Good news for central employees and pensioners! The government is going to increase the dearness allowance (DA) by 3% soon. This increase will benefit about 1 crore employees and pensioners.
How will DA increase
AICPI IW Index: According to the AICPI IW index data from January to June 2024, DA is estimated to increase by 3%. In June, the index registered a rise of 1.5 points, after which it was decided that employees would get a 3% increased DA from July 2024.
Possibility of Announcement Before Haryana Assembly Elections
The central government may announce a hike in DA before the Haryana assembly elections, which are scheduled to be held on October 5. This may give employees and pensioners the good news of an increase in dearness allowance by the end of September.
The announcement will be made at the end of September
According to sources, the government can announce a hike in DA in the last week of September. This hike will be for the second half of the year. It is believed that this issue has been included in the agenda of the cabinet meeting to be held on September 25, and after this, the announcement of the DA hike can be made anytime.
Increased DA will be available with the October salary
If the DA hike is announced by the end of September, then the employees will get the increased DA with the October salary. Along with this, the DA arrears for 3 months of July, August, and September will also be deposited in the account of the employees.
Why will 3 months of DA arrears be available
The government increases DA twice every year. The first hike is announced in March, which is effective from January 1.
The DA hike for the second half is announced in September, which is effective from July 1. In such a situation, employees will get the benefit of DA arrears for July, August, and September, which will be available with the salary in October.
This is good news for central employees and pensioners. The 3% increase in DA will increase their monthly income and will also get the arrears of the last 3 months.
This announcement of the government will not only provide financial support but will also help in reducing the impact of inflation.