Bank D.A. for May/June/July 2014 : Decrease of 17 slabs. BySri Debashis Das
BANK WORKMEN/OFFICERS DA FOR MAY – JULY QTR, DECLINE BY 17 SLABS).
AICPIN(IW),Base year 2001=100 for the month of March’14,has been released by Ministry of Labour and Employment today which stood at 239 points with an increase of 1 point while compared to figure of February.
Accordingly the confirmed All India Average consumer Price Index Numbers for Industrial Workers(Base 1960=100) for the quarter ended March ’14 are as furnished here under:-
Months>>>>> Base 2000=100>>> Base 1960=100
___________ _____________ _______________
January’14>>>>> 237 >>>>>>>>>>> 5409.74
February >>>>>> 238 >>>>>>>>>> 5432.56
March >>>>>>> 239 >>>>>>>>>>> 5455.39
Average:>>>>>>>>>>>>>>>>>>>>> 5432
As such the DA payable for Bank Workmen/Officers for the months of May,June and July’14 would be for 649 slabs at 97.35% with a decrease of 2.55% from existing DA rate of 99.90%.(ie: 17 slabs decrease.)
The downward fall of average AICPIN is the first time after year 2006.
For official confirmation please wait for IBA circular.
Details for information:
Average Index :>>>>>>>>>>>>>>>>>>> 5432
Less Merged points in 9th BPS:>>>>>>> 2836
REST:>>>>>>>>>>>>>>>>>>>>>>>>> 2596
Slabs:>>>>>>>>>>>>>>>>>> >>>>>> 649
DECREASE:-(666-649) >>>>>>>>>>> 17 slabs
Rate of DA :>>>>>>>>>>>>> 97.35% [May--July]
Dearness Allowance (D.A.) slashed by 16 slabs
=2.40% for the quarter May, June & July'14
.
Now total slabs will be 650 ( 666-16) =97.50% D.A
.(@0.15% per slab as per IXth Bi-Partite Settlement)
TAHIR ALI
N.C.B.E.
One good news.
The AICPI-IW (2001=100) for March, 2014 is expected to touch 242 points and accordingly, the revised D.A. for the next quarter commencing from 01-05-2014 will be at 98.10%. Thus, the fall in D.A. will be only 1.80% and not 2.85% as feared earlier.
I am sorry to inform you that my original forecast only came true. The index for March, 2014 stood at 239 points and the average index for the quarter ended March, 2014 is 238 points. Accordingly, the D.A. payable for the 3 month period from May to July, 2014 is 97.35%. This is 2.55% lower than the existing D.A. of 99.90%.
ReplyDeleteI am really bewildered and disappointed to note that AICPI-IW (2001=100) for March, 2014 was only 6.70% (down from 6.73% in February, 2014).
ReplyDeleteI relied upon these news items and hoped that the AICPI will record more than 8% (y-o-y basis), but my calculations and expectations were belied.
1. http://www.thehindu.com/business/Economy/inflation-pressures-continue-to-remain-elevated/article5914771.ece
2. http://economictimes.indiatimes.com/news/economy/indicators/march-cpi-inflation-quickens-to-8-31-per-cent/articleshow/33783450.cms
3. http://zeenews.india.com/business/news/economy/retail-wholesale-inflation-rises-in-march-dashes-hopes-for-rate-cut_97902.html
4. http://www.moneycontrol.com/news_html_files/broker_report/2014/Apr-160414-54160414.pdf
5. http://www.focus-economics.com/en/economy/charts/India/Inflation
6. http://currentaffairs-businessnews.com/tag/inflation/
How can there be such a wide variance (6.70% Vs 8.31%)?