The AICPI index data from January to July has been released by the department, due to which the DA score is crossing 45%, in which case a 3% increase in DA is considered fixed.
Central Employee Salary Hike 2023: There is good news for central employees and pensioners. After Rakshabandhan, central employees pensioners can get the next dearness allowance gift. It is reported that after the figures of the AICPI index, the Modi government at the center may soon announce a 3% increase in dearness allowance for central employees and dearness relief for pensioners.
The new rates will be applicable from July as the previous DA was implemented from January to June 2023, now to be implemented for the next half year, though official confirmation is yet to be done.
3% DA hike proposal may come in cabinet soon
Actually, the DA of employee pensioners is increased twice a year by the Central Government, which depends on the data of AICPI index released by the Ministry of Labour. The AICPI index data from January to July has been released by the department, due to which the DA score is crossing 45%, in which case a 3% increase in DA is considered fixed . According to the latest media reports,
soon the proposal for increase in DA will be prepared by the Expenditure Department of the Union Finance Ministry and will be placed in the cabinet meeting chaired by Prime Minister Modi for final approval and after getting approval from here, orders will be issued by the Ministry of Finance. Will go
45 percent DA benefit fixed
At present the central employees and pensioners are getting the benefit of 42 per cent DA and DR, which will go up to 45 per cent after the 3 per cent increase. This will be the second hike of the year. It is expected that a 3 percent increase in DA may be announced in September, since it will be implemented from 1 July 2023, in which case an arrear of 2 months will also be available.
If the basic salary of an employee is Rs 18,000, then according to 45% DA, the salary will increase by about Rs 10,000, if there is an increase in HR, then there are signs of a bumper increase in salary. This will benefit about 47.58 lakh employees and about 69.76 lakh pensioners.
How is dearness allowance calculated?
Last time a new series of base year and wage rate index was issued by the Labor Ministry in the dearness allowance formula. Under this calculation of dearness allowance, the amount of dearness allowance is calculated on the basis of multiplying the current rate of DA and basic salary. Suppose your basic salary is Rs 29 thousand and DA is 42%, then your DA formula will be (42 x 29200) / 100. Similarly, dearness relief is also calculated for pensioners.
Income Tax Return : Big update for ITR filers, you will be shocked to know this figure
