Expected DA/DR from Jan, 2024 – 50% or more as record increase in All-India CPI-IW for July, 2023

Expected DA/DR from Jan, 2024 – 50% or more as record increase in All-India CPI-IW for the month of July, 2023 issued by Labour Bureau on 31.08.2023

The All-India CPI-IW for July, 2023 increased by 3.3 points and stood at 139.7 (one hundred thirty nine point seven), which is the most so far increase in new series since Sep, 2020. This increase in CPI-IW is opening the account of Expected DA/DR from Jan, 2024 i.r.o. Central Govt Employees and Pensioners with score of 1.7% increase in 1st month.  Rest of 5 months’ CPI-IW index will give the exact figure of DA/DR of Jan, 2024 and with huge increase in CPI-IW for Jul, 2023 the 50% or more DA/DR w.e.f. Jan, 2024 is likely to be confirmed.

The DA/DR from Jul, 2024 has also confirmed to be 46% with 4 percent increase in existing rate.  As per prevailing practice this increase will be approved by Cabinet in this month of Sep, 2023.  The Central Govt. Employees and Pensioners are eagerly waiting for Cabinet Approval and issuance of DoE OM in this regard.

The DA/DR from Jan, 2024 table is as follows:-

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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.