Mumbai, May 5: The Central Government is again getting ready to increase the DA in line with the 7th Pay Commission, causing much speculation among employees. Media reports suggest that there may be a DA Hike of about 3 to 4 percent under the 7th Pay Commission from July 1. This comes as the 7th Pay Commission mandates an increase in the dearness allowance twice a year, which comes in January and July, respectively. However, the government has yet to officially announce the hike in DA Hike. 7th Pay Commission: When Will Central Government Revise Fitment Factor For Its Employees? Check Latest News Update Here.
It must be noted that the Central Government has continuously increased the dearness allowance by 4 percent since it reached 31 percent. With three such increments, the DA of central employees and the Dearness Relief (DR) of pensioners have already gone to 42 percent. And now, it is speculated to soar up by another 4 percent. 7th Pay Commission Good News: Central Government Employees May Receive Big Gifts Soon, Hike in DA and Fitment Factor Likely in July 2023.
The dearness allowance is calculated based on the CPI-IW index, which is released every month by the Labor Bureau, a branch of the Ministry of Labour. It is decided whether the DA will increase or not. In 2023, there has been a decline in the figures of the All India Consumer Price Index (AICPI) during February, but it has shown an upward trend during March. This has fueled the speculation that the DA may increase soon. A new formula has also been introduced to calculate DA, adding to the uncertainty.
(The above story first appeared on Today News 24 on May 05, 2023 03:19 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website todaynews24.top).
