7th Pay Commission: Government employees are eagerly awaiting news of a wage boost just before the holiday season.
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According to media reports, the DA increase will likely be 4% rather than the earlier predicted 3%. Once announced, the increase will take effect on July 1, 2023.
Given that Navratri begins on October 15 and Dussehra is on October 24, a notification of a DA hike and arrears would be a welcome and timely present for government employees and pensioners. According to several media reports, the DA will be hiked during the holiday season as gifts for government employees.
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Unlike DA given to government employees, DR is given to pensioners. DA and DR are hiked twice a year- January and July. Currently, employees are getting 42% DA.
A 4% increase is anticipated for central government employees under the formula used to calculate DA using the most recent Consumer Price Index for Industrial Workers (CPI-IW), according to an ET report. The dearness allowance will rise to 46% after this increase.
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How much salary will rise after the DA hike is announced?
For instance, if a person is earning Rs 50,000 monthly and has Rs 15,000 as basic pay, gets Rs 6,300 as basic pay. After DA gets hiked by assumably 4% then the employees will get Rs 6,900 per month. The salary will be hiked by Rs 600 for the employees.
