New Delhi: The central government employees are likely to get 3 per cent hike in Dearness Allowance (DA), sources said on Tuesday. Reports said that the Union Cabinet has approved a 3 per cent hike in the dearness allowance ahead of Diwali. The 3 per cent increase will mean that the DA be 53 percent of the basic pay. The DA hike will ensure much-needed financial relief ahead of Diwali.
In March 2024, the Union Cabinet led by PM Modi have its nod to release an additional instalment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners with effect from January 1, 2024. The government had announced an “increase of 4% over the existing rate of 46% of the Basic Pay/Pension, to compensate against price rise”.
The combined impact on the exchequer on account of both Dearness Allowance and Dearness Relief would be Rs.12,868.72 crore per annum. This will benefit about 49.18 lakh Central Government employees and 67.95 lakh pensioners.
Sources said that the Dearness Allowance hike will be effective from July 1, 2024. The central government employees will receive arrears for the months of July, August and September.
Meanwhile, sources said that the Union Cabinet has also given green signal to Coastal Shipping Bill 2024. The Cabinet also approved MSP for Rabi crops for 2025-26. The Modi Cabinet also gave its nod to increase the Minimum Support Price (MSP) of wheat by Rs 150 per quintal. The Cabinet has also given the green signal to raise the MSP for mustard by Rs 300 to Rs 5,950, and chana by Rs 210 to Rs 5,650, reports said.
The Union Cabinet led by Prime Minister Narendra Modi gave its nod for 3 percent Dearness Allowance hike to central government employees, reports said. The Modi Cabinet increased wheat MSP, and approved MSP for Rabi crops for 2025-26. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
