DA Hike: The coming months are bringing good news for central employees. If sources are to be believed, the next change in the dearness allowance of the employees will be for July 2023. If we look at the numbers of AICPI index, there can be an increase of 4% in DA. But, a hint has been received about its announcement as well.
DA Hike: The coming months are bringing good news for central employees. A decision will be taken soon on the increase in dearness allowance and dearness relief for employees and pensioners. The next change is due for July 2023. If sources are to be believed, it may increase by 4 percent. But, a hint has been received about its announcement as well. The figures of AICPI index till March have come.
The numbers of three more months are yet to come. This can increase the DA score. On the basis of the current numbers, two and a half percent dearness allowance has been increased. But, after the arrival of the final numbers, the whole situation will be clear. If sources are to be believed, there will be an increase of 4% in DA Hike. At the same time, it can be announced in the first cabinet meeting of September.
Dearness allowance: set to increase by 4%
The new dearness allowance will be effective from 1 July 2023. After the announcement, the employees will be given the benefit by adding the increased DA to the September salary. The difference of the existing DA will be paid along with the arrears. At present, central employees are getting 42% dearness allowance. If you look at the trend of the index, it is sure to increase by 4 percent. With this, the dearness allowance of central employees will increase to 46 percent. The dearness allowance of central employees is linked to the AICPI index. It is clear from the numbers that have come so far that a big jump can be seen in the dearness allowance.
Announcement can be made in the first cabinet meeting of September
The increase in dearness allowance is applicable from January and July. But, they are announced in the months of March and September. The increased dearness allowance for January 2023 was announced on 24 March. At the same time, now the announcement of increasing dearness allowance for July 2023 is expected in the first cabinet of September. At present, there are possibilities of 4% increase in dearness allowance (DA Hike). The index has reached 133.3. The next number of AICPI index will be released on the evening of 31 May.
Expert claims DA will increase by 4%
Experts who calculate inflation claim that 4% DA Hike will be approved for July 2023. The figures for April, May and June of All India Consumer Price Index- IW are yet to come out, but the speed with which the index has increased so far, it is clear that dearness allowance will increase by up to 4%. may boom. The final number of the index will come by July 31, which will confirm the total increase in dearness allowance.
DA Hike: How to know how much it will increase?
The dearness allowance of central employees depends on consumer inflation i.e. All India Consumer price Index. If there is a continuous increase in this figure, then the dearness allowance also increases in the same order. Consumer inflation figures for the first half of this year have come for three months. Looking at this trend, it seems that dearness allowance will increase at the rate of 4% in the coming days. But, now the rest of the index numbers will also have to be seen.
7th Pay Commission: Announcement of dearness allowance from new formula
The Ministry of Labor and Employment had changed the calculation formula regarding Dearness allowance. The Labor Ministry had changed the base year of DA calculation. A new series of Wage Rate Index (WRI-Wage Rate Index) was released. In this, Ministry of Labor released new series of WRI with base year 2016 = 100. It was implemented in place of the old series of 1963-65 base year.
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