Dearness Allowance hike July 2023: DA rates modified for CPSE employees. Full details here

financialexpress.com:

Dearness Allowance Hike latest News (July 10, 2023): The Department of Public Enterprises (DPE) under the Ministry of Finance has modified the rates of Dearness Allowance (DA) payable to the executives of CPSEs holding Board level posts, below Board level posts and Non-Unionized Supervisors following the IDA pattern of 1992 pay scales.

The modified DA rates will be payable from July 1, 2023. According to an Office Memorandum of DPE dated July 7, the new DA rates are as follows:

The instalment of DA to CPSE employees becomes payable from 1st January, 1st April, 1st July and 1st October every year based on the price increase above the quarterly Index average of 1099 (1960=100). The DPE said Average AICPI (1960=100) for the quarter March 2023 to May 2023 is 8813. The increase over the link point in percentage [(8313-1099)/1099*100] is 701.9%.

“The quantum of IDA payable from 01.07.2O23 at the old system of neutralization @ Rs.2.00 per point shift for increase of 96 points, may be Rs.192/- and at AICPI 8813, DA payable may be Rs. 16215.75 to the executives holding Board level post, below Board level post and non-unionized supervisors following IDA pattern in the CPSEs of 1987 pay scales,” the DPE said.

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1. Under new DA Scheme at Annexure-Ill of DPE’s OM dated 25.06.1999, wherein the rates of DA payable to the Board level and below Board level executives and non-unionized supervisors of CPSEs have been indicated, the rate of DA payable will be 416% from 01.07.2023 to the executives and non-unionized supervisors of CPSEs.

The above rates of DA i.e.416% would be applicable in the case of IDA employees who have been allowed revised pay scales