7th Pay Commission DA hike.
The 12-month common of the Consumer Price Index for Industrial Workers (CPI-IW) stood at 392.83; and as per this, DA is coming to 50.26 per cent of the essential pay
7th Pay Commission: Central authorities staff might quickly get a excellent news concerning their salaries, because the Centre is more likely to announce a 4 per cent hike in dearness allowance (DA) in March 2024, in response to media stories.
After the 4% DA hike, dearness allowance and dearness aid will improve to 50 per cent.
The quantum of hike in DA and dearness aid (DR) is determined by the central authorities on the idea of the All-India CPI-IW information.
The 12-month common of the Consumer Price Index for Industrial Workers (CPI-IW) stood at 392.83. As per this, DA is coming to 50.26 per cent of the essential pay.
DA is given to authorities staff, whereas DR is given to pensioners. DA and DR are hiked twice a 12 months — January and July.
In the final hike in October 2023, the DA was elevated by 4 per cent to 46 per cent. Given the present inflation price, the subsequent DA hike is anticipated to be 4 per cent.
According to the official information, there are 47.58 lakh central authorities staff and 69.76 lakh pensioners. After the upcoming DA hike, these staff and pensioners shall be benefitted.
Formula For central authorities staff:
Dearness Allowance per cent = ((Average of AICPI (Base Year 2001=100) for the previous 12 months -115.76)/115.76) *100
AICPI stands for All India Consumer Price Index.
Formula For public sector (central authorities) staff:
Dearness Allowance per cent = ((Average of AICPI (Base Year 2016=100) for the previous 3 months -126.33)/126.33) *100.
