07 March,2024 08:47 PM IST | New Delhi | ANI
Piyush Goyal during the media briefing. Pic/X
The Union Cabinet on Thursday approved a hike in Dearness Allowance for central government employees and Dearness Relief to pensioners by four per cent from January 1, 2024.
The decision comes ahead of Lok Sabha elections which are likely to be announced by the middle of this month.
Briefing the media about the cabinet decisions, Union Commerce and Industry Minister Piyush Goyal said 49.18 lakh employees and 67.95 lakh pensioners will benefit from the government decision.
He said the decision would cost Rs 12,868.72 crore per annum to the exchequer.
ALSO READ
Canada admits to leaking details of Nijjar case to The Washington Post
Govt issues advisory to social media platforms to remove misinformation
Govt asks Meta, X to share data on hoax bomb threats to airlines
Gujarat govt announces Rs 1,419 cr relief package for farmers affected by rains
Indian govt employee charged in foiled murder-for-hire plot in New York City
The cabinet meeting was chaired by Prime Minister Narendra Modi.
The additional instalment of Dearness Allowance (DA) and Dearness Relief (DR) to pensioners represents an increase of 4 per cent over the existing rate of 46 per cent of the basic pay/pension to compensate against price rise.
An official release said that the increase is in accordance with the accepted formula, which is based on the recommendations of the Seventh Central Pay Commission.
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
