Dearness Allowance Hike: DA to be restored, revised higher rate for Central Government Employees soon!

By: |
Updated: Mar 10, 2021 11:17 AM

Dearness Allowance, 7th Pay Commission Central Government Employees DA Latest News: Anurag Thakur said the previous three rates will be "restored prospectively and will be subsumed in the cumulative revised rates effective from 01-07-2021."

dearness allowance 7th pay commission latest news todayDearness allowance 7th pay commission latest news today: DA to be restored soon.

Dearness Allowance, 7th Pay Commission Central Government Employees DA Latest News: Central Government Employees may get revised DA at higher rates soon. The payment of the next instalment of Dearness Allowance to the Central Government Employees will be due from July 01, 2021.

The Union Government has informed the Rajya Sabha in a written reply that as and when the decision to release the future instalment of DA is taken, the rates of DA as effective from 01-01-2020, 01-07-2020 and 01-01-2021 will be restored prospectively.

Also, Anurag Thakur, Minister of State in the Finance Ministry said that the previous three rates will be “restored prospectively and will be subsumed in the cumulative revised rates effective from 01-07-2021.” This effectively means that the revised DA rate would be higher than the one at which it was frozen last year.

The Central Government had frozen the three instalments of DA and Dearness Relief (DR) to Central Government Employees and Pensioners due from 01-01-2020, 01-07-2020 and 01-01-2021 in view of the Covid Pandemic. Thakur said that the DA and DR freeze has helped the government save Rs 37530.08 crore. This amount will “help to tide over the economic impact of COVID-19 pandemic,” the minister said.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Govt hikes circle rates in Gurugram by up to 88% – How it will impact property market
2Investment Portfolio: What is it and how to build an investment portfolio?
3Planning to invest in foreign stocks? Find out its tax implications