Wednesday, March 15, 2017

The Centre today increased dearness allowance and dearness relief to 4 per cent from existing 2 per cent from January 1, 2017, benefiting 48.85 employees and 55.51 lakh pensioners.

"The Union Cabinet chaired by Prime Minister Narendra Modi has approved release of an additional instalment of dearness allowance to central government employees and dearness relief to pensioner with effect from January 1, 2017," an official statement said.

The DA/DR has been increased by 2 per cent over the existing rate of 2 per cent of the basic pay/pension to compensate for price rise and it is in accordance with the accepted formula based on the recommendation of 7th pay commission, the statement said.

This hike in DA/DR will benefit 48.85 lakh central government employees and 55.51 lakh pensioners, it said.

The statement said that the combined impact on the exchequer on account of both dearness allowance and dearness relief would be Rs 5,857.28 crore per annum and Rs 6,833.50 crore in the Financial Year 2017-18 (for a period of 14 months from January, 2017 to February, 2018).

The hike in the DA/DR is as per the agreed methodology of taking average of Consumer Price Index-Industrial Workers for the past 12 months.

The Confederation of Central Government Employees had termed it as a meagre hike in view of actual rise in cost of living index saying the CPI-IW was far from reality.

The union had also said that there was a lot of variation in the rates of price rise of commodities by Ministry of Agriculture and CPI-IW.

Related Posts:

  • 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
  • Railway Board to identify vulnerable accident areas Railway Board to identify vulnerable accident areas Expressing concern over a spate of train accidents in recent times, Railway Board Chairman A.K. Mittal has instructed Divisional Railway Managers across the country to ins… Read More
  • Suresh Prabhu launches railway knowledge portal NEW DELHI: In line with the 'Digital India', a knowledge portal for dissemination of detailed information on Indian Railways was launched today by Railway Minister Suresh Prabhu. Indian Railway Knowledge Portal which is acce… 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
  • 200 disgruntled passengers stop Bristol train and walk along tracks Police seek identity of rail users who pulled emergency cord, left train and walked back along tracks after discovering it would miss next station The incident happened in the Redland area of Bristol, shortly after the servi… Read More

0 comments:

Welcome To AILRSA....

Visitors

1116734

Admin Area

Blog Archive

AILRSA 1970 - . Powered by Blogger.

Are You Satisfied with 7th Pay commission ?

Popular Posts

Recent Posts

Text Widget

Followers

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

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