Employees of the central government are expected to receive good news before Holi 2023. The dearness allowance (DA) is expected to rise by 4%. According to Zee Business, it is anticipated to be approved at the Union cabinet meeting in the first week of March.
The current Dearness Allowance for central government employees is 38%. According to predictions, the dearness allowance might rise by 4% in January 2023. This indicates that DA will rise from 38% to 42%. The enhanced DA for central staff will be paid in March pay beginning in January 2023.
The DA of government employees and the DR of pensioners are raised twice a year by the Centre. First in January, then again in July. The CPI(IW) statistic will remain at 132.3 until December 2022. According to the estimates, the dearness allowance will increase by more than 4%.
Updates on Fitment Factor Hike:
The government might decide to raise the fitting factor next month, according to media reports. If the government increases the fitment factor three times, the employee's basic salary, excluding perks, will be Rs. 46,260 X 2.57. Furthermore, if the employees' requests are fulfilled, the remuneration will be Rs 95,680 (26000 X 3.68). If the government accepts a three-times fitment factor, or Rs 21,000, the remuneration will be Rs 63,000.
Will the DA of Govt Employees Hike in March?
According to the recent media reports, government employees may get a 3% rise in Dearness Allowance (DA) as a result of rising inflation rates. The Union Cabinet approved the release of an additional installment of Dearness Allowance and Dearness Relief at 4% to Central Government employees and pensioners due on July 1, 2022, based on the percentage increase in the 12-month average of the All India Consumer Price Index for the period ending June 2022.
