New BSNL IDA Rates of employees valid from the 3rd quarter of 2023 – 2024 financial year starts from October 2023 records an “Astonishing growth” from 01.10.2023, after taking outstanding increments of PSU IDA from the starting of this previous financial year 2023-24.
It is the new rate of financial increase/decrease for all executive and nonexecutive BSNL employees from 01.10.2023 in the PSU, and it is a compensatory allowance from the Central Government for not being able to contain prices.
All these additional IDA given is taxed as per the slabs of Income Tax, As we said earlier about BSNL IDA calculation, but remains again this, where the Industrial Dearness Allowance (IDA) Rates calculates on AICPIN (All India Consumer Price Index (IW)) with the below said points.
- It is based on the weighted average of prices for consumer goods and services.
- For October to December (3rd Quarter of the Financial year 2023-2024) of 2023. IDA calculation in the mean of specified months (June 2023, July 2023, August 2023) taken into consideration.
- It decides as per the price index numbers issued by the Department of Labour Bureau of India. It is also after taking price changes for each item in the predetermined basket of goods of the above months.
Now, as per All India Consumer Price Index Numbers for Industrial Workers CPI(IW) issued by the Department of Labour Bureau, CPI may record an increase of 4.896 points for the first month (June 2023), where July with +9.5, and August 2023 with -1.44 price index numbers.
IDA Rates from October 2023
Based on this average of three months Consumer Price Index Numbers for Industrial Workers CPI(IW), BSNL IDA rates of employees and pensioners increased again as expected in huge numbers.
Also, this record an expected increase up to 9.99 IDA from October 2023 which reaches upto 215.6% + as total IDA for an employee.
Based on these, CPI index points, let’s have a look at the confirmed IDA rates for PSU employees and pensioners from starting of the 2nd PRC.
Department of Public Enterprises will issue the orders for the increase in dearness allowance. Accordingly, PSU releases new instructions after 01.10.2023 to all BSNL circles for new increase of BSNL IDA rates from 01.10.2023.
So, with this new CPI Index numbers, BSNL employees and pensioners will get new IDA rates from the 3nd quarter of Financial Year 2023-2024.
Expecting BSNL IDA Rates from 01.01.2024
|Month||CPI Numbers||Status||% of Increase Expecting from 01.10.2023|
Even if there is decrease in index number upto 4 points for August 2023, BSNL IDA rates may records an increase in IDA above up to 9.4%. Have a look at the above calculator table for expecting rates at different points.