Fwd: Shifting of base year from 1960 to 2016 for CPI from 12th settlement.

[subhasah kulkarni]

---------- Forwarded message ---------
From: subhasah kulkarni <subhash.k...@gmail.com>
Date: Tue, Jan 16, 2024, 08:05
Subject: Shifting of base year from 1960 to 2016 for CPI from 12th settlement.
To: <bankpe...@gmail.com>

Respected Mohan Sir, from this settlement base year for CPI shifted to 2016 from 1960 please explain us what will be effect on present DA? Whether it's beneficial? How to convert present DA to 2016 CPI level.Thanks & Regards.

[MOHAN P]

Dear Mr Kulkarni,

I have already explained on this point under an earlier post.

It is simple now.Hitherto Base year was 1960=100 for calculation of DR as per BEPR,1995.

Where as Labour Bureau was publishing AICPIN-IW with base year 2016=100 every month.

So in order to convert 2016 index number to base year 1960 we used to multiply the figure with 4.63,4.93and 2.88.

Here after we can take the AICPIN IW base 2016=100 figure,  as it is.ie.Nov index number is 139.1.

On merger of 8088 points( at 123.03 )notional increase in Basic Pension may takes place.

Now onwards, 1% of 'pay' per point for every variation of fall or rise over 123.03 points of India Working class Consumer Price Index Series 2016=100 will be taken for DR calculation.

There may not be much benefit or loss in this exercise.I have posted a detailed chart under this blog earlier. 

For example,

Suppose Dec index goes up to 139.6 ,increase in DR would be : 139.6-123.03=16.57

Percentage wise 16.57% 

Hope it is clear.

Regards,

Mohan.P

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[Ramani Konnayar]

Please clarify, if the December figure of CPI has to be taken or the average  of

the figures pertaining to Oct, Nov and Decr as has been the procedure so far. 

Thanks. 

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