Good News! Dearness Allowance (DA) will get approval from Modi cabinet, central employees will get money in 3 days
7th Pay commission latest news today: The wait of central employees is over. The increase in DA Hike will be approved in the Union cabinet to be held on Wednesday this week. This time the dearness allowance has been increased by 4% on behalf of the Modi government.
PM Modi will announce this in the meeting to be held on Wednesday. This time the dearness allowance will increase to 42%. On the basis of AICPI-IW figures, allowance is given to the employees by calculating inflation. It is revised every 6 months. Let us tell you, the increased dearness allowance will be applicable from January 2023. Till now 38% dearness allowance is being received.
4% DA hike approved
Dearness Allowance will be given formal approval on Wednesday in the Modi cabinet. Earlier it was to be announced till Holi, but it did not happen. Prime Minister Narendra Modi can now approve it himself in the cabinet. After this, the Finance Ministry will notify it. As soon as the notification is issued, the increase in the salary of the central employees will start. According to sources, the increased dearness allowance will be paid in the March salary.
Will get arrears of two months
It is believed that the increased dearness allowance is to be paid in the salary of March. Dearness Allowance (DA) has increased by 4% to 42%. This will be applicable from January 2023. In such a situation, the employees will get DA Arrear of 2 months. The total increase in Pay Band 3 is to be Rs 720 per month. Means they will also get arrears of 720X2=1440 rupees for January and February.
How is dearness allowance calculated?
The Labor Bureau calculates dearness allowance and dearness relief for employees and pensioners every month. For this, calculation is done on the basis of Consumer Price Index (CPI-IW). The Labor Bureau is part of the Ministry of Labour. Last year in July 2022 DA Hike of 4% was done. Now once again 4% has been increased. From the CPI-IW data released on January 31, 2023, it was decided that there would be an increase of 4.23% in dearness allowance. But, it is done in round figure, so it is 4%.
Increase in dearness relief for pensioners
The government has also given Holi gifts to lakhs of pensioners of the country. Along with DA Hike, Dearness Relief (DR Hike) has also increased by 4%. Means pensioners will also be paid dearness relief at the rate of 42%. Overall, before the festival, the Modi Government has increased the money of the employees and pensioners under the 7th Pay Commission.