A big decision can be taken in the meeting of PM Narendra Modi’s cabinet regarding the increase in dearness allowance of central employees. It is expected that the government can give a Diwali gift with a 3 percent DA increase.
In the festive season, Narendra Modi government (PM Modi government) is preparing to give a big gift to the central employees. According to the update that has come out quoting sources, the Center can give Diwali gifts to the employees by increasing the Dearness Allowance (DA Hike). This time the government can increase DA by 3 percent and if this happens then the DA received by the employees will increase to 53 percent.
Read This: Why there is Revision in Wage Rates of Labours
DA of Employees Will Be Increased to 53%:
Central employees are currently getting 50 percent DA and the government seems to be inclined to increase it by 3 percent before Diwali. This news has come out quoting government sources. If this happens then DA will increase to 53% and it will be applicable from July 1, 2024. This means that the Diwali of central employees will become even brighter and there will be a bumper increase in their salaries. According to sources, a decision on this can be made during the cabinet meeting on Wednesday.
Earlier There Was an Increase in March:
Generally, the Central Government revises the DA of employees in January and July. Earlier, on March 24, 2024, central employees were given a gift of 4% DA Hike. With this increase, the dearness allowance he received was increased from 46% to 50%. It is noteworthy that signs of DA hike were already visible. In a recent report, a senior official of the Confederation of Central Government Employees and Workers was quoted as saying that there will be an increase in DA in the next cabinet meeting. We are expecting a growth of at least 3%.
Employee Salary Calculation:
Now let us talk that if the government increases the dearness allowance by 3 percent, then how much will the salary of the employees increase? So according to the calculation, if the basic salary of an employee is Rs 55,200, then at present his dearness allowance at the rate of 50 percent is Rs 27,600. Whereas if DA increases to 53 percent, then their dearness allowance will increase to Rs 29,256. That means the salary of the employees will increase by Rs 29,256 – Rs 27,600 = Rs 1,6561,656.
Here let us tell you that the calculation of DA received by the employees is related to the All India Consumer Price Index (AICPI), which tracks retail inflation in the last 12 months. With world inflationary pressures and rising costs, this decision is important for managing household budgets across the country.
