December 9, 2021

The World Stock Markets Tips & Targets, News, Views & Updates

The World Stock Markets Tips & Targets, News, Views & Updates

Bumper Diwali bonanza for MSRTC employees, DA hike from 12% to 17% announced

New Delhi: The Maharashtra State Road Transport Corporation (MSRTC) has announced hike in dearness allowance (DA) of its employees to 17 per cent from existing 12 per cent ahead of Diwali.

Announcing the hike in DA of its employees to 17 per cent from existing 12 per cent, the corporation also said the October salary of employees will be paid before Diwali festival on November 1 instead of scheduled 7th day of each month.

The cash-strapped corporation also announced “Diwali Bhet” (bonus) of Rs 2,500 and Rs 5,000 to its employees and officers, respectively.

In a similar development related to DA hike, the Union Cabinet last week approved a 3 percent dearness allowance (DA) and dearness relief (DR) hike, which will benefit over 47.14 lakh Central government employees and 68.62 lakh pensioners.

“The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, today has approved to release an additional instalment of Dearness Allowance to Central Government employees and Dearness Relief (DR) to pensioners w.e.f. 1.7.2021 representing an increase of 3% over the existing rate of 28% of the Basic Pay / Pension, to compensate for price rise. This increase is in accordance with the accepted formula, which is based on the recommendations of the 7th Central Pay Commission.  The combined impact on the exchequer on account of both Dearness Allowance and Dearness Relief would be Rs.9,488.70 crore per annum.  This will benefit about 47.14 lakh Central Government employees and 68.62 lakh pensioners,” said an official release.

It may be recalled that the Cabinet Committee chaired by Prime Minister Shri Narendra Modi had in July approved increase the Dearness Allowance to Central Government employees and Dearness Relief to pensioners with effect from 01.07.2021 to 28% representing an increase of 11% over the existing rate of 17% of the Basic Pay/Pension.

Live TV

#mute

Share This :