7th Pay Commission latest news today: The Labor Bureau has released the data of the AICPI index, which determines dearness allowance, till May. Now the June figures are to be released. These figures were to come on July 31, but there has been a delay in it.
7th Pay Commission latest news today: Good news has come for central employees regarding dearness allowance. The way has been cleared for the dearness allowance to increase in July 2024. However, the number of AICPI index for June 2024 has not been released yet, but it has been confirmed how much their dearness allowance will increase. Once again, a 3 percent jump can be seen in the dearness allowance of the employees. This will be the first time in two years that there will be a jump of 3 percent. In the last four times, dearness allowance was increased by a jump of 4 percent. The Labor Bureau has released the data till May of the AICPI index, which decides the dearness allowance. Now the number for June is to be released. This number was to come on July 31, but it has been delayed. However, if we look at the current trends, there will be a jump of 3 percent in dearness allowance. At present, dearness allowance has reached close to 53 percent.
What is the number of AICPI index?
The numbers from the AICPI index decide how much the dearness allowance can increase. Based on the numbers between January and June 2024, it will be decided how much dearness allowance the employees will get from July 2024. So far, the numbers for January, February, March, April and May have come. Let us tell you, till now the central employees coming under the 7th Pay Commission are getting 50 percent dearness allowance. Now the new dearness allowance will be implemented from July. In January, the index number was at 138.9 points, due to which the dearness allowance increased to 50.84 percent. After this, the index was at 139.2 points in February, 138.9 points in March, 139.4 points in April and 139.9 points in May. On this pattern, dearness allowance has reached 51.44 percent, 51.95 percent, 52.43 percent by April and 52.91 percent in May.
Dearness allowance will increase only by 3 percent
If experts are to be believed, only 3% revision is visible in dearness allowance. According to the index, till May, dearness allowance is at 52.91%. June’s number is yet to come. If the index increases by even 0.7 points in June, it will reach 53.29%. For a jump of 4%, the index will have to reach 143 points, which seems impossible. There will not be such a big increase in the index. Therefore, employees will have to be satisfied with 3% this time.
When will the announcement be made in dearness allowance?
The next revision in DA Hike for employees will be applicable from July 1. But, it can be announced by September or October. The Labor Bureau will submit its data to the Finance Ministry and on the recommendation of the Finance Ministry, it will be approved by the Cabinet. Usually, the Dearness Allowance to be implemented from July is announced at the end of September or the beginning of October. In case of announcement in September, the employees will get the arrears of July and August and it will be paid in the salary of the same month.
Dearness Allowance will not be zero
The dearness allowance of the employees will not be zero. The calculation of dearness allowance will continue. There is no fixed rule regarding this. Last time this was done when the base year was changed. Now there is no need to change the base year at present and there is no such recommendation either. Therefore, further calculation for central employees will be beyond 50 percent.
