Union Railways minister Ashwini Vaishnaw briefed the media after the cabinet meeting. The announced hike will benefit over 49.18 lakh central government employees and 64.89 lakh pensioners.
Ahead of Diwali festival, the central government has hiked 3 percent Dearness Allowance (DA) for central government employees and Dearness Relief (DR) for pensioners on Wednesday. The DA will be effective from July 1. Now, the DA has been increased from 50% to 53%
Union Railways minister Ashwini Vaishnaw briefed the media after the cabinet meeting. The announced hike will benefit over 49.18 lakh central government employees and 64.89 lakh pensioners.
Vaishnaw said that the combined impact on the exchequer on account of both DA and DR would be Rs .9,448.35 crore per annum.
So, what amount a central government employee will get after the 3 % DA hike in salary. Assume a n employee draws Rs 40,000 per month as salary and his basic is Rs 24,000. It means that the employee is receiving Rs 12000 as Dearness Allowance. After a hike of 3 percent his basic will be Rs 12,720. It means he will get a hike of Rs 720 per month in his salary.
The salary of a central government employee is revised twice a year from January 1 and July 1 based on an increase in 12 monthly average of All India Consumer Price Index for Industrial Workers (AICPI-IW) published by the Labour Bureau.
Since the hike is effective from July 2024, the employees will get arrears for July, August and September.
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