IDA from 01.10.2014 - Facts and figures

As per the orders on the subject, the IDA to PSU employees is to be determined as,

“The percentage of increase in

the quarterly average of the

AICPI for the period ending

February, May, August and

November over index 126.33

upto one decimal point”.

The average index of AICPI for the period ending August 2014 works out to 250.33 and the percentage of increase over 126.33 is 98.155624.

The meaning for “Decimal point” as per oxford dictionary is

“a full point placed after the

figure representing units in a

decimal fraction”.

Fraction means,

          “a number that is not a

          Whole number (e.g.1/2, 0.5)”

In the above calculation the percentage of increase of  IDA due from 01.10.2014 works out  to 98.155624. It is to be rounded off to one decimal point. The first decimal point is 1 and the 2^nd and subsequent points are 55624. As the 2^nd and subsequent decimals are five and more than half, the first decimal is to be rounded off to 2 and thus the total increase of IDA from 01.10.2014 is to be worked out to 98.2% and not 98.1% as some associations are telling.

A detailed calculation of IDA from 01.01.2007 is appended. It may be seen there from the first decimal point is rounded off with reference to the 2^nd decimal point. (i.e 0.5 and above is rounded off to the next higher integer and less than that ignored while rounding off the first integer).

(D.CHANDRASEKARAN)
Circle Secretary, FNTO,
Tamil Nadu Circle,

Vellore

Date : 05.10.2014