Brief by Shorts91 Newsdesk / 05:11pm on 07 Mar 2024,Thursday India
The Union Cabinet approves a 4% Dearness Allowance (DA) hike for over one crore Central Government employees and pensioners. Set to be effective from January 1, 2024, the increase aims to offset the impact of rising prices. Union Minister Piyush Goyal states the hike will cost the exchequer Rs 12,868 crore annually. Additionally, House Rent Allowance sees an increment. The DA and Dearness Relief adjustments, occurring twice a year, respond to changes in the cost of living index. The move aligns with the 7th Pay Commission's recommendations, benefiting millions amid economic adjustments.
