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Saturday, March 24, 2012

7 per cent DA hike for Central govt employees

In a good news for Central government employees, the government on Friday announced a seven per cent hike in the dearness allowance to compensate for the rise in prices of essential commodities. There will be an equal hike in dearness relief to pensioners.
The increased DA and DR will be applicable from January 1, 2012.
The hike approved by the Union Cabinet will take the DA from 58 to 65 per cent of the basic pay and pension.
The increase in DA and DR will cost the national exchequer Rs 7,474 crore annually, while for the remaining period of this fiscal and the next financial year, the implication would be Rs 8,720 crore.
The government had last effected a hike in DA and DR in September last year. The DA is revised every six months as it is linked with the consumer price index for industrial workers.
Source : The Indian Express, March 24, 2012

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