Centre hikes DA rate by 6 percentMarch 7th, 2008 - 10:13 pm ICT by admin
New Delhi, Mar 7 (ANI): The Union Cabinet today gave its approval to hike the rate of dearness allowance (DA) by six per cent.
The cabinet gave not to release of additional instalment of dearness allowance to the Central Government employees and dearness relief to pensioners due from January 1 this year at the rate of 6 per cent over the existing rate of 41 per cent, thus, the rate of DA from January 1 this year will be 47 per cent.
The Central Government employees and pensioners will become entitled to higher amount of dearness allowance and relief respectively January 1 this year.
The combined impact on the exchequer on account of both dearness allowance and dearness relief would be of the order of Rs. 3297.12 crore in a full year and Rs. 3846.66 crore in the financial year 2008-2009 ( for a period of 14 months from January 2008 to February, 2009). (ANI)