Seventh Pay Commission: The subsequent Dearness Allowance (DA) correction of the year for central government workers is probably going to be declared one week from now. While prior reports had recommended that the DA hike will be declared by July 31 (today), it is presently expected that the declaration could be made around August 3 according to most recent reports.
According to most recent reports and signs from the All-India Consumer Price Index (AICPI) numbers, a 4 percent DA hike is logical this time. A bigger number of 5 or 6 percent has likewise been hypothesized before yet the figure is probably going to be at the 4-percent mark. The focal government workers had before gotten a 3 percent DA climb prior in the year, taking the all out figure to 34 percent from prior 31%.
DA hikes were frozen for quite some time in the midst of the Covid-19 pandemic. Nonetheless, the public authority gave a one-time increment of 11% when it was restarted, taking the figure to 28 percent. A 3 percent hike took the figure to 31 percent in October 2021, and it currently remains at 34%. With the most recent hike expected to be 4%, this figure will arrive at 38% for central government workers.
With the All-India Consumer Price Index (AICPI) on the ascent since February this year, the numbers for May saw a significant leap of 1.3 focuses taking AICPI to 129, prompting hypothesis around a 6 percent hike if the pattern went on in June. Nonetheless, the June numbers saw a 0.2 percent increment, taking AICPI to 129.2. This figure is viewed as an affirmation of a 4 percent hike by investigators.
How much increment is normal in the compensation of central government workers?
A 4 percent hike in DA will bring a hike of Rs 8,640 every year for an essential compensation of Rs 18,000 and Rs 27,312 more each year for a fundamental compensation of Rs 56,000.
At present, central government workers with a fundamental compensation of Rs 18,000 get Rs 6120 every month DA according to 34 percent figure. This sum is probably going to increment to Rs 6,840 every month, converting into a month to month DA increment of Rs 720 and Rs 8,640 every year.
For central government representatives with an essential compensation of Rs 56,000, the DA as of now gotten is Rs 19,346 month to month which will increment by Rs 2,276 every month to Rs 21,622 with the normal DA hike. This will convert into a yearly increment of Rs 27,312.
