DA Can Be Hiked To 38% For 50 Lakh+ Govt Employees! 4% DA Hike Likely In August As Per Reports
According to the latest update on the 7th Pay Commission dearness allowance hike, multitudes of central government employees can expect good news next month.
According to different reports, the Centre could hike the Dearness Allowance (DA) by about 6% in August, giving a higher-than-expected DA hike by the end of the ongoing month.
DA Hike by Central Govt Expected Soon
Many reports have corroborated the likelihood of the Government incrementing the DA of lakhs of central government employees next month.
The Centre, in its cabinet meeting scheduled in the first week of August, probably on August 3, could consider a hike in the Dearness Allowance by 6% to 40% in the month.
The announcement of the same could come in the third week of August, stated multiple media reports.
The hike in DA is expected by multiple sources because the All-India CPI-IW data or the AICP index, which is a key factor in determining the DA, points towards a probable rise in the allowance, likely to bring in better news for the employees in July.
Currently, the DA stands at 34% and after an estimated 6% hike by the Centre, the dearness allowance could jump upto 40% in August.
However, a Zee News portal underlines that all of these DA hike reports are only a speculation, reading the changes posed by the AICP index, and employees will have to wait for official word on the same.
The Centre revises the employees’ DA twice every year, from January to June and from July to December.
The AICP index has risen 1.7 points for Apr 2022 and stands at 127.7. On a 1-month percentage change, it has climbed by 1.35%, while the AICPI figure for May stands at 129, indicating a surety of the DA coming in higher than expected by 6% in the upcoming month, stated reports.