DA Hike: In the budget to be presented in February, two announcements can be made by the government for the central employees. Before this, the dearness allowance figure (AICPI Index) will come on January 31. From this, it will be clear how much will be the increase in the dearness allowance of the employees this time. Let's know about it in detail.
The new year i.e. 2023 is going to be special for central employees. From the beginning of this year i.e. from January 1, the employees will get the benefit of increased Dearness Allowance.
In the budget to be presented on February 1, two announcements can be made by the government for the central employees. Before this, the dearness allowance figure (AICPI Index) will come on January 31. From this, it will be clear how much will be the increase in the dearness allowance of the employees this time.
The second announcement may be heavy on the pocket
Apart from this, two announcements are expected to be made for the employees in the budget. Employees are expected to get relief from the first announcement. At the same time, the second announcement can be heavy on the pocket. Both announcements can be made for central employees and pensioners.
This time the salary revision of the central employees will be done through the fitment factor in the next pay commission. The government believes that there is no need for the next Pay Commission after the Seventh Pay Commission.
Salary should increase every year
The salary of government employees should be increased every year instead of every 10 years. With this, the employees working at the lower level will get a chance to get a salary equal to the officers sitting in the higher position.
Less than a year is left for the formation of the new Pay Commission. According to sources, before this, the government can introduce a new formula to revise the salary of the employees and it can also be included in the budget.
What will be the new formula to increase salary?
At present, a Pay Commission is constituted for central employees every 10 years. In 2014, the Seventh Pay Commission was constituted.
In this, the salary of the employees was changed by increasing the basic salary based on the fitment factor. Only the higher level employees benefited from this. The lower-level employees did not benefit as expected. In such a situation, it is expected that the government can focus on the formula given by the late former Finance Minister Arun Jaitley.
Second big announcement for employees in the budget
The second big announcement in the budget for central employees can be regarding House Building Allowance (HBA). At present, the interest rate of the money being given by the government as an advance for building or repairing a house is 7.1%. Now the employee can take advance up to 25 lakhs, now this amount is expected to be increased to 30 lakhs. Also, the interest rate can be increased from 7.1% to 7.5%.
Dearness allowance is also expected to be increased in the cabinet meeting to be held in March after the budget. This time dearness allowance is expected to be increased by 3 percent to 41 percent. However, this increase will be implemented from January 1 only.
