7th Pay Commission Latest news 2016
7th Pay Commission Latest news 2016 | hike in DA | Allounces | ARREARS CALCULATOR
- Centre is likely to hike dearness allowance (DA) 2 per cent.
- Centre is likely to hike House Rent allowance (HRA) 120 per cent.
Centre likely to hike DA before Festive Season – Union Finance Minister Arun Jaitley is expected to move the proposal of hike in DA on the basis of accepted formula for calculation under the 7th Pay Commission recommendation.
- The committee is likely to purpose more than double House Rent Allowance (HRA).
- With the increases ranging between 106% and 122% for all categories of employees.
- The existing rates of HRA for these cities and towns were 30%, 20% and 10% of Basic pay (pay in the pay band plus grade pay) respectively.
- 7th pay commission allowance – Ahead of festive season the Centre is likely to hike dearness allowance (DA) by 2 per cent.
- It will benefit over 10 million central government employees and pensioners, a top Finance Ministry’s official indicated.
- The 7th Pay Commission recommended the merging of 125 percent dearness allowance into the basic pay.
- Finance Minister Arun Jaitley is expected to move the proposal of hike in DA.
- Its based on the basis of accepted formula for calculation.
- The Central government is likely to hike dearness allowance (DA) by 2 per cent, based on the data of the Consumer Price Index- Industrial Workers ( CPI-IW).
7th Pay Commission ARREARS CALCULATOR
A Finance Ministry official working on the implementation of the 7th Pay Commission recommendations reportedly quoted.
- “Average rate of Consumer Price Index-Industrial Labour from July 2015 to June, 2016 was 2.90 per cent. Thus, the Centre will increase dearness allowance by two as per accepted formula for calculation,”
- “The proposed hike in DA is in accordance with the accepted formula based on the recommendations of the 6th Pay Commission as the 7th Pay Commission recommended to go for ditto in this regard,”
7th Pay Commission Latest news 2016 | hike in DA | Allounces
- Unlike the 6th Pay commission, which had recommended the basic pay based on the Consumer Price Index 115.76 in January 2006.
- 7th Pay commission recommended new pay matrix, based on the Consumer Price Index 261.42.
- The government will use the data of CPI-IW from July 1, 2015 to June 30, 2016.
- The CPI (IW) of the months July, August, September, October, November, December, January, February, March, April, May and June were. 263, 264, 266, 269, 270, 269, 269, 267, 268, 271, 275 and 277 also respectively.
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