Saturday, March 20, 2010

DA(dearness Allowance) increased to 8 % wef 01.01.2010


on Saturday, March 20, 2010

The Government has increased the Dearness Allowance of Government employees by 8 per cent. The Ministry of Finance in a statement on Friday said that the Union Cabinet decided to release an additional installment of Dearness Allowance to Central Government employees and Dearness Relief to pensioners to compensate for price rise.
The new rates, representing an increase of 8 per cent over the existing rate of 27 per cent of the basic pay/ pension, would be with effect from January 1, 2010. The increase was in accordance with the recommendations of the Sixth Central Pay Commission, said the statement. The hike in DA was expected to result in a financial outgo of around Rs 16000 crore for the exchequer during the 14-month period of January, 2010, to February, 2011.



Ministry of Finance
 

 Release of additional instalment of Dearness Allowance to Central Government employees and Dearness Relief to Pensioners due from 1.1.2010
15:3 IST
The Union Cabinet today decided to release an additional instalment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners with effect from 1.1.2010 representing an increase of 8% over the existing rate of 27% of the Basic Pay/Pension, to compensate for price rise. The increase is in accordance with the accepted formula, which is based on the recommendations of the Sixth Central Pay Commission. The combined impact on the exchequer on account of both dearness allowance and dearness relief would be of the order of Rs.6969.36 crore per annum and Rs.8131.20 crore in the financial year 2010-2011 (for a period of 14 months from January, 2010 to February, 2011).

********


AKT/SH/VK


0 comments:

Post a Comment