CABINET APPROVES 50% DA FROM JANUARY 2024: महंगाई भत्ते में 4% बढ़ोतरी को केंद्रीय केबिनेट की मंजूरी
49.18 lakh employees and 67.95 lakh pensioners to benefit
4% benefit to cost Rs.12,868.72 crore per annum to exchequer
The Union Cabinet chaired by Prime Minister Shri
Narendra Modi approved to
release an additional instalment of Dearness Allowance (DA) to Central
Government employees and Dearness Relief (DR) to pensioners w.e.f. 1.1.2024
representing an increase of 4% over the existing rate of 46% of the Basic
Pay/Pension, to compensate against price rise.
The
combined impact on the exchequer on account of both Dearness Allowance and
Dearness Relief would be Rs.12,868.72 crore per annum. This will benefit
about 49.18 lakh Central Government employees and 67.95 lakh pensioners.
This
increase is in accordance with the accepted formula, which is based on the
recommendations of the 7th Central Pay Commission.
As you know DA hike from January 2024 for Central Govt Employees and Pensioners
is a great bonanza before festival season ahead. DA hike is calculated based on
CPI-IW numbers released by Labour Bureau every month. By the time of July new
Government would have been formed in centre.
What is DA and DR?
The Dearness Allowance (DA) and Dearness Relief (DR) is a
calculation on inflation and allowance paid to government employees and
pensioners in India.
Aspects Overriding the Calculation of DA and DR
Consumer Price Index for Industrial workers (CPI-IW) is the main
factor for calculation of DA and DR.
What is the AICPIN For
Dec 2023?
The
All-lndia CPI-IW for Dec stood at 138.8
Check All Latest News about DA/DR
Why to Calculate Expected Dearness Allowance and Dearness Relief ?
The
calculation of Dearness Allowance (DA) and Dearness Relief (DR) is a useful
tool for government employees and Pensioners to guess their upcoming remuneration
and Pension and plan their expenditures accordingly.
Calculation for DA calculation from January 2024
For
Calculation for Expected DA from January 2024, AICPIN/CPI-IW points for
past 12 months are used. Average of last 12 months CPI-IW is taken on account
for DA Calculation for the current month.
Below tables will explain the DA calculation from January
2024 for central Govt Employees and Pensioners-
|
MONTH |
CPI(IW) |
12 MONTH AICPIN AVG |
DA/DR CALC |
FINAL DA/DR % |
|
July 2023 |
139.7 |
133.55 |
47.13 |
47 |
|
August 2023 |
139.2 |
134.30 |
47.96 |
47 |
|
September 2023 |
137.5 |
134.82 |
48.53 |
48 |
|
October 2023 |
138.4 |
135.31 |
49.07 |
49 |
|
November 2023 |
139.1 |
135.86 |
49.67 |
49 |
|
December 2023 |
138.8 |
136.40 |
50.27 |
50 |
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