Good news for workers, the Dearness Allowance may rise by 5% in January 2024. This is the latest update on the Next DA Hike

 Good news for workers, the Dearness Allowance may rise by 5% in January 2024. This is the latest update on the Next DA Hike

Next DA Hike: New Update: Experts predict that the dearness allowance may rise to 51 percent based on the present trend. This will result in a significant 5 percent increase. Only the AICPI index is used to determine dearness allowance.

DA Hike Calculator: Over the holidays, central staff will get good news. The New Year's planning has begun. There will be numbers attached to this. This suggests that they will get an even greater present in the next year. There is excellent news to report, particularly about the dearness allowance. The dearness allowance has been amended to 46 percent as of July 1, 2023. The following revision is now scheduled for January 2024. Based on the predicted numbers, this adjustment may be the largest one to yet.

The dearness allowance might rise by 5%.

In many respects, 2024 will be significant for central government personnel. Dearness Allowance (DA) is able to exceed fifty percent. In addition, if we follow the pattern, central workers' dearness allowance (DA) has gone up by 4% each of the last four years. However, the dearness allowance may see its largest-ever hike of 5% in the next year.

The AICPI Index will determine the DA score.

Experts predict that the present trend will lead to a dearness allowance of up to 51 percent. This will result in a significant 5 percent increase. Only the AICPI index is used to determine dearness allowance. The index's collection of inflation data from several industries illustrates how much the employee allowance should rise in relation to inflation.

What is the current amount of dearness allowance?

AICPI index values for July, August, and September have been made public, if we examine the present state of affairs. The dearness allowance has reached 48.54 percent as a result of the index's most recent value of 137.5 points. This percentage is predicted to surpass 49.30 percent in October. Subsequently, the statistics from October, November, and December will determine the amount of the January 2024 DA rise. We will have to wait until December 2023 for the AICPI index values, however, for this.

Large increase in the dearness allowance

AICPI figures from July to December 2023 will determine the dearness allowance for central workers under the 7th Pay Commission. The percentage of dearness allowance is 48.54 percent. Three more months of data are yet to come in. According to experts, there's a chance it will rise by an additional 2.50%. January 2024 might see a five percent rise in the dearness allowance. Five percent is noticed in the Dearness Allowance due to the Dearness Allowance calculator (DA calculator) indicating a rise of one to one and a half points in the remaining months.