Let us tell you that the Central Government revises the DA/DR rates of employees-pensioners twice a year in January and July, which depends on the half yearly data of AICPI index.
Central Employee DA/Fitment Factor Hike 2024: Like 2023, the new year is also going to be full of happiness for central employees and pensioners. Before the Lok Sabha elections, the Modi government at the Center can give two big gifts to the central employees, this includes increase in dearness allowance and fitment factor.
If both these decisions are approved, there will be a big jump in the salaries of central employees, although official confirmation is yet to be given as to how much and when both will increase.
Dearness allowance may increase by 3 to 4% in the new year
Actually, the Central Government revises the DA/DR rates of employees-pensioners twice a year in January and July, which depends on the half yearly data of AICPI index. Both the rates have been announced for 2023 and now the next DA will be revised in the year 2024, which will depend on the AICPI index data from July to December 2023.
From the AICPI index data till September, it is being speculated that in the new year DA may exceed 50% or more. Even though the AICPI declined by 1.7 points to 137.5 in September, the DA score has reached 48.54 percent and now the numbers for the next October month will be released between 28th and 30th November.
After this, November and December issues will be released. If the DA score increases to 50 percent by December, then there will be another 4% increase in DA. However, in such a situation, the salary of the employees will be revised because the Central Government had decided the rules for revision of DA with the formation of the 7th Pay Commission.
That DA will become zero when it reaches 50%, 50% DA will be given by adding it to the existing basic salary and the calculation of DA will start from zero, in such a situation, there seems to be a possibility of implementation of the new pay commission.
The Central Government has increased DA by 4 percent each by 8 percent in 2023 and there is a possibility that DA may increase again by 4 percent in the new year, apart from this, HRA and TA are also expected to increase. However, official confirmation is yet to be made.
Fitment factor may increase in 2024
- According to media reports, before the Lok Sabha elections, the Modi government at the Center can also take a major decision on the fitment factor of employees. At present, under the 7th Pay Commission, the fitment factor of the employees is 2.57 percent and the basic salary is Rs. 18000 and the employees have been demanding for a long time to increase it to 3.86 percent.
- There is a possibility that the Modi government may fulfill this demand to accommodate the employees due to the Lok Sabha elections. It can be increased from 2.57 to 3.00 or 3.68 percent. If this happens then the basic salary will increase from Rs 18000 to Rs 21000 or Rs 26000, thus there will be different increase in the salary of different level employees. ,
- For example, if the basic salary of a central employee is Rs 18,000, then excluding allowances his salary will be Rs 18,000 X 2.57 = Rs 46,260. With 3 times fitment factor, the salary will be Rs 21000 X 3 = Rs 63,000. Earlier, the government had increased the fitment factor in 2016 and the 7th pay commission was also implemented from the same year.
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