7th pay commission: Good news! There will be an increase in both salary and pension. Know how much DA and DR will increase
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7th Pay Commission: Central Government employees can get great news in the coming days. According to media reports, the government may soon increase the dearness allowance or DA of the employees by 3-4 per cent for the period starting from July 1.
Retail inflation has come down from the RBI’s upper limit of 6 per cent to 5.66 per cent in March 2023, but it is still far from the Reserve Bank’s target of 4 per cent, so inflation remains intact. Keeping in mind the rising inflation, the government gives DA-DR to the employees and pensioners.
Earlier, a revision of 4 per cent was done last month, which became effective from January 1, 2023. After the 4 percent increase, the DA of the central government employees has increased to 42 percent. DA was increased by 4 percent in September 2022, which became effective from July 2022.
There will be an increase in salary and pension
As per reports, now a further hike of 3-4 per cent in DA is expected for the 7th Pay Commission, which will be effective from July. As per the latest data, there are 47.58 lakh central government employees and 69.76 lakh pensioners. According to the CPI-IW data released by the Labor Bureau under the Ministry of Labor and Employment, the government sets the rate of dearness allowance.
Revision is done in January-July every year.
DA and DR are revised twice a year in January and July. Dearness allowance is given to government employees, while dearness relief is given to pensioners. DA is given to the employees on the basis of basic salary, while DR is given on the basis of basic pension.
The Jharkhand government on Thursday increased the dearness allowance of its employees from 34 per cent to 42 per cent. The decision to increase the DA rate was taken in the state cabinet meeting chaired by Chief Minister Hemant Soren. The DA has been increased as per the approved formula based on the recommendations of the 7th Central Pay Commission.
(pc freepik)
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