7th Pay Commission Approves 4% DA Hike:SRINAGAR: a 4 percent Dearness Allowance (DA) and Dearness Relief (DR) increase for central government employees and pensioners on Wednesday, as per sources from India Today. It was anticipated that the Centre would sanction this increment following the Cabinet meeting.
This decision elevates the DA for central government employees from 42 percent to 46 percent. The approved DA hike will come into effect on July 1, 2023.
It is estimated to positively impact 47 lakh government employees and 68 lakh pensioners. As a result, central government employees will receive higher salaries from November onwards, along with arrears covering the period from July to October.
The impact of the 4 percent DA hike on salaries is as follows: For those with a minimum basic salary of Rs 18,000, the current 42 percent DA translates to an additional monthly income of Rs 7,560. With a 46 percent DA, their monthly salary will increase to Rs 8,280. Meanwhile, individuals with a maximum basic salary of Rs 56,900, who currently benefit from a 42 percent DA, currently receive Rs 23,898 as part of their monthly earnings. With a 46 percent DA, these individuals will witness their monthly earnings rising to Rs 26,174.source Kashmir life