PERSONAL FINANCE
Central Government employees anticipate a 4 percent increase in dearness allowance; states raise DA.
7th Pay Commission: In the latest news regarding the 7th Pay Commission, there is anticipation among Central Government employees for an increase in dearness allowance next month. It is projected that the central government may enhance the dearness allowance of employees by 4 percent. Conversely, during the last two months in the fiscal year 2023-24, several states have raised their DA.
Under the Seventh Pay Commission, there has been a salary increment for employees, resulting in augmented remuneration not only for government employees but also for pensioners. Dearness allowance is granted by adding it to the basic salary of employees. Let's explore a few states that have increased the dearness allowance for the fiscal year 2023-24.
The state of Karnataka has recently elevated the dearness allowance by 4 percent, which took effect from January 1, 2023. However, there might be another increase in DA in July from the Central Government. The Karnataka government has raised the DA for employees here from 31 percent to 35 percent, and the same increment has been applied to pensioners.
Moving on to Uttar Pradesh, during the month of May, the UP government decided to increase DA and DR by 4 percent. This increment benefits government employees and pensioners, resulting in 42 percent DA for employees and 42 percent DR for pensioners.
In Tamil Nadu, under the Seventh Pay Commission, the state government announced a 4 percent increase in DA, effective from April 1, 2023. This increase has raised the DA from 38 percent to 42 percent.
The Haryana government also announced a 4 percent increase in dearness allowance in April. Employees will receive their salaries calculated under the 7th Pay Commission, with the DA now standing at 42 percent since January 1, 2023.
Moreover, the Jharkhand government announced an 8 percent increase in DA in April, raising it from 34 percent to 42 percent. Similarly, the Himachal Pradesh government increased the dearness allowance by 3 percent, bringing it to 34 percent. Both of these increments have been effective since January 1, 2023.
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