In Short:
In September, central employees might receive an exciting update regarding their dearness allowance (DA). The cabinet is expected to approve a 3% increase in DA, boosting the current rate from 50% to 53%. This adjustment, effective from July 1, 2024, will be based on recent Consumer Price Index (CPI-IW) data indicating higher inflation. The increase will provide notable financial relief to employees and pensioners, with additional payments for July and August issued as arrears.
Key Points:
– A 3% increase in the dearness allowance for central employees is anticipated.
– The increase will raise the DA from 50% to 53%, starting from July 1, 2024.
– The cabinet is expected to approve the increase in the latter half of September, possibly on September 18 or 25.
– The rise is based on the Consumer Price Index (CPI-IW), reflecting increased inflation.
– The DA adjustment will lead to a monthly salary increase of ₹540 for employees with a basic salary of ₹18,000, and around ₹1,707 for those with a basic salary of ₹56,900.
– The DA increase will be implemented as arrears for July and August 2024.
