New Delhi: 7th Pay Commission Latest Update- According to media reports, lakhs of central government employees awaiting the announcement of hike in Dearness Allowance (DA) may get more DA than expected by the end of July. The reason behind this bright hope is the recent all-India CPI-IW data. The key factor in determining the DA for the month of May is the AICP index indicates the possibility of an increase in the DA of the central government. In the month of July, the government can bring some more good news for the employees.
Now according to the latest media reports, it may increase by six percent. Dearness Allowance in July, That is, the total DA can reach up to 40 percent.
Dearness Allowance of Central Government Employees Revised twice a year. The first is given from January to June, while the second comes from July to December.
The All India CPI-IW for April, 2022 stood at 127.7 (one hundred twenty seven point seven) with an increase of 1.7 points. Data from the Ministry of Labor and Employment shows that on a 1-month percentage change, it grew by 1.35 per cent over the previous month, as compared to a growth of 0.42 per cent in the same month a year ago. As per the latest reports of the ministry, the AICPI figures for May are 129, which is definitely indicating that the DA will be higher than expected, i.e. 6 per cent, saying several media websites.
The first hike in dearness allowance for the year 2022 was announced in March. The AICPI figure in December 2021 was 125.4. But, in January 2022 it fell 0.3 points to 125.1. The All India CPI-IW for February 2022 was lower by 0.1 points at 125.0 (One Hundred and Twenty Five). On 1-month percentage change, it declined by 0.08 per cent over the previous month, as against a growth of 0.68 per cent recorded between the same month a year ago. There was a jump of 1 point in the month of March. The AICPI index figures for March are 126.
The year-on-year inflation stood at 6.33 per cent as compared to 5.35 per cent in the previous month and 5.14 per cent during the same month a year ago. Similarly, food inflation stood at 7.05 per cent against 6.27 per cent in the previous month and 4.78 per cent during the same month a year ago.
The May AICP index has fueled further speculation that the DA may be increased to 6 per cent which means the total DA could reach 40 per cent.
It may be recalled that the Union Cabinet on March 30 had increased Dearness Allowance (DA) and Dearness Relief (DR) by 3 per cent to 34 per cent, benefiting over 1.16 crore central government employees and pensioners.
The additional installment is effective from January 1, 2022. The hike is as per the accepted formula, which is based on the recommendations of the 7th Central Pay Commission.