DA hike news: Central government employees who are waiting for dearness allowance (DA) will soon get the good news. Under the 7th Pay Commission, the salary and DA of employees are increased twice a year -- in January and July -- with announcements usually made in early March and October.
But this year, the Centre is likely to announce the DA hike in September. According to media reports, based on the AICPI IW index data from January to June 2024, it has been decided that employees will get DA with a 3 per cent increase from July 2024, which is after the increase of 1.5 points in the June AICPI index. After the 3 per cent hike, the dearness allowance will become 53 per cent.
When will the DA hike be announced?
Reports suggest the DA hike will be announced in the cabinet meeting on September 25. The salary of the employee getting a monthly salary of Rs 50,000 will increase by Rs 1500. If announced in September, the central government employees and pensioners will get the increase DA in the salary/pension of October 2024. Hene, the 3-month arrears, i.e. July to September, will be credited to the employee’s account in October.
Earlier in January 2024, the central government had increased the dearness allowance of central employees by 4 per cent. Therefore, the DA allowance was increased to 50 per cent.
READ | RBI slaps Rs 10000000 penalty on India's largest bank for...
