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The Modi Cabinet on Thursday announced an increase in Dearness Allowance (DA) of Central government employees by four per cent to 50 per cent. The increased DA will be effective from January 1, 2024.
This will benefit about 49.18 lakh Central government employees and 67.95 lakh pensioners, according to an official statement issued after the meeting. The combined impact on the exchequer on account of both Dearness Allowance and Dearness Relief would be Rs 12,868.72 crore per annum.
This increase is in accordance with the accepted formula, which is based on the recommendations of the 7th Central Pay Commission.
The Cabinet has also approved the continuation of the Rs 300 subsidy to PM Ujjwala Yojana consumers till March 31, 2025. The total expenditure for this will be Rs 12,000 crores, Union Minister Piyush Goyal informed.
The Cabinet has approved the Minimum Support Price (MSP) for Raw Jute for 2024-25 season at Rs 5,335 per quintal, an increase of Rs 285 per quintal over the previous season, Piyush Goyal announced.
The government also approved a comprehensive national-level IndiaAI mission with a budget outlay of over Rs 10,000 crores.
In addition to the above decisions, the Cabinet approved Rs 10,237 crore scheme to promote industrialisation in the Northeast region, the Union Minister further informed.
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