Monday, September 24, 2012

Cabinet clears 7% hike in DA for Central Govt employees

The Union Cabinet today approved a 7 per cent hike in the Dearness Allowance, DA, for central government employees. In its meeting chaired by Prime Minister Dr Manmohan Singh in New Delhi, the cabinet give its nod to hike in DA. The approval will benefit 80 lakh central government employees and pensioners. The hike will be effective from July 1st this year, and the employees will be entitled to arrears from that date.

The additional burden on exchequer on account of increase in DA would be over 4900 crore rupees for the eight-month period between July, 2012 and February, 2013. It will be 7,400 crore rupees for the full financial year.

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