INSUBCONTINENT EXCLUSIVE:
The hike will be effected from July 1, 2018.New Delhi: The Cabinet on Wednesday approved additional 2 per cent hike in Dearness Allowance
(DA) and Dearness Relief (DR), a move that will benefit about 1.1 crore central government employees and pensioners, an official release
The impact on the exchequer on account of both DA and DR would be Rs 6,112.20 crore per annum and Rs 4,074.80 crore in the financial year
2018-19 (8 months from July, 2018 to February, 2019)
The hike will be effected from July 1, 2018, the release said.The decision was taken at the Cabinet meeting chaired by Prime Minister
Narendra Modi here."The Union Cabinethas approved to release an additional instalment of Dearness Allowance (DA) to Central Government
employees and Dearness Relief (DR) to pensioners w.e.f
July 01, 2018 representing an increase of 2 per cent over the existing rate of 7 per cent of the Basic Pay/Pension, to compensate for price
rise," it said.The hike will benefit about 48.41 lakh central government employees and 62.03 lakh pensioners.As per the release, the
increase is in accordance with the accepted formula, which is based on the recommendations of the 7th Central Pay Commission.
