Monday , June 25 2018
Home / Uncategorized / Gujarat Government Announced 1 % D.A. To Employee

Gujarat Government Announced 1 % D.A. To Employee

Gujarat Government Announced 1 % D.A. To Employee

The Gujarat government raised the dearness allowance for central government employees and pensioners by 1% on Tuesday, and approved a bill to raise the ceiling of tax-free gratuity from Rs 10 lakh to Rs 20 lakh for private sector employees.
The increase in dearness allowance and dearness relief to 5% from 4% will benefit around 49.26 lakh central government employees and 61.17 lakh pensioners, Union minister Ravi Shankar Prasad said.
Fatter pay cheques could help increase spending in an economy that is seen to be still reeling from the effects of last year’s note ban, though experts said the impact is likely to be mild. The economy growth rate in the last quarter plummeted to 5.7% from the corresponding period a year before.
The hike, which will be given on salaries from July 1, 2017, was part of several decisions taken by the Union cabinet that met for the first time since Prime Minister Narendra Modi’s team was rejigged.
It creates an additional annual burden of Rs 3,068.26 crore per annum on the exchequer, but for this year, it will cost Rs 2,045.50 crore since it is applicable only from July.
“The increase in DA will only mildly support the economy,” said DK Joshi, chief economist at financial analysis firm Crisil.

(adsbygoogle = window.adsbygoogle || []).push({});

In a statement, the government said Tuesday’s decisions — particularly the one on the gratuity bill — were made after considering the increase in inflation and wages. “The government is of the view that the entitlement of gratuity should be revised for employees who are covered under the Payment of Gratuity Act, 1972, which is an important social security legislation to wage earning population in industries, factories and establishments”.

(adsbygoogle = window.adsbygoogle || []).push({});

About admin

Previous TET 1 OFFICIAL NOTIFICATION 2017DECALRED BY STATE EXAMINATION BOARD GUAJRAT AT Http://Gujarat-Education.Gov.In/Seb/Index.Htm
Next 11 MAS NA KARAR AADHARIT KARMCHARIO NE LABH AAPVA BABAT

Check Also

[Gujarat Board]: 1 To 5 Gujarat Language Books of New NCERT Syllabus Book Of Gujarat Board in One Click.

Mathematics New NCERT Syllabus Book Of Gujarat Board Gujarat State Education Board has adapted NCERT …

GSSSB Female Staff Nurse Final Answer Key 2018

GSSSB Female Staff Nurse Final Answer Key 2018 GSSSB Female Staff Nurse  Finel Answer Key (Ayurveda …

STD 10 SOCIAL SCIENCE MODEL PAPER 1

STD 10 SOCIAL SCIENCE MODEL PAPER 1 CLICK HERE TO DOWNLOAD