Big News for Central Government Employees Today!
Cabinet Approves 50% DA Hike from 1 1 2024 to Central Govt Employees and Pensioners
Cabinet Approves 50% DA Hike from 1 1 2024: The Union Cabinet, under the leadership of Prime Minister Shri Narendra Modi, has granted approval for an additional instalment of Dearness Allowance (DA) for Central Government employees and Dearness Relief (DR) for pensioners, effective from January 1, 2024.
This decision entails a 4% increase from the current rate of 46% of the Basic Pay/Pension, aimed at mitigating the impact of inflation. The financial implication of this adjustment, encompassing both Dearness Allowance and Dearness Relief, amounts to Rs.12,868.72 crore annually. Approximately 49.18 lakh Central Government employees and 67.95 lakh pensioners will benefit from this measure, which aligns with the prescribed formula based on the recommendations of the 7th Central Pay Commission.
Old Dearness Allowance – 46%
Additional Dearness Allowance – 4%
Current Dearness Allowance – 50%
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