7th Pay Commission Latest Update: Central Government Employees Likely to Get a 3% DA Hike
The Labor Bureau issued a press release on May 31, revealing that the All India CPI-IW for April 2023 stands at 133.3, with an increase of 0.6 points. This means that the estimated DA/DR from July has entered the fourth phase, and central government employees and pensioners may be in for some good news soon. Here are the key takeaways from the latest update:
Increase in DA/DR: After the increase in CPI-IW, there is expected to be a 3% increase in the DA/DR received by employees and pensioners working under the Central Government. This would take the DA of central employees from 42% to 45%.
Confirmation of exact figures: The CPI-IW index will confirm the exact figure for July DA/DR rates in the coming months. The estimated DA/DR from July is also expected to be 46%. If there is an increase in the CPI-IW index in the coming months, further increases in DA/DR can be seen.
Reasons behind the increase: The increase in the CPI-IW index was largely due to food and beverages, with rice, Arhar Dal, apple, banana, orange, cauliflower, brinjal, cabbage, ginger, pea, dairy milk, French bean, lemon, cumin/cumin, dry chilli, cooked food, poultry chicken, suit for ladies, etc. being contributors.
Regional variances: The maximum increase of 4.1 points in CPI-IW was recorded in Howrah, with other centers seeing an increase of between 2 to 2.9 marks. In 30 centers, the increase was between 1 to 1.9 points, and in 37 centers, it was between 0.1 to 0.9 points. On the other hand, the maximum decrease of 1.9 points was recorded in Salem.
Expected DA/DR hike: The Modi Government of the Center is expected to announce a DA/DR hike for employees and pensioners in the month of July. The last time DA hike was announced in March, it was implemented from January 1, 2023.
In conclusion, the latest update on the 7th Pay Commission suggests that central government employees and pensioners may be in for a 3% DA hike, taking the DA of central employees from 42% to 45%. The exact figures will be confirmed in the coming months, with an estimated DA/DR of 46% for July.
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