7th Pay Commission New Update : The inflation rate is still above the target set by the Reserve Bank of India (RBI). In such a situation, it is expected that a decision on DA Hike will be taken by the government soon.
7th Pay Commission Big News: Preparations are being made by the Central Government to give a big gift to the central employees very soon. According to sources, the government is soon going to announce to increase the Dearness Allowance (DA Hike) of the employees. The country’s retail inflation rate has come down to below 7 percent in July. However, it is still above the target set by the Reserve Bank of India (RBI). In such a situation, it is expected that a decision on DA Hike will be taken by the government soon.
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The change in dearness allowance happens every six months,
the last time the DA hike for January was decided by the government in March 2022. There is no update this time yet. Let us tell you that DA is a part of the salary of government employees only. In which changes are made by the government every six months. The DA for January was announced in March. No announcement has been made on DA for July yet.
Retail inflation fell to 6.71 percent.
In March, the government had increased the DA by 3 percent to 34 percent. Now again soon the increase in dearness allowance is going to be announced. In July, the retail inflation rate has come down to 6.71 percent. According to this, DA is expected to increase by 4 percent. In June, the inflation rate was at 7.01 percent, at that time the DA was expected to increase to 5 percent.
Let us tell you that DA hike is decided on the basis of AICPI index. The AICPI index for June was 129.2 points. Let us know how much will the salary change if there is an increase of 4 percent in DA?
Calculation on maximum basic salary
- Basic salary of employee Rs 56,900
- New dearness allowance (38%) Rs 21,622/month
- Dearness allowance so far (34%) Rs 19,346/month
- How much dearness allowance increased by 21,622-19,346 = Rs 2260/month
- Increase in annual salary 2260 X12 = Rs 27,120
Calculation on minimum basic salary
- Basic salary of employee Rs 18,000
- New dearness allowance (38%) Rs 6840/month
- Dearness allowance so far (34%) Rs 6120/month
- How much dearness allowance increased 6840-6120 = Rs.1080 /month
- Increase in annual salary 720X12= Rs.8640
