Sunday, September 18, 2011

DA hiked by 7%

New Delhi, September 15 - The government has raised the Dearness Allowance (DA) by 7% to 58%, effective July 1. Nearly five million Central government employees and four million pensioners would benefit. “Dearness Allowance of central government employees has been raised from 51 per cent to 58 per cent. The hike is effective from July 1, 2011,” Information and Broadcasting Minister Ambika Soni said after a Cabinet meeting, chaired by Prime Minister Manmohan Singh.

Soni said the hike in dearness allowance would provide major relief to the employees and pensioners as prices of essential commodities have been consistently rising. “Total financial implication due to the hike will be Rs 7,228.76 crore per annum. In the current fiscal, it will be Rs 4,819.22 crore,” Soni said.
The Cabinet also approved the Approach Paper for the 12th Five Year Plan (2012-13 to 2116-17), which targets 9 per cent growth.

(Source-Tribune News Service)

Wednesday, September 7, 2011

Cabinet Committee to decide on additional dearness allowance hike tomorrow, 8th September 2011

The Union Cabinet Committee tomorrow may decide on raising additional dearness allowance to central government employees, official sources said.

The Union Cabinet Committee likely to approve the second additional instalment of 7% dearness allowance for this year to Central Government employees and dearness relief to Central Government pensioners due from 1.7.2011.

More than 50 lakh serving employees and 38 lakh pensioners are expecting eagerly for this announcement to compensate the price hike in essential commodities and other goods.

(Source- CGS Staff news)