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Before Holi, the country’s government employees are going to get big good news. According to media reports, the Modi government may increase the inflation allowance by 4 per cent. Central Government Employees.
The government may increase the inflation relief allowance
According to media reports, after the announcement of the All India Consumer Price Index and the introduction of the Union Budget 2021 in Parliament, the inflation allowance has gone up by 4 per cent. According to sources, the government may increase dearness relief by 4 per cent. Also can pay other outstanding allowance.
The recommendation of the 7th Pay Commission will be implemented
The government’s announcement on DA hike will be based on the recommendation of the 7th Pay Commission. Currently the central employee gets a DA of 17 per cent. That’s 4% of DA and an increase in total DA.
The state can run on the formula of the center
According to the report, freezing the DA and DR installments for central government employees and pensioners will bring the combined savings to Rs 37,530 crore this financial year. These savings are also being made in the year before that. Let me tell you that state governments can generally comply with the Centre’s order on DA and DR. It is estimated that the state government can also save Rs 82,566 by suspending the DA-DR of employees and pensioners adopting this formula of the Center
7th Pay Commission: The long awaited good news from central employees has finally arrived. The inflation allowance of central employees is going to increase from July 1. Employees’ inflation allowance will go straight to 28 per cent. This additional benefit will also be seen in their salary. The good news for employees is that they will also be paid their three installments. Central employees currently get an inflation allowance of 17 per cent, which will now go up from 11 per cent to 28 per cent.
.Employees will get the benefit of two years inflation allowance (DA) at the same time. Because the inflation allowance of central employees increased by 4% in January 2020, then increased by 3% for the second time in June 2020, now in January 2021 the inflation allowance has increased again by 4%. That is 28 per cent of the total. However, all three installments have not yet been paid.Notably, at present the minimum salary of central employees as per pay-matrix is Rs. 18000. It is expected to add 15 per cent inflation allowance. This will directly increase the salary by Rs 2700 per month. On an annual basis, the total inflation allowance will increase by Rs 32,400.
The inflation allowance is to be announced in June 2021. Even then, it is projected to grow by 4 per cent, according to sources. If this happens, the 4 per cent payment will be made in the next 6 months after the payment in three parts on July 1. The inflation allowance could reach 32 per cent of the total. Currently DA is found at 17 per cent. The Central Government revises it every six months. It is calculated on the basis of Basic Pena. Currently employees and pensioners get different DAs.
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First of all, it is important to understand that an investor does not have to invest in any mutual fund by looking at its name (of the mutual fund). There are many mutual funds with the same goal. Most of the time investors are falling behind the name. As the name is known or the brand is big, it is not necessary that every scheme is successful every time. The name of the Unit Trust of India (UTI) was once considered too big, but then when the controversy came out at some point, everyone ran away from UTI.
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If you have to invest in terms of tax savings, Mutual Fund also offers a tax saving scheme. Thus, if you invest in a mutual fund based on your target, the mutual fund gives you a lot of choices and options. Where to get Mutual Fund information? Mutual fund details are usually published in financial newspapers and magazines on a regular basis. But in today’s online age, all kinds of information about Mutual Funds are available on various websites.
Corona caused the government to freeze the inflation allowance from 1 January 2020 to 1 July 2021 last year. The amount of dearness relief (DR) for pensioners will not increase till July 1, 2021. This decision has saved the government a total of Rs 37,000 crore in the financial year 2021-22. However, central employees are demanding that the arrears be paid after January 1. But the central government has clarified that the arrears will not be paid. The decision regarding DA and DR in July 2021 will be implemented one by one.