7th pay commission: DA may be hiked for Central employees by Holi; calculation of salary increment
7th pay commission update: The Central government employees who have been waiting for a dearness allowance (DA) hike may get a DA hike before Holi 2023. This good news has emerged from the newly released AICPI index. The Narendra Modi government might increase DA by 4 percent yet again. Holi is on March 8 this year.
The government increases the DA twice in a year. This DA hike is announced in the months of January and July. Now the new year has started and the Central government employees have been waiting for their dearness allowance hike.
The Central government, as per data, may increase the dearness allowance by 4 percent or 3 percent.
For this, the AICPI index needs to be raised by 0.4 points in November and December.
If the government increases DA by 4 percent, the dearness allowance will become 42 percent. In July 2022, the central government will increase DA by four percent.
After DA and DR increase, 48 lakh central government employees and 68 lakh pensioners will benefit, reported the Zee News Hindi website.
If the DA is increased to 42 percent, here’s how it will impact a level-3 employee’s salary.
Basic salary of the employee – Rs 56900New Dearness Allowance (42%) – Rs 23898/monthTill date dearness allowance (38%) – Rs 21622/monthHow much dearness allowance increased – 23898-21622 = Rs 2276/monthIncrease in annual salary – 2276X12= Rs 27312