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The Union Cupboard on Thursday gave its nod to hike dearness allowance (DA) for central authorities workers by 4 per cent, which is able to price Rs 12,869 crore every year to the state exchequer. Submit this hike, dearness allowance and dearness reduction (DR) will contact 50 per cent. As many as 49.18 lakh workers and 67.95 lakh pensioners will profit from the DA hike. Yearly, DA and DR are often raised twice — January and July.
The central authorities workers and pensioners will get a advantage of Rs 24,400 crore with the allowance hike, Union Minister Piyush Goyal mentioned on Thursday.
The final hike in dearness allowance and dearness reduction was made in October 2023 when the Union Cupboard had elevated it by 4 share factors to 46 per cent with impact from July 1, 2023.
The Centre decides on the quantum of hike primarily based on the CPI knowledge for industrial staff. As per studies, the 12-month common is at 392.83. Based mostly on this, DA might be at 50.26 per cent of primary pay.
The Labour Bureau, a wing of the Ministry of Labour, publishes the CPI-IW knowledge each month.
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