Expected DA January 2024

The Labour Bureau under the Ministry of Labour & Employment has released the All-India CPI-IW for August 2023, which decreased by 0.5 points and stood at 139.2. This nominal decline comes after sharp rises in the last two months, which suggests that the DA hike for central government employees and pensioners in January 2024 is still likely to be a minimum of 4% taking the DA to 50%. There are chances that the DA from Jan 2024 will be 51% depending on the fur more months indices. 

The CPI-IW indices play a crucial role in determining the DA and DR, which are used to compensate government employees for the rising cost of living. With data from January to December 2023 set to influence the DA calculation from January 2024, the recent surges in CPI-IW figures suggest a potential 4% hike in DA. This would raise the total DA figure to 50%, a substantial boost in the financial benefits for government employees.

The sharp rise in the June and July 2023 index and minor decline in August, suggests that even if subsequent indices remain stagnant, the DA will still reach the 50% mark. 

Overall, the decline in the CPI-IW in August is a positive sign for government employees. However, it is important to wait for the full year’s data before making any definitive predictions about the DA hike for January 2024.

Central government employees can look forward to positive changes in the coming months, with the potential for a 4% Dearness Allowance increase and possible news about the formation of the Eighth Pay Commission.

As the general election draws near, government employees can stay tuned for updates on these developments and their potential impact on salaries and benefits.

The substantial increase in the CPI-IW for July 2023 is a sign of good things to come, and as the political and economic landscape continues to evolve, these changes promise to shape the future of government employee welfare and financial stability.

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Expected DA January 2024

GOVERNMENT OF INDIA
MINISTRY OF LABOUR & EMPLOYMENT
LABOUR BUREAU

Shram Bureau Bhawan, Block No. 2,
Institutional Area, Sector 38 (West),
Chandigarh – 160036

F.No. 5/1/2021- CPI

Dated: 29th September, 2023

Press Release

Consumer Price Index for Industrial Workers (2016=100) – August, 2023

The Labour Bureau, an attached office of the M/o Labour & Employment, has been compiling Consumer Price Index for Industrial Workers every month on the basis of retail prices collected from 317 markets spread over 88 industrially important centres in the country. The index is compiled for 88 centres and All-India and is released on the last working day of succeeding month. The index for the month of August, 2023 is being released in this press release.

The All-India CPI-[W for August, 2023 decreased by 0.5 points and stood at 139.2 (one hundred thirty nine point two). On 1-month percentage change, it decreased by 0.36 per cent with respect to previous month compared to increase of 0.23 per cent recorded between corresponding months a year ago.

The maximum downward pressure in current index came from Food & Beverages group contributing 0.71 percentage point to the total change. At item level, Wheat, Poultry/ Chicken, Eggs-hen, Cotton Seed Oil, Apple, Brinjal, Cauliflower, Chillies Green, Ginger, Lady’s Finger, Tomato, Electricity Domestic, Kerosene Oil, etc. are responsible for the fall in index. However, this decrease was checked by Rice, Arhar Dal, Onion, Cumin Seed/Jira, Cooked Meal, Tailoring Charges, Books School/ITI, Private Tutor/ Coaching Centre Fees, Tuition and other Fees-College and School/ITI, Stationery, etc. putting upward pressure on the index.

At centre level, Jaipur recorded a maximum decrease of 4.8 points. Among others, 3 centres recorded decrease between 3 to 3.9 points, 11 centres between 2 to 2.9 points, 13 centres between 1 to 1.9 points and 22 centres between 0.1 to 0.9 points. On the contrary, Cuttack recorded a maximum increase of 4.4 points followed by Jalandhar with 4.0 points and Dadra & Nagar Haveli and Kollam with 3.7 points each. Among others, 3 centres recorded increase between 2 to 2.9 points, 9 centres between 1 to 1.9 points and 18 centres between 0.1 to 0.9 points. Rest of 4 centres’ indices remained stationary.

Year-on-year inflation for the month stood at 6.91 per cent compared to 7.54 per cent for the previous month and 5.85 per cent during the corresponding month a year before. Similarly, Food inflation stood at 10.06 per cent against 11.87 per cent of the previous month and 6.46 per cent during the corresponding month a year ago.

The post 51% Expected DA/DR from Jan 2024 – AICPIN for the month of August 2023 appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.

Press release dated 31.08.2023 by Labour Bureau:-

GOVERNMENT OF INDIA
MINISTRY OF LABOUR & EMPLOYMENT
LABOUR BUREAU

Shram Bureau Bhawan, Block No. 2,
Institutional Area, Sector 38 (West),
Chandigarh – 160036
Dated: 31st August, 2023

F.No. 5/1/2021-CPI

Press Release

Consumer Price Index for Industrial Workers (2016=100) – July, 2023

The Labour Bureau, an attached office of the M/o Labour & Employment, has been compiling Consumer Price Index for Industrial Workers every month on the basis of retail prices collected from 317 markets spread over 88 industrially important centres in the country. The index is compiled for 88 centres and All-India and is released on the last working day of succeeding month. The index for the month of July, 2023 is being released in this press release.

The All-India CPI-IW for July, 2023 increased by 3.3 points and stood at 139.7 (one hundred thirty nine point seven). On 1-month percentage change, it increased by 2.42 per cent with respect to previous month compared to increase of 0.90 per cent recorded between corresponding months a year ago.

The maximum upward pressure in current index came from Food & Beverages group contributing 2.86 percentage points to the total change. At item level, Rice, Arhar Dal/ Tur Dal, Apple, Mango, Brinjal, Garlic, Ginger. Gourd(Lauki), Chilies Green, Potato, Onion, Tomato, Cumin seed/Jira, Supari, Saree Cotton, Shirt, T-shirt-readymade, School uniform, Leather Sandle, Chappal, Canvas Shoes, House rent, Auto-rickshaw/ Scooter fare, Repair/ Service Charges, Utensils, Medicine allopathic etc. are responsible for the rise in index. However, this increase was largely checked by Electricity (domestic) Charges, Kerosene oil, etc. putting downward pressure on the index.

At centre level, Gurugram recorded a maximum increase of 8.3 points. Among others, 3 centres recorded increase between 7 to 7.9 points, 4 centres between 6 to 6.9 points, 10 centres between 5 to 5.9 points, 15 centres between 4 to 4.9 points, 14 centres between 3 to 3.9 points, 25 centres between 2 to 2.9 points, 9 centres between 1 to 1.9 points and 4 centres between 0.1 to 0.9 points. On the contrary, Keonjhar recorded a decrease of 1.0 point. Rest of two centers index remained stationary.

Year-on-year inflation for the month stood at 7.54 per cent compared to 5.57 per cent for the previous month and 5.78 per cent during the corresponding month a year before. Similarly, Food inflation stood at 11.87 per cent against 6.00 per cent of the previous month and 5.96 per cent during the corresponding month a year ago.

Expected DA January 2024

As a record increase in the All-India CPI-IW for the month of July 2023, as published by the Labour Bureau on August 31, 2023, expected DA/DR from January 2024 is 50% or more.

The All-India CPI-IW reached by 3.3 points in July 2023 to reach 139.7 (one hundred thirty nine point seven), the highest increase in a new series since September 2020. With a score of 1.7% increase in the first month, this increase in CPI-IW opens the account of Expected DA/DR from January 2024 for Central Government Employees and Pensioners. The CPI-IW index for the remaining 5 months will provide the precise DA/DR figure for January 2024, and given the significant increase in CPI-IW for July 2023, the 50% or higher DA/DR starting in January 2024 is expected to be confirmed.

The DA/DR starting in July 2024 has also been confirmed to be 46% with an existing rate rise of 4%. According to custom, the Cabinet will approve the hike in September 2023. The Cabinet’s approval and the issue of a DoE OM in this regard are keenly awaited by the Central Government Employees and Pensioners.

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