Government to release additional installment of Dearness Allowance
The Union Cabinet chaired by Prime Minister
Narendra Modi today gave its approval for the release of an additional
installment of Dearness Allowance (DA) to Central Government employees
and Dearness Relief (DR) to pensioners with effect from July 2014.
This is an increase of seven percent over the existing rate of 100
percent of the basic pay/pension, to compensate for price rise.
The increase is in accordance with the accepted formula, which is based
on the recommendations of the Sixth Central Pay Commission.
The combined impact on the exchequer on account of both Dearness
Allowance and Dearness Relief would be of the order of approximately Rs
7691 crore per annum and Rs 5127 crore respectively in the financial
year 2014-2015. (ANI)