DA Hike Updates: DA is revised periodically twice a yr.
The central authorities has raised the dearness allowance (DA) and dearness aid (DR) for its over a crore workers and pensioners by 3 per cent to compensate them towards value rise. This takes the overall from 50 per cent to 53 per cent, to be paid over and above the fundamental pay. The hike in DA charge was determined at a cupboard assembly chaired by Prime Minister Narendra Modi this morning.
The brand new charge might be efficient from July 1, 2024. The choice, taken weeks forward of Diwali, comes as a significant aid to central authorities workers amid the festive season.
“This improve is in accordance with the accepted system, which is predicated on the suggestions of the seventh Central Pay Fee,” the federal government stated in a press release.
The hike in DA and DR will price the exchequer an extra Rs 9,448.35 crore yearly and profit about 49.18 lakh central authorities workers and 64.89 lakh pensioners, the federal government stated.
DA is given to authorities workers and DR to pensioners to compensate them for rising costs. Revised periodically twice a yr, this allowance is calculated on the idea of the newest shopper value index for industrial staff.