|Central Govt employees, pensioners to get 2% DA|
Early Times Report
SRINAGAR, Aug 29: The Union Cabinet, chaired by the Prime Minister Narendra Modi approved to release an additional instalment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners w e f 01, 07, 2018, representing an increase of 2% over the existing rate of 7% of the Basic Pay/Pension, to compensate for price rise. The spokesman said the combined impact on the exchequer on account of both Dearness Allowance and Dearness Relief would be Rs 6112.20 crore per annum and Rs 4074.80 crore in the financial year 2018-19 (for a period of 08 months from July 2018 to February 2019).
This will benefit about 48.41 lakh Central Government employees and 62.03 lakh, pensioners.
This increase is in accordance with the accepted formula, which is based on the recommendations of the 7th Central Pay Commission.