7th Pay Commission: DA hike announcement likely on THIS day, check how much your salary will increase

7th Pay Commission, DA hike announcement: There is a set formula on the basis of which the DA hike is calculated. This time the dearness allowance hike is expected to be around 4 per cent.

7th Pay Commission, DA Hike Announcement News: The dearness allowance is calculated as a proportion of the basic salary. Photo credit: Pixabay

7th Pay Commission, DA Hike Announcement News: There is some good news in the offing for government employees as the Central government is likely to announce the hike in the dearness allowance (DA) soon. Reports suggest that the announcement in this regard can be made on Wednesday i.e. March 22, which coincides with the beginning of Chaitra Navratri, during which people will worship the goddess Durga in her nine different manifestations. This is because the Union Cabinet is scheduled to meet on March 22, which marks the beginning of the nine-day festival.

What track record suggests?

It has been the trend so far that the government announces the dearness allowance or DA in the month of March. This is revised twice, usually in the months of January and July and the announcement regarding the hike in DA is made in the month of March. It is to be noted that the payout is also done generally in March.

TRENDING NOW

How much DA hike is expected this time?

There is a set formula on the basis of which the DA hike is calculated. This time the DA hike is expected to be around 4 per cent. At present, the central government employees and pensioners get a 38 per cent dearness allowance and dearness relief, respectively.

ALSO READ | Wealth creation pick: Anil Singhvi recommends buying THIS stock

The last DA hike was announced by the Central government on September 28, 2022. It was effective from July 1, 2022.

How much will the salary of employees increase?

The dearness allowance is calculated as a proportion of the basic salary. With the increase in DA, the take-home salary of government employees will also increase. If the basic salary of a central government employee is Rs 25,500 per month, he must be getting the dearness allowance of Rs 9,690 - on the basis of the current DA of 38 per cent. Now when DA jumps to 42 per cent, the DA will rise to Rs 10,710. This means the salary will increase by Rs 1,020 (Rs 10,710 - Rs 9,690).

TAGS:

DA hike 7th Pay commission