Finance
7th Pay Commission Dearness Allowance Increase: The Union Cabinet, chaired by Prime Minister Narendra Modi, today approved the disbursement of an additional installment of Dearness Allowance and Dearness Relief, which is due on July 1, 2023. The decision will help 48.67 lakh Central Government employees and 67.95 lakh pensioners.
“Dearness Allowance for Central Government Employees and Dearness Relief for pensioners increased by 4%. The DA hike will be implemented from 1, July 2023,” Union Minister Anurag Thakur said while announcing Cabinet decisions
Earlier on Tuesday, the Central Government declared Non-productivity Linked Bonus (ad-hoc bonus) for eligible employees.
Central government employees’ DA is reviewed twice a year. The first is available from January to June, while the second is available from July to December. The present 42 percent DA gives a monthly gain of Rs 7,560 for persons earning a minimum basic wage of Rs 18,000 per month. The monthly income would rise to Rs 8,280 as a result of the 46% hike.
In addition, the government has approved an increase in the minimum support price (MSP) for six Rabi crops. The Centre has also hiked the MSP for rabi barley by Rs 115 per quintal and the MSP for sunflower and wheat by Rs 150 per quintal.
During the conference, it was determined that the MSP for rabi mustard would be raised to Rs 22 per quintal and that the MSP for rabi channa would be enhanced to Rs 22 per quintal and rabi channa MSP by Rs 105 per quintal.
Source:BS
