7th Pay Commission DA Hike: In July 2023, dearness allowance (DA) to increase by 4 percent is almost certain. This is confirmed by the trend of the last 5 months. According to the price index ratio, the index has increased by 0.65 points every month. According to the May index, 45.58 percent score has already been reached.
7th Pay Commission DA Hike: The coming month can be full of happiness for central employees. Now only 10 days are left. After this, it will be clear that how much will be the dearness allowance for central employees, which will increase from July. The numbers of how much dearness allowance is going to increase will come on July 31. The final numbers for this half of the AICPI index will be released soon. Means, in June 2023, it will be known how much the index was. Based on this, it will be known through the calculation that how much dearness allowance has to be increased. However, it is clear from the numbers that have come so far that dearness allowance is to be increased by 4 percent. But, the June numbers will make it more clear. After this, the central government will formally announce it for its employees. However, this announcement will not happen immediately. Will have to wait till September for this.
New DA Hike will be applicable from 1st July
At present, the central government employees are getting 42 per cent dearness allowance. But, it will be revised from 1 July 2023. The revision will be applicable from July 1 only. But, for this, the government can announce by September or October. So far, from the AICPI figures that have come for this half year, it is clear that a 4 percent increase in DA Hike can be seen. This increase will be applicable to those employees who are getting salary under the 7th Pay Commission.
How is Dearness Allowance determined by the AICPI index?
The revision of dearness allowance depends on the AICPI index. The kind of changes that take place in the index, in the same way changes are also seen in the DA Hike. Inflation figures for industrial workers are released by the Labor Ministry. It is prepared by taking inputs from many places. So far the figures have come from January 2023 to May 2023.
What is the index score indicating?
According to the data of AICPI index of May 2023, dearness allowance has reached 45.58 percent. The index is at 134.7 points. There was an increase of 0.50 points in this. But, the figures for June are yet to come. Even if the index does not increase in June or there is a slight increase in the index, even then from July 2023, central government employees will get 46 percent dearness allowance. Actually, dearness allowance is paid in round figures. Had the index number been 45.50, the dearness allowance would have increased by 45 per cent. But, the index has reached 45.58 per cent in May itself. It is confirmed that the dearness allowance will increase by at least 4 percent.
Wait for 31st july
The AICPI index numbers for June 2023 will come on the evening of 31 July. These will be the last numbers for this half year. The numbers of the AICPI index from January to June decide how much the dearness allowance will increase in July. Dearness allowance is increased twice a year. The dearness allowance applicable from January is decided on the basis of numbers from July to December.
Confirmed 46% DA Hike
According to the 7th Pay Commission, dearness allowance (DA) is set to increase by 4 percent in July 2023. This is confirmed by the trend of the last 5 months. According to the price index ratio, the index has increased by 0.65 points every month. If we look at this trend, then the number which was 43.08 percent in January can increase to 46.39 percent. However, even if it does not increase that much, according to the May index, the score has already reached 45.58 percent. It is clear from this that DA Hike will increase by 4 percent.
