7th Pay Commission news: The Union Cabinet is scheduled to hold a crucial meet on March 22.
7th Pay Commission DA hike news: Central government employees have been waiting for a hike in their salaries for the last few months. Earlier, it was said that they would get a hike in dearness allowance (DA) around Holi. However, the Centre did not announce any hike in salary. However, now there is some good news for them.
The Central government is likely to announce the hike in the dearness allowance (DA) on Wednesday, March 22, according to a Zee Business report. The announcement of the DA hike is likely to come after the crucial Union Cabinet meeting on March 22, which marks the beginning of Chaitra Navratri.
The Centre is likely to announce a 4% DA hike for Central government employees. Currently, they are getting a 38% dearness allowance and dearness relief. After the new hike, they will get 42% DA.
Last time, the DA hike was announced by the Central government on September 28, 2022, and it was effective from July 1, 2022. The Centre revises DA twice a year, once in January and a second time in July.
After a 4 % DA hike, the total DA will be 42%. Hence, the total annual dearness allowance on the basic salary of Rs 18,000 will be Rs 90,720 (annually). There will be an increase of Rs 720 every month. Currently, at 38%, employees get Rs 6,840 dearness allowance monthly. After the fresh hike, the employees will get Rs 7,560 per month.
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
Any employee can calculate his/her DA hike amount by using the above formula with their respective basic pay.
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