7th Pay Commission DA Hike 2023: Before Diwali, the Modi government at the Center has given the gift of dearness allowance, Diwali bonus and 3 months arrears to the central employee pensioners. In November, the salary of employees and pension of pensioners has increased, they have also been given the benefit of 3 months arrears and bonus. Now the next dearness allowance will be revised in 2024, although the amount of increase next time will depend on the half yearly data of AICPI index. From the data of AICPI index till September, it is being speculated that in the new year DA will be 50% or more. Can be crossed.
How much can DA increase again by 4 to 5% in 2024?
Actually, the Central Government revises the DA/DR rates of central employees-pensioners twice a year in January and July, which depends on the half yearly data of AICPI index. New rates have been announced for 2023 and now the next DA will be revised in the year 2024, which will depend on the AICPI index data for July to December 2023.
After the AICPI index numbers of July and August, now the figures of September 2023 have been released, the All India CPI-IW has declined by 1.7 points to reach 137.5 in September, despite this the DA score has come down to 48.54 percent, because till now There has been a jump of 2.50 percent in the numbers. The figures for October, November and December are yet to be released. If this figure crosses 49% in October, then it is expected to cross 50% by December, in such a situation DA can increase again by 4%, however the data of October, November and December will decide how much DA will be in January 2024. It will increase and the final decision will be taken by the Central Government only.
Will the new pay commission be implemented?
- If the DA rates are increased again by 4% for January 2024 next year, then DA will reach 50%, in such a situation the salary of the employees will be revised because with the formation of the 7th Pay Commission, the Central Government has revised the rules of DA. It was decided that DA will become zero when it reaches 50%, 50% DA will be given by adding it to the existing basic salary and the calculation of DA will start from zero. Many types of allowances will also increase by up to 25%.
- The 7th Pay Commission was constituted in 2013, while its recommendations were implemented in 2016, hence speculations are being made that if DA reaches 50% and becomes zero then the government will have to constitute a new pay commission (8th pay commission). Or will a new rule have to be brought regarding increasing the salary. Since till now a new pay commission has been constituted every 10 years, the government may have to consider a new pay commission in 2024, although it has not been officially confirmed yet, but considering the current circumstances, it can be estimated. Used to be.
This is how dearness allowance is calculated
DA for Central Government employees is calculated on the basis – {Average All India Consumer Price Index of last 12 months (Base Year-2001=100-115.76/115.76}X100. For Central Public Sector employees, the formula is as follows – { Average of 3 months All India Consumer Price Index (Base Year-2001=100-126.33/126.33}X100. In other words, dearness allowance is calculated based on the current rate of DA and basic salary multiplied by The amount is withdrawn.
A look at the data of AICPI index September 2023
- The Consumer Price Index for Industrial Workers is compiled every month by the Labor Bureau, an attached office of the Ministry of Labor and Employment, based on retail prices collected from 317 markets in 88 important industrial centers of the country. This index is compiled for 88 centers and all India level and is released on the last working day of the following month. The index for the month of September, 2023 is being released in this press release.
- The All India CPI-IW for September 2023 declined by 1.7 points to 137.5 (one hundred thirty-seven point five). On a month-on-month percentage change basis, it has declined by 1.22 per cent compared to the previous month, while an increase of 0.84 per cent was recorded during the same month a year ago. Year-on-year inflation for September 2023 is expected to be 4.72 per cent. percent, whereas last month it was 6.91 percent and in the same month a year ago it was 6.49 percent. Similarly, the food inflation rate stood at 6.52 per cent as compared to 10.06 per cent last month while it was 7.76 per cent during the same month a year ago.
