7th Pay Commission Dearness Allowance Hike Latest News Today 2022: Here’s Why DA, DR Increase Won’t Be More Than 3%.
7th Wage Commission Dearness Allowance Hike Latest News: The need to review the interest rate and dearness relief increases for government employees and retirees does not arise because they are already being done on an inflation basis, according to the National Government.
On Tuesday, the Union government responded to several questions related to DA/DA, such as why the increase in the Dearness Allowance for central government employees has remained stable at 3%, when inflation was apparently high? Will the government consider giving DA/DR in line with prices?
According to the central government, the increase in DA and DR for central government employees is calculated based on inflation according to the All India Consumer Price Index for Industrial Workers.
In the past two quarters, average inflation has been around 5%.
Dearness Allowance (DA) and Dearness Relief (DR) for the central government employees and retirees, respectively, is calculated based on the inflation rate according to the All India Consumer Price Index for Industrial Workers (AICPI0IW), released by Labor Bureau, M/ o of Labor and Employment,” said Union Minister of Foreign Affairs at the Ministry of Finance, Pankaj Chaudhary, in a written response to questions about the DA and DR walk in the Rajya Sabha today (March 15, 2022).
When asked “whether the government would consider giving DA/DR in line with prices and not keep DA/DR at a static 3%, Chaudhary said the problem is not there” in view of the above.
Average retail inflation in the July-September quarter of last year was 5.08%. In the October-December 2021 quarter, the average inflation rate was 5.01%.
This post 7th Pay Commission Dearness Allowance Hike Latest News: Will DA Be More Than 3%?
was original published at “https://www.financialexpress.com/money/7th-pay-commission-dearness-allowance-hike-latest-news-will-da-be-more-than-3/2461757/”