New Delhi: Ahead of the upcoming season of festivities including Diwali, the central government approved a 4% hike in the additional installment of Dearness Allowance and Dearness Relief for central government employees and pensioners on Wednesday.
According to a report by the PTI, The additional financial implications on account of the increase of DA to employees are estimated at ₹6,591.36 crores per annum, and ₹4,394.24 crores in the financial year 2022-23 (8 months from July 2022 to February 2023).
The other financial implications in the case of pensioners are estimated at ₹6,261.20 crores per annum, and ₹4,174.12 crores in the financial year 2022-23.
The report added that the combined impact on the exchequer of both Dearness Allowance and Dearness Relief would be ₹12,852.56 crores per annum and ₹8,568.36 crores in the current financial year.
This is the second increase in the dearness allowance of the central government employees this year. In March 2022, the government announced a three percent increase in DA, effective from January 1, 2022.
(With Agency Inputs)
Click here for Latest News updates and viral videos on our AI-powered smart news
For viral videos and Latest trends subscribe to NewsMobile YouTube Channel and Follow us on Instagram