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Release of additional instalment of Dearness Allowance and Dearness ReliefTest your knowledge on Life Insurance and Taxatation Benefits(Quiz)and Get Free prizes
The Union Cabinet today gave its approval to release an additional instalment of Dearness Allowance (DA) to central government employees and Dearness Relief (DR) to pensioners w.e.f. 1.1.2012 representing an increase of 7% over the existing rate of 58% 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 6th 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.7474.53 crore per annum and Rs.8720.32 crore in the financial year 2012-13 (i.e. for a period of 14 months from January, 2012 to February, 2013).
DA RATE INCREASED WEF 01.01.2012 65 % FROM 58 % Reviewed by RAJA BABU on 3/24/2012 Rating: 5 Release of additional instalment of Dearness Allowance and Dearness Relief The Union Cabinet today gave its approval to release an addit...