Cabinet approves DA 4% benefit to cost Rs.12,868.72 crore per annum to the exchequer

08 Mar 2024: The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved to release of an additional instalment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners w.e.f. 1.1.2024 representing an increase of 4% over the existing rate of 46% of the Basic Pay/Pension, to compensate against price rise.

Cabinet approves DA 4% benefit to cost Rs.12,868.72 crore per annum to the exchequer

The combined impact on the exchequer on account of both Dearness Allowance and Dearness Relief would be Rs.12,868.72 crore per annum.  This will benefit about 49.18 lakh Central Government employees and 67.95 lakh pensioners.

The 7th Central Pay Commission.

This increase is under the accepted formula, which is based on the recommendations of the 7th Central Pay Commission.

The new rate will be effective from January 1, 2024, and will represent an increase of 4% over the existing rate of 46% of the Basic Pay/Pension. The hike in the Dearness Allowance and Dearness Relief came as compensation against the price rise.

###Cabinet Approves DA 4%

1. Dearness Allowance

2. Central Government Employees

3. Narendra Modi

4. Pensioners

5. 7th Central Pay Commission

6. Inflation Adjustment

7. Financial Impact

8. Salary Increase

9. Cost of Living Adjustment

10. Exchequer Impact

Citations:

[1] https://youtu.be/uPXZcMlqKA0?si=HwLGsfaN7lvWrFWA

[2] https://www.bodonews.info/2024/01/bathou-bwswn-ong-hring-khling-fwtse.html

[3] https://www.bodonews.info/2024/03/how-to-write-effective-speech.html

[4] https://youtube.com/shorts/7ry0wIKzeG8?si=ZhlHTKFjN7te8LGE

[5] https://youtu.be/I8bJWTzbULw?si=IcFIDj6tucrJk4Sl