The official said the interim budget estimates were based on projections for December 2023 and January 2024. Estimates will be higher in the full Budget as the dividend picture is now clearer. Let us know about the complete news.

The Finance Ministry is likely to increase the CPSE dividend estimate by Rs 5,000 crore to about Rs 53,000 crore for the current financial year 2024-25 in the full budget to be presented in July.

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What is the estimate?

The government has estimated dividend from non-financial central public sector enterprises (CPSEs) for the current financial year at Rs 48,000 crore in the interim Budget 2024-25. “The estimate may be increased to about Rs 5,000 crore in the full budget to be presented in July,” an official said.

The government raised this much money

The official said the interim budget estimates were based on projections for December 2023 and January 2024. Estimates will be higher in the full Budget, as the dividend picture is now clearer.

The government has received Rs 4,837.25 crore as dividend from CPSEs in the current financial year. Dividend receipts stood at Rs 63,000 crore in FY 2023-24, which was Rs 59,953 crore in FY 2022-23.

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Actually, the government has increased the Dearness Allowance (DA) of such employees. Let us tell you that in the month of October, the DA of central employees coming under the purview of the Seventh Pay Commission was increased.

How much DA increased: For the employees of Central Public Sector Enterprises (CPSEs) falling under the purview of the Sixth Pay Commission, dearness allowance on the basic salary has been increased from the existing 221% to 230%. This means that an increase of 9 percent has been made.

The revised rate of dearness allowance is effective from July 1, 2023. Similarly, the dearness allowance of the employees falling under the purview of the Fifth Pay Commission has also increased. There are two categories of employees whose allowances have increased. Employees who are not allowed the benefit of merger of 50% of DA with basic pay.

DA to those employees can be increased from the current rate of 462% to 477%. At the same time, the employees who have been given the benefit of merger of 50% of DA with the basic salary. The DA payable to such employees may be increased to 427% from the current rate of 412%. In this way, there has been a DA increase of 15 percent.

How much DA increased in October: According to the Seventh Central Pay Commission, in the month of October, dearness allowance and dearness relief for salaried central government employees and pensioners was increased from 42% to 46%. The revised rate is effective from July 1, 2023.

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On which employees will the increased DA apply?

According to the notification of the Department of Public Enterprises, the new increased rates of DA will be applicable to those executives of CPSEs who are on board level posts. The IDA pattern for below board level posts and also for non-united supervisors has been extended and modified from the 1992 pay scales. Here you can know about it-

When will the revised rates be applicable?

These revised rates will be applicable from 1 July 2023. The DA rate has been increased to 701.9 per cent on basic pay of Rs 3500 per month, which has been fixed at a minimum of Rs 15,428.

DA rates have been fixed at 526.4 per cent on basic pay above Rs 3500 and up to Rs 6500, which will be at least Rs 24,567.

At the same time, DA rate of 421.1 per cent has been applicable on basic pay above Rs 6500 and up to Rs 9500, which will be considered up to at least Rs 34,216.

Dearness allowance of 351.0 per cent will be applicable on basic pay above Rs 9500, which will be up to a minimum of Rs 40,005.

All the administrative departments and ministries of the Government of India have been instructed that this will be implemented for the officers of all CPSEs. Under this notification, this rule will be applicable for the administrative control of all CPSEs.

Dearness allowance increases from time to time

The thing to keep in mind is that the Central Government and the State Governments keep increasing the DA of their employees and pensioners from time to time so that they can compete with the rising inflation. Along with increasing the cost of living of its employees, the government keeps on increasing the dearness allowance of its employees.

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The Department of Public Enterprises (DPE), under the Ministry of Finance, has announced an increase in DA for officers and supervisors at the Board level or below positions in Central Public Sector Enterprises. Has been. This increase has been done on the basis of Industrial Dearness Allowance (IDA) on the 1992 pay scale.

In a circular issued on July 7, 2023, the Department of Public Enterprises (DPE) stated that the rate of dearness allowance payable to officers and non-unified supervisors at or below the board level of Central Public Sector Enterprises (CPSEs) has been revised to 39.2 being done. The new rate of Dearness Allowance (DA) will be applicable from 1 July 2023.

How much dearness allowance will be given on what basic salary?

• It has been said in the circular that from July 1, 2023, the dearness allowance rate will be 701.9 percent of the salary, which will be Rs 15,428, for employees with a basic salary of up to Rs 3,500 per month.
• Similarly, the dearness allowance rate for employees with basic pay between Rs 3,501 and Rs 6,500 per month will be 526.4 per cent of the pay, subject to a minimum of Rs 24,567.
• Whereas, the dearness allowance rate for employees with basic pay above Rs 6,500 and up to Rs 9,500 will be 421.1 per cent of the pay, subject to a minimum of Rs 34,216.

DA was expected to be 42 percent

The Central Government revises the DA Rates every year in the months of January and July. The Finance Ministry has increased the dearness allowance of Central Public Sector Enterprise employees to 39.2 percent, which was expected to be increased to 42 percent. Because, other central employees get dearness allowance at the rate of 42 per cent. At the same time, the Finance Ministry may soon announce an increase in the dearness allowance for July for other central employees.

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