Friday, March 19, 2010

Govt hikes dearness allowance by 8%

The government on Friday raised the cost of living allowance for its employees and pensioners by 8%, a Cabinet minister told reporters.
The hike will cost the government an additional Rs6,970 crore ($1.5 billion) each year, Ambika Soni said at a briefing after the Cabinet took the decision.
The dearness allowance (DA) is linked to the percentage rise in the 12-month average of the consumer price index (CPI) and is revised twice a year.

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