Good News for all Indian’s because The Union Cabinet ( Central Government) chaired by the Prime Minister, Shri Narendra Modi, today gave its approval to Increase of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners and government Employees which will come in effect from 01.01.2015 On-wards at the rate of six percent increase over the existing rate of 107 percent.
DA and DR To be Rise by 6 %
According to IBN LIVE, The decision benefiting 48 lakh government employees and 55 lakh pensioners would lead to an outgo of Rs 7,889.34 crore in the current fiscal. The decision to hike the DA was taken at the meeting of the Union Cabinet headed by Prime Minister Narendra Modi, an official statement said.
According to ZEE NEWS, The increase is in accordance with the accepted formula based on the recommendations of the 6th Central Pay Commission. The release further said the combined impact on the exchequer on account of both DA and DR would be of the order of Rs 6,762.24 crore per annum, and Rs 7,889.34 crore in the 2015-16 (for a period of 14 months from January 2015 to February 2016).
DA and DR are revised twice every year with first one effective from January 1 and second from July 1. Revision is done on the basis of change in retail inflation during last six months.
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