DA Hike: The modified dearness allowance rates will be payable from July 1, 2023
The finance ministry’s public enterprises department (DPE) has modified the rates of dearness allowance (DA) payable to the executives of CPSEs holding board-level posts, below-board-level posts and non-unionised supervisors following the IDA pattern of 1992 pay scales.
The modified DA rates will be payable from July 1, 2023. According to an Office Memorandum of DPE dated July 7, the new DA rates are as follows:
Also Read– Wipro To Invest $1 Billion In Artificial Intelligence Over Next 3 Years
The payment on account of dearness allowance involving fractions of 50 paise and above may be rounded off to the next higher rupee and the fractions of less than 50 paise may be ignored, according to the notification.
“The quantum of IDA payable from O1.O7.2O23 at the old system of neutralisation @ Rs 2 per point shift for increase of 96 points, may be
Read More: Nokia G42 Smartphone With 90Hz Display And Android 13 Launched: Price, Specifications
Rs 192 and at AICPI 8813, DA payable may be Rs 16,215.75 to the executives
holding board level post, below Board level post and non-unionised supervisors following IDA pattern in the CPSEs of 1987 pay scales,” according to the memorandum.
According to the memorandum, average AICPI (1960=100| for the quarter March 2023 to May 2023 is 8,813. The increase over the link point in percentage [(8313-109)/ 1O99*1OO] is 7O1.9%. DA Rates for various Pay Ranges w.e.f. Ol.O7.2O23.
Read More: Asus Zenfone 10 With Gimbal Camera And Wireless Charging Launched: Price, Specifications
Dearness allowance (DA) is given to government employees, while dearness relief (DR) is for pensioners.
