pennews
www.pennews.net
Cabinet hikes DA, DR by 3 pc
National

Cabinet hikes DA, DR by 3 pc

Agency News

New Delhi, Feb 19: The Union Cabinet on Tuesday hiked the Dearness Allowance to central government employees and Dearness Relief to pensioners by 3 per cent with effect from January 1, 2019

The employees and pensioners would get the additional installment of DA and DR over the existing rate of 9 per cent of the basic pay/pension, to compensate for price rise, Union Finance Minister Arun Jaitley told reporters here after the Cabinet meet.

This increase is in accordance with the accepted formula, which is based on the recommendations of the 7th Central Pay Commission (CPC).

Mr Jaitley said the combined impact on the exchequer on account of both DA and DR would be Rs 9168.12 crore per annum and Rs 10696.14 crore in the FY 2019-20 (for a period of 14 months from January 2019 to February, 2020).

This will benefit about 48.41 lakh Central Government employees and 62.03 lakh pensioners, he added.

The Cabinet meeting was chaired by Prime Minister Narendra Modi here.

UNI