7th Pay Commission Latest News Today: Centre To Announce 3% DA Hike After Release of AICPI Index on February 28? Here’s How Much Raise Is Expected
Mumbai, February 24: Central government employees under 7th pay commission might receive good news on or before Holi regrading DA hike, Fitment Factor raise among others. The Narendra Modi-led government is expected to take a decision on dearness allowance hike in the coming days. Every year, Centre hikes DA twice – first in January and then in July.
Last year, the Central government hiked DA in March and then later in September. At present, government employees under 7th CPC are receiving 38 percent DA hike. However, this is likely to increase in the coming month. According to a report in Zee News, the AICPI data will clear rumours about the pending DA hike. 7th Pay Commission Latest News: Maharashtra Deputy CM Devendra Fadnavis Orders 7th CPC for Non-Teaching Staff.
The Labor Ministry is likely to release the All India Consumer Price Index (AICPI) numbers on February 28, which will clear doubts related to the next dearness allowance hike. The Centre uses AICPI index to determine the daily stipend of its employees. It must be noted that the Labour Ministry releases AICPI index on the last working day of each month.
The AICPI figure for December 2022 was 132.3. As per various media reports, the DA of central government employees is likely to rise by 3 to 5 percent if the AICPI index rises for January and February. If the basic salary of an employee is Rs 18,000 then DA hike of 3 percent will be Rs 7,380/month. Presently, employees with basic salary of Rs 18,000 are receiving DA of Rs 6,840 per month. 7th Pay Commission to Be Replaced by 8th Pay Commission Soon? Massive Salary Hike Likely For Central Government Employees, Check Details.
If approved, the 3 percent DA hike will raise the salary by Rs 900 per month. Similarly, employees with basic salary of Rs 56,900 will get a raise of Rs 1,707 per month if DA is raised to 41 percent from 38 percent. Meanwhile, reports also suggest that the Centre could replace 7th pay commission with a new pay commission which will be the 8th CPC.
(The above story first appeared on Today News 24 on Feb 24, 2023 02:53 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website todaynews24.top).
