7th Pay Commission: Central Government Likely to Hike DA by 4%, Check How Much Dearness Allowance Employees Will Get
Delhi, February 16: Central government employees are likely to get some good news after Holi 2023. The government is likely to raise the dearness allowance for more than one crore employees and pensioners by another 4%. This would take DA to 42% from the current 38% on 7th pay commission recommendations. It is expected that it can be approved in the Union cabinet meeting in the first week of March, according to DNAIndia.
The Labour Ministry revises DA in view of the inflation of many important things in the AICPI (All India Consumer Price Index) index. Currently, the Dearness Allowance of the central government employees is 38%. According to reports, dearness allowance may increase by 4% in March 2023. This means DA will increase from 38% to 42% on 7th pay commission recommendations. The increased DA for central employees from January 2023 can be paid in the salary of March. 7th Pay Commission: Government Likely to Make Major Announcements on DA Hike, Fitment Factor and Pending Arrears After Holi 2023, Check Latest News Updates Here.
After the 4% dearness allowance increase, the total DA will be 42%. Now the total annual dearness allowance on the basic salary of Rs 18,000 will be Rs 90,720 yearly. There will be an increase of Rs 720 every month. Currently, at 38%, employees get Rs 6,840 dearness allowance monthly. After the hike, the employees will get Rs 7,560 per month. 7th Pay Commission: Will Centre Announce 4% DA Hike Ahead of Holi 2023? Check Latest News Update Here.
For instance, the basic salary under level 1 of the 1800 grade pay scale for employees, is Rs 18,000 per month.
With DA at 42%, the dearness allowance would come at Rs 7,560 on the mentioned salary (42% of 18,000 pm).
At 38%, the dearness allowance comes around to Rs 6,840 (38% of Rs 18,000 pm). This would be an increase of Rs 720 in dearness allowance at 42%.
The government revises the DA/DR rate every six months on the recommendations of 7th pay commission. This is done to compensate for the loss in purchasing power of the monthly salary/pension wealth due to inflation.
(The above story first appeared on Today News 24 on Feb 16, 2023 02:54 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website todaynews24.top).
