Monday, September 16, 2013

How to calculate interest on GPF

How to calculate GPF Interest

General Provident Fund : Needless to say that one of the easiest and good return saving scheme for Central Government Employees who have been appointed on or before 31.12.2003. They can save not less than 6% from the total emoluments. As per the GPF Rules, subscriptions may be increased twice and/or reduced once at any time during the year. Interest rates are announced by the Central Government from time to time, it has now been reduced from 8.8% to 8.7% for the current year. 
GPF calculation Illustration –1 :-
Monthly subscription Rs.5,000
Rate of Interest 8.8%
Month Subscription Refund Withdrawal Progressive Balance Interest for Year
Apr-12 5,000 - - 5,000 -
May-12 5,000 - - 10,000 -
Jun-12 5,000 - - 15,000 -
Jul-12 5,000 - - 20,000 -
Aug-12 5,000 - - 25,000 -
Sep-12 5,000 - - 30,000 -
Oct-12 5,000 - - 35,000 -
Nov-12 5,000 - - 40,000 -
Dec-12 5,000 - - 45,000 -
Jan-13 5,000 - - 50,000 -
Feb-13 5,000 - - 55,000 -
Mar-13 5,000 - - 60,000 -
  60,000 - - 3,90,000 2860
Calculation of interest = 390000 / 12 x 8.8 / 100 = 2860
Closing balance as on 31.3.2013 will be = 60,000 + 2,860 = 62,860
GPF calculation Illustration –2 :- Closing balance Rs.1,80,000
Monthly subscription Rs.10,000
Rate of Interest 8.8%
Taken as final withdrawn Rs.1,80,000 during November, 2012
Month Subscription Refund Withdrawal Progressive Balance Interest for Year
Apr-12 10,000 - - 1,90,000 -
May-12 10,000 - - 2,00,000 -
Jun-12 10,000 - - 2,10,000 -
Jul-12 10,000 - - 2,20,000 -
Aug-12 10,000 - - 2,30,000 -
Sep-12 10,000 - - 2,40,000 -
Oct-12 10,000 - - 2,50,000 -
Nov-12 10,000 - 1,80,000 80,000 -
Dec-12 10,000 - - 90,000 -
Jan-13 10,000 - - 1,00,000 -
Feb-13 10,000 - - 1,10,000 -
Mar-13 10,000 - - 1,20,000 -
  1,20,000 - 1,80,000 20,40,000 14,960
Calculation of interest = 2040000 / 12 x 8.8 / 100 = 14960
Closing balance as on 31.3.2013 will be = 1,20,000 + 14,960 = 1,34,960

(Source-EKA News)

WELL DONE !WELL SAID! MODI SAHIB IN YOUR FIRST MAIDEN SPEECH AS BJP'S PM CANDIDATE FOR ESM :: HOPE ACTIONS WILL FOLLOW NOT HOLLOW WORDS TO CAST SHADOW

Monday, September 16, 2013



Rewari(Haryana): Gujarat Chief Minister Narendra Modi, who was on Friday named the BJP's prime ministerial candidate for the 2014 national elections, has addressed a massive rally in Rewari,( Haryana) .organised by BJP unit of ESM.
   No doubts the speech was heart throbbing, well said,well articulated, HI-FI words in praise of ESM/Serving Defence personnels,very very impressive speech which did generate a momentary heat in the blood of the listeners.
 We only hope that the speech is taken in letter and spirit if BJP comes into power and not with a view of giving speech with a preconceived idea of FIRST Impression is LAST Impression. The  speech was a maiden speech from  PM in waiting candidate of BJP.  
  Mr Narinder Modi did not leave any aspect which he did not touch upon in order to incite an Indian soldiers feeling from core of his heart ,whether one was present at the rally or watching Live on TV .
It was indeed heartening to hear Mr Modi say that the demand by Ex-Servicemen for grant of One Rank One Pension is a legitimate one; and One Rank One Pension must be granted. He asked the present Govt. to put out a White Paper on grant of One Rank One Pension. He also touched upon to pay homage to the martyrs at  war memorial 
  Further Delivering his first he targeted the ruling Party (Congress)  over the killings of Indian soldiers at the LoC. Hitting at Defence Minister  for his 'terrorist wearing Pakistan Army uniforms' remark, he said the leaders should refrain from insulting the soldiers. Modi also pointed fingers at the JD (U) for the insensitive remarks made by its leaders about the Indian Army( FAUJ MAE LOG MARNE KE LIYE JATTE HAI).
        Respected Modi Sahib, We are proud of you for the moment, as till today, what to mention about National  Leaders, incl Ministers dealing with Defence matters, nor even a State Minister of any State ,have never ever have shown so much concern, showered praise for the Defence personnel's and the ESM. If you really mean, what you have said at the Rally ,then there is no other power except ballot which can stop you from  leading  the Nation as PM
  We wish him luck and pray to GOD to ensure that Mr Modi will recollect  all he said today if he sits on the saddle of PM in future.
The above  preface paras are again personal views not that of sanjha Morcha.

Col CJS Khera(Retd)
Gen Secy
 
=======================================================
NARENDRA MODI’s SPEECH AT THE EX-SERVICEMEN RALLY
AT REWARI (HARYANA) ON SUNDAY, 15 SEP 2013
 

Here are highlights of his speech:         
  • Our voice must reach those who are deployed on the borders
  • Today I have the privilege of coming here and being amongst you
  • Is dharti ne har yuddh mein shahadat ka shatak lagaya hain(This is the land of a 100 martyrs in every war in this country)
  • As a small soldier of India, I salute the brave soldiers gather here
  • To die for the country, to desire martyrdom is no less pious that rishis of India
  • I salute all the ex-servicemen across India, not just those gathered here
  • Today morning I got some news. India is a country that has been starved for good news for a decade
  • We have been getting news of defeat and disappointment. I congratulate the scientists who have successfully test-fired the Agni-V ballistic missile today
  • Two days ago, I was given a great responsibility by the BJP. The elation I have today being here, I did not have when my name was announced
  • I was in Class 6 and belonged to a poor family. I had not seen 2 rupees together. I saw an advertisement in the newspaper for a sainik school
  • I saved Rs. 2 , and went to the post office for the first time. I got the prospectus from the school. Serving the country meant joining the Army
  • I asked my father for money to travel to the sainik school, but my father said  we did not have the means
  • And this is the same school in Jamnagar where Haryana Chief Minister Hoodaji went - unhone Gujarat ka namak bahut khaya hain (LAUGHTER)
  • In 1965, when I found out soldiers were going to the border through Mehsana, I went there without telling my father
  • I served them tea, food... and that went on for many days
  • Wherever I worked for the BJP, I visited cantonments and interacted with soldiers. They became my extended family
  • This must be a divine signal. This rally was planned months earlier. How was I to know on September 13 such a huge announcement would take place?
  • There isn't a family in Haryana that hasn't been touched by Swami Dayanand Saraswati and his Arya Samaj movement
  • During the emergency, Morarji Desai was interned in Haryana and that is a connection Haryana has with Gujarat
  • Sri Krishna was from Dwaraka in Gujarat but he is connected to Haryana through Kurukshetra where he delivered the sermon of Bhagwad Gita
  • When Gujarat was struck by the earthquake at Bhuj, the soldiers of the Indian Army arrived as saviours (devdoot)
  • In Uttarakhand, our soldiers worked relentlessly to save people and some of them were killed in serving the pilgrims
  • I salute them and am proud of their sacrifices
  • When the country was commemorating such sacrifices, Pakistani soldiers were killing our soldiers along the border
  • And unfortunately, our Defence Minister said in Parliament there were some people in Pakistani Army uniforms
  • How painful that must be for the thousands of Indians? But the govt in Delhi doesn't seem to care
  • And it is shameful that a member of the ruling party says people join the army to die
  • If you can't weep for the martyrs don't, but do not insult the memory of the soldiers who died for the country
  • Whenever I get the opportunity to celebrate Diwali, I go and spend it with soldiers on the border
  • I have laid 700 km of pipeline to get drinking water to the last border outpost when I saw camels were deployed to fetch water
  • We have made a Shaheed Smarak (memorial) on the border for those who laid down their lives in the wars with Pakistan
  • Pakistan doesn't let up in its antics, China is going eyeball to eyeball threatening to stop the flow of Brahmaputra
  • Are our neighbours troubling us because our Army is weak? No. The problem is not at our borders, it is in Delhi
  • Till we have a capable government in Delhi which is nationalistic and committed to protecting every citizen, we can't guarantee security
  • The threat of internal security: India has lost more jawans to bullets from terrorists than enemies from across the border
  • The nature of war has changed. Many more countries and people are affected by proxy war or terrorism as compared to those in the two World Wars
  • There should be a global consensus on tackling terrorism, Maoism and that is not difficulty if India has capable leadership
  • You can't selectively deal with terrorism. All humanist forces should come together for world peace and progress in the developing world
  • Pakistan has a newly elected government, there was hope that they would try and improve relations. But the way our soldiers were killed shows their intentions are not good
  • To Pakistan's rulers I say fight against poverty. Weapons and warfare have done you no good in 60 years. Try not allowing terrorists to use your territory for 10 years and you'll see your progress will be manifold
  • When the Indian Army could not be defeated at the border, innocent citizens were targeted by terrorists
  • Cross-border terrorism can't benefit India, Pakistan or Bangladesh
  • To Pakistan, I say you may have been born out of anti-India politics but that can't contribute to your progress
  • Vote-bank politics has eaten way at foundations of this country. If politicians have to learn secularism, look at the Indian Army. There is no greater example of Indian secularism
  • Through the Sacchar Committee they conducted a headcount of Hindus and Muslims in the Army. They have committed the sin of trying to communally colour the Indian Army
  • I salute the officers who stood against it and refused the census within the Armed Forces on communal lines
  • I appeal to my soldiers - don't forgive these people who tried to divide you
  • Strong Army, Strong Leadership, Strong Country - these are the dreams we must achieve
  • We must have the educated youth in the Armed Forces - more than borders wars will be fought with technology
  • We must create an atmosphere where joining the Army becomes a matter of pride
  • When our solders with severed limbs go from door-to-door with appeals, that's not acceptable
  • We must ensure our ex-servicemen live with dignity and honour
  • Demand that the govt of India bring out a 'white paper' on the status on One-Rank-One-Pension
  • We can use the skills of ex-servicemen in many areas - if you use them in fire brigades, there will be no fire in this country
  • (Mentions Rajyavardhan Rathore) who brought glory to the country with his Olympic medal.. can't more soldiers do it?
  • Appointing 1000 ex-servicemen had such a moral impact that the power thefts stopped
  • Most of the budget of the Army goes towards importing cheap munitions
  • We are a country of 1.2 billion with the capability of launching its own missiles, but we import the smallest of things
  • The people in Delhi don't know how its soldiers are but do know when the next tender is coming out
  • We should dream that we will have the capability of developing our defense industries and become exporters
  • We must become self-reliant in meeting the needs of our Armed Forces. If the supply of weaponry stops during war, due to the foreign policy of a third nation, imagine what our plight will be
  • Casting your vote is also a way of serving the nation. When we get the right to vote, many of us don't appreciate the gift of our constitution
  • If you want a strong India, ensure that people are enfranchised
  • I want your help with another endeavour. Sardar Patel united this country but for many years his contribution has been forgotten
  • He was a farmer, he was the iron-man of India. We want to make a memorial for Sardar Patel - a statue of unity that will be twice as tall as the Statue of Liberty
  • We want to make the tallest statue in the world and we want to involve the whole country in this endeavour
  • I want a piece of iron from every village - iron that is used to till the land in villages
  • Vande Mataram
(Source- SanjhaMorcha blog)
 

Narendra Modi's First Rally as BJPs PM Candidate At Rewari in Haryana in presence of Gen VK Singh


'I salute the sacrifice of our jawans'


Gujarat Chief Minister Narendra Modi, who was on Friday named the Bharatiya Janata Party's prime ministerial candidate for the 2014 national elections, addressed a massive rally in Rewari, Haryana on Sunday afternoon, his first after he named the party’s prime ministerial candidate.
Narendra Modi began his address to ex-servicemen at the with a "Bahrat mata ki jai" chant. He thanked ex-army chief V K Singh for attending the rally. 

"Never before in my life have I stood before so many soldiers. I salute the sacrifice of the jawans. To die for the country, to desire martyrdom is no less pious that rishis of India,” he said. “India has been starved for good news for a decade. We have been getting news of defeat and disappointment. Today, I congratulate the scientists who have successfully test-fired the Agni-V ballistic missile.” 

At the rally Modi said that as a child he dreamed of serving the armed forces and he went on to narrate a small anecdote from his childhood days. “I was in Std VI. I belonged to a poor family and had not even seen Rs 2. So when I saw an advertisement in the newspaper for recruitment of the Jamagar Sainik School, I saved Rs 2 and got the prospectus,” he recalled. “I asked my father for money to travel to the sainik school, but my father said we did not have the means; my dreams remained unfulfilled.” 
“And this is the same school in Jamnagar where Haryana Chief Minister Hoodaji went. Unhone Gujarat ka namak bahut khaya hain,” Modi laughed.

'The call of change is coming from this rally ground'


The Gujarat CM then went on to speak about his elevation in the BJP. "It is God's wish that I stand before you as the PM's candidate. I feel happier being the BJP's PM nominee after coming to this rally," said Modi.
"This must be a divine signal. This rally was planned months earlier. How was I to know on September 13 such a huge announcement would take place?"

"I attended a rally in Rewari with Atalji, but today's scenario is different. It cannot be captured on any camera," he said. "The call of change is coming from this rally ground in Haryana." 
   
"There isn't a family in Haryana that hasn't been touched by Swami Dayanand Saraswati and his Arya Samaj movement. During the emergency, Morarji Desai was interned in Haryana and that is a connection Haryana has with Gujarat. Sri Krishna was from Dwaraka in Gujarat but he is connected to Haryana through Kurukshetra where he delivered the sermon of Bhagwad Gita," Modi said.

'Problem is not at our borders, the problem

is in New Delhi'


He attacked the Congress-led United Progressive Alliance government for its handling of security issues such as incursions by China and the killing of Indian jawans at the border and repeated ceasefire violations by Pakistan.

At the rally Narendra Modi slammed the defence ministry and the government for the lack of respect to the armed forces. "When Gujarat was struck by the earthquake at Bhuj, the soldiers of the Indian Army arrived as saviours (devdoot). In Uttarakhand, our soldiers worked relentlessly to save people and some of them were killed in serving the pilgrims. I salute them and am proud of their sacrifices."
“When Gujarat was struck by the earthquake at Bhuj, the soldiers of the Indian Army arrived as saviours (devdoot). In Uttarakhand, our soldiers worked relentlessly to save people and some of them were killed in serving the pilgrims. I salute them and am proud of their sacrifices." 

"When the country was commemorating such sacrifices, Pakistani soldiers were killing our soldiers along the border And unfortunately, our Defence Minister ( A K Antony) said in Parliament there were some people in Pakistani army uniforms. How painful that must be for the thousands of Indians? But the government in Delhi doesn't seem to care,” he added. 

"It is painful to see ministers giving statements that people join armed forces to die," he said.

'Terrorism, Maoism no difficulty if

India has capable leadership'


"Whenever I get the opportunity to celebrate Diwali, I go and spend it with soldiers on the border. I have laid 700 km of pipeline to get drinking water to the last border outpost when I saw camels were deployed to fetch water. We have made a Shaheed Smarak (memorial) on the border for those who laid down their lives in the wars with Pakistan," he claimed.

"Pakistan doesn't let up in its antics, China is going eyeball to eyeball threatening to stop the flow of Brahmaputra. Are our neighbours troubling us because our army is weak? No. The problem is not at our borders, it is in Delhi." 

"Till we have a capable government in Delhi which is nationalistic and committed to protecting every citizen, we can't guarantee security.”
Modi said that there is threat of internal security. "India has lost more jawans to bullets from terrorists than enemies from across the border. The nature of war has changed. Many more countries and people are affected by proxy war or terrorism as compared to those in the two world wars. There should be a global consensus on tackling terrorism, Maoism and that is no difficulty if India has capable leadership," he said.

'Pakistan should fight it's own evil not India'

Modi also sounded a warning to Pakistan. He urged Pakistan to fight its own evil and not India. "The Pakistan government should concentrate on the development of it's own country." "Pakistan has a newly elected government, there was hope that they would try and improve relations. But the way our soldiers were killed shows their intentions are not good," he said. "To Pakistan's rulers I say fight against poverty. Weapons and warfare have done you no good in 60 years. Try not allowing terrorists to use your territory for 10 years and you'll see your progress will be manifold," he added.
"Cross-border terrorism can't benefit India, Pakistan or Bangladesh. To Pakistan, I say you may have been born out of anti-India politics but that can't contribute to your progress," he said.

'Politicians should learn secularism from Indian Army'

Modi said that the armed forces are the biggest symbol of secularism. "Vote-bank politics has eaten way at foundations of this country. If politicians have to learn secularism, look at the Indian Army. There is no greater example of Indian secularism. The army is an epitome in peaceful co-existence and harmony," he said. "The netas are trying to divide the army on the basis of religion." 
He said that the youth were shying away from joining army as they are neglected. He demanded that the government of India bring out a 'white paper' on the status of the one-rank-one-pension. He said that if the Vajpayee government was elected in 2004 we would not face these circumstances.
The Gujarat CM also raked up graft issues facing the armed forces. "Most of the budget of the army goes towards importing cheap munitions. We are a country of 1.2 billion with the capability of launching its own missiles, but we import the smallest of things." "The people in Delhi don't know how its soldiers are but do know when the next tender is coming out. We should dream that we will have the capability of developing our defense industries and become exporters," he said.  
Modi appealed to the armed forces to mobolise the youth to cast their votes. "Casting your vote is also a way of serving the nation. When we get the right to vote, many of us don't appreciate the gift of our constitution."Towards the end of his 65-minute speech, he invoked his dream of building a Sardar Patel memorial. “I want your help with another endeavour. Sardar Patel united this country but for many years his contribution has been forgotten. He was a farmer, he was the iron-man of India." He said that the tallest statue is in the US -- the Statue of Liberty. "India needs to make a bigger statue -- the Statue of Unity." He appealed to the armed forces to contribute to the Iron Man memorial. "I want a piece of iron from every village - iron that is used to till the land in villages."
Modi ended his speech with chants of Bharat Mata ki Jai and Vande Mataram.  

(Source- India of my Dreams blog)

Narendra Modi, BJP's prime ministerial candidate today addressed a massive ex-servicemen's rally at Rewari in Haryana on Sunday.

Narendra Modi, BJP's prime ministerial candidate today addressed a massive ex-servicemen's rally at Rewari in Haryana on Sunday. Former Army chief Gen V K Singh also shared the dias with Modi. This was the Modi's first rally after his anointment as the BJP's prime ministerial candidate. The address was attended by a crowd exceeding 1.5 lakh including many ex-servicemen. Modi expressed his gratitude towards the Army personnel and said that it was a privilege for him to address "such a huge" gathering of former members of the Army. "I salute the Army and the ex-Army men of India. I bow to the brave soldiers of our nation," Modi said.
In his speech Modi demanded a White Paper on One Rank, One Pension facility for the ex-service-men. He added "The problem wouldn't have persisted had Vajpayee came back to power in 2004."
He also slammed Defence Minister AK Antony's statement in Parliament over LoC killings where he stated that the attacks were by people who had come in Pakistan Army's uniform.
Modi also congratulated the Indian defence scientists for the successful launch of Agni-V missile on Sunday morning.

Some of the highlights of the speech
  • It is not the army that is at fault for this, the problem is in Delhi. So we need to seek a solution from Delhi too
  • Pakistan is trying infiltrate into our land, take water from Brahma putra everyday
  • When people want to go for a vacation they should go visit the army memorials, it gives one encouragement, good morals
  • The government seems to think that the army has signed up to die
  • But our defence minster just said that they were Pakistani men wearing army uniforms. Nothing hurts me more than this
  • During the Uttaranchal tragedy, Pakistan opened fire at our army men
  • During the floods in Uttaranchal too army came in saved the pilgrims. I salute them for putting others' life before their own
  • Army saved Gujarat during the Bhuj earthquake, when people were struggling between life and death: Narendra #Modi #ht
  • For one to win a war one has to have the courage to stand up and be a leader: Modi
  • It was pre-decided that I will address this rally, I was nominated BJP's PM candidate by then
  • Bhupinder Singh Hooda "ne Gujarat ka namak bahut khaaya hai": Modi
  • In my lifetime I never got the chance to be surrounded by so many servicemen. I consider this my good luck
  • The thrill that I feel during this function is much more than the happiness I felt when I was nominated BJP's PM candidate: Modi
  • Glad we got the good news about the successful launch of Agni 5 missile
  • We aren't getting the opportunity to hear good news in this country, it's been almost decade that we've only heard bad news. We are tired
  • I respect and commend army men all over the country
  • To have the will to give your life for your country makes them as great as saints. I commend these army men
  • India is the land of bravehearts
(Source-CG News blog)

Tuesday, September 3, 2013

Children Education Allowance for all PBOR Ex-servicemen (not for JCOs) by MoD

MoD introduced a financial assistance to all PBOR ex-servicemen upto the rank of HAVILDAR (not for JCOs) for Army, Navy & Air Force to educate their children as an allowance of Rs.1,000/- per month per child (restricted for two children only) upto the class of 12 and for professional studies Rs.1,500/- per month. Such ex-servicemen will get Rs.12,000/- per year for one child and Rs.24,000/- for two children being Children Education Allowance. To get this allowance, the specified application form should be reached to MoD through District Sainik Seva Board or Directly.

Application forms are available at District Sainik Seva Board. The application form should be supported with the attested copies of child’s last year mark list, certificate from the school, Discharge Book, PPO, Pass Book of Pension Account. For further details please contact to the nearest District Sainik Seva Board in any state. Please give wide publicity.

(Source- R Senthil - Ex-POELA from DESA Blog)

Purchase of Car through CSD

ELIGIBILITY AND CONDITION FOR PURCHASE OF CAR TO PBOR

Eligibility – All PBOR (Serving or retired) must hade completed 15 year’s of color service and had released honorably are eligible to purchase four wheeler up to 1300cc capacity through CSD.

A) Documents required for serving PBOR

1) Indent form signed by commanding officer.
2) Pan card (Photocopy attested)
3) Address proof. (Photocopy attested)
4) Service certificate (Attested by commanding officer)
5) Financial certificate (Attested by commanding officer)
6) Affidavit in five rupees stamp paper containing the following:-
a) I have not purchased a car in the last 5 to7 years.
b) I shall not sale the car for next two years.
c) I understand that any violation of the above will make me liable to pay back the entire excise/ sale tax concessions to the government
d) The vehicle is for personal use only.
e) The vehicle purchased from CSD will be registered on self name only.
7) Certified copy of pay book wherein the entry with regard to purchase of car by PBOR is made.
8) Driving license. (Photocopy attested)

B) Documents required for retired PBOR

1) Indent form signed by commanding officer.
2) Pan card (Photocopy attested)
3) Address proof. (Photocopy attested)
4) Discharge book (Photocopy attested)
5) Pension pay order (Photocopy attested)
6) Financial certificate (Attested by station head quarters)
7) Affidavit in five rupees stamp paper containing the following:-
a) I have not purchased a car in the last 7 years.
b) I shall not sale the car for next two years.
c) I understand that any violation of the above will make me liable to pay back the entire excise/ sale tax concessions to the government
d) The vehicle is for personal use only.
e) The vehicle purchased from CSD will be registered on self name only.
8) Driving license. (Photocopy attested)

C) ELIGIBILITY AND CONDITION FOR PURCHASEOF CAR THROUGH CSD FOR OFFICER’S RANK
I)Serving Officer’s

1) Pan Card
2) Driving license.
3) Indent form (Attested by commanding officers)
4) Draft of price of vehicle In favor of;
CANTEEN STORES DEPARTMENT, PUBLIC FUND A/C MAIN, PAYABLE AT RAMGARH CANTT RAMGARH) - SBI SODE-0164

ii) Retired Officer’s

1) Pan Card
2) Driving license.
3) Indent form (Attested by commanding officers)
4) P.P.O photo copy.
5) Draft of price of vehicle In favor of;
(CANTEEN STORES DEPARTMENT, PUBLIC FUND A/C MAIN, PAYABLE AT RAMGARH CANTT RAMGARH) - SBI CODE-0164
 (Source - Ajoy - DESA Blog)

Sunday, September 1, 2013

Government to hike DA by 10%; benefit 80 lakh employees & pensioners

 

 
According to official source, dearness allowance hike will be 10 per cent and would be effective from July 1, this year.
According to official source, dearness allowance hike will be 10 per cent and would be effective from July 1, this year.
 
NEW DELHI: Ahead of festival season, Central Government will this month announce a hike in dearness allowance to 90 per cent from existing 80 per cent, benefiting about 50 lakh central employees and 30 lakh pensioners.

According to official source, dearness allowance hike will be 10 per cent and would be effective from July 1, this year.

The sources further said the exact amount of dearness allowance, as a proportion of basic pay, works out to over 90 per cent after factoring in the revised all India Consumer Price Index for Industrial Workers (CPI-IW) for June.

According to revised data released on August 30, retail inflation for factory workers for June stood at 11.63 per cent, higher than provisional estimate of 11.06 per cent for the month released on July 31.

Sources said that since the revised estimate for the month of June is available, the Finance Ministry would soon prepare a proposal for the purpose for seeking Union Cabinet nod.

They further said the proposal will be moved this month. There would be a double digit hike in DA after about three years. It was last in September, 2010, that the government had announced a hike of 10 per cent to be given with effect from July 1, 2010.

DA was hiked to 80 per cent from 72 per cent in April, 2013, effective from January 1, this year.

As per the practice, the government uses CPI-IW data for past 12 month or a year to arrive at a number for the purpose of any DA hike. Thus, the retail inflation for industrial workers between July, 2012 to June 2013 will be used to take a final decision.
 
By PTI | 1 Sep, 2013, 11.09AM IST
(Source- Economic times)