Big Diwali gift: DA raised to 17% for 50 lakh govt employees, 62 lakh pensioners

IBTimes

The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday, October 9, approved a 5 per cent hike (over the existing rate of 12% of the Basic pay/Pension) in dearness allowance (DA) given to central government employees and pensioners. Calling it a "Diwali gift" to government employees, Union Minister Prakash Javadekar said that around 50 lakh central government employees and 62 lakh pensioners would benefit from the decision.

The development, which will be effective from July 2019, will be a major relief for the government employees. The move, announced by Prakash Javadekar after the cabinet meeting, comes amid an economic and synchronised slowdown.

The DA has been raised from 12 to 17 per cent to compensate for price rise and this will cost the government Rs 16,000 crore annually.

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