DA Hike Latest News: Earlier media reports indicated that central government employees were hoping for a Dearness Allowance (DA) increase in September. However, due to upcoming state assembly elections, they might have to wait longer, according to a report. There will be a delay in the announcement of the DA hike for central government employees because of the above-mentioned reasons. While it was expected to be revealed in September, this now seems unlikely.
A source mentioned that the government might choose to announce the increase closer to the Haryana assembly election date for political reasons, as voting in Haryana is set for October 5. The DA hike is based on the All India Consumer Price Index (AICPI), and an increase would raise the salaries of central government employees and pensioners. After the Unified Pension Scheme (UPS), there may be more good news for central government employees this month.
Although earlier reports suggested an announcement in the September, that timeframe is nearly over, making it seem improbable. Now, it is believed that a decision on the DA increase could come in the last week of September. Central government employees are eagerly awaiting this announcement and are hopeful for a positive outcome from the government.
DA Hike Latest News September 2024
There is a pattern followed by the Government. The hike in the Dearness Allowance (DA) and Dearness Relief (DR) for employees and pensioners is done by the govt, two times a year starting in January and July. Announcements are usually made in early March and October.
However, a source from Financial Express suggests that the DA increase might be announced around the time of the Haryana assembly elections, which are set for October 5. In recent years, the DA hike has been revealed about a week or two before the Diwali festival, but this year it could come earlier because of the elections. The announcement for the DA increase for central government workers and pensioners may happen in the last week of September, potentially benefiting over 1 crore employees and pensioners with a rise of up to 4%.
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Arrear disbursal schedule of pensioners and employees
- Obviously the eligible and deserved employees and pensioners are eagerly waiting to receive the arrear from the govt.
- Reports suggest that if the DA increase is declared by the end of September, it could be reflected in the October salary and pension disbursements.
- This would result in the crediting of arrears for the months of July, August, and September.
- Employees are keenly awaiting further updates regarding the DA arrears.
- The potential DA hike could lead to an increase in monthly compensation for October.
- If confirmed, the three-month arrears would be deposited into employees’ accounts in October.
- The expectation of a DA hike has generated significant interest among central government staff.
- Timely announcements regarding DA adjustments are crucial for financial planning among employees and pensioners.
- The implementation of the DA hike is closely monitored by those affected, as it directly impacts their financial well-being.
- Overall, the anticipation surrounding the DA arrears reflects the broader economic concerns of government employees and pensioners.
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DA Hike How Much?
The central government is anticipated to reveal an increase in the Dearness Allowance (DA) for its employees and pensioners during the final week of September.
- This adjustment could potentially benefit millions of employees and pensioners, with an expected DA rise of up to 4%.
- Reports suggest that the government is likely to implement a DA increase ranging from 3% to 4% in September.
- According to insider information, a 3% increase is the most probable outcome, although a 4% increase remains a possibility.
- Such an increase would provide significant financial relief to central government employees and pensioners.
- However, these individuals will need to exercise patience as they await the official announcement.
- The timing of the DA hike may have been influenced by the upcoming state assembly elections scheduled for early October.
- Had these elections not been on the horizon, the DA increase could have been disclosed as early as the second week of October.
- The decision regarding the DA adjustment is closely monitored, given its impact on the financial well-being of government employees and pensioners.
- Overall, the forthcoming announcement is highly anticipated and could lead to substantial changes in the financial landscape for those affected.
The last hike was on march. In March 2024, the central government implemented a 4% increase in both dearness allowance (DA) and dearness relief (DR). This adjustment raised the DA to 50% of the basic salary, while pensioners also benefited from a 4% increase in DR. Typically, the government reveals changes to the DA during the Diwali festival, whereas adjustments in the January cycle are generally announced around the time of Holi in March.
Let’s roll your eyes on this news. Is there any chance that the withheld DA arrears from the COVID-19 period be paid out?
In a recent statement during the Monsoon Session of Parliament, Minister of State for Finance Pankaj Chaudhary indicated that the government is not expected to disburse the 18-month arrears of Dearness Allowance (DA) and Dearness Relief (DR) that were put on hold due to the COVID-19 pandemic. The government had opted to suspend three installments of DA/DR for central employees and pensioners starting from January 1, 2020, July 1, 2020, and January 1, 2021. This measure was implemented to alleviate the economic strain during the pandemic.
