Expected DA for Bankers May Increase Above 7% for Nov 2018 to Jan 2019

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In this post we will be discussing the Expected DA for Bankers. It is a great news for 1 million bankers of India that DA (Dearness Allowance) may see a huge hike for the months November-18, December-18 & January-19.

The consumer price index (CPI) of the month July 2018 was announced on 31st Aug 2018 and the CPI was 301 where as the CPI of June 2018 was 291 . So we can see that  CPI has seen an increase of 10 points from June 2018.

Now if we assume the CPI of Aug 2018 be 301 & September 2018 be 301 also, taking conservative values, and calculate the DA for the period from November 2018 to January 2019, we will get a huge hike compared to previous DA for bankers.

Expected DA for Bankers May Increase Above 7% for Nov 2018 to Jan 2019

Expected DA for Bankers May Increase Above 7% for Nov 2018 to Jan 2019

How to calculate Expected DA for Bankers:

 

Now without wasting any time further lets have a look how DA for bankers will be calculated for the aforementioned period.

We have, CPI for July 2018 = 301

CPI for August 2018= 301 (Assumption, will be declared on 30th September 2018)

CPI for September 2018 = 301 (Assumption, will be declared on 31st October 2018)

So we get total for 3 months= 903

Then, DA= {(903*4.63*4.93) – (4440*3)}  /  (12*10)

= (20611.7877    –   13320)  /   120

= 7291.7877   /   120

= 60.7648975

= 60.8 (rounded off)

So, if the CPI for August and September 2018 do not change then the DA will be 60.8% and since DA for Aug 2018- Oct 2018 was 54.1% which shows a hike of DA of 6.7% at  least bankers can expect.

Now we will show some more probable calculations regarding DA

1) CPI of July  =  301,  CPI of Aug  =  302  (assume), CPI of Sep =303 (assume)

then, DA=61.3%  (increase over 7.2%, since previous DA was 54.1%)

 

2) CPI of July =  301, CPI of Aug =  303 (assume), CPI of Sep  =  305 (assume)

then, DA  =  61.9%  (increase over 7.8%, since previous DA was 54.1%)

 

3) CPI of July  =  301,  CPI of Aug =  300  (assume), CPI of Sep  =  299  (assume)

then, DA=60.2%   (increase over 6.1%, since previous DA was 54.1%)

 

4) CPI of July =301, CPI of Aug= 299( assume), CPI of Sep  = 297  (assume)

then, DA=59.6% (increase over 5.5%, since previous DA was 54.1%)

 

Here is a link of an excel sheet, download and you can put your values and calculate Expected DA for Bankers as you want.

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