At present the central employees are getting the benefit of 46% DA and according to the AICPI index data from July to November, DA is expected to increase again by 4% from January. If there is an increase of 4% it will become 50%. With this, 50% of Rs 9000 will be added to the salary of employees with minimum basic salary of Rs 18000. Similarly, other employees will get DA based on their salary.
Salary Hike 2024: Before the Lok Sabha elections 2024, central employees and pensioners can also get 3 big gifts. This includes dearness allowance, house rent allowance and fitment factor. It is reported that on the basis of AICPI index data from July to December 2023, dearness allowance can be increased by 3 to 4%, while with the increase in DA, HRA will also increase. Apart from this, Modi government is going to present the interim budget on February 1, in such a situation, there is a possibility that increasing the fitment factor can also be considered. If there is agreement on these three, there will be a big jump in the salaries of the employees.
Dearness allowance decided to increase by 3 to 4 percent
The rates of dearness allowance and dearness relief of central employees and pensioners are revised by the Central Government twice a year in January and July, depending on the half yearly data of AICPI index, AICPI index from July to November 2023. It is considered certain to increase DA by 4% from Rs. However, at the end of January, the final marks of December 2023 will also come, after which it will be clear what percentage will be the increase in DA from January 2024. At present the employees are getting the benefit of 46% DA.
DA is expected to reach 50 percent after Holi. The new DA will be extended from January 2024, which will be applicable till June 2024, in such a situation arrears will also be available. It is believed that new rates can be announced before the dates of Lok Sabha elections and the code of conduct coming into effect. Its benefit will be Rs 48 lakh. Employees and 68 lakh pensioners will get it. However, official confirmation is yet to be done.
Many allowances including HRA-TA will increase as DA increases.
If media reports are to be believed, with the increase in DA, the Modi government at the Center may also increase the House Rent Allowance by 3 percent in the new year. After this, HRA will increase from 27% to 30%, but this will happen only when DA crosses 50%, because the house rent allowance of the employees is revised according to DA. When DA crosses 50%, HRA will be 30%. , will be 20% and 10%. This can increase the salary by more than 20 thousand. At present, X category employees will get 27 percent of their basic salary, Y category employees will get 18 to 20 percent and House rent allowance is being given at the rate of 9 to 10%.
Apart from DA and HRA, there may also be an increase in travel allowance in the new year 2024. Since travel allowance is linked with different pay bands, there will be a good jump in salary. In higher TPTA cities, the travel allowance for Grade 1 to 2 is Rs 1800 and Rs 1900, for Grade 3 to 8 it is Rs 3600 + DA, whereas for other places this rate is Rs 1800 + DA, so as DA increases. TA will also increase and salary will also increase. However, all this will be decided in March 2024, because the DA of January is announced till March, in such a situation, as the DA increases, the travel will also be increased according to the grade, although official confirmation is yet to be done.
Fitment factor may increase in 2024
According to media reports, before the Lok Sabha elections, the Modi government at the Center can also take a major decision on the fitment factor of employees. At present, under the 7th Pay Commission, the fitment factor of the employees is 2.57 percent and the basic salary is Rs. 18000. There is a possibility that considering the demand of the employees, it can be increased from 2.57 to 3.00 percent. If this happens then the basic salary will increase from Rs 18000 to Rs 21000, thus there will be different increase in the salary of different level employees. ,
For example, if the basic salary of a central employee is Rs 18,000, then excluding allowances his salary will be Rs 18,000 X 2.57 = Rs 46,260. With 3 times fitment factor, the salary will be Rs 21000 X 3 = Rs 63,000. Earlier, the government had increased the fitment factor in 2016 and the 7th pay commission was also implemented from the same year.
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