Govt gives nod to 10% hike in DA, to benefit 80 lakh employees, pensioners
The Union Cabinet has given approval to a 10% additional instalment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners with effect from July 1, 2013. This will benefit around 50 lakh serving employees and 30 lakh retired employees.
The latest increment will increase the effective rate of DA and DR to 90% and will cost government an additional Rs 7,253 crore in 2013-14 and Rs 10,879 crore 2014-15 onward.
About Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) :
DA and DR are revised twice a year, first in January 1 and second from July 1. The revisions are based on the change in the Consumer Price index for Industrial Workers (CPI-IW).
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Month: Current Affairs - September, 2013
Category: India Nation & States Current Affairs