Central government employees may receive a 3% Dearness Allowance hike, raising their DA from 50% to 53%.
Central government employees are likely to get a huge Diwali bonus as the government is expected to announce a 3% Dearness Allowance (DA) hike. The official declaration may come closer to Diwali celebrations, set for October 31, it was reported after the decision is finalised in the next Cabinet meeting.
The government is likely to announce a 3% DA hike for central employees ahead of Diwali, raising the current rate to 53%. This would impact over a crore employees and pensioners, providing them with arrears for previous months.
Dearness Allowance (DA) is calculated based on the All India Consumer Price Index (AICPI), which tracks retail price movements and is is revised twice a year. Hike in DA means increased take-home pay for government employees at a time when inflation continues to impact households.
At present, the DA stands at 50%, but if the government moves ahead with this plan, the new rate could go up to 53% from July 1, 2024. This will likely benefit more than a crore central government employees and pensioners and employees will also receive arrears for the months of July, August, and September.
Last year, the government announced the hike before the festive season. Ahead of the same, the Himachal Pradesh government has already given its employees an early Diwali surprise with a 4% DA hike just before Dussehra which is expected to benefit 1.80 lakh employees and 1.70 lakh pensioners in the state.
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News/Business/ Central government employees to get DA hike before Diwali? What we know
