: Less than 15 days are left for the presentation of Union Budget 2023-24. Meanwhile, like every time, the employees and farmers are expecting something positive from this budget. In this situation, according to some media reports, this time Finance Minister Nirmala Sitharaman is expected to increase the fitment factor of central employees in the budget.
Although, no information has yet come out clearly in this context, it has been confirmed that the increase in DA (Dearness Allowance) of central employees will be announced in March. Also, this announcement can be made before Holi as well. In this case, one crore central employees and pensioners will get the benefit of this DA hike.
Now how much DA will increase: In this context, let us inform you that the announcement regarding Dearness Allowance for the month of March will be applicable from January 1. December AICPI index data coming in late January will make it clear at what rate DA may rise this time. Meanwhile, based on the July 2022 hike, central employees are now getting 38 per cent dearness allowance. It is estimated to increase to 41 percent in the coming years.
Big relief news for employees: According to experts, DA is expected to be increased by at least 3 percent this time. Which is a big relief news for the employees. For example, if an employee’s basic salary is now Rs 25,000, then according to this 3 percent increase, his salary will increase by Rs 750 per month. Meanwhile, his gross salary will increase by Rs 9,000 on an annual basis.
Besides, the salary of Cabinet Secretary level officials is estimated to increase by Rs 7,500 per month or Rs 90,000 annually. It is pertinent to note that the employees are given dear allowances to improve their standard of living. which is determined on the basis of the basic pay of the employee concerned.