DA is expected to rise 50% by January 31, 2024
The DA (dearness allowance) rise for July is determined by the numbers from January to June, and the increase for January is determined by the data from July to December.
The DA (dearness allowance) is scheduled to rise by four percent, and by January 31st, confirmation that it has reached fifty percent is anticipated. The dearness allowance will increase for the first time in 2024 with this increase. But March is when the administration is expected to make a formal announcement about this increase. After taking into account the current inflation data, the allowance will be adjusted.
Employees can only benefit from this rise with government approval. Typically, the government sanctions a dearness allowance (DA) hike with a two-month gap before it takes effect.
The All India Consumer Price Index (AICPI) data, which is evaluated twice a year, is used to calculate the dearness allowance (DA) for Central government employees. While the second evaluation covers July through December, the first covers January through June.
The dearness allowance rise for July is determined by the numbers from January to June, and the increase for January is determined by the data from July to December.
As of right now, November’s AICPI index values indicate a 0.7-point increase to 139.1 points. The dearness allowance (DA) based on the index is currently 49.68 percent, according to the DA calculator. The decimal digit is rounded to fifty percent because it is greater than 0.50.
The Central Government increased the DA by four percent last year in March 2023, starting in January 2023. This resulted in an increase in the allowance from 38 percent to 42 percent, which helped 68 lakh pensioners and about 47 lakh government employees.
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