Cabinet approves 4% hike in DA for central govt staff

NEW DELHI : The Coalition Cabinet on Wednesday increased the relative allowance (DA) and relative relief by 4%, benefiting more than 4 million central government employees and about 7 million pensioners. This decision comes at a time when high inflation is eroding savings and weakening the ability to spend.

The endowment allowance is a cost of living adjustment paid to central government employees, while the endowment allowance is paid to central government pensioners. Policymakers and economists hope the disbursement, which comes at the start of the holiday season, will lift consumption and spur economic growth.

“The Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the issuance of an additional Kindness Allowance and Reliability Relief @ 4% for central government employees and pensioners due from 1 July 2022 based on the percentage increase in the monthly average of the 12 Consumer Price Indexes of all India for the period ending June 2022″, a cabinet statement said. know.

The additional financial implication of this increase in the loss allowance for central government employees is estimated to be 6,591.36 crore per year, and 4,394.24 crore in the financial year 2022-23, it said. “The aggregate effect on performance due to both the dear grant and the dear relief will be in order 12,852.56 crore per year; and 8,568.36 crore in the financial year 2022-23″, the report added.

The Cabinet also approved 10,000 crore for the redevelopment of railway stations in New Delhi and Ahmedabad as well as Mumbai’s Chhatrapati Shivaji Maharaj Terminus, Information and Broadcasting Minister Anurag Thakur said at a press conference.

Railways Minister Ashwini Vaishnaw said all redevelopment of the station would be done under an engineering-procure-build (EPC) model and not under a public-private partnership (PPP) model, to ensure ensure that there is no extra burden on the passengers.

Vaishnaw said work on redevelopment of 199 stations is underway, and of these, 47 have been issued for tenders.

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