7th Pay Commission Latest News: Railway Board has increased the Dearness Allowance (DA) for its employees. This will come into effect from July 1, 2023. That means, from July, the basic salary has been increased from 42 percent to 46 percent.
7th Pay Commission Latest News: Railway Board has increased the Dearness Allowance (DA) for its employees. This will come into effect from July 1, 2023. That means, from July, the basic salary has been increased from 42 percent to 46 percent.
The board said, ‘The President is pleased to decide that the dearness allowance payable to railway employees will be increased from the existing rate of 42% of the basic pay to 46% with effect from July 1, 2023.’ The recommendations of the 7th CPC to increase the basic pay have been accepted by the government.
The board’s statement comes after the Union Cabinet approved a bonus package of about Rs 15,000 crore, which includes a 4 per cent increase in dearness allowance (DA) for government employees, just five days ago.
Shiv Gopal Mishra, general secretary of All India Railwaymen’s Federation, said, ‘The employees were to get DA from July, it was the right of the employees. However, I welcome the decision to announce its payment before Diwali.
Calculation of DA for Central Government Employees
DA % = [(Average of AICPI (base year 2001 = 100) for the last 12 months – 115.76)/115.76] x 100
Calculation of DA for Public Sector Employees
DA % = [(Average of AICPI (base year 2001 = 100) for last three months – 126.33)/126.33] x 100
Here, AICPI stands for All India Consumer Price Index.
It should be noted that private sector employees and pensioners are not eligible to receive DA as part of their salary.
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