DA Hike: Great news is coming for the central employees in the next one week. New good news will come for the employees. There will be a tremendous jump in his salary. This new update is related to dearness allowance only.
DA Hike: Great news is coming for the central employees in the next one week. New good news will come for the employees. There will be a tremendous jump in his salary. This new update is related to dearness allowance only. Let me tell you, the government had increased the dearness allowance of the central employees in March itself. It was increased by 4 percent. But, now on the evening of May 31 i.e. Wednesday, once again a big announcement is going to be made regarding dearness allowance.
Names of central employees on the evening of May 31
The DA score will be updated on the evening of May 31. This means that new numbers of AICPI index will come on this day. After that it will be known how much the dearness allowance has increased. So far the AICPI update of March 2023 has come. But, now the number of April 2023 has to come. This will make the picture of the increase in July more clear. So far the numbers of the AICPI index have been very encouraging. The dearness allowance (DA Hike) figure has reached close to 45 per cent. It means that it is certain that DA will increase by 3 percent. But, by the end of July, this figure can show a jump of 4%.
How much can dearness allowance increase?
If we look at the current calculation, then the DA Hike has increased to 44.46 percent. Whereas in February it was 43.79 percent. The April number will come on the evening of 31 May. But, even after this the numbers for the months of May and June are yet to come. Between January and March, dearness allowance has increased by 2 percent. Actually, the index was at 132.3 points in December, at that time the dearness allowance was 42.37 percent. But, according to the figures in March 2023, the index has reached 133.3 and the dearness allowance score has reached 44.46 per cent. Now, if we make this calculation the basis, then till June the index can increase by 2 percent more. If this happens, the dearness allowance will reach 46 percent, which will be applicable from July 2023.
How much is the dearness allowance for central employees now?
The current rate of dearness allowance for employees under the central government is 38 percent. If there is an increase of 4 percent by July, then the dearness allowance will increase to 46 percent. Due to this, there will be a big jump in the salary of the employees. April numbers will come on 31st May. But, the whole picture will be clear only after the numbers of May and June.
How else can the basic salary of central employees increase?
There will be a bumper increase in the salary of central employees in the year 2024. Because, in this year the dearness allowance can cross 50 percent. If there is a 4 percent increase in July 2023, then the dearness allowance will be 46 percent. If DA increases rapidly by 4 percent even in January 2024, then dearness allowance will reach 50 percent. In such a situation, the total dearness allowance will be reduced to zero (0). When the government had changed the base year, it had also implemented this rule that if there is 50% dearness allowance, it would be made zero and the money of dearness allowance would be added to the basic salary of the employees. After this dearness allowance will start from zero.
There will be a big jump in HRA of central employees
According to the 7th Pay Commission, if the dearness allowance becomes zero, then it has to be added to the basic salary. But, the revision of HRA will also happen on 50% DA Hike only. According to a circular of DoPT, there will be an increase of 3 percent in HRA if the dearness allowance is 50 percent. HRA is given in three categories. The existing rates of HRA are 27%, 18% and 9%. HRA rates were fixed at 27%, 18% and 9% when DA crossed 25%. The next revision in house rent allowance will be 3%. The maximum rate of HRA will increase from the existing 27 percent to 30 percent. But, this will happen when the dearness allowance revise will cross 50%.
How much HRA will increase in which category?
According to the memorandum, HRA will be 30%, 20% and 10% when DA crosses 50%. The category of House Rent Allowance (HRA) is according to X, Y and Z class cities. The central employees who fall in the X category are getting 27% HRA, which will be 30% if DA is 50%. At the same time, for Y class people, it will increase from 18 percent to 20 percent. For Z class people, it will increase from 9 percent to 10 percent.
