DA Hike 2024: Central government employees are expected to get a big gift this Diwali. If media reports are to be believed, the government may soon increase the dearness allowance (DA) by 3%, which will lead to an increase in the salary of government employees.
This decision will be finalized in the upcoming cabinet meeting. It is being said that around Diwali, i.e. around October 31, 2024, a 3 per cent increase in the dearness allowance (DA) of central employees can be revealed. It was reported that it would be announced after the Union Cabinet meeting on October 9. But now sources are saying that the official announcement can be made around Diwali, which will be celebrated on October 31 this year.
The market for such speculations is hot. The latest reports have claimed it can be approved in the next cabinet meeting a few days before this Diwali.
What is dearness allowance?
Dearness Allowance (DA) is an integral part of the salary of a government employee. The government gives this allowance to help the employees financially when inflation increases. It is calculated based on the All India Consumer Price Index, which keeps an eye on changes in retail prices. DA is changed twice a year.
A 50% dearness allowance is being given to central government employees. If the government implements this scheme, the new rate of DA will increase to 53% from July 1, 2024. That is, government employees will get more salary than before. Along with this, the employees will also get the arrears for July, August and September.
More than one crore employees and pensioners of the central government will benefit from the increase of 3% in dearness allowance. The increase in DA will provide some relief to the employees.
Last year, DA was also increased by 3% before Diwali. In such a situation, the government is expected to follow the same path as last year. This will make this Diwali even more special for the employees. However, no official decision has yet been made.
