01-01-1970 12:00 AM | Source: IANS
Cabinet approves DA hike by 4%
In a festival bonanza for lakhs of Central government employees and pensioners, the Union Cabinet on Wednesday gave its clearance for release of additional instalment of Dearness Allowance and Dearness Relief at 4 per cent.
This would be due from July 1, 2022.
A total burden of Rs 12,852 crore would be borne by the exchequer towards payment of these allowances for the current fiscal, official sources said.
From July 1, 2022 till March 31, 2023, a total of Rs 8,568 crore would be spent on it.
DA hike will be beneficial for over 50 lakh Central government employees and 62 lakh pensioners.
With this, the DA has been increased from 34 per cent to 38 per cent for all the employees.
Latest News
How volatility hit the Indian markets in last three ...
Perspective On IIP Data By Mr. Nish Bhatt, Founder &...
Bajaj Allianz Life`s sustainable & profitable growth...
Muthoottu Mini Announces Strategic Expansion with Ne...
EVs, green hydrogen to propel India`s journey toward...
Quote on Malabar Gold and Diamonds saw an increase i...
Market outlook for next week, key events to watch
Hyundai Motor beats Volkswagen in Q1 operating profit
Astro Zindagi: Weekly Horoscope
Over $320 mn raised by 24 Indian startups this week