Dearness Allowance: Government approves 3% DA hike for employees ahead of Diwali celebrations
PTC News Desk: The central government has officially approved a 3 per cent hike in the dearness allowance (DA) for over one crore employees and pensioners, bringing the total DA to 45 per cent, up from the previous rate of 38 per cent. This significant decision was made during a cabinet meeting held this morning, just weeks before the Diwali festivities, providing much-needed relief to central government employees.
The DA is designed to help government employees and pensioners cope with rising living costs. It is revised biannually and is based on the latest consumer price index for industrial workers. Currently, the DA stands at 50 per cent. If the government proceeds with this increase, the DA is expected to rise to 53 per cent starting from July 1, 2024. This adjustment will benefit more than one crore central government employees and pensioners, who will also receive arrears for the months of July, August, and September.
In a similar vein, last year, the government announced the DA hike in advance of the festive season. This year, the Himachal Pradesh government has already delighted its employees by announcing a 4 per cent DA hike just before Dussehra, which is set to benefit approximately 1.80 lakh employees and 1.70 lakh pensioners in the state.
In summary, this 7th Pay Commission DA hike is a timely boost for central government employees, aligning with the upcoming festive celebrations, and reflects ongoing efforts to support their financial well-being during this period of inflation. Stay tuned for further updates on this important development in DA hike news.
- With inputs from agencies
