DA hike
New Delhi/IBNS: The Union Cabinet chaired by Prime Minister Narendra Modi on Friday has given its approval to release an additional instalment of Dearness Allowance (DA) to central governments employees and Dearness Relief to Pensioners with effect from Jan 1 of this year.
The additional instalment will represent an increase of 4 per cent over the existing rate of 38 per cent of the Basic Pay/Pension, to compensate for the price rise.
This will take the total to 42 per cent.
The combined impact on the exchequer on account of both Dearness Allowance and Dearness Relief would be Rs.12,815.60 crore per annum.
This will benefit about 47.58 lakh central government employees and 69.76 lakh pensioners, an official statement said.
This increase is in accordance with the accepted formula which is based on the recommendations of the 7th Central Pay Commission.
The centre last revised DA in September 2022, effective retrospectively from July 1, 2022. That time, too, it was raised by 4 per cent to 38 per cent.
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