Monday, September 24, 2012

Cabinet approves 7% hike in DA

Cabinet approves 7% hike in DA for central govt employees
Last Updated: Monday, September 24, 2012, 18:29
New Delhi: The Union Cabinet on Monday approved a 7 percent hike in the Dearness Allowance (DA) for central government employees.
The approval will benefit 80 lakh central government employees and pensioners.
Earlier, the meetings of the Cabinet Committee on Economic Affairs (CCEA) and Cabinet Committee on Infrastructure (CCI), was scheduled for Friday but was postponed apparently due to political turmoil post the government’s ‘big bang’ reform announcement.
The hike in dearness allowance will be effective from July 1, 2012, and the employees would be entitled to arrears from that date.
The additional burden on exchequer on account of increase in DA would be around Rs. 5,000 crore for the eight-month period between July, 2012 and February, 2013. It will be Rs. 7,400 crore for the full financial year.
The government had last increased DA in March this year from 58 percent to 65 percent, which was effective from January 1, 2012. It will now be increased to 72%.
The government periodically hikes the DA, which is linked to consumer price index for industrial workers. The consumer price index (CPI) based on movement in retail prices, soared to 10.03 percent in August, from 9.86 percent in July.
With PTI Inputs
First Published: Monday, September 24, 2012, 09:20
Cabinet approves 7% hike in DA for central govt employees

No comments:

Disclaimer

The contents posted on these Blogs are personal reflections of the Bloggers and do not reflect the views of the "Report My Signal- Blog" Team.
Neither the "Report my Signal -Blogs" nor the individual authors of any material on these Blogs accept responsibility for any loss or damage caused (including through negligence), which anyone may directly or indirectly suffer arising out of use of or reliance on information contained in or accessed through these Blogs.
This is not an official Blog site. This forum is run by team of ex- Corps of Signals, Indian Army, Veterans for social networking of Indian Defence Veterans. It is not affiliated to or officially recognized by the MoD or the AHQ, Director General of Signals or Government/ State.
The Report My Signal Forum will endeavor to edit/ delete any material which is considered offensive, undesirable and or impinging on national security. The Blog Team is very conscious of potentially questionable content. However, where a content is posted and between posting and removal from the blog in such cases, the act does not reflect either the condoning or endorsing of said material by the Team.
Blog Moderator: Lt Col James Kanagaraj (Retd)

Resources