Expected Dearness Allowance in 2024 Latest News Today
Latest News on Expected Dearness Allowance in 2024: The Union Government of India has recently released the latest information on the expected Dearness Allowance (DA) in 2024. The Ministry of Labour Department has published a new statistical report on the Consumer Price Index for Industrial Workers, which is a crucial factor in determining the DA for government employees and pensioners in India.
CPI (I-W) BY 2016 for Sep 2023
For the month of September 2023, the CPI (IW) Base Year 2016 index has been revised to 137.5, showing a decrease of 1.7 points from the previous figure of 139.2. This index represents the fluctuation in prices of essential commodities during that period.
The CPI (IW) index is vital in calculating both the Dearness Allowance (DA) and Dearness Relief (DR), following the formula recommended by the 7th Pay Commission. The Labour Bureau releases the index numbers for the upcoming month at the end of each month. However, it is necessary to gather data for six months to determine the exact percentage of DA starting from January 2024.
CPI (I-W) BY 2016 Chart 2023
How is CPI (IW) calculated in India?
The methodology for calculating the Consumer Price Index for Industrial Workers (CPI-IW) in India involves collecting price data for a selected set of commodities in urban areas across 88 selected centers on a monthly basis. This data is then used to compile Retail Price Indices for these commodities, with the base year set as 2016=100. The Labour Bureau is responsible for this compilation and provides the monthly indices to the Ministry of Consumer Affairs, Food & Public Distribution, Government of India. These indices are vital for monitoring the prices of essential commodities and enable timely intervention to regulate and control their prices.
Next CPI for October 2023
The indices are published on a monthly basis, with the Index of the preceding month being released on the final day of the current month. The forthcoming edition of CPI-IW for October 2023 will be made available on Thursday, November 30, 2023.
Jan 2023 DA Calculation Tool
Please utilize the provided online tool to calculate the Dearness Allowance (DA) for January 2024 based on your own estimations. Additionally, can you make a prediction regarding the All India Consumer Price Index (AICPIN) for September 2023? – Click to calculate Expected DA
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