DA Hike Update: Great news has come for the central government employees. Let us tell you, recently there was an increase of 4 percent in DA of central employees and pensioners.
And now the Reserve Bank of India (RBI) has already directed all the banks to work on March 31 despite it being a Sunday. Big news has come out that now the employees of the center will get the benefit of this increase (DA Hike) even before March 31. Let us know in detail in the news-
Central government employees are going to get increased salary and arrears on March 30 under the 7th Pay Commission. Due to March 31 being Sunday, Central employees will get benefits a day earlier. The Reserve Bank of India (RBI) has already directed all banks to work despite March 31 being a Sunday. This is because it is the last day of the financial year.
4 percent DA increase
The central government has already announced a 4 percent increase in DA (Dearness Allowance) for central employees. This increased DA will be effective from January 2024. Along with the salary for the month of April, the increased DA will be paid to the employees (pensioners) from the month of January onwards. Now the dearness allowance (DA hike) of central employees has increased to 50 percent.
DA HIke will be increased as per the approved formula based on the recommendations of the 7th Central Pay Commission. The release issued by the Consumer Price Index of Labor Bureau for industrial workers will be considered as the basis for calculating dearness allowance for employees and pensioners.
Along with dearness allowance, house rent allowance has also been increased. In which depending on the classification of the city, employees can get up to 30 percent HRA. After increasing DA, various special allowances for central employees increase. Like Child Care Allowance, Child Education Allowance, Hostel Subsidy, Traveling Allowance on Transfer, Dress Allowance, Gratuity Ceiling and Mileage Allowance.
The Cabinet had earlier increased DA for government employees and Dearness Relief (DR) for pensioners by four percent in October 2023. At that time dearness allowance had increased from 42 percent to 46 percent. Whose 48.67 lakh central government employees and 67.95 lakh pensioners were benefited.
