DA Hike Update: Hello friends, Central government employees have been hit for the third consecutive month as the All India Consumer Price Index for Industrial Workers (AICPI-IW) numbers have not been released. Scheduled to be released on May 31, the figures are still on hold.
The Labour Bureau has not released any data since January 2024, making it difficult to predict the expected dearness allowance (DA) hike in July 2024. Experts are confused by the decision, marking the first time in two decades that inflation data for industrial workers will not be increased in July. Find out in today’s article
Labour Bureau has no data
The Consumer Price Index for Industrial Workers (CPI-IW) data for February, March and April has not been released. Sources suggest that the delay is due to the non-availability of data for February and March. Now, the figures are expected to come by the end of June. Although the Labour Bureau lacks this data, it does not mean that there will be no increase in DA in July 2024. However, some adjustments may be required in the calculations.
Absence of February data
Normally, DA numbers, reflecting inflation adjustments for central government employees, are released on the last working day of each month. The data for January 2024 was released on February 28, but the figures for the subsequent February, March and April have not been released.
These numbers are crucial for determining DA increases for central government employees. In January 2024, the AICPI index stood at 138.9 points, resulting in a DA score of 50.84%, effectively reaching 51%. The upcoming data will clarify the DA increase for July 2024.
When will DA change? DA Hike
The next DA revision for central government employees is scheduled for July 2024. Currently, the DA score is 50.84%. Experts suggest that the next DA update may see a hike of 4%. Based on current trends, DA is already at 51%. Data for February, March, April, May and June will determine the extent of the next increment, potentially increasing DA from 51% to 54%.
The release and analysis of pending AICPI-IW data is critical for accurate projections and adjustments, ensuring that central government employees get appropriate DA increments that reflect current inflationary trends.
