Central Government Employees Receive A 4% Hike In Dearness Allowance (DA)

On Friday, March 24, the Union Cabinet decided to increase the dearness allowance to 42% for government employees and pensioners.

The announcement

For its more than one crore employees and retirees, the Federal Government increased the dearness allowance by 4%, bringing the whole amount to 42% from 38%. According to Union Minister Anurag Thakur, the Government would spend 12,815 crores to pay for the dearness allowance (DA) increase.

To compensate for rising costs, the Government provides its employees and retirees with a dearness allowance. It is determined using the most recent consumer price index for industrial workers (CPI-IW).

As per The Economic Times reports, around 47.58 lakh Central Government employees and 69.76 lakh pensioners will profit from this. This rise follows the approved formula, which was developed based on the suggestions of the 7th Central Pay Commission. The DA increase will be implemented retroactively on January 1, 2023.

The most recent revision to DA before this was made by the center in September 2022, going into effect as of July 1, 2022. It also increased by 4% to 38% at that time.

Other Government initiatives

The Government has also extended the Pradhan Mantri Ujjwala Yojana subsidy for an additional year. Beneficiaries of the Pradhan Mantri Ujjwala Yojana now get significant respite from high LPG costs thanks to the Government’s approval of a 200 rupee per 14.2 kg cylinder subsidy, applicable for up to 12 refills per year.

The Government has also approved the Minimum Support Price, or MSP, for raw jute for the 2023–24 season. The jute’s MSP has been set at 5,050 per quintal. According to the Government, this would result in a return of 63.20 percent over the all-India weighted average cost of production.

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