Page 5 - Central Pay News Today

The DA and DR are paid to central employees or pensioners to adjust their cost of living and to protect their basic pay or pension from erosion in real value.

Union Minister Anurag Thakur on Friday said the Centre will spend Rs 12,815 crore to fund the hike in DA. This will benefit 47.58 lakh employees and 69.76 lakh pensioners.

The Union Cabinet on Friday increased the dearness allowance and dearness relief by 4 per cent to 42 per cent to benefit 47.58 lakh central government employees and 69.76 lakh pensioners. The combined impact on the exchequer on account of both Dearness Allowance and Dearness Relief will be Rs 12,815.60 crore per annum, I&B Minister Anurag Thakur told reporters after the meeting of Cabinet Committee on Economic Affairs (CCEA).

New Delhi: The Union Cabinet chaired by the Prime Minister, Narendra Modi, today has given its approval to release an additional instalment of Dearness Allowance to Central Governments employees and Dearness Relief to Pensioners with effect from 01.01.2023. The additional instalment will represent an increase of 4% over the existing rate of 38% of the Basic Pay/Pension, to compensate against

Get latest articles and stories on India at LatestLY. The Union Cabinet on Friday increased the dearness allowance and dearness relief by 4 per cent to 42 per cent to benefit 47.58 lakh central government employees and 69.76 lakh pensioners. India News | Govt Hikes DA for Central Govt Employees, Pensioners by 4 Pc.

This increase is in accordance with the accepted formula, which is based on the recommendations of the 7th Central Pay Commission

The dearness allowance for employees and pensioners are worked out on the basis of the latest Consumer Price Index for Industrial Workers (CPI-IW) brought out by the Labour Bureau every month. -- aaa

7th Pay Commission Latest News: The Central government is expected to make the announcement on DA hike after Holi as it would revise the fitment factor in March 2023. -- aaa

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Reports are suggesting that the big announcement on DA hike might come after the cabinet meeting deliberates on the quantum of DA hike, with the probability being a 4 percent DA hike.