7th Pay Commission DA Hike: A big update has come out for the employees. Before Holi, the government had increased the dearness allowance of employees by four percent. Which has increased from 46 percent to 50 percent.
But if dearness allowance is 50 percent, it will now start from zero. In such a situation, the question remains in the minds of the employees that how much will DA increase after it becomes zero. Let us know in the news below-
The dearness allowance hike of central employees is 50 percent. This is applicable from January 2024. The next update will be applicable from July 2024. This approval will be received by September 2024. But, for this it is necessary that the AICPI index numbers be between January and June 2024.
These numbers will decide how much the dearness allowance of central employees will increase. Where will the calculations start? Will the dearness allowance (DA hike) which was zero (0) after 50 percent actually change or will the calculation continue beyond 50.
All these questions will definitely be in the minds of central government employees. But, their answer will have to wait till July 31, 2024. Because, the number coming on July 31 will decide how much the next DA Hike will increase. Let us understand how.
Dearness allowance is decided from AICPI numbers
Dearness allowance for central employees is decided by AICPI index i.e. CPI(IW). The Labor Bureau issues it on the last working day of every month. However, this data is delayed by one month. For example, the data for January comes at the end of February. The index numbers decide how much the dearness allowance will increase.
A formula has been given for determining dearness allowance. For central government employees, this formula is [(Average of All India Consumer Price Index (AICPI) of last 12 months – 115.76)/115.76]×100 In this the bureau collects data on many items. On the basis of this the index number is decided.
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