For Central Government employees there will be new goods making headlines soon. Before Holi 2023, the dearness allowance for Central Government employees is most likely to be increased by 4 per cent. As per Zee Business, the new rate will be approved during the Union cabinet meeting, going to be held in the first week of March.
Government to Hike DA in Next Cabinet Meeting
Currently, the DA or Dearness Allowance for Central Government employees is 38 per cent. Now as per the reports, the upcoming hike will increase it to 42 per cent from 38 per cent. Hence with the latest increase, increased DA will be paid with the salary of March.
“Every year, the Centre hikes the DA of government employees and the DR of pensioners twice. First in January and then in July,” mentioned DNA India.
“Till December 2022, the figure of CPI(IW) remains at 132.3. It is clear from the figures that the dearness allowance will increase by more than 4 per cent,” mentioned further.
How Much Central Government Will be Paid After DA Hike?
So, after this 4 per cent hike the total DA will be 42 per cent. So, for instance, if your salary is ₹18,000 per month then your annually paid DA amount will be ₹90,720. Hence, employees will be receiving the additional benefit of ₹720 per month, this figure will increase the monthly paid DA amount to ₹ 7,560 from ₹ 6,840.
Also read:
Latest ITR Forms Released By Centre for Return Filling for FY 2022-23
Calculations:
- “If the Basic salary of the employee is Rs 18,000 per month then 18000 x 42 / 100 = 7560
- New Dearness Allowance (42%) Rs 7560/month
- New Dearness Allowance (42%) Rs 90,720/annum
- Dearness Allowance till now (38%) Rs.6840/month
- How much dearness allowance increased 7560- 6840 = Rs 720 per month
- Increase in annual salary 720X12 = Rs 8,640
- One can calculate his/her DA hike amount by using the above formula with different basic pay.”
