Now, here is some good news for government employees of Andhra Pradesh. According to the latest development and a major decision taken by Andhra Pradesh CM N Chandrababu Naidu led state Cabinet, the government employees of the state will be given a hike in Dearness Allowance(DA). According to a news agency ANI, Andhra Pradesh Cabinet has decided to increase Dearness Allowance (DA) for state government employees from 22% to 24%.
Here are top details to know about this big financial development:-
– The enhancement of dearness allowance to government staff will be in effect from January 1, 2017.
– The decision was taken after the Naidu led state cabinet met in Amaravati
– The approved DA enhancement is in line with the 2015 pay revision commission recommendations
– The DA has been hiked from 22.008 per cent to 24.104 per cent
– Due to hike in DA the cost to exchequer will be additional of Rs 838.87 crore per annum
– The revised DA arrears for the period January 2017 to March 2018 would be credited to the employees’ general provident fund account.
– It would be paid along with salary from April 2018
Moreover, the Naidu led Cabinet also approved a draft Bill to grant statutory status to the Andhra Pradesh Economic Development Board (AP EDB ).
What is AP EDB Act, 2018?
— Andhra Pradesh CM (@AndhraPradeshCM) February 21, 2018
It is a proposed Act. AP EDB Act, 2018, is expected to be introduced during the Budget session. It would also grant statutory status to the State Investment Promotion Board (SIPB)(and the State Investment Promotion Committee (SIPC).
Also, one major highlight was Andhra Cabinet meet was that the Cabinet also gave administrative approval for Rs 1,244 crore to entrust the remaining work of concrete laying and excavation of the Polavaram Irrigation Project to Navayuga Engineering Company, in place of Transstroy India.