New Delhi: Good news for the Central government employees. The Narendra Modi-led government has hiked the Central employees’ dearness allowance (DA) by 4 percent today.
The decision to hike DA by four per cent ahead of the general election across the country was taken during a Cabinet meeting held today under the chairmanship of Prime Minister Narendra Modi.
With the four per cent hike, the dearness allowance of the Central government employees rose to 50 per cent.
According to Union Minister Piyush Goyal, the increased four per cent DA will come into effect from January 1, 2024. This will benefit 49.18 lakh employees and 67.95 lakh pensioners.
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.
This increase is in accordance with the accepted formula, which is based on the recommendations of the 7th Central Pay Commission.
Ms Kalinga