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Government hikes dearness allowance by 8 percent
Thursday April 18, 2013 09:30:17 PM,
IANS
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New Delhi: The
government Thursday hiked by eight percent the dearness allowance
(DA) for central government employees, which will impose an
additional charge of Rs.8,629 crore on the exchequer annually.
The Cabinet Committee on Economic Affairs (CCEA) in its meeting
here decided to hike the inflation-linked incentive by eight
percent effective Jan 1, 2013.
"Cabinet today (Thursday) gave its approval to release an
additional instalment of dearness allowance (DA) to central
government employees and dearness relief (DR) to pensioners with
effect from Jan 1, 2013 at the rate of eight percent over the
existing rate of 72 percent," an official statement said.
The decision is expected to benefit around 50 lakh central
employees and 30 lakh pensioners. The increase in DA and DR will
cost the exchequer Rs.8,629.20 crore per annum and Rs.10,067.36
crore from January 2013 to February 2014.
The government had increased the DA from 65 percent to 72 percent
last September for the remaining part of the last financial year.
The measure cost the exchequer Rs.4,939 crore.
The government hikes DA taking into account the consumer price
index for industrial workers and on the recommendations of the
central pay commission. The all-India Consumer Price Index for
March 2013 remained in double-digit for the fourth consecutive
month fuelled by a sharp increase in the prices of protein-based
products like pulses, egg, fish and meat as well as vegetables and
edible oil.
The consumer price-based inflation stood at 10.39 percent in
March, as compared to 10.91 percent in the previous month.
This is the sixth consecutive month of increase in the retail
inflation measured in terms of the CPI.
The retail inflation was 9.90 percent in November and entered
double digits in December when it was recorded at 10.56 percent.
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