DA Hike News 2024: Dearness Allowance Hike, 7th Pay Commission, Rates Table
DA Hike News 2024: Dearness Allowance Hike, 7th Pay Commission, Rates Table
Employees in the central government are getting more and more excited about a significant increase in their dearness allowance that is expected to take place in the month of July 2024. The most recent update to the DA, which is made every two years to help workers in managing the impact of inflation, took place on January 1, 2024.
The DA Hike News represents the second adjustment for the year, announcing additional financial support during rising living costs. Through the article individual will get to know all the details regarding DA Hike News 2024, including its overview, latest news, implementation date and more.
DA Hike News 2024
The government increased the DA by 4% in January 2024, which makes it equal to 50% of the base salary. This modification is in line with the plan to reduce the impact of inflation on workers. During challenging times, it is hard to manage expenses for government employees, so the government has decided to announce an increase in DA of around 4 to 5%, which could bring total allowance up to 55 to 57% from 1st July 2024.
If the expected four to five percent growth occurs, the DA will increase to approximately 54 to 55 percent. It’s important to note that, with the announcement being scheduled in the month of July 2024, implementation might take place from the month of September, in keeping with previous years schedule with such adjustments.
Amount of Dearness Allowance
The recent dearness allowance (DA) hike has positively impacted employees’ compensation. Previously, with a basic pay of 18,000 and a 50% DA of 9,000, the total was 27,000. After the merger, the basic pay has been revised to 27,000. A subsequent 4% DA increase, amounting to 1,080, brings the total to 28,080, effective from January 1, 2025.
This results in an overall basic pay increase of 9,000, offering a significant increase to employees’ earnings. According to this structure, the dearness allowance of different grade pay will be adjusted accordingly.
7th Pay Commission DA Hike News
The dearness allowance (DA) for central employees currently is at 50 percent, after a four percent increase earlier this year. The next update is scheduled for July 2024, according to the details provided in the DA Hike News 2024 PDF. The All India Consumer Price Index (AICPI) data, which are essential for calculating the DA adjustment, will determine how much of this increase occurs.
