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Modi gives Diwali gift of 5% DA hike

Modi gives Diwali gift of 5% DA hike

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Modi gives Diwali gift of 5% DA hike
October 09
19:08 2019

Modi government has taken care of 50 lakh government employees and 65 lakh pensioners by giving them a Diwali gift of 5%,DA hike from current 12% to 17%, Union Minister Prakash Javadekar said today. The decision,with retrospective effective from July, 2019 will cost the government Rs.15,909.35 crore.

Dearness Allowance is provided as an adjustment to compensate for the increase in the cost of living of an individual on account of inflation. It is a percentage of the employee’s basic salary based on the recommendations of the 7th central Pay Commission.The government move is aimed at reviving consumer demand amid an economic slowdown and to offset the impact of inflation pumping up liquidity and purchasing their power.

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