Dearness Relief
Cabinet hikes dearness allowance to 53% from 50% for central govt staff
This story was originally published at 16:28 IST on 16 October 2024
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--Cabinet hikes dearness allowance to 53% from 50% for central govt staff
--Govt: Hike in dearness allowance to cost INR 94.48 bln
NEW DELHI – The Union Cabinet Wednesday approved a 300-basis-point hike in dearness allowance and dearness relief to 53% of basic pay and pension for central government employees and pensioners, respectively, effective Jul. 1. The hike will cost the government INR 94.48 billion per year, Information and Broadcasting Minister Ashwini Vaishnaw said at a press conference.
Informist had reported earlier in the day, citing sources, that the Cabinet is likely to approve hike in dearness allowance by 300 bps to 53%. The move will benefit 4.92 million employees and 6.49 million pensioners, the government said in a release.
The government typically hikes the dearness allowance twice a year, as per the formula recommended by the Seventh Pay Commission. In March, it had hiked the dearness allowance and dearness relief by 400 bps to 50% of basic pay and pension. End
Reported by Shubham Rana
Edited by Vandana Hingorani
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