Mumbai, September 22: Central government employees eagerly awaiting an update about the dearness allowance hike might receive some good news soon. As per reports, government employees could receive a DA hike as a Diwali gift. Several reports suggest that the dearness allowance hike, which has been pending before the Narendra Modi government, could be announced before the festival of Diwali 2023.
It must be noted that every year, the Central government revises the Dearness Allowance (DA) hike twice. The first hike takes place in March, and the second hike nearly six months later in September. This year, the Central government employees received the first DA hike in March when the Modi government hiked the dearness allowance from 38 percent to 42 percent. 7th Pay Commission DA Hike News Update: Centre May Increase Dearness Allowance of Central Govt Employees in September, Say Reports.
At present, government employees are receiving a 42 percent DA hike. Reports suggest that there could be a 3 percent increase if the DA is raised. If the DA is hiked by 3 percent, then the Dearness Allowance of government employees will increase to 45 percent, thus giving a significant salary hike to the employees.
How Much Salary Will Increase With a 3% DA Raise?
The Central government revised the DA of its employees based on the Consumer Price Index for Industrial Workers (CPI-IW) data. The CPI-IW index in July 2023 saw an increase of 3.3 points to 139.7, thus marking a 0.90 percent rise from the same period the previous year. If the Modi government hikes dearness allowance before Diwali, it will benefit employees and pensioners alike. 7th Pay Commission News: Doctors in Madhya Pradesh To Get Salary Under Seventh Pay Slabs With Effect From 2016, Says CM Shivraj Singh Chouhan.
If the DA is hiked by 3 per cent, then the Central government employees' dearness allowance will stand at 45 percent. If an employee receives a basic pay of Rs 18,000, then the DA as per 42 percent amounts to Rs 7,560. With the increase of 3 percent in DA, the dearness allowance of the employee would become Rs 8,100, thus resulting in a direct salary increase of Rs 540.
(The above story first appeared on LatestLY on Sep 22, 2023 08:23 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).