DA Hike 2024: After a long wait, central government employees are likely to receive a good news around salary hike as reports suggest that the Modi government will announce a 3% raise in dearness allowance (DA) ahead of Diwali. This likely hike in dearness allowance means over 1 crore central government employees and pensioners will receive their October month’s pay with increased DA along with three months’ arrears.
The Centre hikes the Dearness Allowance (DA) twice a year, effective from January and July. However, the announcements are typically made around March and September. The January DA hike is usually announced around Holi, which falls in March, while the July hike is declared around Diwali, which usually takes place in October or November each year.
This year, the July DA hike has been delayed significantly. It was initially expected that the announcement would occur before the Haryana elections, which were held on October 5. However, since this did not happen, reports now suggest that the hike will be announced just days before Diwali, which will be celebrated on October 31 this year.
Dearness allowance is an important part of the salary of government employees, which aims to reduce the impact of inflation. It is determined on the basis of the All India Consumer Price Index (AICPI), which monitors changes in retail price.
Employee union took up DA hike delay matter with Centre
Earlier this month, the Confederation of Central Government Employees and Workers wrote to Finance Minister Nirmala Sitharaman, drawing the government’s attention towards the delay in announcement of DA hike for employees and pensioners.
Central employees’ DA likely to be hiked by 3%
At present DA is 50%, and if the government increases it by 3%, it can become 53% from July 1, 2024. This will greatly benefit the central government employees.
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Himachal govt hikes DA by 4% ahead of Diwali
It is worth noting that the Himachal Pradesh government has already given a gift to the state employees by giving a hike of 4% before Diwali, benefiting 1.80 lakh employees and 1.70 lakh pensioners. If the central government also makes a similar announcement, it will prove to be a great Diwali gift for the central employees.
