All India CPI has increased by 3.3 points to reach 139.7 points. Regarding DA hike, General Secretary of All India Railwaymen Federation, Shiv Gopal Mishra had said that the federation is demanding 4 percent increase in dearness allowance. But this time the government is expected to increase dearness allowance by 3 percent. In the year 2006, the formula for calculating DA and DR for central employees and pensioners was changed by the Central Government.