Technoglitch
Core Member
On the eve of Holi festival, the government on Wednesday hiked dearness allowance (DA) by 6%, benefiting over 1 crore central government employees and pensioners.
The hike, which will cost the exchequer an additionalRs.14,724.74 crore annually, will take effect from 1January 2016, telecom minister Ravi Shankar Prasad told reporters after the meeting of the Union Cabinet which took the decision.
The burden on exchequer would be Rs.6,795.5 core towards central government employees and Rs.7,929.24 crore towards pensioners during 2016-17, he said.
The DA, which will benefit, 50 lakh central government employees and 58 lakh pensioners, will go up from the existing 119% to 125%.
DA hiked by 6%, to benefit 1 crore employees, pensioners - Livemint
The hike, which will cost the exchequer an additionalRs.14,724.74 crore annually, will take effect from 1January 2016, telecom minister Ravi Shankar Prasad told reporters after the meeting of the Union Cabinet which took the decision.
The burden on exchequer would be Rs.6,795.5 core towards central government employees and Rs.7,929.24 crore towards pensioners during 2016-17, he said.
The DA, which will benefit, 50 lakh central government employees and 58 lakh pensioners, will go up from the existing 119% to 125%.
DA hiked by 6%, to benefit 1 crore employees, pensioners - Livemint
