DA Hike: Bumper news for govt employees, 4 percent dearness allowance hike
Reported says that Next March, there is a possibility of an increase of 4 percent dearness allowance to Central Government Employees.
Narendra Modi government has given bumper news to central government employees. Reported says that Next March, there is a possibility of an increase of 4 percent dearness allowance to Central Government Employees. After 4% increase in dearness allowance, and dearness compensation will be an increase of 50 percent. DA Hike: Bumper news for govt employees, 4 percent dearness allowance hike.
The Consumer Price Index for Industrial Workers (CPI-IW) has a 12-month average of 392.83. According to an ET report, DA is coming at 50.26% of the basic salary. The central government decides the rate of increase in DA and Dearness Relief (DR) based on the All India CPI-IW data.
While government employees are given DA, pensioners are given DR. DA and DR are hiked twice a year – in January and July. In the last hike in October 2023, DA was hiked by 4 per cent and the cess compensation was raised to 46 per cent. Given the current inflation rate, the next DA hike is expected to be 4 percent.
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According to official figures, there are 47.58 lakh central government employees and 69.76 lakh pensioners. After the upcoming DA hike, these employees and pensioners will benefit.
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How to calculate dearness allowance for central government employees?
dearness allowance average = ((average of AICPI (base year 2001=100) last 12 months -115.76)/115.76) 100
AICPI stands for All India Consumer Price Index.
Formula for Public Sector (Central Government) Employees:
dearness allowance average = ((AICPI average (base year 2016=100) last 3 months -126.33)/126.33) 100.
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