NEW DELHI: Center on Friday has increased dear allowance (DA) for government employees increased by four percentage points to
to 42 percent from the current 38 percent according to the agreed formula for this purpose.
This decision will benefit more than a million employees and retirees.
“The combined impact on the budget due to both the Dear and Loyalty Allowance will be Rs 12,815.60 per year,” reports union cabinet said in a statement.
It says the increase is in line with the accepted formula based on the recommendations of the 7th Central Wages Committee.
The seniority allowance for employees and pensioners is calculated on the basis of the latest regulations Consumer prices The Industrial Workers Index (CPI-IW) is released monthly by the Department of Labor. The Department of Labor is part of Ministry of Labor.
The increase skin will come into effect January 1, 2023.
The last revision in the DA was made on September 28, 2022, effective July 1, 2022.
The Center increased its DA by four percentage points to 38% based on the percentage increase in the All India Consumer Price Index 12-month average for the period ending June 2022.
DA is provided to employees and pensioners to compensate them for rising prices. The cost of living increases over a period of time and is reflected through the CPI-IW.
The allowance is periodically revised twice a year.
(With input from PTI)
to 42 percent from the current 38 percent according to the agreed formula for this purpose.
This decision will benefit more than a million employees and retirees.
“The combined impact on the budget due to both the Dear and Loyalty Allowance will be Rs 12,815.60 per year,” reports union cabinet said in a statement.
It says the increase is in line with the accepted formula based on the recommendations of the 7th Central Wages Committee.
The seniority allowance for employees and pensioners is calculated on the basis of the latest regulations Consumer prices The Industrial Workers Index (CPI-IW) is released monthly by the Department of Labor. The Department of Labor is part of Ministry of Labor.
The increase skin will come into effect January 1, 2023.
The last revision in the DA was made on September 28, 2022, effective July 1, 2022.
The Center increased its DA by four percentage points to 38% based on the percentage increase in the All India Consumer Price Index 12-month average for the period ending June 2022.
DA is provided to employees and pensioners to compensate them for rising prices. The cost of living increases over a period of time and is reflected through the CPI-IW.
The allowance is periodically revised twice a year.
(With input from PTI)
