DA Hike Updates: DA is revised periodically twice a 12 months.
The central authorities has raised the dearness allowance (DA) and dearness reduction (DR) for its over a crore staff and pensioners by 3 per cent to compensate them towards worth rise. This takes the entire from 50 per cent to 53 per cent, to be paid over and above the fundamental pay. The hike in DA price was determined at a cupboard assembly chaired by Prime Minister Narendra Modi this morning.
The brand new price shall be efficient from July 1, 2024. The choice, taken weeks forward of Diwali, comes as a significant reduction to central authorities staff amid the festive season.
“This improve is in accordance with the accepted components, which relies on the suggestions of the seventh Central Pay Fee,” the federal government mentioned 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 staff and 64.89 lakh pensioners, the federal government mentioned.
DA is given to authorities staff and DR to pensioners to compensate them for rising costs. Revised periodically twice a 12 months, this allowance is calculated on the premise of the newest shopper worth index for industrial staff.