Expected DA January 2024
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.
Leave a Reply