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The Cabinet approves a 4% increase in Dearness Allowance (DA) for our central government employees. This decision brings relief to all of people who have been waiting for this DA hike since July. With this raise, the dearness allowance climbs from the existing 42% to 46%, and we couldn’t be happier about it.
We’re all eagerly waiting for the official announcement by the government today, which will make this welcome decision all the more real. This comes as great news for central government employees and pensioners nationwide.
What Determines Dearness Allowance: The CPI-IW
You might be wondering how they calculate the dearness allowance. Well, it’s based on the latest Consumer Price Index for Industrial Workers (CPI-IW), which the Labor Bureau releases every month.
Diwali Bonuses: More Good News
That’s not all. In addition to the DA hike, the government has also given its go-ahead for Diwali bonuses. This is for Group C and non-gazetted Group B level officials, including paramilitary forces. As for the fiscal year 2022-2023, the Finance Ministry has set a limit of ₹7,000 for calculating these non-productivity linked bonuses (ad hoc bonuses).
A Festive Boost: Non-Productivity Linked Bonus by Cabinet approves
And there’s more. The Department of Expenditure under the Finance Ministry has announced the grant of a non-productivity linked bonus (ad-hoc bonus). It’s equivalent to 30 days of emoluments for the accounting year 2022-23. This is aimed at benefiting central government employees in Group ‘C’ and all non-gazetted employees in Group B. These are the folks who aren’t covered by any productivity-linked bonus scheme. This bonus is a welcome addition, especially as we gear up to celebrate Diwali.
In summary, this decision by the government is more than just numbers on paper; it’s a positive step toward improving the financial well-being of our central government employees and pensioners. With these developments, we can look forward to a more joyful Diwali season.
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