PERSONAL FINANCE
Dearness allowance for central government employees currently stands at 34% after the latest January hike.
7th Pay Commission latest news: Good fortune is on the doorstep of central government employees with a hike in Dearness Allowance likely in July. Reports suggest that this hike could make the purses of central government employees fatter by Rs 40,000.
How DA hike may reach 6%?
As per the All-India Consumer Price Index (AICPI) data so far this year, it looks like central employees will likely get a significant DA hike of 5%. This number is up by a percentage from the earlier expected 4% hike. However, if the AICPI data for May remains on upward trend, this number may well increase to 6%, as per a Zee News Hindi report.
With the expected 5% hike, DA which currently stands at 34% after the 3% hike in January this year, will reach 39%. If this becomes 6%, it will be a tremendous boost amid the rising inflation in India and globally. Such a hike would mean an increase of up to Rs 3,400 per month or a little over Rs 40,000 annually on the basis of the basic salary of employees.
When is the announcement expected?
The DA hike comes for central government employees twice a year, first in January and then in July. The announcement usually comes around March and September. The DA hike for central employees was halted by the Finance Ministry amid the pandemic for a year and a half between January of 2020 and June 2021.
It was then initiated in July 2021 when employees saw their DA hiked from earlier 17% to 28%. The next hike in October took DA to 31% followed by the January hike, after which it now stands at 34%
READ | 7th Pay Commission: Major hike in basic salary of government employees likely, details here
Raima Sen mourns Bharat Dev Varma's demise, pens emotional note for 'great father, great husband'
DNA TV Show: Ahead of Maharashtra poll results, MVA, Mahayuti engage in resort politics
Maharashtra: Stage set for assembly poll results; Mahayuti, MVA confident of their victories
All set for vote counting in Jharkhand tomorrow; NDA, JMM-led alliances confident of winning
Watch: Australia star inquires Rishabh Pant about his next IPL team, gets 2-word reply
Shah Rukh Khan’s house Mannat was first offered to his industry rival…, but he refused because...
The Visionary Who Promises a Blue Sky for India: Holger Thorsten Schubart’s G20 Climate Speech
The Surge of High-End Living: Luxury Residential Market to Outpace Other Segments
FeFCon 2024 to be Held in Bangalore: A Premier Event on Fever Management
'That’s wild': Noida man turns cigarette butts into teddy bears in viral video, watch
London Airport evacuates passengers over security threat, thousands stranded
The World’s First Innovative Iron Supplement to Combat Iron Deficiency and Anaemia
Meet grandmother who became fashion icon after trying on her granddaughter’s clothes
IND vs AUS: Rishabh Pant joins Virat Kohli, Rohit Sharma in elite WTC list, becomes 3rd Indian to...
'All scripted drama...': Puneet Superstar allegedly assaulted by influencers in viral video, watch
Actress Ana de Armas caught kissing Cuban President Miguel Díaz-Canel’s son in viral photos
Oreshnik's Shadow: Will Russia's hypersonic missile force west to back down?
‘You’re So Beautiful’: World’s tallest woman meets world’s shortest woman over tea, pics go viral
Delhi-NCR Air Pollution: Consequences of GRAP-4 are drastic, may have adverse effects, says SC
Delhi-NCR Air Pollution: Schools likely to stay closed till..., check city-wise update
Maharashtra: 3 killed, 9 hospitalised after gas leak at fertiliser plant in Sangli
THIS farm is selling a cup of coffee for Rs 28000, but there's a twist, it is...
Chhattisgarh: 10 Maoists killed after encounter with security personnel in Sukma
Mukesh Ambani's SUPERHIT plan for Jio users, offers unlimited 5G access for 1 year for just Rs...
IND vs AUS 1st Test: KL Rahul's dismissal sparks DRS controversy in Perth Test
Dense fog, heavy rain predicted in these states till November 25; check here
Oreshnik Hypersonic Missile: Which nations are within its range?
Bihar teacher, principal reach school in drunken state; know what happened next
'I have faced a lot of...': Arjun Kapoor REVEALS his biggest fear amid break up with Malaika Arora
How millions of Indians may get affected due to US indictment of Gautam Adani in bribery case
Amid divorce rumours with Aishwarya Rai, Abhishek Bachchan says 'missing someone is okay but...'
After Bibles, watches and sneakers, Donald Trump is now selling autographed guitars, price is...
Delhi pollution: Air quality improves to ‘very poor’ category, AQI at...
Vladimir Putin's BIG threat, warns he could strike UK with new ballistic missile if...
Shillong Teer Results TODAY November 22, 2024 Live Updates: Check winning numbers here
Somebody misbehaved with Alia Bhatt on Highway sets then Imtiaz Ali had to...
Zomato CEO Deepinder Goyal reveals twist behind Rs 200000 job fee, closes application window
Days after Ratan Tata's demise, Tata Group's Rs 131000 crore company inks pact with ADB for...