Government News: Central government employees receive Dearness Allowance to cushion the blow of inflation on their buying power. This allowance is determined based on the Consumer Price Index for Industrial Workers (CPI-IW), a metric published by the Labor Bureau that indicates shifts in the costs of basic consumer items and services.
It’s important to remember that the Labor Bureau has not yet issued the CPI-IW data for February, March, and April 2024. This makes it difficult to predict the Dearness Allowance that central government employees will receive in July 2024. However, sources indicate that there could be a delay in this regard due to the absence of data for February and March.
There are speculations that central government employees may not receive any salary in July 2024. Nevertheless, the government has dismissed these rumors as unfounded. According to existing norms, the deduction exceeds 50 percent. In 2016, the Dearness Allowance was merged into the basic salary upon reaching the age of 20.
Cost premium likely to increase in July 2024
As per information provided by a media spokesperson, there is an anticipation of a 4 percent rise in July 2024. At present, the cost premium is at 50.84 percent. Nonetheless, analyzing the data from February to June indicates that the real increase in the total cost premium will be 54 percent.
