Financial Daily from THE HINDU group of publications
Friday, Mar 25, 2005
Financial Daily from THE HINDU group of publications Friday, Mar 25, 2005 |
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Government
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Financial Policy Additional DA for Central Govt staff Our Bureau
New Delhi , March 24 THE Union Cabinet on Thursday gave its approval for the release of additional instalment of dearness allowance (DA) and dearness relief to Central Government employees and pensioners with effect from January 1 this year. Thus, the rate of DA will be 17 per cent from that date for all Central employees, a three-percentage-point increase from the existing 14 per cent. The additional financial implications on account of this increase are estimated at Rs 1,146.24 crore a year and Rs 1,337.28 crore from January 1, 2005 to March 31, 2006. In the case of pensioners, the additional financial implications work out to Rs 462 crore a year. In another decision, the Cabinet also approved Rs 978-crore budgetary support to the National Jute Mills Corporation (NJMC) for providing the voluntary retirement scheme, liquidating statutory arrears, gratuity and secured liabilities.
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