New Delhi: The Cabinet, chaired by Prime Minister Narendra Modi, has approved the release of an additional instalment of DA (Dearness Allowance) and Dearness Relief @ 4% to Central Government employees and pensioners due from July 1, 2022 based on the percentage increase in 12 monthly average of All India Consumer Price Index for the period ending June 2022, said an official statement on Wednesday.
The Central government employees and pensioners will become entitled to a higher amount of DA and Dearness Relief respectively, w.e.f. July 1, 2022, the statement added.
The additional financial implications on account of this increase of Dearness Allowance to Central government employees is estimated to be at Rs 6,591.36 crore per annum, and Rs 4,394.24 crore in the financial year 2022-23 (i.e. for a period of 8 months from July, 2022 to February, 2023).
The additional financial implications on account of this increase of Dearness Relief to pensioners are estimated at Rs 6,261.20 crore per annum, and Rs 4,174.12 crore in the financial year 2022-23 (i.e. for a period of 8 months from July, 2022 to February, 2023).
The combined impact on the exchequer on account of both Dearness Allowance and Dearness Relief would be of the order of Rs 12,852.56 crore per annum, and Rs 8,568.36 crore in the financial year 2022-23 (i.e. for a period of 8 months from July, 2022 to February, 2023), the statement said.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)