CABINET APPROVED TO HIKE DA FROM 100% TO 107% FROM JULY 2014

CABINET APPROVED TO HIKE DA FROM 100% TO 107% FROM JULY 2014

Central Cabinet Committee today gave its approval for an another 7% of additional Dearness Allowance for Central Government employees and pensioners with effect from 1st July 2014.

The total DA now stands at the level of 107% for next six months i.e., July to December and the calculation for next additional DA from Jan 2015 already started from July AICPIN statistics…

The press release of PIB is reproduced under here for your information…

Release of additional installment of Dearness Allowance to Central Government employees and Dearness Relief to pensioners due from 01.07.2014

The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today gave its approval for the release of an additional installment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners with effect from 01.07.2014. This is an increase of seven percent over the existing rate of 100 percent of the Basic Pay/Pension, to compensate for price rise.

The increase is in accordance with the accepted formula, which is based on the recommendations of the 6th Central Pay Commission. The combined impact on the exchequer on account of both Dearness Allowance and Dearness Relief would be of the order of approximately Rs. 7691 crore per annum and Rs.5127 crore respectively in the financial year 2014-2015 (i.e. for a period of eight months from July, 2014 to February, 2015).

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