Expectations are high on the employees’ side that the decision will likely be taken after the New Delhi G20 Summit 2023 hosted by PM Modi concludes on Sunday.
7th Pay Commission latest news: Dearness allowance (DA) for lakhs of central government employees currently stands at 42 percent after the January 2023 hike of four percent. Official confirmation is awaited from the Centre regarding the figure and announcement of the next round of DA hike. However, expectations are high on the employees’ side that the decision will likely be taken after the New Delhi G20 Summit 2023 hosted by Prime Minister Narendra Modi concludes on Sunday, September 10.
Anticipation has grown among central employees and pensioners after the release of the most recent data on Consumer Price Index (CPI) data. Retail inflation climbed to 7.44 percent in July 2023, a 15-month high and way above the Reserve Bank of India (RBI) target to keep it at 4 percent or below. DA hikes prove crucial for central government employees to deal with price rise. While central government employees get DA, pensioners receive Dearness Relief (DR).
DA is calculated on the basis of the agreed formula under the 7th Pay Commission rules taking into consideration the latest data from the Consumer Price Index for Industrial Workers (CPI-IW).
Earlier reports have claimed that the central government employees and pensioners are likely to get a 3 percent hike, taking the DA figure to 45 percent. The hike could get the Union Cabinet nod as early as the third week of September, DNA sister outlet India.com reported citing a Finance Ministry official.
Senior employees also expect a 3 percent hike this time. All India Railwaymen Federation General Secretary Shiva Gopal Mishra was quoted by PTI as saying, “The CPI-IW for June 2023 was released on July 31, 2023. We are demanding a four percentage point hike in dearness allowance. But the dearness allowance hike works out to be a little over three percentage points. The government does not factor in hiking DA beyond the decimal point. Thus DA is likely to be increased by three percentage points to 45 per cent.
Once announced, the second DA hike of 2023 will be effective from July 1 onwards for central government employees.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "7th Pay Commission: Central government employees await big decision, likely after G20; details")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}