7th Pay Commission: Central government employees are eagerly waiting for the announcement of Dearness Allowance (DA) in October 2024.
Although no official information has been given yet, it is expected that the government will announce a DA hike of 3% to 4% before Diwali. This hike will be considered effective from July 1, 2024, which will increase the salary of the employees. Also, the arrears of DA applicable from July will also come with the salary.
How much will the salary increase?
If an employee’s basic salary is ₹18,000 per month, then a 3% increase will increase his salary by ₹540 monthly. If DA increases by 4%, the salary will increase by ₹720 monthly. For example, if someone’s total salary is ₹30,000 and out of that ₹18,000 is basic pay, then according to the current 50% DA, he gets ₹9,000 as dearness allowance. After a 3% increase, it will become ₹9,540 and after a 4% increase, it will become ₹9,720.
DA and DR: What’s the difference?
DA is given to government employees while DR i.e. dearness relief is added to the pension of pensioners. Both are revised twice a year – in January and July. However, whenever the government announces it, it is considered applicable only from January and July. This time the increase in DA and DR will benefit more than one crore government employees and pensioners.
How is DA decided?
The increase in dearness allowance is announced on the basis of the All India Consumer Price Index (AICPI). The central government revises DA based on the average of the last 12 months, which is usually announced in March and September.
8th Pay Commission: Employees’ expectations increased
The recommendations of the 7th Pay Commission were implemented from January 2016 and now 10 years are about to be completed. Although there has been no official announcement of the 8th Pay Commission, employees are expecting its formation soon. According to reports, the 8th Pay Commission may increase the minimum salary to ₹ 34,560, while the pension may also increase to ₹ 17,280. The government has not yet taken any decision on the 8th Pay Commission, but employees are hoping that it will be announced soon.
Related Articles:-
Public holidays declared for 5 days in the first week of October. see list here
Income tax audit report deadline for FY24 extended to THIS date
