look news india
7th Pay Commission latest news today: Next time coming with good news for central employees. A decision will be taken soon on dearness allowance and dearness relief for employees and pensioners. The next change is scheduled for July 2024. If experts are to be believed, it may also increase by 4 percent. But it will be announced by the month of September. Labor Bureau has AICPI index data till March. However, the figures for February and March have not been released yet. After that the figures for April, May and June are also going to come. This can increase DA score. At present, based on statistics, dearness allowance is 51 percent. But the final number will be decided only after July. Experts are currently watching the trend of inflation and are claiming that dearness allowance will increase by 4 percent.
4% increase in DA fixed,
The new dearness allowance will be effective from July 1, 2024. It may take time till September for its announcement. Then it will be added to the salary. At present DA distance will be paid along with arrears. At present, central employees get 50 percent dearness allowance. Looking at the trend of the index, an increase of 4 percent is certain. With this, the total dearness allowance of central employees will increase to 54 percent. However, it cannot be denied that dearness allowance can be reduced to zero. Whatever be the case, dearness allowance will increase by 4 percent. Dearness allowance of central employees is linked to AICPI index. The data of 6 months will decide how much the dearness allowance will increase.
Announcement may be made in September
Dearness allowance is increased twice a year. It is implemented from January and July. But it is announced in the months of March and September. The increased dearness allowance for January 2024 was announced in March. Dearness allowance was increased to 50 percent. Now the increase in dearness allowance for July 2024 can be announced in September. There is a possibility of 4 percent increase in dearness allowance. As of January the index is seen at 138.9. Based on that, the score of dearness allowance has reached 50.84 percent. Which will be considered as 51 percent. The next number of AICPI index will be declared on the evening of 31 May. It is possible that this time the Labor Bureau will release the figures of three months together.
expert's claim
Experts who calculate inflation allowance claim that a 4% DA hike will be approved for July 2024. Although the data of All India Consumer Price Index-IW is not available, the trend of inflation is pointing in the same direction. It is clear that dearness allowance can increase by up to 4 percent. The final number of the index will come by July 31. This will confirm the total increase in dearness allowance.
How to know how much it will increase
Dearness allowance of central employees depends on the All India Consumer Price Index. If this figure increases continuously then dearness allowance also increases accordingly. Consumer inflation figures for the three months of the first quarter of this year are out. Looking at this trend, it seems that in the coming days dearness allowance will increase at the rate of 4 percent. But the remaining numbers of the index still have to be seen.
Allowance will be decided by this formula
The Labor Ministry has changed the calculation formula regarding dearness allowance. The Labor Ministry has changed the base year of dearness allowance. A new series of WRI-Wage Rate Index was released. In which Labor Ministry released new series of WRI with base year 2016=100. It was introduced in place of the old series of base year 1963–65.
