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Five percent increase in DA for Central staff, pensioners | The Union Government on Thursday announced a five per cent increase in the dearness allowance for its employees and pensioners, with effect
from July this year. The announcement will entail an outgo of about Rs 2,904 crore
this fiscal. Announcing the decision after a cabinet meeting, Union Information
and Broadcasting Minister Ambika Soni told reporters that the combined impact
on the exchequer on account of hike in dearness allowance and relief would be
of the order of Rs 4,355.35 crore for entire year. The impact for the current
fiscal would be Rs 2903.55 crore, as the increase would be effective for nine
months only from July to March. Soni said, a five percent increase in the DA for
the employees and dearness relief for pensioners would be over the existing rate
of 22 percent of the basic pay or pension. The Union Cabinet also approved the
interest rate subsidy of one percent for housing loans up to Rs 10 lakhs and earmarked
Rs 1,000 crore for the scheme. The subsidy of one percent will be available for
first 12 EMIs (Equated Monthly Installments) on loans up to Rs 10 lakhs for houses
costing less than Rs 20 lakhs. Earlier, in July while replying to the debate on
the General Budget Finance Minister Pranab Mukherjee had announced the scheme
for providing interest rate subsidy on house loans. |
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