Dearness allowance is revised twice a yr — January and July. (Representative)
The final revision in DA was performed in March 2023 by 4 per cent, which turned efficient from January 1, 2023
7th Pay Commission: After the central authorities elevated the dearness allowance by 4 per cent within the earlier hike in March 2023, the Centre is once more more likely to hike DA by 3-4 per cent efficient July 1, in keeping with media stories. The DA, which is offered to staff and pensioners to compensate them for rising costs, is revised twice a yr — January and July.
The final revision in DA was performed in March elevating it by 4 per cent, which turned efficient from January 1, 2023. After the 4 per cent hike, the DA of central authorities staff elevated to 42 per cent. Before this, the DA was hiked in September 2022 by 4 per cent, which turned efficient from July 2022.
Now, for the 7th Pay Commission staff, the DA is predicted to hike by one other 3-4 per cent, to be efficient from July, in keeping with the stories. Currently, as per the newest knowledge, there are 47.58 lakh central authorities staff and 69.76 lakh pensioners.
Dearness allowance (DA) is given to authorities staff, whereas dearness aid (DR) is for pensioners. The DA is given to staff primarily based on the fundamental pay of the staff, whereas the DR is given on the premise of a fundamental pension.
How DA Hike Is Calculated?
The central authorities revises the DA and DR for workers primarily based on a components. Following is the components:
Dearness Allowance Percentage = ((Average of All-India Consumer Price Index (Base Year 2001=100) for the previous 12 months -115.76)/115.76)x100.
For Central public sector staff: Dearness Allowance Percentage = ((Average of All-India Consumer Price Index (Base Year 2001=100) for the previous 3 months -126.33)/126.33)x100.
Last week, the Jharkhand authorities elevated the dearness allowance for its staff to 42 per cent from 34 per cent. The determination to hike the DA charge was taken within the state cupboard assembly, chaired by Chief Minister Hemant Soren.
Last month, the Himachal Pradesh authorities hiked the dearness allowance (DA) by 3 per cent for state staff and pensioners. They will now obtain a 34 per cent DA, in opposition to 31 per cent earlier.
Read all of the Latest Business News, Tax News and Stock Market Updates right here
