DA hike news: After the implementation of the 7th Pay Commission in the year 2016, the Labor Ministry had also changed the formula of Dearness Allowance Calculation. The Labor Ministry changed the base year of Dearness Allowance in 2016 and released a new series of Wage Rate Index (WRI-Wage Rate Index). The Labor Ministry said that the new series of WRI with base year 2016=100 replaced the old series with base year 1963-65. Now once again the formula of dearness allowance is going to change. Let us know the complete details below…
Dearness allowance (DA hike news) of central employees will increase in March. This will increase by 4 percent. The total dearness allowance will reach 50 percent. But, the calculation after this will change. After the increase in DA in March, it will be calculated in a new way. The figures for calculation of the next dearness allowance (da hike big news) will start coming from February 29. The increase in dearness allowance (DA Hike) in July 2024 will be calculated using a new method or rather a new formula. There is a reason behind this, in fact after reaching 50 percent dearness allowance it will be reduced to zero (0).
Central employees news are currently getting 46 percent dearness allowance. It is clear from the recent AICPI index data that this time also DA has increased by 4%. However, it is yet to be approved by the Union Cabinet. Employees will get the benefit of increased DA from April salary. But, it will be implemented from January 1, 2024. Meanwhile, the next preparations have started. After January, the next increase in dearness allowance (da hike big update) will be in July 2024. There may be changes in the calculation of this dearness allowance. Because, after 50 percent dearness allowance, it will be reduced to zero and the calculation of new dearness allowance will start from 0.
What is DA?
Central and state government employees get Dearness Allowance (DA) to improve their cost of living. Dearness allowance is calculated in proportion to inflation. DA is kept as part of the salary structure as an allowance to the employee to improve his standard of living. Dearness Allowance (DA) is given to central employees, public sector employees and dearness relief to pensioners. The same structure applies in the states also.
DA is calculated from the new series of base year.
The Labor Ministry had also changed the formula for calculating dearness allowance after the implementation of the 7th Pay Commission in the year 2016. The Labor Ministry changed the base year of dearness allowance (da hike) calculation in 2016 and released a new series of Wage Rate Index (WRI-Wage Rate Index). The Labor Ministry said that the new series of WRI with base year 2016=100 replaced the old series with base year 1963-65.
