If there is a big increase in the figures of AICPI index from January to July, then it will increase the total DA to 45 percent at 3 percent dearness allowance and 46 percent at 4 percent.
The new rates can be applicable from July 1, 2023 and its The announcement can be made around Raksha Bandhan, although it has not yet been officially confirmed that how much DA will increase and when it will be announced.
Central Employee Salary Hike: There is good news for central employees and pensioners. Once again in 2023, 2 more gifts can be received. On the one hand, there are signs of increasing the dearness allowance of the employees by 3 to 4 percent again in July. This is estimated from the AICPI data for February.
On the other hand, before the upcoming elections, there may be a consideration to increase the fitment factor, as once again the discussion regarding the 8th Pay Commission has intensified. If this happens, there will be a bumper jump in the salary of the employees. However, official confirmation is yet to be made.
Actually, the DA of central employees increases twice a year in January and July, it is calculated on the basis of Consumer Price Index for Industrial Workers (CPI-IW) released by Labor Bureau every month. Recently, the February figures released by the Labor Ministry have been released, there has been a decrease of 0.1 point and the number of the index has reached 132.7, in such a situation, there are signs of increasing DA by 2 to 3 percent again in July. This will be the second hike of the year. Although the figures from March to June are yet to come, after that it will be decided by what percentage the DA of the employees-pensioners will increase in July 2023.
DA can be 45 or 46 percent
According to media reports, if there is a big increase in the AICPI index figures from January to July, then it will increase the total DA by 45 percent and 4 percent by 4 percent. The new rates will be applicable from July 1, 2023. It can be announced around Rakshabandhan, although it has not been officially confirmed yet that how much DA will increase and when it will be announced. At present, central employees are getting the benefit of 42 percent DA, which will be applicable from January 1 to June 1, 2023. Its benefits are being given to 48 lakh employees and 69 lakh pensioners.
Fitment factor may increase
Apart from DA, the fitment factor of central employees may also increase. Presently the fitment factor is 2.57 per cent and salary is being given on this basis under the 7th pay scale. But the employees’ unions have been demanding to increase it for a long time, so there is a possibility that keeping in mind the upcoming Lok Sabha elections, the Modi government may consider the fitment factor revision. It can be done up to 3.00 per cent or 3.68 per cent. This fitment factor can be implemented from 2026 and it can be decided by the end of 2023, since elections are due in 2024. It will benefit 52 lakh employees.
There will be a jump in salary up to 96000
The last time the fitment factor was increased in 2016 and from this year the 7th pay commission was also implemented and the minimum salary of the employees was directly increased from Rs 6000 to Rs 18,000 and now if it is increased then the salary of the employees will be two and a half times. Will increase Basic salary will increase from 18000 to 21000 or 26000 directly.
If the basic salary of a central employee is Rs 18,000, then excluding allowances, his salary will be 18,000 X 2.57 = Rs 46,260. At 3.68, the salary will be Rs 95,680 (26000 X 3.68 = 95,680) i.e. Rs 49,420 will be gained in salary. With 3 times fitment factor, the salary will be Rs 21000 X 3 = Rs 63,000. The same basic pay of 15500 can be increased to Rs 39835 . 15500*2.57 = Rs 39,835.
