7th Pay Commission Latest News Update: Festival season is here and the Central Government employees are about to get a DA hike as per 7th pay commission latest news. From the sources it is leaked out that hike is going to be 4%. Meanwhile state governments are declaring 3 to 6 percent DA hike in their respectives states.
Meanwhile, the Government has also revised minimum qualifying service rules for promotioin of the central government employees. This step is just an implementation of the already existing recommendation of the 7th pay commission. The Department of Personnel and Training (DoPT) has issued a notice effecting the same. This notification gives clarity on the number of years that an employee need before they can move on to the next pay level.
According to 7th pay commission latest news reports, cabinet meeting has met and decided on the percentage of DA hike that is offered. Dearness Allowance is offered two times a year to the central government employees. The percentage is based on the Consumer Price Index. Or in other words, based on the inflation rate in the previous two quarters.
The Wholesale Price Index (WPI) has risen to 15%, but the government will not be considering the WPI for DA / DR calculation.
In the previous hike, the Central government had increased the DA by 3%. That is, at present the DA given to central government employees is 34% of the base salary. The DA hike will be made effective from July 2022. The employees will receive arrears for months from July itself.
The country has been seeing the actual inflation rate above the inflation target set by RBI. RBI’s target was set at 2-6 percent. But the retail inflation saw a rise to 7.1%. The Central Government under PM Narendra Modi would like to provide relief to the employees at par with the inflation rates.
However, formal announcement is not made yet.
All India Consumer Price Index is the deciding factor in the calculation of DA. Media reports release in this regard indicate that the central government employees will at least get 4 percent DA hike. As a result of this hike, the total DA can be 38 percent.
DA is expected to be raised for armed forces including Army, Airforce and Navy in the same line as for other central government employees. That is, it will increase to 38 percent.
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It is also expected that the government may increase the fitment factor in the 7th pay commission salary matrix. If that happens, the central government employees will have a festival bonanza.
The central government employees have been receiving salary at 2.57 fitment factor. They are asking for 3.68 fitment factor for the salary calculation. Fitment factor was expected to be raised at the beginning of the financial year 2022-23 itself. But it is not yet declared.
If the salary is increased by 4 percent, then for a person of Basic Salary of 70,000 it will increase by 2800 rupees. The employee in the same basic will get 33,600 rupees extra per year.
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