DA Hike Updates: CG employees have something to cheer about as the long-awaited declaration over DA for them is likely to be in. The month of September is likely to bring good news as the government is likely to declare an increment in DA w.e.f. July 2024. It is worth mentioning here that this development assumes much significance for employees drawing salaries under the 7th Pay Commission.
Expected 3% DA Hike in September
DA of central employees is determined with the help of the All India Consumer Price Index (AICPI). It reflects the cost of living and the trend of inflation. The AICPI index, starting from January 2024 and continuing up to June 2024, has consecutively gone upwards, which provides an indication that the DA will increase. However, the government has not announced it yet.
It is being learnt that the government may grant 3 percent DA hike this time, taking the DA from present 50 percent to 53 percent. The compensation will be in tune with the figures recorded by AICPI index, touching 53.36 percent as of June 2024. However, the tradition is that the government rounds off the percentage for DA, which is the reason the expected hike will be limited to 53 percent only discarding the decimal points.
AICPI Index Figures From January 2024 to June 2024
- January 2024: Index Figure – 138.9 points, DA – 50.84%
- February 2024: Index Figure – 139.2 points, DA – 51.44%
- March 2024: Index Figure – 138.9 points, DA – 51.95%
- April 2024: Index Figure – 139.4 points, DA – 52.43%
- May 2024: Index Figure – 139.9 points, DA – 52.91%
- June 2024: Index Figure – 141.4 points, DA – 53.36%
The official declaration on this matter is supposed to take place during the cabinet meeting on September 25, 2024. Once passed, the hike would bring a cheering development to the incomes of central government employees, helping them deal with rising living costs and inflation.
