The Central Government made a significant decision to increase the dearness allowance (DA) for its employees in a recent Union Cabinet meeting held on a Wednesday.
This DA hike, to be effective from July 1, 2023, will raise the DA rate to 46 percent for central government staff, ultimately leading to higher salaries for the month of November.
Additionally, employees will receive arrears for the period spanning from July to October. This move is expected to positively impact a substantial number of individuals, benefiting around 4.7 million employees and 6.8 million pensioners.
Central government employees receive DA revisions twice a year, one from January to June and another from July to December. For those with a minimum basic salary of Rs 18,000, the existing 42 percent DA translates to a monthly increase of Rs 7,560. Following the increase to 46 percent, their monthly salary will see a boost to Rs 8,280
Moreover, during the same Cabinet meeting, the government also gave the green light to an increase in the minimum support price (MSP) for six Rabi crops.
Notably, the MSP for rabi barley was raised by Rs 115 per quintal, while sunflower and wheat saw an increase of Rs 150 per quintal.
Furthermore, it was decided that the MSP for rabi mustard would be elevated to Rs 22 per quintal, and rabi channa would see a rise of Rs 105 per quintal. These measures are expected to have a positive impact on the financial well-being of government employees and farmers across the country.
Keeping the festivities in mind, the Union Cabinet under the leadership of Hon'ble PM Shri @narendramodi ji has approved a hike of the Dearness Allowance (DA) by 4%, taking it from 42%- 46%
— Anurag Thakur (@ianuragthakur) October 18, 2023
Around 48.67 lakh Central Government employees & 67.95 lakh pensioners are going to… pic.twitter.com/vCnTZkvERW
