A very exciting announcement is coming up for all our fellow central government employees: the dearness allowance (DA) is about to get a major boost in July 2024. As you all know, the central government adjusts the DA twice a year.
The first adjustment was implemented on January 1, 2024, and now, according to the DA Hike News 2024, it’s time for the second one. This also means that the Central Employees might get a benefit raise soon, and the timing couldn’t be better with upcoming elections in the country.
DA Hike News 2024
The government might bump up the dearness allowance (DA) by around four to five percent this year due to inflation. If this happens on July 1, 2024, that will mean the DA’s gone up by about 50 to 55 percent overall.
According to DA Hike News 2024, the increase is slated for July this year, but historically, it can take until September for the new rates to really kick in. In previous years, the government’s taken its sweet time with this thing, so they might do the same this time around.
Dearness Allowance Hike News 2024 – Overview
| Department Name | Department of Expenditure & Ministry of Finance |
| DA | Dearness Allowance |
| Year | 2024 |
| Increase Range | 4% to 5% (Expected) |
| DA Increase Date | July 31, 2024 (Expected) |
| Category | Latest News |
| Official Website | https://doe.gov.in/ |
DA Hike News 2024 Payment increases
The DA, or Dearness Allowance, is a percentage of an employee’s basic salary. This percentage can go up or down based on inflation. The government led by Narendra Modi at the Center might make a big announcement about DA for Central Employees in March 2024. They may increase the Dearness Allowance-Dearness Relief (DA-DR) by 4%.
Recently, the extra money employers gave their central employees to help with living costs is up to 50% of their salary. The reason behind this is that at the start of this year, it was increased by 4 percent to get to 50 percent. The next time this could change is in July 2024, according to what we’ve heard from the people who keep track of these things.
But we thought you’d like to know that the exact numbers in the AICPI index will decide how much the dearness allowance for central employees might go up this year. Employees have to wait until July 31, 2024, to find out how much more money they will receive. Because on July 31, 2024, the exact numbers of increases made in the Dearest Allowance of the citizens will be represented to the citizens.
DA Hike News 2024 Latest Updates
The number called AICPI is released at the end of every working day in the month so that we can calculate the Consumer Price Index (CPI) for industrial workers.
- Likewise, in January 2024, the CPI number came out on February 29.
- Then, on March 28, we got the CPI number for February.
- Then, on April 28, we got the CPI number for March.
- Now, the CPI number for April will come out on May 31.
- And then, on June 28, we’ll find out the CPI number for May.
This will all be part of the DA Hike News 2024. Like last time, we’ll get the CPI number for June on July 31. These numbers help us decide if the dearness allowance should go up for the next six months.
7th Pay Commission DA News 2024
- According to the experts, the government’s DA increase for July 2024 will be about 4% to help their citizens cope with the increasing cost of living.
- AICPI, or the All-India Consumer Price Index IW, has yet to release the actual numbers for that month.
- But based on how prices have been going up lately, the government might decide to raise the dearness allowance by up to 4%.
- According to DA Hike News 2024, we’ll know for sure by July 31 how much the dearness allowance will increase for the second half of this year.
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Jack is a Senior Editor at IAHVB blog covering personal finance, work and careers amongst other topics. He graduated with a Double Degree in Finance and Business Administration, complemented with a Master in Business Administration (MBA).
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