Wednesday, 9 October 2019

Dearness Allowance (DA) of Central Government Employees and Pensioners Increase by 5%

Dearness Allowance (DA) of Central Government Employees and Pensioners Increase by 5%:

The government of India finally decided to hike the Dearness Allowance (DA) of Indian government employees and pensioners by 5% today on October 9th, 2019.

The decision finally came forward being the greatest Diwali gift to the central government employees, and all the associated pensioners under the stream.

The meeting for the same was under the kind supervision of honorable PM of India, Mr. Narendra Modi, and Minister for Education, Mr. Prakash Javadekar. 

Hike in the Dearness Allowance (DA)

Prakash Javadekar stated and made it clear that the Dearness Allowance (DA) of all the central government employees will now be raised from 12% to 17%. This clearly indicates a great hike of 5%, putting the employees under the great financial benefit. The strategy will even benefit the pensioners under the scheme, i.e. all the retired employees from the central government will also be benefited from the decision.

Mr. Javadekar took note that the same was increased earlier at the rate of merely 2% to 3%, but the government decided to make it larger in this cabinet meeting. He later stated that the hike is one of the greatest figures during the last several years. 

Benefits to the employee all over the country 

At about 50 lakh central government employees, and 65 lakh pensioners will be benefited from the government's decision. This amazing rise in the dearness allowance will be made effective from July 2019 onwards. It means that the beneficiaries will get a heavy aerier amount for the past few months as well. The increased will be calculated from the month of July 2019 to till date providing the employees a great economical benefit. 

The bearable cost to the exchequer will reach about 16000 crores, making the employees benefited from the decision. The increase in the same is the result of the kind recommendation of the 7th pay commission functioning under the Government of India. The minister even stated it to be a gift of Diwali to all the concerned persons. 

What about the employees serving under the state government?

As ever, soon after the implementation of the same for all the central government employees, all the state government employees will also be taken into consideration. 

Dearness Allowance Hike by 5%

The government order will be made functional for all the government employees working under the state government for the different states. It may happen that the employees will get this benefit after a few months, but the entire aerier amount will be provided without any issues. 

Sensex surge about 646 points today, and Nifty ends up at 11,300

After facing a consistent loss of 6 days, Sensex gained at 646 points and Nifty ended up at 11,300. The 5% hike in the Dearness Allowance (DA) will make the country economically sound by putting the added sum of money in the hands of over a crore central government employees and the associated pensioners. 
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