look news india
Millions of central employees and pensioners are going to get a great news soon. Their dearness allowance-DA is expected to increase, which can increase their salary significantly. It is expected that it may increase by 4% in the next DA revision. If this happens, the current 50% DA will increase to 54%, which will prove to be a major financial relief for the employees.
This potential growth is based on data from the All India Consumer Price Index (AICPI), which is a measure of the rate of inflation. Especially, the AICPI figures of April 2024 have further emphasized the expectations of DA hike. The April figure has reached 134.00 points, which is important for Calculation of DA.
How is DA calculated?
DA is calculated every six months and is applied twice a year, 1 January and 1 July. The AICPI data from December to June is noted for DA to grow from July. The figures from December to March had already arrived and now the figure of April has also been released. Although the figures of May and June are yet to come, initial trends seem to have almost certain to increase in DA by at least 4%. This figure is a great sign for those who are government employees or pensioners.
This increase will be under the recommendations of the Seventh Pay Commission. This will not only increase the DA, but at the same time the house rent allowance (HRA) and other allowances will also have a positive effect, as many allowances are links with DA. The wait of the employees may end soon, as the government usually announces this increase before July, so that the rates increased from July 1 can be implemented. This increase will definitely bring financial relief in the lives of employees and pensioners, especially in this era of rising inflation.