7th Pay Commission: If you are a central government employee or there is a central employee in your family, then this news is of use to you. Yes, these days the central employees are eagerly waiting for DA Hike before the festive season.
Associate website Zee Business has claimed quoting sources that the central employees are going to get big good news soon. It has been claimed in the news that a special cabinet meeting of the government is going to be held on 3 October 2024. During this, a decision can be taken regarding the dearness allowance of the employees. Lakhs of employees and pensioners are waiting for this decision.
Decision on DA hike soon!
Apart from this, many media reports are claiming that the government can take a decision regarding DA hike in the first week of October. However, no official details have been released by the government regarding the DA hike yet. Usually every time the government takes a decision on DA around Diwali. It is expected that this time the government can increase DA by 3 to 4 percent. In the year 2023, the government had taken a decision on DA in the first week of October.
Will be implemented from July 1, 2024
If the dearness allowance (DA) of central employees is increased by 3% in the cabinet meeting, then it will increase from the current 50% to 53%. But if this increase is 4 percent, then it will increase to 54 percent. The increased DA will be implemented by the government on July 1, 2024. Apart from this, employees will also be paid three months’ arrears. DA hike helps employees to deal with rising inflation.
How is dearness allowance decided?
Dearness allowance for central government employees is decided on the basis of All India Consumer Price Index (AICPI). This index tells how expensive things have become in general. When AICPI increases, the dearness allowance of government employees is increased. Dearness allowance is very important for lakhs of central government employees because it is a major part of their income.
How much will be the increase
If the basic salary of an employee is currently Rs 18000 and this time there is a three percent increase in DA, then there will be an increase of Rs 540 every month. If we talk about annual, then it is Rs 6480 per year. But if there is a 4 percent increase on the basic salary of 18000, then there will be an increase of Rs 720 every month. Annually it is Rs 7440.
Related Articles:-
SBI’s SBI Amrit Kalash & Amrit Vrishti Yojana has been extended to 31 March 2025
SEBI changed the rules for nomination in mutual funds and demat accounts
PPF New Rule : Finance Ministry has issued a new guideline regarding PPF account, know the new rule
