7th Pay Commission latest news: Awaiting the second Dearness Allowance (DA) hike of the year, central government employees may be in for the bigger pay rise than earlier expected. While the earlier expected DA hike was 4 percent, this figure may go up due to the recent All-India Consumer Price Index for Industrial Workers or CPI(IW) data.
Currently, the DA stands at 34 percent and with the hike expected earlier, the figure would have reached 38 percent. But now, latest reports in the media claim that the rise will be higher at a reported 5 percent. This is based on AICPI (All-India Consumer Price Index) for April 2022.
This means that the relief that central government employees may get from inflation in the name of DA may rise higher in July. With the expected 4 percent hike, this amount was calculated in the range of Rs 8,000 to Rs 27,000 bases on basic salary.
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A hike of 5 percent will mean that the new DA rate would stand at 39 percent. This will come as a massive boost to the workforce under the Centre. The first DA revision of 2022 was announced by the government in March when the rate was increased from 31 percent to 34 percent with a 3 percent hike.
From 125.4 in December 2021, the AICPI had fallen to 125.1 in January 2022 followed by a slight to 125 in February. The number for March was 126. In April, the AICPI has increased to 127.7 in a significant jump. With the AICPI data for April, reports claim that the government may announce a 5 percent hike instead of the earlier expected 4 percent in July.
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