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The Union Cabinet has announced a 3 per cent hike in Dearness Allowance (DA) for central government employees and pensioners in a festive delight just ahead of Diwali. This increase, raising the DA from 42 per cent to 45 per cent of the basic pay, brings a much-needed financial boost to millions of employees and retirees across the country.
When will the revised DA hike come into effect?
The revised DA will take effect from July 1, 2024. This will ensure that employees and pensioners benefit from the increased allowance just in time for the festive season. This decision comes as a financial relief amidst rising inflation and the increasing cost of living.
Dearness Allowance is an adjustment to salaries that helps employees keep up with inflation and rising living costs. It’s calculated based on the All India Consumer Price Index (AICPI).
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