Modi govt has taken significant steps towards financial inclusion of women: Smriti Irani
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Ahead of Lok Sabha elections, the Narendra Modi government on Thursday hiked Dearness Allowance of government employees by 4 per cent. Besides, the Dearness Relief to pensioners of the central government have also been hiked by four per cent.
The increased Dearness Allowance will be effective from January 1,2024.
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The decision was taken during a meeting of Union Cabinet chaired by Prime Minister Narendra Modi. It comes days ahead of the announcement of Lok Sabha elections schedule later this month.
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Announcing the decision, Union Commerce and Industry Minister Piyush Goyal said that the decision will benefit 49.18 lakh employees and 67.95 lakh pensioners.
This will cost the exchequer Rs 12,868.72 crore per annum.
“The combined impact on the exchequer on account of both Dearness Allowance and Dearness Relief would be Rs.12,868.72 crore per annum. This will benefit about 49.18 lakh Central Government employees and 67.95 lakh pensioners,” a government press release said.
“This increase is in accordance with the accepted formula, which is based on the recommendations of the 7th Central Pay Commission,” the government said.
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