New Delhi [India], October 16 (ANI): The Union Cabinet on Wednesday approved a 3 per cent hike in Dearness Allowance (DA) for government employees.
During a press briefing after the Cabinet meeting on Wednesday, Union Minister Ashwini Vaishnaw said that the DA hike was effective from July 1, 2024.
The Dearness Relief for pensioners has also been revised by 3 per cent, Vaishnaw said.
"The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved an additional instalment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners w.e.f. 01.07.2024 representing an increase of three percent (3 per cent) over the existing rate of 50 per cent of the Basic Pay/Pension, to compensate against price rise," as per a government release.
The combined impact on the exchequer on account of both DA and DR would be Rs .9,448.35 crore per annum, it added.
As per the release, this increase is in accordance with the accepted formula, which is based on the recommendations of the 7th Central Pay Commission. This will benefit about 49.18 lakh central government employees and 64.89 lakh pensioners.
The Dearness Allowance/Dearness Relief is paid to central government employees/pensioners to adjust the cost of living and to protect their basic pay/pension from erosion in the real values.
These are revised twice a year from January 1 and July 1 based on increase in 12 monthly average of All India Consumer Price Index for Industrial Workers (AICPI-IW) published by the Labour Bureau.
Since the hike is effective from July 2024, the employees will get arrears for July, August and September. (ANI)
You may also like
Himalayan Mountaineering Institute establishes Darjeeling's first ever STP
Tech suburbs among Bengaluru areas to get water supply under Cauvery 5th Stage
Kyle Walker and Annie Kilner's rocky romance timeline - 'blazing rows' to shock divorce papers
Majority of parents not deterred by fines for term-time family holidays, survey finds
Indians in Punjab fear dispute with Canada endangers work, study plans
Thomas Tuchel responds to controversial aspect of appointment as England manager
Siddaramaiah embroiled in MUDA scam, should step down: Sambit Patra after resignation of MUDA Chairman
Allu Arjun Fan Travels From Uttar Pradesh To Hyderabad On Bicycle, Falls On Actor's Feet On Meeting Him (VIDEO)
WB govt failed to carry out duties; Raj Bhavan intervening in RG Kar impasse constitutionally: Guv
Get Duchess of Edinburgh's sold out look for just £50 with stunning purse-friendly dresses
'Over-tourism' fears in village over major change that could 'ruin' island
Step Up to Better Health: 9 Life-Changing Benefits of Walking for Senior Citizens
BTS' Jin CONFIRMED To Collab With Red Velvet's Wendy For Song On His First Solo Album
OTT Adda: These 5 movies will stay in your memory for a long time, and will teach you many important things
Arsenal boss Mikel Arteta has green light to unleash ideal Declan Rice partner vs Bournemouth
Bihar: Four dead, several hospitalised after consuming illicit liquor in Siwan
Seventy lakh voters added to electoral rolls in Maharashtra in five years
Mark Robinson sues CNN for defamation, calls report 'high-tech lynching'
David Jason reveals tear-jerking gift late comedy partner Ronnie Barker left him
'Self-radicalised' man who vandalised Secunderabad temple hails from Maharashtra, says police