Central Employee DA Hike: Like 2023, the new year 2024 is also going to bring many gifts for central employees and pensioners. According to media reports, there may be a 4 percent increase in Dearness Allowance (DA) of employees and Dearness Relief (DR) of pensioners in the new year, which may lead to a bumper increase in salary and pension.
According to the estimates released by the Labor Ministry, AICPI data has been released for the period from July to October. The data of November and December is yet to come, only after which it will be clear how much DA will increase in the new year. It is believed that the government may announce increase in DA in the budget.
Salaries of government employees will increase in the new year
Central employees get the benefit of 46% DA. This has been implemented from July to December 2023. The next hike in DA will be in January 2024, expected to be announced around Holi. The DA and DR rates of employees-pensioners are revised in January and July based on the half yearly data of AICPI index. A total of 8% DA has been increased in 2023 including January and July and now the next DA will be revised in the year 2024, which will depend on the AICPI index data from July to December 2023.
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DA may reach 50 percent in the new year
In fact, on November 30, the Labor Ministry has released the October figures of AICPI index, in which after an increase of 0.9 points, the number has reached 138.4 and the DA score has reached close to 49%. It is believed that DA may increase by 4% or 5% in the new year. However, the figures for November and December are yet to come, after which it will be decided how much DA will increase in 2024?
If the DA score becomes 50% or more after the increase in November and December figures, then after increasing by 4% the DA will become 50%. In such a situation, the salary of the employees will be revised. Under the 7th Pay Commission brought by the Central Government, when DA reaches 50 percent, DA will be added to the basic salary. Then the calculation of DA will start from zero.
Announcement may be made in the budget
The next rates of DA may be announced at the time of budget or in the month of February-March, because the dates of Lok Sabha elections are expected to be announced between April and May next year, during which the code of conduct will also come into force. After this the central government will not be able to increase DA.
In such a situation, it is believed that Modi government can take a decision on DA during the budget session itself to woo the central employees. If DA is increased by 4% more, it will become 50%, its benefit will be available to more than 48 lakh central employees and 68 lakh pensioners.
