BSNL IDA Rates from October 2023 Increased upto 5%

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New BSNL IDA Rates of employees valid from the 3nd quarter of 2023 – 2023 financial year starts from October 2023 may record a “formidable increase” again from 01.10.2023, after taking outstanding increments of PSU IDA from the starting of this previous financial year 2021-22.

News:- BSNL IDA Rates (Arrears) from 01.10.2020 to 30.06.2021 may paid to Non Executive employees of BSNL including industrial workers as per the fund availability vide order issued on 27.10.21 as 165.4% from 1.10.20, 171.7% from 01.1.21, and 170.5% from 01.04.21.

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 All India Consumer Price Index (IW) with the below said points.

1. It is based on the weighted average of prices for consumer goods and services.
2. For October to December (3st Quarter of the Financial year 2023-2023) of 2023. IDA calculation in the mean of specified months (June 2023, July 2023, August 2023) taken into consideration.
3. 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 records an increase of 0.57points for first month (June 2023), 2.016 for July 2023, and August price index numbers yet to be released.

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 expecting in huge. Also, this may record an increase upto 5% IDA from October 2023 which may reach upto 195.8% and above 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.

Confirmed BSNL IDA Rates

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 2nd quarter of Financial Year 2023-2023.

Expecting BSNL IDA Rates from 01.01.2023

Even if there is decrease in index number upto 2 points for Aug 22, BSNL IDA rates may records an increase in IDA up to 4.2%. Have a look at the above calculator table for expecting rates at different points.