GG News Bureau
New Delhi, 16th Oct. The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved an additional instalment of Dearness Allowance (DA) for Central Government employees and Dearness Relief (DR) for pensioners. Effective from July 1, 2024, the increase amounts to 3% over the existing rate of 50% of the Basic Pay/Pension. This adjustment aims to offset the impact of price rise on employees and pensioners.
The hike follows the established formula as per the 7th Central Pay Commission recommendations. The move will result in an annual financial burden of Rs. 9,448.35 crore on the central exchequer.
This decision is set to benefit approximately 49.18 lakh Central Government employees and 64.89 lakh pensioners across the country, offering them relief amidst rising costs of living.
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