In a major financial relief, the Union Cabinet, chaired by Prime Minister Narendra Modi, has approved a 3% increase in Dearness Allowance (DA) and Dearness Relief (DR) for Central Government employees and pensioners, respectively.
This increase takes the DA from 50% to 53% of basic pay and pension, effective from July 1, 2024. The decision will benefit over 1 crore employees and pensioners across the country.
This adjustment aims to help employees mitigate the rising cost of living and is part of the government's biannual DA revision, which aligns with inflation trends. For a government employee with a basic salary of Rs 22,000, the new 3% hike will mean an increase of Rs 660 in monthly salary.
This announcement comes just in time for the festive season, with the revised payments expected to be seen as a significant Diwali gift for many. The last DA hike, a 4% increase, was announced in March 2024.
Stay tuned for more updates on the disbursement of this hike!
