Tuesday, September 25, 2012


NEW DELHI: The Union government on Monday hiked dearness allowance (DA) by 7 per cent, benefiting its 
80 lakh employees and pensioners and costing the exchequer an additional Rs 7,408 crore annually.

The hike will be effective from July 1, 2012, and the employees would be entitled for arrears from this date.


The hike in the DA from 65 per cent to 72 per cent will cost the exchequer Rs 4,939 crore for the remaining part of the current financial year. The annual burden on account of the DA increase has been estimated
 at Rs 7,408 crore, says an official release.

The decision, which was approved by the Union Cabinet, will benefit about 50 lakh employees and 30 
lakh pensioners of the central government.

The increase in DA is in accordance with the accepted formula which is based on the recommendations
 of the 6th Central Pay Commission, the release added.

The relief comes in the backdrop of government increasing the diesel price by Rs 5 per litre and retail
 inflation crossing the double-digit mark.

The government had increased DA last in March this year from 58 per cent to 65 per cent, which was 
effective from January 1, 2012.

The government periodically hikes the DA, which is linked to consumer price index for industrial workers.
The all-India Consumer Price Index for June, 2012 worked out to be 199.58, which constituted an increase 
of 72.40 per cent over the base index of 115.76 (as on January 1, 2006).

The consumer price index (CPI), based on movement in retail prices, soared to 10.03 per cent in August, 
from 9.86 per cent in July.

As regards the financial implications, the annual burden on exchequer would be Rs 4,338 crore on
 account of increase in DA for employees and Rs 3,070 crore towards pensioners.

The burden during the remaining part of the current fiscal has been estimated at Rs 2,892 crore on
 account of additional payment to employees and Rs 2,046 crore to pensioners.

Related Posts:

  • Court rejects bail plea of IAS officer caught in bribery case Jaipur: Suspended IAS officer Ashok Singhvi was on Saturday denied bail by a local court in Udaipur in a case related to bribery involving Rs 2.55 crore. Singhvi is among eight persons who were arrested recently by Anti-Corr… Read More
  • Are The Indian Railways On Track? A brief overview of the state of Indian Railways through two simple charts. Railways have been an indispensable part of the Indian subcontinent. Being one of the world’s largest networks it spans 1,15,000 km of track over a … Read More
  • Indian Railways On A Fast Track Indian Railways On A Fast Track(BW Photo by Subhabrata Das)When the railway minister gets up to present his second railway budget, Indian Railways would have more than just a blue print of modernisation and development, says… Read More
  • NIT Mumbai 28.09.15 On 28 Sept 2015 at NIT Mumbai: After the retirement of Sri. K Shankar( witness from Railways, to be cross examined), Railway did not post a new person as witness. On 28.09.2015 Com DS Koparkar attended NIT Sitting at Mumbai… Read More
  • Maruti Suzuki workers to get an average pay hike of Rs16,800 per month 11 / 14 The country’s largest car maker, Maruti Suzuki India Ltd, has reached a wage settlement with workers of its Gurgaon and Manesar plants, under which employees will get an average salary hike of around Rs 16,800 per month spre… Read More

0 comments:

Welcome To AILRSA....

Visitors

1116724

Admin Area

Blog Archive

AILRSA 1970 - . Powered by Blogger.

Are You Satisfied with 7th Pay commission ?

Popular Posts

Recent Posts

Text Widget

Followers

-------------------------------------------------------

-------------------------------------------------------