How IDA increase is calculated?
We have been reporting the increase in IDA every three months, always before official announcement is made.
We have not been making predictions or assumptions. Our reporting has always been based on standard calculation used for the purpose. We feel that the members also should be aware of the calculation. Hence this article.
The IDA rate revision is based on All India Consumer Price Index. After Second Pay Revision w.e.f. 1.1.2007, the base index has also been revised to 1.1.2007, which is 126.33