ALL INDIA CONSUMER PRICE INDEX NUMBERS FOR INDUSTRIAL WORKERS (AICPIN-IW)-REVISED BASE YEAR 2016=100
PM
AICPIN(IW) Revised Base Year 2016=100 FOR THE MONTH OF SEPTEMBER 2020.( 43 Slabs increase for Bank staff)
Dear Friends,
As informed earlier the Base Year for AICPIN-IW from 2001=100 which we used to calculate DA payable to bank Staff /Pensioners has been revised by Govt to 2016=100
As per release made 0n 22nd Oct 20 by Hon. Minister,Ministry of Labour and Employment,the All India Consumer Price Index Numbers (AICPIN)for Industrial workers(IW) revised Base Year 2016=100 for the month of September 2020, stood at 118 points. The linking factor to arrive to Base year CPI 2001=100 is 2.88
Accordingly the average CPI for the quarter comes to 7713,as furnished here under:
|
MONTH |
2016=100 |
2001=100 |
1960=100 |
||
|
JULY'2020 |
XXX |
336 |
7669.5 |
||
|
AUG |
XXX |
338 |
7715.15 |
||
|
SEPT |
118 |
|
7757.15 |
||
Therefore the DA payable to workmen for Nov,Dec,Jan’21 shall have 43 slabs increase at 81.80%0 from the current level of 77.50%
Bank pensioners DA for next half year w.e.f Feb 2021 would be arrived based on (AICPIN-IW ) Base Year 2016-100 for Oct,Nov and Dec
Ramakrishna A
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Dilip Deshpande
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PM
Dear Mr Dilip Deshpande,
There are various aspect on this aspect.
At the outset let me clarify that on account of change in Base Year of All India Consumer Price Index for Industrial Workers (AICPIN-IW) From 2001=1000 to present 2016=100 ,there will not have any improvement in pension.
As you are aware any improvement in our Basic Pension, will only occur on account of Updation of Pension,only, regarding which demand all of us are discussing here for long time.
The current change relates to payment of DA,in our case which is now followed as per Pension Regulatio 37-which says “dearness relief shall be payable for every rise or be recoverable for every fall, as the case may be, of every 4 points over (specific merged) points in the quarterly average of the All India Average Consumer Price Index in the series of Base Year 1960=100”.
Since then the series (1982=100) had replaced the old (1960=100) series with the release of October, 1988 index. Thereafter, the ongoing series on base 2001=100 has replaced the earlier (1982=100) series in 2006.
Hitherto we have been following increase/decrease of DA payable to us,based on half yearly index numbers-AICPIN-IW Base 2001=100 published by Labour Bureau,GOI published monthly. Now we are are converting the same figure to arrive index number of 1960=100 with multiplication of linking factors. (4.63, & 4.93)
Change in base year certainly may have impact on DA payable on our basic pension, depending upon the future increase under AICPIN-IW with base year 2016=100. In fact this was already happening under earlier CPI with Base Year 2001=100 also so far. One more linking factor too come here (ie: 2.88.)
If you examine, the DA so far received on our Basic Pension, it can be noticed that during the past one decade alone same has gone with three fold increase ( in general) taking the over all pension received to double the amount.In the absence of uniform DA and updation of pension this has given some relief to pensioners.Yes, other way,erosion of value of real money too affected due to inflationary trend.
Coming to the need for change in base year, from 2001 to 2016,as per Govt,the main objective of the exercise is to bring out the new series of All-India and individual centre-wise Consumer Price Indices for Industrial Workers based on the latest consumption pattern of the target population, industrial workers in instant case. As per committee reports,base year updation at a gap not exceeding 10 years has to be done,to correlate with latest data.
Under the latest series, the number of States/UTs have been increased from earlier 25 to 28. The coverage of centres has been increased from earlier 78 centres to 88 centres across the country. Out of these 88 centres, 65 centres are common and 23 are new centres. The coverage of markets has also been increased from earlier 289 markets under old series to 317 markets across the country.
We can only expect that this current change should reflect exact position of inflation to compensate employees accurately in tune with the same.
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