Press Trust of India |
Last Updated at September 28, 2022 17:17 IST
Ahead of Diwali festival, the Union Cabinet on Wednesday increased the dearness allowance (DA) and dearness relief by 4 per cent effective July 1, 2022, benefiting 4.18 million central government employees and 6.97 million pensioners.
The additional instalment of DA and dearness relief (DR) is an increase of 4 per cent over the existing rate of 34 per cent of basic pay/pension.
The combined impact on the exchequer on account of both DA and DR would be Rs 12,852.5 crore per annum, said Information and Broadcasting Minister Anurag Thakur while briefing reporters about the decisions of the Union Cabinet.
Central government employees and pensioners will become entitled to higher amount of DA and DR respectively, with effect from July 1, 2022, Thakur said.
The increase in the DA and DR is based on the percentage increase in 12 monthly average of All India Consumer Price Index for the period ending June, 2022.
The impact of enhanced dearness allowance to the employees on exchequre is estimated at Rs 6,591.36 crore per annum and Rs 4,394.24 crore in 2022-23 (8 months from July, 2022 to February, 2023).
In case of dearness relief, the impact would be Rs 6,261.20 crore per annum and Rs 4,174.12 crore in the current fiscal.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Wed, September 28 2022. 15:47 IST
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Centre gives 4% hike in DA to its employees, pensioners ahead of Diwali – Business Standard