Cabinet hikes dearness allowance by 7%

September 24, 2012 21:25

The union cabinet on Monday hiked dearness allowance by 7 per cent to 72 per cent of the basic pay for all central government employees.The move will benefit about 50 lakh serving employees and 30 lakh pensioners.

It will also mean an additional burden of about Rs. 7,400 crore a year on the exchequer, Rs. 5000 crore for the effective eight-month period in this financial year.

The new DA was cleared at a meeting of the Cabinet Committee on Economic Affairs (CCEA) this evening.

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