7th Pay Commission Update: Salary will Skyrocket! But Decision on After 17 days, See Details

For the employees of the central government, good news is on the way this month. A statement about rising dearness allowance and dearness relief for employees and pensioners will be made. An rise in DA at a rate of 4% can be announced.

KEY TAKEAWAYS

  • Employees’ dearness allowance will increase by 4%. (DA Hike).
  • The new DA  (Central Employees Dearness Allowance) will go into effect on July 1, 2022.
  • The central staff dearness allowance is currently 34% and will increase to 38%.
  • The new series of WRI, with a base year of 2016=100, will replace the current series, which has a base year of 1963–1965.

What you will discover in this post?

Recent update on 7th Commission Central government DA. Next Cabinet meeting details for the decision and arrears effect.

On September 28, there will be a cabinet meeting.

The dearness allowance of the employees will increase by 4% (DA Hike) in accordance with the AICPI index data up to June. The AICPI index now stands at 129.2. If reports are to be believed, it may be revealed during the Union Cabinet meeting scheduled for September 28. Beginning on July 1, 2022, the new Dearness Allowance (Central Employees Dearness Allowance) will be in effect. Following the announcement, the benefit of enhanced DA will be included in October’s salary. The current dearness allowance for central staff is 34%.

The DA rises in this manner.

The central employees’ dearness allowance is based on consumer inflation, i.e. Consumer Price Index for all of India. If this amount continues to rise, the dearness allowance will rise correspondingly. Data on consumer inflation for the first six months of this year have been released. This demonstrates that a 4% rise in dearness allowance is anticipated during the next several days.

The staff will be able to use this formula.

The Ministry of Labor and Employment has modified the calculating method for dearness allowance. The base year for Dearness Allowance has been amended to 2016 by the Labor Ministry (DA Calculation). There has been the introduction of a new WRI-Wage Rate Index series. According to the Labor Ministry, the existing series of WRI with a basis year of 1963–1965 will be replaced with the new series with a base year of 2016=100.

Learn what authorities have to say.

According to experts who assess inflation, a 4% salary increase for employees will be implemented in September. All India Consumer Price Index – IW (All India Consumer Price Index) was 129.2 in June. The dearness allowance will unquestionably rise by 4% as a result. Experts claim that if the dearness allowance total for June rises to 130, the uncertainty around dearness allowance may have gotten worse.

Also Read: Top 5 Reputed Banks Now Provide with FD rates up to 8.25%; Details are available here.

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