DA Hike Latest Update Sep 2024: In September 2024, the 7th Pay Commission Dearness Allowance (DA) Hike might represent yet another advantageous move for central personnel. Employees of the central government may receive a raise in dearness allowance (DA) this month. In the third week of September, the administration is expected to announce a 3 to 4% DA boost. Although a September announcement is anticipated, the DA hike might start in October. On the other hand, the administration has formally released no information about the DA raise.
DA Hike Latest Update Sep 2024
Good news for central employees that their wait regarding DA hike may soon come to an end. It is expected that by the end of September, the implementation date of the DA Hike beginning in July 2024 would be confirmed. It has been agreed that central employees will get a 3% increment in dearness allowance beginning in July 2024, following a 1.5-point jump in the June AICPI index, based on the AICPI-IW index data in between January to June 2024.
In the third week of September, the government might raise the dearness allowance by 3% to 4%. Although the 3% increment has been confirmed, we still have the opportunity to raise it to 4%. As per the media reports, the government raised the DA from 4% to 50% of base salary early in March 2024. Pensioners receive Dearness Relief (DR), whereas central employees receive Dearness Allowance (DA).
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Calculation of DA Hike and Payment of Dearness Allowance Arrears
The scope of the dearness allowance hike has been made clearer by the AICPI index data for the period of January to June 2024. The 7th Pay Commission’s employees and pensioners would directly benefit, with the DA scheduled to increase to 50% starting in January 2024. In June, the dearness allowance score increased in tandem with a notable 1.5-point increase in the AICPI index.
The announcement of the dearness allowance for central personnel is scheduled for the end of September. However, it won’t be put into effect until July 2024. Arrears will be the type of payment for the months in between. It is expected that it could be revealed at the cabinet meeting on September 25.
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In this case, employees and pensioners will also get an additional benefit as arrears of three months. These additional payments will be equivalent to the difference between their previous DA and the new DA. Currently 50% of DA and DR has been paid to the employees and pensioners. Now the amount has increased to 53%. There will be an additional 3% charge. This is applicable for July, August and September.
