7th Pay Commission News: Earlier media reports claimed that the government might announce the DA increase in the first week of September. However, according to a new report any news on DA hike as per 7th Pay commission in the first week of September may not come.
The Centre usually raises DA and DR for employees and pensioners twice a year which are effective from January and July & announcements to the same are made in early March and October. However, according to a source of Financial Express, the government may announce the DA hike somewhere close to the Haryana assembly election date. Voting is Scheduled for Haryana elections on October 5.
In the last many years, the DA hike is usually announced 1 to 2 weeks prior to the Diwali festival. As there are state assembly elections scheduled in Haryana & Kashmir, there is a chance that the Centre may announce a DA hike for central government government employees and pensioners in the last week of September.
If reports are to be believed, if the DA hike is announced by the end of September then the central government employees and pensioners, it may actually be implemented in the salary/pension of October month. So 3-month arrears, i.e. July to September, will be credited in the employee’s account in the month of October.
There can be at least a 3% hike in dearness allowance for government employees and dearness relief (DR) for pensioners, as per earlier media reports. The DA hike is calculated on the basis of All India Consumer Price Index (AICPI), as per the changes in retail prices across various sectors.
The DA hike is calculated based on a new consumer price index with the base year 2016.
From December 2023 to June 2024, CPI-IW has increased by 2.6 points from 138.8 to 141.4. If we consider this base, DA hike percentage is likely to increase from 50.28% to 53.36%.
