Latest News
-
CRISIL March 2024 Quarter Sees 5.51% Net Profit Drop; Dividend Announced -
Apollo Tyres Gets Rs 2.06 Crore Tax Demand -
Closing Bell: Market Ends Lower For The 3rd Straight Session; Sensex & Nifty Plunge Lead By IT Stocks -
India's Unemployment Rate To Decline 97 Basis Points By 2028, ORF Report Says -
Tohfa, Tohfa, Tohfa: Tata's NBFC To Power; 9 Tata Group Stocks To Pay Massive Dividends In Coming Weeks -
Penny Stock Below Rs 50 Announces Major Update On 6:11 Bonus Shares; Bet? -
Indian Rupee Hits Record Low Amid Middle East Concerns And Fed Rate Speculations -
Gold Rates In UAE: Huge Jump Of Nearly Rs 1,000 In 24-Carat Yellow Metal In Dubai; WHY? -
Nykaa’s Co-founder Adwaita Nayar Named Young Global Leader In WEF’s Class Of 2024 -
2:5 Bonus: Buy Auto Ancillaries Stock Amid Growing Buying Interest, TP Rs 140: Dividend Soon
7th Pay Commission Hikes Dearness Allowance (DA) To 38% For Central Govt. Employees
The 7th Pay Commission has confirmed that the Dearness Allowance (DA) will be hiked by 4% for central government employees. This additional 4% interest on DA will come into effect from July 1, 2022. Hence, the new effective DA rate for central government employees will be 38%. Additionally, the Dearness Relief (DR) rate has also been hiked by 4% to 38% for the central government Pensioners.
Earlier, the central government employees were getting 34% DA. With this DA hike, more than 50 lakh central government employees and around 62 lakh pensioners are expected to benefit.
Ahead of the festive season, it is good news for the central government employees, as they were expecting this DA hike for the last few weeks. They will now receive 38% of their basic salary as DA. The Union Cabinet led by Prime Minister Narendra Modi has taken the decision to hike the DA rate.
