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Thursday, November 23, 2017

Centre hikes dearness allowance by 1% for 1.1 crore employees, pensioners

Wednesday, 13 September 2017 12:07
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NEW DELHI, September 12: The Centre on Tuesday increased dearness allowance and dearness relief by one per cent from the existing four per cent+ , benefiting over 1.1 crore employees and pensioners.

The decision was taken at a Union Cabinet meeting chaired by Prime Minister Narendra Modi.

"Release of additional installment of DA is an increase of 1 per cent over the existing rate of 4 per cent of the basic pay/pension, to compensate for price rise," an official statement said.

The new rate will come into effect from July 1 and is expected to benefit about 49.26 lakh central government employees and 61.17 lakh pensioners.

The statement further said the combined impact on the exchequer on account of both DA and DR would be Rs 3,068.26 crore per annum and Rs 2,045.50 crore in the financial year 2017-18 (for a period of 8 months from July 2017 to February 2018). (Agenceis)


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