DA Hike: According to sources who spoke to India Today TV, the Union Cabinet approved a 4% increase in the Dearness Allowance (DA) and Dearness Relief (DR) for retirees and central government employees on Wednesday. After today’s Cabinet meeting, the Centre was expected to approve the 4% DA hike, sources told India Today TV on Tuesday.
7th Pay Commission Delivers Diwali Gift
The decision will raise the DA for employees of the central government from the current 42% to 46%. The authorised increase in the DA will take effect on July 1, 2023. The eagerly anticipated decision is being hailed as a “Diwali gift” for thousands of central government employees and pensioners, and it comes amid the current holiday season. 47 lakh central government employees and 68 lakh pensioners will benefit from the decision.
Significant Monthly Income Boost for Central Government Employees with 4% DA Hike
This is due to the fact that central government personnel will start receiving increased pay in November in addition to their back pay for the months of July through October. Those whose minimum basic wage is fixed at Rs 18,000 receive an extra Rs 7,560 per month from their current 42% DA. Their monthly income increases to Rs 8,280 at 46 percent DA. In the meantime, those who currently benefit from a 42 percent DA and have a maximum basic wage of Rs 56,900 receive Rs 23,898 each month as part of their pay. These people will witness a spike in their monthly income to Rs 26,174 at 46%.
A Bi-Annual Support System for Government Employees and Retirees
The DA serves as an allowance for cost-of-living adjustments given to the dedicated employees of the government. In a separate role, Dearness Relief (DR) provides central government retirees with the tools necessary to control the rising cost of living. Every six months, the government updates the DA and DR rates.
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK
