Seventh Pay Commission DA Hike News: Central government representatives may before long get an uplifting news with respect to the much-anticipated hike in dearness allowance, which will ultimately prompt an expansion in their compensations. The report on 4% hike in DA is normal at any point in the near future since the expansion in stipend is reconsidered two times every year – – January and July.
The estimated ascend in the DA was likewise demonstrated in the All-India Consumer Price Index (Industrial Worker) information for the long stretch of May. AICPI is the essential boundary based on which the DA is reconsidered by the central government.
Presently, as the AICPI is winning high over the RBI’s resistance level, the possibilities of government workers receiving a pay increase in dearness allowance is likewise high. The retail expansion in June remained at 7.01 percent, which is over the RBI’s objective degree of 2-6 percent.
Reports propose that the dearness allowance might be expanded by 4%, which will take the general DA to 38 percent. In March this year, the Union Cabinet had supported a DA hike of 3% under the seventh Central Pay Commission, taking the general DA to 34 percent of the essential pay. More than 50 lakh government representatives and 65 lakh retired people are being profited from this move.
Forthcoming DA and DR arrears
Reports additionally recommend that the central government may likewise determine the issue of forthcoming DA back payments, following which the focal government workers will get Rs 2 lakh in forthcoming unpaid debts in one go.
The Center had kept down three installments of DA and DR for January 1, 2020; July 1, 2020; and January 1, 2021, considering what is happening which emerged because of the COVID-19 pandemic. In an answer to a question in the Rajya Sabha in August 2021, Finance Minister Nirmala Sitharaman said the keeping down of DA and DR saved about Rs 34,402 crore.
It is likewise revealed that beneficiaries have composed a letter to Prime Minister Narendra Modi, encouraging his mediation on the issue of DA unpaid debts forthcoming for a very long time. According to media reports, the focal government might resolve the issue in the period of August.
How is DA calculated?
The equation to ascertain the DA and DR for central government representatives and beneficiaries was reconsidered by the focal government in 2006.
Dearness Allowance Percentage = ((Average of All-India Consumer Price Index (Base Year 2001=100) for the beyond a year – 115.76)/115.76)x100.
For Central public area representatives: Dearness Allowance Percentage = ((Average of All-India Consumer Price Index (Base Year 2001=100) for the beyond 90 days – 126.33)/126.33)x100.
