Friday, March 23, 2012

Govt approved 7% hike in Dearness Allowance from 01-01-2012

Union Cabinet approved an additional 7% dearness allowance (DA) for central government employees on today i.e. Friday 23-03-2012.

The additional DA would be effective from January 01 2012.

The formal order will be issued accordingly by Ministry of Finance, Department of Expenditure.

PIB News- 

Release of additional instalment of Dearness Allowance and Dearness Relief

        The Union Cabinet today gave its approval to release an additional instalment of Dearness Allowance (DA) to central government employees and Dearness Relief (DR) to pensioners w.e.f. 1.1.2012 representing an increase of 7% over the existing rate of 58% of the Basic Pay/Pension, to compensate for price rise. The increase is in accordance with the accepted formula, which is based on the recommendations of the 6th Central Pay Commission. The combined impact on the exchequer on account of both dearness allowance and dearness relief would be of the order of Rs.7474.53 crore per annum and Rs.8720.32 crore in the financial year 2012-13 (i.e. for a period of 14 months from January, 2012 to February, 2013). 

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