New DA from Feb 2017 to April 2017 for Bank Employee is 46.90%

New DA from Feb 2017 to April 2017 for Bank Employee is 46.90%

Ads

DA Announced For February 2017, March 2017 and April 2017.

Today i.e. on 31.01.2017, Government announced Consumer Price Index (CPI) data for the month of December 2016. On the basis of CPI data announced by the Govt for the month of October 2016, November 2016 and December 2016, as tabled below, there is a decrease of 9 DA Slabs payable for the period of February 2017, March 2017 and April 2017 for all Bank Employees in 2017.

 On the basis of CPI data announced by the Government for the month of October 2016, November 2016 and December 2016, the Dearness Allowance payable to Bankers for February 2017, March 2017 and April 2017 is to be 46.9%. 
CPI for Oct 2016 was announced on 30th Nov 2016 and it was 6345.60.  

CPI for Nov 2016 was announced on 30th December 2016  and it was 6322.77.

CPI for December 2016 will be announced on 30th or 31st Jan 2017  and it may 6277.12.

Calculation of DA :- 
  1. October 2016 - 6345.60
  2. Nov 2016 - 6322.77
  3. Dec 2016 - 6277.12
Bank DA for Feb 2016, March 2016 and April 2017
  • Average CPI is (6345.60 + 6322.77 + 6277.12) / 3 = 18945.49/3 = 6315.16
  • Deduct 4440 slabs from average CPI (6315.16 - 4440) = 1875.16
  • Divide 1902.57 by 4 to convert to quarterly DA slabs (1875.16/4) = 468.79 or 469.
  • DA Slab for next Quarter will be 469.
  • Multiple 469 with 0.10%, is payable as DA = 469 x 0.10% = 46.90%
  • So DA Payable for for February 2017, March 2017 and April 2016 will be 46.90%.
  • Slabs for Feb 2017 - April 2017 = 469.  
  • Number of slabs for the Previous Quarter (Oct, Nov & Dec 2016) = 478 slabs 
  • Decrease in the slabs for the current quarter = (478 - 469) or (47.80% - 46.90%) = 9 slabs or 0.90%.

So, The tentative decrease in DA Slabs is 9 slabs for the month of February 2017, March 2017 and April 2017.

So, The Dearness Allowance (DA) payable to employees/Officers is 469 slabs for February 2017, March 2017 and April 2017 Quarter.

Expected DA for May, June and July 2017 will Update soon.