AICPIN-IW (2016=100)FOR AUGUST 2024

[MOHAN P]

Dear Friends,

ALL INDIA CONSUMER PRICE INDEX NUMBER FOR INDUSTRIAL WORKERS (AICPIN-IW) 2016=100,FOR August’24.

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As per release made by Labour Bureau, Ministry of Labour and Employment,Govt. of India,today, the All India Consumer Price Index Numbers,for industrial workers,for August '24  (AICPIN-IW) 2016 = 100  stood at 142.6  points, with  a decrease of 0.1 point compared to July’'24 figure as follows:

Base year

               2016=1000.            1960=100*                   

 July’24.             142.7.             9380.89                      Aug'24              142.6              9374.32

As we know, currently we are drawing DR  based on index numbers for  the past quarter   w.e.f 1^st Aug’24 to 31^st Jan,25.

(*Currently applicable only to pensioners retired  upto 31^st Oct 2022.)

30.09.2024.

 

[nook raju]

Dear Mohan sir in DA for Aug 24,it is shown under star mark that 1960=100 DA is applicable for those who retired before 31.10.22 . Is it true? According to 1960=100, 7th BPS retirees should get around 22 percent increase in DA in Aug but actually increased only 5.52 percent, Is there any meaning for that Or any reason? 

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[R N Yadav]

Thanks

On Tue, 1 Oct, 2024, 16:19 MOHAN P, <moha...@gmail.com> wrote:

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[MOHAN P]

Dear Mr Nooka Raju,

You have found  raised a query as follows on my message on AICPIN(IW) 2016=100 for Aug'24.

01.“ in DA for Aug 24,it is shown under star mark that 1960=100 DA is applicable for those who retd before 31.10.22 . Is it true? “

In fact same Msg is not on DR but on CPI for Aug'24.Yes ,it is true..

Let me clarify as follows:

Under 12^th BPS/9^th Joint Note it was agreed between IBA-UFBU on Dearness Relief payable as follows:

35. Dearness Relief onPension (including State Bank of India)

“With effect from 1st November, 2022, in respect of employees who retired or died while in service on or after 1st November, 2022, Dearness Relief shall be payable at 1.00% per percentage point of Index on the Basic Pension or Family Pension or Invalid Pension or compassionate allowance as the case may be. Dearness Relief in the above manner shall be paid half yearly for every variation of rise or fall over 123.03 points in the quarterly average of the All India Consumer Price Index for Industrial Workers Base 2016=100.”

Therefore  the index series of 1960=100 is only applicable at present to pensioners retired up to 31.10.2022.Further the slab system existed hitherto ( 1slab for rise /fall of each four points) to above group is also changed as one percent for each one point rise.

02. “According to 1960=100, 7th BPS retirees should get around 22 percent increase in DA in Aug but actually increased only 5.52 percent, Is there any meaning for that Or any reason?”

Here it is to be understood that merger of  CPI 8088 points to Basic Pay /Pension  has taken place  under 12^th BPS/9^th J.N,to serving employees as well as to pensioners retired on or after 1.11.2022.Consequent upon which the Basic Pension of above group may notionally go up at higher level and there by rate of DR payable may naturally come down.

For eg:Existing rate of DR @ 451.92% to 7th BPS retirees may come down @  17.20% in uniform basis when CPI 8088 merger is extended to them also.

So please note that, your comparison on higher rate of DR  has no basis.

Hope I have made clear to you.

Regards

Mohan.P

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