7th Pay Commission latest news: It is July and lakhs of central government employees are eagerly awaiting the next round of DA hike announcement. If recent reports are to be believed, central employees and pensioners are in for a significant rise in payout as the figure for this time’s revision is being put at 5 percent.
The All-India Consumer Price Index, which determines the figure for DA and Dearness Relief (DR) hikes, for May indicates a higher-than-expected increase. Some reports have also suggested a 6 percent hike may be on the cards.
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A 6 percent hike would take the DA figure for central government employees under the 7th Pay Commission to 40 percent. Reports suggest that the announcement could be made by the end of the month around July 31. However, there has been no official confirmation in this regard.
Central government employees are given DA hikes twice every year to counter the effects of rising cost of living. While the first DA hike of the year comes in January, the other comes in July.
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The AICPI for April 2022 stood at 127.7 and climbed to 129 as per the figures of May. This has fueled speculation around a 6 percent hike in DA. Earlier this year, a DA hike of 3 percent had taken the figure to 34 percent from 31 percent.
