7th Pay Commission: Major information released ahead of schedule; DA will rise by this amount

 7th Pay Commission: Major information released ahead of schedule; DA will rise by this amount

The government is planning to raise the DA, which will provide employees a bonus of thousands of rupees. This plan was still a secret, but it was made public before it was supposed to.

The DA increase for January 2023 has not yet been disclosed by the Modi administration at the Center. Yet, sources claim that it has been decided to increase it by 4%. Employees of the central government currently receive a 38 percent dearness allowance, however it is anticipated that this will soon increase to a 42 percent allowance. This will help 48 lakh retirees and 65 lakh government employees. After that, starting on July 1, 2023, central employees' DA will rise once more.

The AICPI index will be the basis for the increase.

The Ministry of Labor's release of the AICPI index data served as the foundation for this increase. The January numbers have increased after declining in December. After looking at this number, it appears that DA will climb by 4% in July of this year. Indeed, according to data from the AICPI index for the months of January through June, DA will rise in July. The government typically makes the July DA increase announcement in September.

The AICPI scored 132.8.

The figure for December 2022 was 132.3 points. The January 2023 estimate that was made public the day before has a 132.8 point value. AICPI might surpass this in the future. In such a scenario, it is anticipated that the DA applicable as of July 1 will increase by 4%. The AICPI index data that came after January will be used to calculate the DA for July.

DA rises twice per year.

Let us inform you that, in accordance with the 7th Pay Commission, the government increases the DA raise for central personnel twice a year. The DA for January 2023 will now be made public shortly. The DA for July 2023 will subsequently be made public.

Who makes the data public?

Let us explain that the AICPI index is used to determine how much the dearness allowance will increase. The Ministry of Labor releases All India Consumer Price Index (AICPI) statistics on the final working day of each month. This index was created for 88 centres as well as the entire nation.