7th Pay Commission DA hike.
After the 4 per cent enhance, dearness allowance and dearness reduction will enhance to 50 per cent
In a bonanza for central authorities staff, the Union authorities is more likely to announce a 4 per cent DA hike in March, in accordance with an ET report. After the 4 per cent enhance, dearness allowance and dearness reduction will enhance to 50 per cent.
The 12-month common of the Consumer Price Index for Industrial Workers (CPI-IW) stood at 392.83. According to the ET report, DA is coming to 50.26 per cent of the fundamental pay.
The quantum of hike in DA and dearness reduction (DR) is determined by the central authorities on the idea of the All-India CPI-IW information. DA is given to authorities staff, whereas DR is given to pensioners. DA and DR are hiked twice a yr — 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 predicted 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 might 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
