New Delhi, Oct 16 (UNI) Adding to the festive cheer, the Union Cabinet on Wednesday approved a raise in dearness allowances (DA) for central government employees and dearness relief (DR) for pensioners by 3 per cent with effect from July 1 this year to compensate against price rise.
“The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved an additional instalment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners w.e.f. 01.07.2024 representing an increase of three percent (3%) over the existing rate of 50% of the Basic Pay/Pension, to compensate against price rise,” an official statement said.
This increase is in accordance with the accepted formula, which is based on the recommendations of the 7th Central Pay Commission. The combined impact on the exchequer on account of both DA and DR would be Rs 9,448.35 crore per annum.
This will benefit about 49.18 lakh central government employees and 64.89 lakh pensioners.
