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Thursday, March 22, 2012

DA, pension hike likely

Lakhs of Central government employees and pensioners are likely to get a hike of seven per cent of their basic emoluments.
This proposal is high on the agenda of Thursday’s Union Cabinet meeting. Government sources said once approved, the dearness hike for Central employees and dearness relief for pensioners will become effective from January 1, 2012.
“If approved, the DA and DR for employees and pensioners will increase from 58 per cent of basic emoluments to 65 per cent.”
The additional DA and DR are announced every six months and are based on the inflation index for industrial workers. The hike was delayed as the Centre could not take a decision due to the model code being in effect for the Assembly elections in five states.
It will cost the exchequer around Rs7,500 crores annually. The March emoluments, paid in April, will include the increase; while the January and February amounts will be paid as arrears.
Courtesy: DECCAN Chronicle, March 22, 2012

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