7th Pay Commission: Second DA hike of 2023 may match year's earlier hike for central government employees; details here
According to the most latest reports, the second DA increase in 2023 is probably going to reflect the amount declared in the first half of 2023.
The national government is likely to announce a DA increase for its workers between Navratri and Diwali, according to several reports. The DA hike will take effect on July 1, 2023, once announced. Although prior forecasts predicted a 3% DA increase, the amount could go up.
A 4% increase is anticipated for central government employees under the formula used to calculate DA using the most recent Consumer Price Index for Industrial Workers (CPI-IW), according to an ET report. The dearness allowance will reach 46% after this increase.
Government workers receive DA, whilst retirees receive DR. In January and July of each year, DA and DR are raised. Over one crore pensioners and employees of the central government currently receive a 42% dearness payment.
The DA was raised by 4% to 42% in the most recent increment in March 2023. According to a number of reports, the next DA increase will likely be 4% given the current inflation rate.
7th pay commission: How much salary will be hiked after a 4% DA rise?For instance, consider an employee who gets a Rs 40,000 salary monthly. At the current rate of 42% the employee is eligible for Rs 16,800 DA. Now if the DA is hiked by 4% i.e., 46% then the employees will receive Rs 18,400.