This is great news for the central government employees. There will be an increase in the dearness under the 8th Pay Commission, which will actually help the employees a lot financially. The salary of the employees is more balanced now and will reduce the impact of inflation.
The government is going to give this special gift to its employees during holidays. Actually, this gift will be more than that will be given to them in the second half of the year, from July to December. Many of the states have given little extra money to their workers, but it is applicable only for the first half of the year and not for the second.
They are getting 42 percent more
Some state governments in India like Madhya Pradesh, Sikkim, Odisha, Karnataka, Jharkhand, and Himachal Pradesh have paid this extra money to their employees. This extra money is called dearness allowance and increment of 4 percent has been granted. Previously, these workers were drawing 38 percent more now they are getting 42 percent more. The central government has also announced that they will give their employees more money during March.
DA formula calculation
Government might state its intention to provide an additional salary hike to employees during such special times. It is to be remembered by the employees that they will get 4 more percent from 1st July 2024. Last time, they gave 4 percent more in March 2023, thus a total of 42 percent extra.
The DA formula calculation is like a secret recipe by which one can bake a number. It tells him how much he is going to receive in addition to his regular salary. It serves like a puzzle to help him solve the mystery of extra money.
Instead of the general population, these extra funds are given to those with special allowances, pensions, and so on. These allowances are considered judiciously, depending on how much prices have gone up over the past year.
